Structure of the Presidents Budget BALANCED DEFICIT JOBS INVESTMENTS - PowerPoint PPT Presentation

Structure of the President’s Budget BALANCED DEFICIT JOBS INVESTMENTS REDUCTION – Skills and – Builds off deficit Competitiveness reduction to date – Education and R&D – Includes Fiscal Cliff compromise offer – All fully paid for – Replaces the sequester

Deficit Reduction to Date Budget Control Act $1,090 B $370 B 2011 Appropriations Fiscal Cliff Agreement $660 B Reduced Interest Payments $480 B Total > $2.5 T

The President's Commitment to Deficit Reduction $4,500 $190 B $4,300 B $50 B $580 B Investment $4,000 $200 B $3,500 $230 B $200 B More than $2 in $3,000 $400 B spending cuts for every $1 of revenue $2,500 Health CPI Discretionary Other Mandatory Revenues from Interest Infrastructure Total savings savings spending tax reform and other

Deficit under the President’s Budget 8% 7% 6% Deficit (% of GDP) 5% 4% 3% 2% 1% 0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023