Charts Used During Markup of The Fiscal Year 2007 Budget Resolution -- 3/29 THE DEFICIT Baseline Deficits In Nominal Dollars Baseline Deficits As Share of Economy Largest Cause of Deficits in FY’s 2001 - 2005 Was the Economy Surplus or Deficit as A Share of GDP Net Interest As Share of Total Spending Debt Held by the Public as A Share of GDP Necessary Emergency Spending Increases 2006 Deficit THE ECONOMY Unemployment Rate at Low Level Payroll Jobs Have Rebounded Payroll Job Growth (Thousands of New Payroll Jobs) Real GDP Growth and Blue Chip Outlook Cutting the Deficit in Half Baseline Spending Exceeds Inflation EDUCATION Education Funding has Doubled Increases in Federal Student Aid Total Pell Grant Funding Fiscal Years 1996 – 2006 Pell Grant Maximum Awards Overall Pell Grant Funding FY 1996 – FY 2006 IDEA Funding has More Than Quadrupled in the Last Decade Education Funding Discretionary Appropriations Increases FY ’96 – FY ’06 TAX RECEIPTS Tax Receipts Rebound with Record Increase Composition of Revenues In billions of dollars Revenue and Outlays as A Share of GDP Baseline Revenue Growth is Strong Projected Growth of Revenues: 2001 and 2003 Tax Relief Made Permanent HEALTH CARE Spending Per Veteran 1984-2006 Medicaid Federal Outlays in Billions of Dollars GOP Delivers on Promise: NIH Doubled in 5 Years! Total Budget Authority for Veterans Medical Care Before and After 1995 Medicare Mandatory Outlays in Billions of Dollars FEDERAL SPENDING The Federal Government Dollar Fiscal Year 2005 Fiscal Year 2005 Spending As A Percent of Total Outlays House Passes Tight FY 2006 Appropriations Bills in Regular Order Major Entitlement Programs and Revenues As a Percentage of GDP; FY 2007-2050 Emergency Budget Authority as a Share of Total Discretionary BA Emergency Budget Authority (FY 1991-2005) Comparison of Mandatory Spending Growth and the Rate of Inflation 2005-2015 Mandatory Spending Growth 1995, 2005, 2016 Projected Spending for Social Security, Medicare and Medicaid As Percent of GDP Composition of Entitlement Spending Mandatory Outlays 10 Years of Spending History Discretionary Budget Authority Including Emergency Spending Composition of Mandatory Spending Outlays 10 Years of Spending History Total Budget Authority The Democrats’ “Plan” Updated Charts on the Economy -- 1/13 THE ECONOMY Real GDP Growth and Blue Chip Outlook Payroll Jobs Have Rebounded Unemployment Rate at Low Level Payroll Job Growth in Past 31 Months