SUMMARY TABLES

169

15,080

1,293
9,019
7,894
14,508

Deficit .......................................................

Debt held by the public ..................................

Debt net of financial assets ...........................

Gross domestic product (GDP) ...........................

8.9%
62.2%
54.4%

Deficit .......................................................

Debt held by the public ..................................

Debt net of financial assets ...........................

1,293
9,019
7,894
8.9%
62.2%
54.4%

In billions of dollars:
Deficit .......................................................
Debt held by the public ...........................
Debt net of financial assets .....................

As a percent of GDP:
Deficit .......................................................
Debt held by the public ...........................
Debt net of financial assets .....................

Memorandum, budget totals with AMT
relief fully paid for:

10.9%

23.8%

10.9%
72.0%
63.0%

1,645
10,856
9,505

63.0%

72.0%

25.3%

14.9%

Receipts ..........................................................
14.4%

10,856

1,645

Outlays ...........................................................

Budget Totals as a Percent of GDP:

9,505

3,456

Outlays ...........................................................
3,819

2,163

2,174

2011

Receipts ..........................................................

Budget Totals in Billions of Dollars:

2010

Table S–1. Budget Totals

7.0%
75.1%
66.9%

1,101
11,881
10,585

66.9%

75.1%

7.0%

23.6%

16.6%

15,813

10,585

11,881

1,101

3,729

2,627

2012

4.6%
76.3%
67.7%

768
12,784
11,344

67.7%

76.3%

4.6%

22.5%

17.9%

16,752

11,344

12,784

768

3,771

3,003

2013

3.6%
76.3%
67.4%

645
13,562
11,988

67.4%

76.3%

3.6%

22.4%

18.7%

17,782

11,988

13,562

645

3,977

3,333

2014

3.1%
75.9%
66.8%

579
14,274
12,567

67.0%

76.1%

3.2%

22.3%

19.1%

18,804

12,595

14,301

607

4,190

3,583

2015

2.4%
75.1%
65.9%

475
14,862
13,041

66.9%

76.1%

3.3%

22.6%

19.3%

19,791

13,243

15,064

649

4,468

3,819

2016

(In billions of dollars and as a percent of GDP)

2.2%
74.3%
65.0%

452
15,419
13,493

66.8%

76.1%

3.0%

22.5%

19.5%

20,755

13,869

15,795

627

4,669

4,042

2017

1.9%
73.5%
64.2%

415
15,932
13,907

66.8%

76.2%

2.9%

22.5%

19.6%

21,679

14,488

16,513

619

4,876

4,257

2018

2.0%
72.8%
63.4%

445
16,467
14,352

67.0%

76.4%

3.0%

22.8%

19.8%

22,624

15,169

17,284

681

5,154

4,473

2019

2.0%
72.1%
62.8%

463
17,015
14,815

67.4%

76.7%

3.1%

23.0%

19.9%

23,608

15,903

18,103

735

5,422

4,686

2020

1.9%
71.3%
62.0%

464
17,568
15,278

67.7%

77.0%

3.1%

23.1%

20.0%

24,633

16,677

18,967

774

5,697

4,923

2021

4.3%

22.7%

18.3%

3,769

20,134

16,366

20122016

3.7%

22.7%

19.0%

7,205

45,952

38,747

20122021

Totals

THE BUDGET FOR FISCAL YEAR 2012

171

Percent of GDP .............................................................

.........

Reauthorize Surface Transportation ..................

14

19
12
*
31

Subtotal, mandatory and revenue proposals ...

Freeze discretionary non-security funding
through 2015 ..........................................................

Debt service and indirect interest effects ...................

Subtotal, mandatory, revenue, and non-security
discretionary proposals ..........................................

3
15
*
17
48
1,645
10.9%

Overseas contingency operations (OCO) ...................

Other security proposals .............................................

Debt service .................................................................

Subtotal, discretionary security proposals ...........

Total deficit reduction ................................................

Resulting deficits in 2012 Budget ............................

Percent of GDP .............................................................

Proposed changes in discretionary security
programs:

9

18

7.0%

1,101

11

3

*

22

–19

8

–*

–6

17

.........

Policy for physicians relief from sustainable
growth rate formula (SGR) ..............................
Other proposed changes in mandatory programs
and user fees ....................................................

–6

.........
–13

23
–17

1
–*

6.9%

1,090

2012

Mandatory and Revenue proposals:
Tax cuts for families and businesses2 ..................
Other revenue changes and loophole closers3 .....
Pay for three years of AMT relief by reducing
the value of certain tax expenditures .............

Mandatory, revenue, and discretionary nonsecurity proposals:

1,597
10.6%

Projected deficits in the adjusted baseline1 ...........

2011

4.6%

768

–79

–64

–*

18

–82

–15

–1

–20

6

2

26

–6

–19

32
–29

5.1%

846

2013

3.6%

645

–125

–90

–3

20

–107

–36

–*

–33

–3

–16

5

–11

–26

30
17

4.3%

770

2014

3.2%

607

–234

–100

–8

22

–115

–134

–3

–47

–84

–29

–5

–13

–30

35
–43

4.5%

841

2015

3.3%

649

–289

–111

–12

21

–120

–178

–10

–47

–121

–25

–6

–10

–33

40
–88

4.7%

938

2016

3.0%

627

–263

–120

–18

20

–123

–143

–17

–50

–76

–29

–7

–7

–36

42
–40

4.3%

890

2017

(Deficit increases (+) or decreases (–) in billions of dollars)

