| Tax & Spending Increase in the President's budget |
| ($ in trillions) |
| Revenues (taxes) |
FY 2013-22 |
| OMB "adjusted baseline" |
38.391 |
| President's budget |
40.274 |
| Delta (tax increase) |
1.884 |
| FY 2013 President's Revenue Proposals |
| Tax Proposals |
1.561 |
| Outlay Effects of Tax Proposals |
0.157 |
| Receipt Effects of Spending Proposals |
0.191 |
| Temporary Tax Relief |
-0.025 |
| Total |
1.884 |
| Spending (Outlays) |
| OMB "adjusted baseline" |
47.053 |
| President's budget |
46.959 |
| Delta (spending reduction) |
-0.094 |
| Remove Gimmicks1 |
| |
Remove war savings |
0.848 |
| |
Add cost of doc fix |
0.429 |
| |
Add cost of Pell grants |
0.05 |
| |
Debt service (@18%) |
0.239 |
| Total gimmicks |
1.556 |
| Actual spending increase (without gimmicks) |
1.472 |
| Deficits |
| Adjusted baseline deficits |
8.663 |
| Adjusted baseline deficits without gimmicks |
7.097 |
| President's budget deficits |
6.684 |
| Deficit reduction with gimmicks |
-1.979 |
| Deficit reduction without gimmicks |
-0.413 |
| |
| 1Total Gimmicks does not include $80 billion for potential “emergency” spending assumed in the President’s baseline. |
|
