Physician, heal thyself.
Comparison of Bush Budget (FY04) with Past Budget Averages
FY04
Proposal |
Post-WWII
Average (FY46 - FY02) |
Clinton
Budgets (FY94 FY01) |
G.H.W. Bush
Budgets (FY90 - FY93) |
Reagan
Budgets (FY82 - FY89) |
|
Total Receipts as percent of GDP |
17.0%
|
17.9%
|
19.4%
|
17.7%
|
18.0%
|
Total outlays as percent of GDP |
19.7%
|
19.5%
|
19.6%
|
22.0%
|
22.3%
|
Deficit (-)/Surplus as percent of GDP |
-2.7%
|
-1.6%
|
-0.1%
|
-4.3%
|
-4.3%
|
Annual growth in total receipts (average % change from previous fiscal year, FY96 $) |
2.7%
|
2.9%
|
4.9%
|
0.5%
|
2.5%
|
Annual growth in total outlays (average % change from previous fiscal year, FY96 $) |
2.2%
|
2.3%
|
1.5%
|
1.9%
|
2.7%
|
Defense spending as a percent of total outlays |
17.5%
|
35.5%
|
17.1%
|
21.7%
|
26.7%
|
Non-defense discretionary spending as a percent of total outlays |
19.2%
|
19.4%*
|
17.6%
|
16.6%
|
17.1%
|
Net interest costs as percent of total outlays |
7.9%
|
10.5%*
|
13.9%
|
14.5%
|
13.2%
|
Other mandatory spending as a percent of total outlays |
55.4%
|
41.6%*
|
51.4%
|
46.2%
|
42.9%
|
Debt held by public at end of fiscal year as percent of GDP |
36.9%
|
44.0%
|
43.0%
|
46.3%
|
36.7%
|
Gross Debt at end of fiscal year as percentof GDP |
64.8%
|
56.2%
|
63.4%
|
61.8%
|
45.4%
|
* includes only data back to 1962 since the distinction between discretionary and mandatory began only in that year. |
To comment on Tax Foundation materials, call 202.464.6200,
e-mail the Tax Foundation at , or
write us at 1900 M Street, N.W., Suite 550, Washington, D.C. 20036
©2004 Tax Foundation