2.9%

619

–272

–130

–23

20

–126

–142

–23

–48

–72

–27

–7

–5

–39

43
–36

4.1%

891

2018

3.0%

681

–278

–140

–29

18

–129

–138

–29

–51

–58

–20

–7

–6

–41

46
–29

4.2%

960

2019

Table S–2. Effect of Budget Proposals on Projected Deficits

3.1%

735

–310

–153

–35

15

–133

–157

–35

–48

–74

–20

–10

–7

–44

49
–42

4.4%

1,045

2020

3.1%

774

–342

–167

–42

11

–136

–176

–42

–57

–77

–21

–14

–9

–47

52
–37

4.5%

1,116

2021

4.3%

3,769

–717

–362

–23

104

–443

–355

–15

–153

–188

–59

37

–53

–114

160
–159

5.1%

4,486

20122016

3.7%

7,205

–2,182

–1,072

–170

188

–1,090

–1,111

–161

–406

–544

–176

–8

–87

–321

392
–344

4.7%

9,387

20122021

Totals

172
SUMMARY TABLES

6

*

2013

36

1

1

35

2014

64

3

8

53

2015

78

6

9

63

2016

94

10

10

73

Savings versus DOD 2011 Future Years Defense
.........
–13
–11
–11
–18
–24
Plan ...........................................................................
* $500 million or less.
1
See tables S-3 and S-7 for information on the adjusted baseline.
2
Includes the effects of continuing certain expiring provisions through calendar year 2012.
3
Includes incentives to promote regional growth, trade initiatives and other tax initiatives on Table S-8.

Memorandum, budget authority savings from
Department of Defense (DOD) request:

*

6

*

*

2012

.........

Additional cost of extending the current estate tax
cut ............................................................................

Debt service ..................................................................
Total, costs avoided by allowing upper-income
tax cuts to expire ..............................................

.........

Additional cost of extending the 2001 and 2003 tax
cuts for high-income taxpayers ...............................

Memorandum, costs avoided by allowing upperincome tax cuts to expire:

2011

14

12

82

n/a

108

2017

(Deficit increases (+) or decreases (–) in billions of dollars)

19

13

89

n/a

121

2018

25

14

96

n/a

134

2019

n/a

149

31

15

102

2020

Table S–2. Effect of Budget Proposals on Projected Deficits—Continued

n/a

163

38

16

109

2021

–78

278

19

28

230

20122016

n/a

953

147

98

709

20122021

Totals

THE BUDGET FOR FISCAL YEAR 2012

173

701
446
273
–110
644
1,954
196
.........
3,456

Subtotal, mandatory programs ........................

Net interest ...................................................................

Disaster costs 3 ................................................................

Total outlays ...........................................................
899
191
632
180
45
8
67
19
25
76
21
2,163
1,293
196
1,097

Individual income taxes ................................................

Corporation income taxes .............................................

Social insurance and retirement receipts:
Social Security payroll taxes ................................
Medicare payroll taxes ..........................................
Unemployment insurance ......................................
Other retirement ....................................................

Excise taxes ...................................................................

Estate and gift taxes .....................................................

Customs duties ..............................................................

Deposits of earnings, Federal Reserve System ............

Other miscellaneous receipts .......................................

Total receipts ..........................................................

Deficit ................................................................................

Net interest ...................................................................

Primary deficit ...........................................................

Receipts:

1,386

1,306

Subtotal, appropriated programs .....................

Mandatory programs:
Social Security ........................................................
Medicare .................................................................
Medicaid ..................................................................
Troubled Asset Relief Program (TARP) 2 ...............
Other mandatory programs ...................................

1,392

205

1,597

2,174

19

80

28

12

74

559
187
52
8

198

956

3,771

2

205

2,177

727
488
276
–28
713

891
496

2011

815
491

Appropriated (“discretionary”) programs:
Security ...................................................................
Non-security ...........................................................

Outlays:

2010

850

240

1,090

2,609

20

66

31

13

80

660
202
57
8

327

1,145

3,699

6

240

2,109

761
468
269
13
598

1,344

881
462

2012

525

322

846

2,959

20

47

34

14

87

732
217
64
8

397

1,339

3,805

8

322

2,150

802
501
289
10
548

1,326

882
444

2013

349

421

770

3,305

53

38

36

23

98

776
236
68
8

478

1,491

4,075

8

421

2,306

847
529
354
5
571

1,339

895
444

2014

(In billions of dollars)

336

505

841

3,487

69

37

39

26

103

820
250
71
9

435

1,628

4,328

9

505

2,455

895
554
394
4
608

1,359

910
449

2015

354

584

938

3,679

73

41

40

28

105

874
267
74
9

403

1,765

4,617

10

584

2,640

947
601
431
2
659

1,383

928
455

2016

229

661

890

3,942

75

45

43

30

109

919
282
70
9

462

1,898

4,831

10

661

2,750

1,004
617
462
1
666

1,410

948
462

2017

Table S–3. Adjusted Baseline by Category 1

160

730

891

4,159

79

47

45

33

115

968
297
71
9

467

2,028

5,049

10

730

2,866

1,065
637
493
*
672

1,443

970
473

2018

162

798

960

4,386

84

49

48

35

125

1,017
312
72
9

478

2,157

5,346

10

798

3,061

1,129
692
528
*
712

1,477

992
485

2019

182

863

1,045

4,584

90

52

51

38

129

1,059
325
70
10

480

2,282

5,629

10

863

3,245

1,199
742
563
*
741

1,512

1,015
497

2020

189

928

1,116

4,820

96

53

53

40

134

1,112
342
73
10

502

2,404

5,936

10

928

3,450

1,272
792
606
.........
780

1,548

1,039
509

2021

2,414

2,072

4,486

16,038

235

230

181

103

473

3,861
1,171
334
42

2,039

7,368

20,524

42

2,072

11,660

4,252
2,653
1,737
34
2,984

6,751

4,497
2,254

2012–
2016

3,336

6,051

9,387

37,928

659

476

420

279

1,084

8,937
2,730
690
89

4,428

18,136

47,316

92

6,051

27,032

9,922
6,133
4,387
35
6,555

14,141

9,460
4,680

2012–
2021

Totals

174
SUMMARY TABLES

–77

Off-budget surplus (–) ...................................................

