Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
DataPost Government Spending Measuring Federal Expenditures Date last updated: October 5, 2012 Federal Reserve Bank of San Francisco Economic Education Group Government Spending– Did You Know? Federal Government Current Expenditures ($billions, nominal annual values for years shown) $3,703 $4,000 Spending • Like households and firms, the federal government is also a consumer of goods and services $3,500 $3,000 $1,872 $2,500 $2,000 Facts • The BEA reports nominal values of federal government expenditures on an annual and quarterly basis • The measure of government spending shown to the right is part of NIPA (National Income and Product Accounts) Table 3.16, which is published by the Bureau of Economic Analysis (BEA) $1,500 $1,000 $1,259 $590 $500 $0 1980 1990 2000 2010 Source: Bureau of Economic Analysis Relationship • The sheer size of federal government spending makes government expenditures a major component of U.S. gross domestic product (GDP) Note: See PowerPoint file for references DataPost Nominal government spending has grown over time. Its value in 2000 was nearly triple that in 1980. http://www.frbsf.org/education/teachers/datapost/index.html FRBSF Economic Education Group Government Spending by Function 2000 vs. 2011 ($billions, nominal annual values) $4,000 Income Security $3,500 $1,233 Health $3,000 Together, income security and national defense account for over 50% of all federal spending. National Defense $2,500 $940 $2,000 $607 $1,500 $717 $1,000 $0 Nominal spending on health increased 134% between 2000 and 2011. Economic Affairs $402 $500 General Public Service $325 $329 $105 $42 $63 2000 Education $442 $166 $133 $127 Other Overall, nominal federal spending increased 101% between 2000 and 2011. 2011 Source: Bureau of Economic Analysis DataPost http://www.frbsf.org/education/teachers/datapost/index.html FRBSF Economic Education Group Federal Government Current Expenditures Nominal annual values ($billions) through 2011 $4,000 $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 Source: Bureau of Economic Analysis DataPost http://www.frbsf.org/education/teachers/datapost/index.html FRBSF Economic Education Group What Do You Think? 1. In general, how did spending on education in 2000 compare to 2011? (See slide 3) 2. What was total government spending in 2000? In 2011? (See slide 3) 3. What percentage of federal spending went to education in 2000? In 2011? (See slide 3) 4. What was the largest category of government spending in 2000? In 2011? (See slide 3) DataPost http://www.frbsf.org/education/teachers/datapost/index.html FRBSF Economic Education Group