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The Congressional Budget Office projected two weeks prior to Obama's first inauguration that the deficit in FY 2009 (a year budgeted by President Bush) would be $1.2 trillion and that the debt increase over the following decade would be $3.1 trillion assuming the expiration of the Bush tax cuts as scheduled in 2010, or around $6.0 trillion if ...
The 2011 United States federal budget was the budget to fund government operations for the fiscal year 2011. The budget was the subject of a spending request by President Barack Obama. [7] [8] The actual appropriations for Fiscal Year 2011 had to be authorized by the Congress before they could take effect, according to the U.S. budget process.
The budget represented a shift from the Obama administration's strategy in previous years of using increased government spending, such as the American Recovery and Reinvestment Act of 2009, to combat the late 2000s recession. The 2012 budget plan was instead projected to reduce deficits by $1.1 trillion over the next ten years.
The Committee for a Responsible Federal Budget estimated that the budget deficit for fiscal year 2020 would increase to a record $3.8 trillion (~$4.41 trillion in 2023), or 18.7% GDP. [119] For scale, in 2009 the budget deficit reached 9.8% GDP ($1.4 trillion nominal dollars) in the depths of the Great Recession.
The United States Federal Budget for Fiscal Year 2010, titled A New Era of Responsibility: Renewing America's Promise, [6] is a spending request by President Barack Obama to fund government operations for October 2009–September 2010.
The 2013 United States federal budget is the budget to fund government operations for the fiscal year 2013, which began on October 1, 2012, and ended on September 30, 2013. . The original spending request was issued by President Barack Obama in February
The United States Federal Budget for fiscal year 2016 began as a budget proposed by President Barack Obama to fund government operations for October 1, 2015 – September 30, 2016. The requested budget was submitted to the 114th Congress on February 2, 2015.
On August 2, 2011, President Obama signed the Budget Control Act of 2011 as part of an agreement with Congress to resolve the debt-ceiling crisis.The Act provided for a Joint Select Committee on Deficit Reduction (the "super committee") to produce legislation by late November that would decrease the deficit by $1.2 trillion over ten years.