402

Non-security .................................................................
382

848

–56

1,653

2011

424

864

–77

1,168

2012

425

882

–82

928

2013

435

901

–89

859

2014

444

921

–93

934

2015

454

941

–106

1,044

2016

465

963

–105

995

2017

476

985

–107

997

2018

488

1,008

–103

1,063

2019

500

1,032

–88

1,133

2020

513

1,056

–78

1,195

2021

2,183

4,510

–447

4,934

2012–
2016

4,625

9,554

–928

10,316

2012–
2021

Totals

Total, appropriated funding ...................................
1,258 1,231 1,287 1,307 1,337 1,366 1,396 1,428 1,461 1,496 1,532 1,569
6,693
14,179
* $500 million or less.
1
See Table S–7 for information on adjustments to the Budget Enforcement Act (BEA) baseline.
2
Outlays for TARP in 2011 and subsequent years result from obligations incurred through October 3, 2010 for the Home Affordable Modification
3
These amounts represent a placeholder for major disasters requiring Federal assistance for relief and reconstruction. Such assistance might be provided in the form of
discretionary or mandatory outlays or tax relief. These amounts are included as outlays for convenience.

856

Security ..........................................................................

Memorandum, budget authority for appropriated
programs:

1,370

On-budget deficit ...........................................................

2010

(In billions of dollars)

Table S–3. Adjusted Baseline by Category—Continued

THE BUDGET FOR FISCAL YEAR 2012

175

701
446
273
–110
644
1,954
196
.........
3,456

Subtotal, mandatory programs ...........................

Net interest ......................................................................

Disaster costs 2 ..................................................................

Total outlays ..............................................................
899
191
632
180
45
8
67
19
25
76
21
2,163
1,293
196
1,097

Individual income taxes ...................................................

Corporation income taxes ................................................

Social insurance and retirement receipts:
Social Security payroll taxes ...................................
Medicare payroll taxes .............................................
Unemployment insurance .........................................
Other retirement .......................................................

Excise taxes ......................................................................

Estate and gift taxes ........................................................

Customs duties .................................................................

Deposits of earnings, Federal Reserve System ...............

Other miscellaneous receipts ..........................................

Total receipts .............................................................

Deficit ...................................................................................

Net interest ......................................................................

Primary deficit/surplus (–) .........................................

Receipts:

1,416

1,306

Subtotal, appropriated programs ........................

Mandatory programs:
Social Security ...........................................................
Medicare ....................................................................
Medicaid .....................................................................
Troubled Asset Relief Program (TARP) 1 ..................
Other mandatory programs ......................................

1,438

207

1,645

2,174

19

80

28

12

74

559
187
52
8

198

956

3,819

2

207

2,194

742
488
276
–28
716

908
507

2011

815
491

Appropriated (“discretionary”) programs:
Security ......................................................................
Non-security .............................................................

Outlays:

2010

860

242

1,101

2,627

20

66

30

14

103

659
201
57
8

329

1,141

3,729

6

242

2,140

761
485
269
13
612

1,340

884
456

2012

447

321

768

3,003

21

47

33

15

121

730
217
61
8

405

1,344

3,771

8

321

2,199

802
528
288
10
573

1,243

819
423

2013

227

418

645

3,333

53

38

36

25

138

772
235
79
8

440

1,508

3,977

8

418

2,331

846
557
352
5
570

1,220

808
412

2014

(In billions of dollars)

112

494

607

3,583

69

37

38

28

145

815
250
89
9

455

1,648

4,190

9

494

2,467

894
582
391
4
596

1,220

818
402

2015

87

562

649

3,819

73

41

39

30

149

870
268
88
9

467

1,786

4,468

10

562

2,659

945
631
427
2
654

1,237

829
408

2016

–*

627

627

4,042

75

45

41

32

155

915
282
87
9

479

1,923

4,669

10

627

2,774

1,002
650
457
1
665

1,258

845
413

2017

Table S–4. Proposed Budget by Category

–66

685

619

4,257

79

47

44

35

164

963
297
83
9

479

2,056

4,876

10

685

2,892

1,062
672
488
*
671

1,289

863
426

2018

–59

741

681

4,473

85

49

47

37

176

1,014
313
73
9

482

2,187

5,154

10

741

3,090

1,126
732
522
*
709

1,314

880
434

2019

–58

793

735

4,686

91

52

49

40

182

1,056
326
72
10

495

2,315

5,422

10

793

3,273

1,196
785
557
*
736

1,346

897
449

2020

–70

844

774

4,923

97

53

52

43

189

1,109
343
75
10

512

2,439

5,697

10

844

3,475

1,269
840
595
.........
771

1,367

914
453

2021

1,732

2,037

3,769

16,366

237

230

176

111

656

3,845
1,171
375
42

2,096

7,427

20,134

42

2,037

11,797

4,248
2,783
1,727
34
3,004

6,259

4,158
2,101

20122016

1,479

5,726

7,205

38,747

663

476

408

299

1,522

8,901
2,733
765
89

4,544

18,346

45,952

92

5,726

27,302

9,902
6,462
4,345
35
6,557

12,833

8,559
4,275

20122021

Totals

176
SUMMARY TABLES

–77

Off-budget surplus (–) ......................................................

402

Non-security ....................................................................
401

879

–58

1,703

2011

397

846

–76

1,177

2012

397

791

–81

848

2013

397

811

–86

730

2014

397

828

–90

697

2015

406

846

–104

753

2016

415

861

–102

729

2017

427

878

–104

723

2018

438

894

–102

784

2019

454

911

–87

823

2020

457

929

–78

852

2021

1,993

4,122

–437

4,205

20122016

4,182

8,595

–910

8,115

20122021

Totals

Total, appropriated funding ......................................
1,258 1,280 1,243 1,188 1,208 1,225 1,252 1,276 1,304 1,332 1,365 1,385
6,115 12,777
* $500 million or less.
1
Outlays for TARP in 2011 and subsequent years result from obligations incurred through October 3, 2010 for the Home Affordable Modification Program and other TARP
programs.
2
These amounts represent a placeholder for major disasters requiring Federal assistance for relief and reconstruction. Such assistance might be provided in the form of
discretionary or mandatory outlays or tax relief. These amounts are included as outlays for convenience.

