U.S. Federal Budget FY 2008 Primer Now Available
Monday February 19, 2007
The President has submitted the U.S. Federal Budget FY 2008 to Congress, which is currently debating many of its measures. Your guide to the U.S. Economy has written an easy-to-use primer, which provides analyses of:
- Economic Report of the President, which provides the Budget's assumptions about the U.S. economy
- Revenue projections
- Discretionary spending proposals, including military spending
- Mandatory spending proposals
- The impact of deficit spending.
The U.S. Federal Budget FY 2008 Primer provides a summary of the key FY 2008 budget proposals and how the proposals, if passed, would impact the U.S. economy. The Primer also highlights important areas that the U.S. Federal Budget for FY 2008 disregards. Finally, this Primer suggests background issue papers available for further reading.
Comments
You put a lot of work into this and it shows.
That said, the ‘fundamentals’ of a ’strong’ economy aren’t there.
Our nation continues to bleed, nay, hemmorage jobs while the national savings rate has been negative since 2005 and personal debt is at record levels (90% of income.)
Add to this how the economy has twice as many working aged citizens to the not in the workforce figures than it has added to the workforce in the past seven years and what you’re left with is smoke and mirrors.
The GDP numbers are being massaged, there is no economy, we are bankrupt.
The only thing saving our collective backsides at the moment is the US dollar’s ‘reserve currency’ status.
Um, this is no reflection on you or the work you do here, just my humble opinion about a few economic facts.
Thanks for your comments. I will be writing a little bit more on the personal savings rate in March.
I also agree about the U.S. dollar’s reserve currency status…it is what is financing GDP growth coupled with low inflation rate.
I read recently that the Chinese government has developed a new department to diversify their foreign currency reserves out of the dollar. Should be interesting.
Kimberly Amadeo, Publisher