PrintJanuary 28, 2010
Graph of the Day for January 28, 2010
"We can no longer afford to spend as if deficits don't matter and waste is not our problem. We can no longer afford to leave the hard choices for the next budget, the next administration -- or the next generation." President Obama, May 2009
CBO's Projection of the Federal Budget (% of GDP)
Source: Congressional Budget Office.
Hoven's Index for January 28, 2010
2009 federal deficit: $1.414 trillion
2010 projected deficit: $1.349 trillion
Average annual growth rate in revenue from individual income taxes, 1999-2008: +3.3%
Same for 2009: -20.1%
Average annual growth rate in revenue from corporate income taxes, 1999-2008: +4.9%
Same for 2009: -54.6%
Source: CBO.
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