856

Security .............................................................................

Memorandum, budget authority for appropriated
programs:

1,370

On-budget deficit ..............................................................

2010

(In billions of dollars)

Table S–4. Proposed Budget by Category—Continued

THE BUDGET FOR FISCAL YEAR 2012

177

4.8
3.1
1.9
–0.8
4.4
13.5
1.4
.........
23.8

Subtotal, mandatory programs ..................

Net interest .............................................................

Disaster costs 2 .........................................................

Total outlays .....................................................
6.2
1.3
4.4
1.2
0.3
0.1
0.5
0.1
0.2
0.5
0.1
14.9
8.9
1.4
7.6

Individual income taxes ..........................................

Corporation income taxes .......................................

Social insurance and retirement receipts:
Social Security payroll taxes ..........................
Medicare payroll taxes ....................................
Unemployment insurance ................................
Other retirement ..............................................

Excise taxes .............................................................

Estate and gift taxes ...............................................

Customs duties ........................................................

Deposits of earnings, Federal Reserve System ......

Other miscellaneous receipts .................................

Total receipts ....................................................

Deficit ..........................................................................

Net interest .............................................................

Primary deficit/surplus (–) ................................

Receipts:

9.4

9.0

Subtotal, appropriated programs ...............

Mandatory programs:
Social Security ..................................................
Medicare ...........................................................
Medicaid ............................................................
Troubled Asset Relief Program (TARP) 1 .........
Other mandatory programs .............................

9.5

1.4

10.9

14.4

0.1

0.5

0.2

0.1

0.5

3.7
1.2
0.3
0.1

1.3

6.3

25.3

*

1.4

14.5

4.9
3.2
1.8
–0.2
4.7

6.0
3.4

2011

5.6
3.4

Appropriated (“discretionary”) programs:
Security .............................................................
Non-security ....................................................

Outlays:

2010

5.4

1.5

7.0

16.6

0.1

0.4

0.2

0.1

0.7

4.2
1.3
0.4
0.1

2.1

7.2

23.6

*

1.5

13.5

4.8
3.1
1.7
0.1
3.9

8.5

5.6
2.9

2012

2.7

1.9

4.6

17.9

0.1

0.3

0.2

0.1

0.7

4.4
1.3
0.4
0.1

2.4

8.0

22.5

*

1.9

13.1

4.8
3.1
1.7
0.1
3.4

7.4

4.9
2.5

2013

1.3

2.3

3.6

18.7

0.3

0.2

0.2

0.1

0.8

4.3
1.3
0.4
*

2.5

8.5

22.4

*

2.3

13.1

4.8
3.1
2.0
*
3.2

6.9

4.5
2.3

2014

(As a percent of GDP)

0.6

2.6

3.2

19.1

0.4

0.2

0.2

0.1

0.8

4.3
1.3
0.5
*

2.4

8.8

22.3

*

2.6

13.1

4.8
3.1
2.1
*
3.2

6.5

4.3
2.1

2015

0.4

2.8

3.3

19.3

0.4

0.2

0.2

0.2

0.8

4.4
1.4
0.4
*

2.4

9.0

22.6

*

2.8

13.4

4.8
3.2
2.2
*
3.3

6.2

4.2
2.1

2016

–*

3.0

3.0

19.5

0.4

0.2

0.2

0.2

0.7

4.4
1.4
0.4
*

2.3

9.3

22.5

*

3.0

13.4

4.8
3.1
2.2
*
3.2

6.1

4.1
2.0

2017

–0.3

3.2

2.9

19.6

0.4

0.2

0.2

0.2

0.8

4.4
1.4
0.4
*

2.2

9.5

22.5

*

3.2

13.3

4.9
3.1
2.2
*
3.1

5.9

4.0
2.0

2018

–0.3

3.3

3.0

19.8

0.4

0.2

0.2

0.2

0.8

4.5
1.4
0.3
*

2.1

9.7

22.8

*

3.3

13.7

5.0
3.2
2.3
*
3.1

5.8

3.9
1.9

2019

Table S–5. Proposed Budget by Category as a Percent of GDP

–0.2

3.4

3.1

19.9

0.4

0.2

0.2

0.2

0.8

4.5
1.4
0.3
*

2.1

9.8

23.0

*

3.4

13.9

5.1
3.3
2.4
*
3.1

5.7

3.8
1.9

2020

–0.3

3.4

3.1

20.0

0.4

0.2

0.2

0.2

0.8

4.5
1.4
0.3
*

2.1

9.9

23.1

*

3.4

14.1

5.2
3.4
2.4
.........
3.1

5.6

3.7
1.8

2021

2.1

2.3

4.3

18.3

0.3

0.3

0.2

0.1

0.7

4.3
1.3
0.4
*

2.4

8.3

22.7

*

2.3

13.3

4.8
3.1
1.9
*
3.4

7.1

4.7
2.4

20122016

0.9

2.7

3.7

19.0

0.3

0.2

0.2

0.1

0.7

4.4
1.3
0.4
*

2.3

9.0

22.7

*

2.7

13.5

4.9
3.2
2.1
*
3.3

6.5

4.3
2.2

20122021

Averages

178
SUMMARY TABLES

–0.5

Off-budget surplus (–) .............................................

