Title: Federal Deficits,
1Federal Deficits, Surpluses, and the National Debt
CHAPTER
23
2EXHIBIT 1
MAJOR STEPS IN THE FEDERAL BUDGETARY PROCESS
3U.S. FEDERAL BUDGET EXPENDITURES, REVENUES, AND
BUDGET SURPLUSES OR DEFICITS, 19602003
EXHIBIT 2
Source Economic Report of the President, 2004,
http//www.access.gpo/eop/index.html, Table B-78.
4U.S. FEDERAL BUDGET EXPENDITURES, REVENUES, AND
BUDGET SURPLUSES OR DEFICITS, 19602003
(Continued)
EXHIBIT 2
Source Economic Report of the President, 2004,
http//www.access.gpo/eop/index.html, Table B-78.
5FEDERAL EXPENDITURES, REVENUES, AND DEFICITS AS A
PERCENTAGE OF GDP, 19852003
EXHIBIT 3
Source Economic Report of the President, 2004,
http//www.gpoaccess.eop/index.html, Table B-79.
6EXHIBIT 4
THE NATIONAL DEBT, 19302003
Source Economic Report of the President, 2004,
http//www.access.gpo/eop/index.html, Tables
B-78, and B-79.
7EXHIBIT 4
THE NATIONAL DEBT, 19302003 (Continued)
Source Economic Report of the President, 2004,
http//www.access.gpo/eop/index.html, Tables
B-78, and B-79.
8AN INTERNATIONAL COMPARISON OF NATIONAL DEBT
RATIOS, 2003
EXHIBIT 5
Source OECD Economic Outlook N. 74, December
2003, http//www.oecd.org/home/htm, Annex Table
16.
9FEDERAL NET INTEREST AS A PERCENTAGE OF GDP,
19402003
EXHIBIT 6
Source Economic Report of the President, 2004,
http//www.access.gpo/eop/index.html, Tables B-1
and B-80.
10EXHIBIT 7
OWNERSHIP OF THE NATIONAL DEBT, 2003
Source Economic Report of the President, 2004,
http//www.access.gpo/eop/index.html, Table B-89.
11EXHIBIT 8
ZERO, PARTIAL, AND COMPLETE CROWDING OUT