page_title: Political debates about the United States federal budget
section_title: 2010 Budget Proposal
hierarchical_section_title: Political debates about the United States federal budget / Other debate topics / 2010 Budget Proposal
caption_attribution_description: English: 2010 Budget Deficit vs. Debt increases Source Data 2010 Budget: 2010 Budget - See table S9 for debt and S1 for Deficits 2008-2015 and beyond. 2007 CBO Data: CBO Data - See page 12 of 13 for 2007 deficit
context_page_description: Political debates about the United States federal budget discusses some of the more significant U.S. budgetary debates of the 21st century. These include the causes of debt increases, the impact of tax cuts, specific events such as the United States fiscal cliff, the effectiveness of stimulus, and the impact of the Great Recession, among others. The article explains how to analyze the U.S. budget as well as the competing economic schools of thought that support the budgetary positions of the major parties.
context_section_description: President Barack Obama proposed his 2010 budget during February, 2009. He has indicated that health care, clean energy, education, and infrastructure will be priorities. The proposed increases in the national debt exceed $900 billion each year from 2010–2019, following the Bush administration's outgoing budget which allowed for a $1.4 trillion increase in the national debt for FY 2009.
  Tax cuts will expire for the wealthiest taxpayers to increase revenues, returning marginal rates to the Clinton levels. Further, the base Department of Defense budget increases slightly through 2014 (Table S-7), from $534 to $575 billion, although supplemental appropriations for the Iraq War are expected to be reduced. In addition, estimates of revenue are based on GDP growth assumptions that exceed the Blue Chip Economists' consensus forecast considerably through 2012 (Table S-8).
caption: 2010 Budget: Projected Deficits and Debt Increases
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