2.8

Non-security ...........................................................
2.7

5.8

–0.4

11.3

2011

2.5

5.3

–0.5

7.4

2012

2.4

4.7

–0.5

5.1

2013

2.2

4.6

–0.5

4.1

2014

2.1

4.4

–0.5

3.7

2015

2.1

4.3

–0.5

3.8

2016

2.0

4.1

–0.5

3.5

2017

2.0

4.0

–0.5

3.3

2018

1.9

4.0

–0.5

3.5

2019

1.9

3.9

–0.4

3.5

2020

1.9

3.8

–0.3

3.5

2021

2.3

4.7

–0.5

4.8

20122016

2.1

4.3

–0.5

4.1

20122021

Averages

Subtotal, appropriated programs ....................
8.7
8.5
7.9
7.1
6.8
6.5
6.3
6.1
6.0
5.9
5.8
5.6
6.9
6.4
*0.05 percent of GDP or less.
1
Outlays for TARP in 2011 and subsequent years result from obligations incurred through October 3, 2010 for the Home Affordable Modification Program and other TARP
programs.
2
These amounts represent a placeholder for major disasters requiring Federal assistance for relief and reconstruction. Such assistance might be provided in the form of
discretionary or mandatory outlays or tax relief. These amounts are included as outlays for convenience.

5.9

Security ....................................................................

Memorandum, budget authority for
appropriated programs:

9.4

On-budget deficit .....................................................

2010

(As a percent of GDP)

Table S–5. Proposed Budget by Category as a Percent of GDP—Continued

THE BUDGET FOR FISCAL YEAR 2012

179

779
513
280
9
556
2,137

761
485
269
13
612
2,140
242
6
3,729

Subtotal, mandatory programs ....................................................................

Net interest ................................................................................................................

Disaster costs 2 ............................................................................................................

Total outlays .......................................................................................................
1,141
329
659
201
57
8
103
14
30
66
20
2,627
1,101
242
860

Individual income taxes .............................................................................................

Corporation income taxes ..........................................................................................

Social insurance and retirement receipts:
Social Security payroll taxes ............................................................................
Medicare payroll taxes ......................................................................................
Unemployment insurance ..................................................................................
Other retirement ................................................................................................

Excise taxes ................................................................................................................

Estate and gift taxes ..................................................................................................

Customs duties ...........................................................................................................

Deposits of earnings, Federal Reserve System .........................................................

Other miscellaneous receipts ....................................................................................

Total receipts ......................................................................................................

Deficit ............................................................................................................................

Net interest ................................................................................................................

Primary deficit/surplus (–) ...................................................................................

Receipts:

1,207

1,340

Subtotal, appropriated programs .................................................................

Mandatory programs:
Social Security ....................................................................................................
Medicare .............................................................................................................
Medicaid ..............................................................................................................
Troubled Asset Relief Program (TARP) 1 ...........................................................
Other mandatory programs ...............................................................................

434

312

746

2,918

20

46

32

14

118

709
211
59
8

394

1,306

3,664

8

312

796
411

2013

884
456

Appropriated (“discretionary”) programs:
Security ...............................................................................................................
Non-security ......................................................................................................

Outlays:

2012

214

394

608

3,146

50

36

34

24

130

728
222
75
8

415

1,424

3,754

8

394

2,200

799
526
332
5
538

1,152

763
389

2014

103

453

556

3,283

63

34

35

25

133

747
229
82
8

417

1,510

3,839

8

453

2,260

819
533
358
4
546

1,117

749
368

2015

(In billions of constant dollars, adjusted for population growth)

77

500

577

3,397

65

36

35

27

132

774
238
78
8

415

1,588

3,974

8

500

2,365

841
561
380
2
582

1,100

737
363

2016

–*

541

541

3,486

65

38

36

28

134

789
243
75
8

413

1,658

4,027

9

541

2,393

864
561
394
1
574

1,085

729
356

2017

–55

573

518

3,563

66

40

37

29

137

806
249
70
8

401

1,720

4,081

8

573

2,421

889
563
408
*
561

1,079

722
356

2018

–48

601

553

3,632

69

40

38

30

143

823
254
59
8

392

1,776

4,185

8

601

2,508

914
594
424
*
576

1,067

715
352

2019

Table S–6. Proposed Budget in Population- and Inflation-Adjusted Dollars

–45

624

579

3,692

71

41

39

32

143

832
257
56
8

390

1,823

4,271

8

624

2,578

942
618
439
*
579

1,060

707
353

2020

–54

645

591

3,763

74

41

39

33

145

847
262
58
8

392

1,865

4,354

8

645

2,656

970
642
455
.........
590

1,045

699
346

2021

180
SUMMARY TABLES

–76

397
1,243

Non-security ..............................................................................................................

Subtotal, appropriated programs ......................................................................
1,154

385

769

–78

824

2013

1,140

374

766

–81

689

2014

1,122

363

759

–83

639

2015

1,113

361

752

–93

669

2016

1,101

358

743

–88

629

2017

1,092

357

735

–87

605

2018

1,081

355

726

–83

636

2019

1,075

357

718

–69

648

2020

1,059

349

710

–60

651

2021

Memorandum, index of population growth and inflation ................................
1.00
1.03
1.06
1.09
1.12
1.16
1.19
1.23
1.27
1.31
*$500 million or less.
1
Outlays for TARP in 2011 and subsequent years result from obligations incurred through October 3, 2010 for the Home Affordable Modification Program and other TARP
programs.
2
These amounts represent a placeholder for major disasters requiring Federal assistance for relief and reconstruction. Such assistance might be provided in the form of
discretionary or mandatory outlays or tax relief. These amounts are included as outlays for convenience.

846

Security .......................................................................................................................

Memorandum, budget authority for appropriated programs:

1,177

On-budget deficit ........................................................................................................

Off-budget surplus (–) ................................................................................................

2012

(In billions of constant dollars, adjusted for population growth)

Table S–6. Proposed Budget in Population- and Inflation-Adjusted Dollars—Continued

THE BUDGET FOR FISCAL YEAR 2012

181

.........
.........
.........
.........

.........

Extend estate, gift, and generation-skipping
transfer taxes at 2009 parameters .......................

Reflect incremental cost of funding existing Pell
maximum grant award .........................................

Subtotal ...............................................................

Adjustment to reflect costs of possible
emergencies1 ...........................................................

41
.........
.........
.........
.........
1,293

Add outlays to mandatory category .........................

Subtotal ...............................................................

