Getting federal outlays under control requires going after the big boulders in the budget.
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More cuts in federal outlays might cause investors to turn bearish in the market.
The myriad social insurance schemes known as entitlements now comprise the majority of federal outlays.
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Over the last four decades noninterest federal outlays have averaged 18.7 percent of GDP.
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Over 60% of federal outlays involve wealth redistributions and this will relentlessly rise as baby boomers retire.
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Nigeria's 2012 budget contains the largest amount the country has ever spent on security one-fifth of all federal outlays.
It would require slashing all federal outlays by at least 13 percent and probably more in 2022 alone.
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Federal outlays mean fewer resources for the rest of us, who create those resources in the first place.
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Federal outlays as a percentage of the GDP have grown from 18.4% to 20%, the highest in two decades.
From 1965 to 1969, in contrast, federal outlays increased by 55% total, or 11% per year 7% annually, in real terms.
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Earmarks account for only about 1% to 2% of total federal outlays.
At that point they would account for 27 percent of federal outlays.
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Higher debt also would inflate interest payments, raising federal outlays even more.
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From 1992-2000 Democrat Bill Clinton and (after 1994) a Republican Congress oversaw budgets that cut federal outlays to 18.2% from 22.1% of GDP.
Surely the plummeting in this huge chunk of federal outlays would zero out the deficit, given any further recovery, under the tax-rate status quo.
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The likelihood is that this allegedly emergency spending will become a permanent addition to federal outlays -- increasing pressure for tax increases in the bargain.
Today the public is focused on federal outlays, deficits, and debts.
In other words, absent the one-time increase in federal outlays, economic growth would have been down near the 1.3% rate posted in the second quarter.
Social spending today dwarfs defense, comprising the bulk of federal outlays.
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In 1953 total federal tax receipts were just 18.7% of Gross Domestic Product (GDP) (17.6% On-Budget and 1.1% Off-Budget) while federal outlays were 20.4% of GDP.
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However, this is a relatively small category of federal outlays governed by annual appropriations rather than statutory eligibility and Congress capped future expenditures rather than cut specific outlays.
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Federal environmental, safety and health and economic regulations cost hundreds of billions of dollars every year over and above the costs of the official federal outlays that dominate the policy agenda.
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In 1948, federal outlays equaled 11.6% of GDP.
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To get the number, divide federal outlays by the revenues of the largest U.S. corporation, a status held at various times since 1900 by U.S. Steel, Rockefeller's oil business (now ExxonMobil et al.) and GM.
In 1983, federal outlays, which had been increasing for a dozen years at well over the rate of economic growth, peaked, and then crawled ahead for the next five years at half the rate of economic growth.
Federal outlays must come down significantly and immediately.
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How many Americans realize that federal government outlays have doubled in just the last ten years?
Would a sudden 40% reduction in federal government outlays, equivalent to about 10% of GDP, crash the economy?
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The scale of disasters was steadily rising, and it was taking up an ever-larger portion of federal budget outlays.
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The first and easy cut is simply Federal Interest Outlays as a Fraction of GDP divided by the GDP deflator.
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