Political Capital

Posts tagged: deficit

Copies of the Fiscal Year 2014 Budget at the U.S. Government Printing Office in Washington, D.C.

Photograph by Andrew Harrer/Bloomberg

Copies of the Fiscal Year 2014 Budget at the U.S. Government Printing Office in Washington, D.C.

Bloomberg by the Numbers: 2.8%

    The federal budget deficit will be 2.8 percent of gross domestic product this fiscal year, according to a Congressional Budget Office projection.  That would mark a decline in the deficit from 4.1 percent of the economy in fiscal...

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A guard patrols the Capitol building in Washington, D.C.

Photograph by Pete Marovich/Bloomberg

A guard patrols the Capitol building in Washington, D.C.

Bloomberg by the Numbers: 17.5%

Federal revenues rose 17.5 percent to $144.3 billion last month from $122.8 billion a year earlier. The government’s outlays totaled $337.9 billion, for a monthly deficit of $193.5 billion that was lower than the $203.5 billion deficit the previous February,...

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Workers apply fiberglass to an inboard speed boat mold at the Mastercraft Boat Co. factory in Vonore, Tennessee, on Feb. 4, 2014.

Photograph by Luke Sharrett/Bloomberg

Workers apply fiberglass to an inboard speed boat mold at the Mastercraft Boat Co. factory in Vonore, Tennessee, on Feb. 4, 2014.

Bloomberg by the Numbers: 3%

The federal budget deficit is projected to be 3 percent of gross domestic product in fiscal year 2014, barring changes to laws governing taxes and spending. That translates to a $514 billion deficit, according to a report the Congressional Budget...

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A worker sands a piece of custom furniture at a manufacturing facility in South Elgin, Illinois.

Photograph by Tim Boyle/Bloomberg

A worker sands a piece of custom furniture at a manufacturing facility in South Elgin, Illinois.

Bloomberg by the Numbers: 21%

That’s how much the deficit fell last month compared with November 2012, according to the Treasury Department. Expressed in terms of dollar figures, the deficit fell to $135.2 billion last month from $172.1 billion a year earlier, or a decrease...

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Senate Budget Committee Chairman Patty Murray (D-WA) and House Budget Committee Chairman Paul Ryan (R-WI) arrive for a press conference to announce a bipartisan budget deal, the Bipartisan Budget Act of 2013, at the U.S. Capitol on Dec. 10, 2013 in Washington, DC.

Photograph by T.J. Kirkpatrick/Getty Images

Senate Budget Committee Chairman Patty Murray (D-WA) and House Budget Committee Chairman Paul Ryan (R-WI) arrive for a press conference to announce a bipartisan budget deal, the Bipartisan Budget Act of 2013, at the U.S. Capitol on Dec. 10, 2013 in Washington, DC.

Washington: When it Works

It’s not as big a story, it seems, when Washington works. Instead of weeks of fretting and recrimination over another government shutdown, Congress appears headed in a couple of days to resolution of an agreement negotiated by bipartisan leaders that...

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Douglas Elmendorf, director of the Congressional Budget Office, during a House Budget Committee hearing in 2012

Photograph by Andrew Harrer/Bloomberg

Douglas Elmendorf, director of the Congressional Budget Office, during a House Budget Committee hearing in 2012

103 Ways to Leave Your Deficit

For Paul Simon, it was “50 ways to leave your lover.” For Doug Elmendorf, it’s 103 ways to cut your budget. Which may be about equally difficult. The director of the Congressional Budget Office offered Congress today a long list...

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Completed M88 Hercules heavy recovery vehicles wait for delivery at the BAE Systems Plc Land & Armaments facility in York, Pennsylvania.

Photograph by Andrew Harrer/Bloomberg

Completed M88 Hercules heavy recovery vehicles wait for delivery at the BAE Systems Plc Land & Armaments facility in York, Pennsylvania.

Bloomberg by the Numbers: 38%

That’s how much the federal budget deficit fell in fiscal year 2013 compared with the previous year. The deficit in the 12-month period ending in September was $680 billion, down from $1.089 trillion in fiscal year 2012, according to Treasury...

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Co-chairmen of the National Commission on Fiscal Responsibility and Reform, former Sen. Alan Simpson, right, and Erskine Bowles, left, participate in a Joint Deficit Reduction Committee hearing on Capitol Hill, on November 1, 2011.

Photograph by Mark Wilson/Getty Images

Co-chairmen of the National Commission on Fiscal Responsibility and Reform, former Sen. Alan Simpson, right, and Erskine Bowles, left, participate in a Joint Deficit Reduction Committee hearing on Capitol Hill, on November 1, 2011.

Simpson-Bowles: ‘Witness Protection’

Forget their names: Alan Simpson and Erskine Bowles. “We’re both on the witness protection program now,” said Simpson, the Republican former senator from Wyoming who teamed with Bowles, the Democratic former chief of staff to President Bill Clinton, to navigate...

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