Total program adjustments ......................................

Debt service on adjustments ....................................

Total adjustments ...............................................

Adjusted baseline deficit ..........................................

1,597

4

*

4

.........

47

–47

2

1

.........

1

.........

.........

1,593

2011

1,090

54

*

54

.........

54

–54

6

48

12

2

1

33

1,036

2012

846

204

4

200

.........

51

–51

8

192

12

5

69

106

643

2013

770

307

15

292

.........

60

–60

8

284

12

24

142

106

463

2014

841

345

30

315

.........

61

–61

9

306

12

26

144

124

496

2015

938

386

47

339

.........

62

–62

10

329

12

29

146

142

552

2016

890

429

66

364

.........

64

–64

10

354

12

32

148

162

460

2017

891

474

85

388

.........

67

–67

10

378

12

35

149

183

417

2018

960

522

107

415

.........

68

–68

10

405

12

37

150

206

438

2019

1,045

573

131

442

.........

70

–70

10

432

12

39

151

230

472

2020

1,116

628

157

471

.........

70

–70

10

461

12

42

152

256

488

2021

4,486

1,297

97

1,200

.........

287

–287

42

1,159

58

86

501

512

3,189

2012–
2016

9,387

3,923

642

3,280

.........

627

–627

92

3,189

118

270

1,250

1,550

5,465

2012–
2021

Totals

*$500 million or less.
1
These amounts represent a placeholder for major disasters requiring Federal assistance for relief and reconstruction. Such assistance might be provided in the form of
discretionary or mandatory outlays or tax relief. These amounts are included as outlays for convenience.

–41

Remove outlays from appropriated category ...........

Reclassify surface transportation outlays:

.........

Index to inflation the 2011 parameters of the AMT ....

1,293

Continue the 2001 and 2003 tax cuts for middleincome taxpayers ..................................................

Adjustments to baseline:

BEA baseline deficit ...................................................

2010

(Deficit increases (+) or decreases (–) in billions of dollars)

Table S–7. Bridge From Budget Enforcement Act
Baseline to Adjusted Baseline

182
SUMMARY TABLES

.........
.........
.........
7,868

.........
.........
.........
.........
.........

Total, tax cuts for families and
individuals ..............................................

4,610
284
450

.........
.........
.........
.........

Total, tax cuts for businesses .....................

5
279

1
.........
43

866

Total, incentives to promote regional
growth .....................................................

Continue certain expiring provisions
through calendar year 20121 .......................

9,959

348

62
2

41
1

Incentives to promote regional growth:
Extend and modify the New Markets tax
credit .............................................................
Reform and extend Build America bonds1 ......
Reform and expand the Low-Income Housing
Tax Credit (LIHTC) .....................................
Designate Growth Zones1 ................................

5,344

.........

.........

Tax Cuts for Businesses:
Eliminate capital gains taxation on
investments in small business stock...........
Enhance and make permanent the research
and experimentation tax credit ...................
Provide additional tax credits for investment
in qualified property used in a qualified
advanced energy manufacturing project ....
Provide tax credit for energy efficient
commercial building property expenditures
in place of existing tax deduction................

8,151

.........
283

.........
.........

2012

Tax Cuts for Families and Individuals:
Extend earned income tax credit for larger
families1 ........................................................
Expand child and dependent care tax credit1 ...
Provide for automatic enrollment in IRAs,
including employer tax credit, and double
the tax credit for small employer plan
startup costs1 ................................................
Extend American opportunity tax credit1 .......
Provide exclusion from income for student
loan forgiveness ...........................................
Tax qualified dividends and net long-term
capital gains at a 20-percent rate for
upper-income taxpayers ..............................

Tax Provisions:

2011

10,459

997

16
863

116
2

9,219

425

731

8,063

.........

11,994

9,582

.........

638
650

81
1,043

2013

734

1,077

32
860

183
2

10,073

100

1,089

8,884

.........

19,687

5,405

.........

1,043
10,772

1,422
1,045

2014

372

1,129

52
839

234
4

10,871

25

1,138

9,708

.........

23,832

9,416

.........

1,100
10,832

1,442
1,042

2015

158

1,152

71
815

263
3

11,123

25

578

10,520

.........

28,264

12,964

.........

1,240
11,552

1,469
1,039

2016

61

555

94
186

272
3

11,621

.........

120

11,318

183

30,213

14,688

.........

1,448
11,533

1,509
1,035

2017

(Deficit increases (+) or decreases (–) in millions of dollars)

95

.........

116
–383

264
3

12,596

.........

–73

12,103

566

30,767

15,119

.........

1,704
11,364

1,544
1,036

2018

Table S–8. Mandatory and Receipt Proposals

122

11

139
–374

243
3

13,827

.........

–115

12,887

1,055

32,324

15,586

.........

2,015
12,111

1,579
1,033

2019

169

6

162
–329

170
3

15,209

.........

–64

13,686

1,587

33,294

16,158

.........

2,381
12,117

1,610
1,028

2020

192

–22

185
–273

63
3

16,498

.........

–27

14,499

2,026

35,037

16,885

.........

2,809
12,665

1,657
1,021

2021

21,682

4,703

176
3,656

858
13

46,630

1,025

3,820

41,785

.........

91,928

45,235

.........

4,021
33,806

4,414
4,452

2012–
2016

22,321

5,253

872
2,483

1,870
28

116,381

1,025

3,661

106,278

5,417

253,563

123,671

.........

14,378
93,596

12,313
9,605

2012–
2021

Totals

THE BUDGET FOR FISCAL YEAR 2012

183

.........
.........
.........

Tax currently excess returns associated
with transfers of intangibles offshore ...

Limit shifting of income through
intangible property transfers.................

–47

.........

–29

–1,204

–2,655

–2,986

.........

.........

.........

–1,375

.........

Determine the foreign tax credit on a
pooling basis ...........................................

–35

.........

Defer deduction of interest expense
related to deferred income .....................

–159
–1,374

–36
.........

–144

–6

.........

–9

–35

Require ordinary treatment of income
from day-to-day dealer activities for
certain dealers of equity options and
commodities ............................................

2013

2014

2015

2016

2017

2018

2019

2020

2021
2012–
2016

2012–
2021

Totals

–63

–2,038

–4,568

–5,138

–79

–2,598

–1,413

–46

–1,253
–1,926

–15

–226

–12

–1,000

–90

–2,114

–4,798

–5,396

–81

–5,649

–1,449

–46

–3,275
–2,038

–16

–240

–19

–3,000

–118

–2,212

–5,011

–5,636

–84

–6,484

–1,477

–46

–3,297
–2,093

–17

–254

–26

–3,000

–148

–2,280

–5,211

–5,861

–86

–6,457

–1,503

–46

–3,320
–2,144

–17

–270

–33

–3,000

–178

–2,290

–5,406

–6,080

–89

–6,435

–1,526

–46

–4,340
–2,185

–18

–286

–36

–4,000

–209

–2,231

–5,601

–3,114

–92

–6,387

–1,543

–46

–4,360
–2,212

–19

–303

–38

–4,000

–242

–2,158

–5,810

–1,103

–94

–6,337

–1,558

–47

–4,381
–2,246

–20

–321

–40

–4,000

–276

–2,138

–6,051

–1,149

–97

–6,293

–1,577

–46

–4,404
–2,272

–21

–341

–42

–4,000

–74

–1,134

–96

–7,217

–219

–377

–315

–2,166

–448

–9,848

–6,333 –22,243

–1,202 –25,017

–100

–6,240 –21,188

–1,594

–47

–4,427 –11,304
–2,329 –9,575

–22

–361

–44

–4,000 –10,000

–1,668

–20,831

–51,444

–37,665

–849

–52,880

–15,015

–451

–33,216
–20,819

–174

–2,746

–296

–30,000

–6,008 –18,996 –26,418 –29,766 –32,696 –35,699 –38,644 –41,496 –44,388 –47,180 –113,884 –321,291

2012

.........

–1

Modify the definition of “control” for
purposes of section 249 of the Internal
Revenue Code .........................................
Total, reform treatment of financial
institutions and products..................
Reinstate Superfund taxes ..............................
Increase Oil Spill Liability Trust Fund
financing rate by one cent ...........................
Make unemployment insurance surtax
permanent ....................................................
Repeal LIFO method of accounting for
inventories ....................................................
Repeal gain limitation for dividends received
in reorganization exchanges........................
Reform U.S. international tax system:

.........

Require accrual of income on forward sale
of corporate stock ....................................

.........

Impose a financial crisis responsibility
fee ............................................................

Other Revenue Changes and Loophole
Closers:
Reform treatment of financial institutions
and products:

Reduce the value of certain tax expenditures.....

Pay for Three Years of AMT Relief:

2011

(Deficit increases (+) or decreases (–) in millions of dollars)

Table S–8. Mandatory and Receipt Proposals—Continued

184
SUMMARY TABLES

Total, eliminate coal preferences ......
Eliminate oil and gas preferences:
Repeal enhanced oil recovery credit.....
Repeal credit for oil and gas produced
from marginal wells ..........................
Repeal expensing of intangible drilling
costs ...................................................
Repeal deduction for tertiary injectants....
Repeal exception to passive loss
limitations for working interests in
oil and natural gas properties ..........

–918

–364

–223

2013

–974

–382

–237

2014

–1,031

–401

–250

2015

–1,085

–421

–264

2016

–1,138

–442

–277

2017

–1,190

–464

–289

2018

–1,242

–487

–302

2019

–1,296

–512

–315

2020

–1,352

–537

–328

2021

–4,540

–1,780

–1,103

2012–
2016

–10,758

–4,222

–2,614

2012–
2021

Totals

.........
–1,875
–6
–23

.........
.........
.........

–20

.........

.........

–11

–6

.........

–78

.........

.........

–27

.........

–136

–201

.........

–6

–21

–172

–8

–27

–2,512
–10

.........

.........

–222

–35

–13

–129

–45

–578

–71

–465

–42

–24

–1,762
–10

.........

.........

–236

–38

–22

–129

–47

–810

–181

–547

–82

–22

–1,403
–10

.........

.........

–249

–39

–31

–130

–49

–949

–273

–579

–97

–21

–1,331
–10

.........

.........

–265

–41

–38

–135

–51

–1,153

–433

–605

–115

–19

–1,124
–10

.........

.........

–276

–44

–43

–139

–50

–1,393

–652

–607

–134

–18

–830
–9

.........

.........

–285

–45

–47

–145

–48

–1,639

–900

–585

–154

–17

–640
–9

.........

.........

–295

–48

–51

–149

–47

–2,012

–1,280

–555

–177

–16

–523
–9

.........

.........

–303

–49

–55

–154

–45

–2,445

–1,714

–528

–203

–16

–447
–9

.........

.........

–312

–51

–58

–165

–38

–2,900

–2,166

–503

–231

–117

–8,883
–46

.........

.........

–1,108

–173

–115

–601

–219

–3,691

–979

–2,368

–344

–203

–12,447
–92

.........

.........

–2,579

–410

–369

–1,353

–447

–14,080

–7,691

–5,146

–1,243

–7,747 –13,312 –13,991 –14,659 –15,270 –15,811 –13,098 –11,344 –11,737 –12,233 –64,979 –129,202

–532

–212

–129

2012

.........

.........

Modify dividends-received deduction
for life insurance company separate
accounts ..................................................

Expand pro-rata interest expense
disallowance for corporate-owned life
insurance (COLI) ....................................
Total, reform treatment of insurance
companies and products ...................
Eliminate fossil fuel tax preferences:
Eliminate coal preferences:
Repeal expensing of exploration and
development costs .............................
Repeal percentage depletion for hard
mineral fossil fuels ............................
Repeal capital gains treatment for
royalties .............................................
Repeal domestic manufacturing
deduction for coal and other hard
mineral fossil fuels ............................

.........

Modify rules that apply to sales of life
insurance contracts ................................

.........

.........

.........

Limit earnings stripping by expatriated
entities ....................................................

Modify tax rules for dual capacity
taxpayers.................................................
Total, reform U.S. international tax
system ................................................
Reform treatment of insurance companies
and products:

.........

Disallow the deduction for excess nontaxed reinsurance premiums paid to
affiliates ..................................................

2011

(Deficit increases (+) or decreases (–) in millions of dollars)

Table S–8. Mandatory and Receipt Proposals—Continued

THE BUDGET FOR FISCAL YEAR 2012

185

Total, expand information reporting.
Improve compliance by businesses:
Require greater electronic filing of returns
Authorize the Department of the
Treasury to require additional
information to be included in
electronically filed Form 5500
Annual Reports .................................
Implement standards clarifying when
employee leasing companies can be
held liable for their clients’ Federal
employment taxes .............................

Total, eliminate fossil fuel tax
preferences ..............................................
Tax carried (profits) interests as ordinary
income...........................................................
Deny deduction for punitive damages ............
Repeal lower-of-cost-or-market inventory
accounting method .......................................
Simplify the tax code .......................................
Reduce the tax gap and make reforms:
Expand information reporting:
Repeal and modify information
reporting on payments to
corporations and payments for
property .............................................
Require information reporting for
private separate accounts of life
insurance companies .........................
Require a certified Taxpayer
Identification Number from
contractors and allow certain
withholding........................................

Repeal percentage depletion for oil and
natural gas wells ...............................
Repeal domestic manufacturing
deduction for oil and natural gas
companies ..........................................
Increase geological and geophysical
amortization period for independent
producers to seven years...................
Total, eliminate oil and gas
preferences .....................................

.........

–4

.........

.........

–48

–21

.........

.........

.........

.........

475

.........

427

.........
–7

.........
–16

–21

–2,274
.........

–3,472

.........

–318
.........

–59

.........

–3,608

–902

.........

–6

–607

2012

.........

2011

–5

.........

.........

536

–81

–1

618

–188
–35

–2,123
–23

–5,582

–5,360

–215

–1,558

–1,038

2013

–6

.........

.........

644

–110

–2

756

–1,435
12

–2,154
–34

–5,094

–4,858

–330

–1,653

–1,079

2014

–6

.........

.........

811

–115

–3

929

–2,334
23

–1,927
–35

–4,850

–4,601

–306

–1,749

–1,111

2015

–6

.........

.........

837

–121

–3

961

–1,532
–141

–1,608
–35

–4,841

–4,576

–230

–1,842

–1,142

2016

–7

.........

.........

870

–126

–4

1,000

–1,358
–147

–1,322
–36

–4,690

–4,414

–152

–1,932

–1,177

2017

(Deficit increases (+) or decreases (–) in millions of dollars)

–7

.........

.........

910

–132

–5

1,047

–309
281

–1,089
–36

–4,448

–4,163

–75

–2,020

–1,211

2018

–7

.........

.........

952

–138

–6

1,096

–323
176

–908
–37

–4,334

–4,039

–22

–2,108

–1,243

2019

Table S–8. Mandatory and Receipt Proposals—Continued

–8

.........

.........

996

–144

–7

1,147

–337
107

–762
–37

–4,333

–4,030

–9

–2,200

–1,273

2020

–1,140

–7,704

–4,977

2012–
2016

–8

.........

.........

1,022

–150

–8

1,180

–352
138

–27

.........

.........

3,255

–475

–9

3,739

–5,489
–148

–640 –10,086
–39
–127

–4,411 –23,975

–64

.........

.........

8,005

–1,165

–39

9,209

–8,168
407

–14,807
–312

–46,191

–43,612

–1,408

–18,260

–11,202

2012–
2021

Totals

–4,099 –22,867

–10

–2,296

–1,321

2021

186
SUMMARY TABLES

.........
–127
–806
–15
.........
–948
–563

.........
.........
.........
.........
.........
.........
–21

–821

–1,077

.........

–46

–171
–860

.........

–27

–27

.........

–18

–235

.........

.........

–230

2013

.........

.........

Other Initiatives:
Authorize the limited sharing of business tax
return information to improve the accuracy of
important economic measures .........................

.........

167

.........

371

–397 –17,390 –29,977

–13

–13

.........
.........

.........

–16

.........

.........

.........

.........

–13

.........

.........

.........

–12

2012

.........

Trade Initiatives:
Promote trade ........................................................

Total, other revenue changes and loophole
closers ...........................................................

Total, expand penalties .........................
Modify estate and gift tax valuation discounts
and make other reforms:
Make permanent the portability of unused
exemption between spouses .....................
Require consistency in value for transfer
and income tax purposes ........................
Modify rules on valuation discounts..........
Require a minimum term for grantor
retained annuity trusts (GRATs)...........
Limit Duration of Generation Skipping
Transfer (GST) Tax Exemption .............
Total, modify estate and gift tax
valuation discounts and make other
reforms ...............................................
Total, reduce the tax gap and make
reforms .......................................................

Strengthen tax administration .......................
Expand penalties:
Impose a penalty on failure to comply
with electronic filing requirements .......
Increase penalty imposed on paid
preparers who fail to comply with EITC
due diligence requirements ....................

Increase certainty with respect to
worker classification .........................
Repeal special estimated tax payment
provision for certain insurance
companies ..........................................
Eliminate special rules modifying the
amount of estimated tax payments
by corporations ..................................
Total, improve compliance by
businesses ......................................

2011

.........

–819

2016

–1,937

.........

–231

–204
–1,823

321

–35

–34

–1

–28

–6,350 –51,278

–1,822

.........

–160

–192
–1,687

217

–32

–32

.........

–25

–5,282 –50,115

–4,320 –49,290

.........

–956

2015

–2,176

–2,069

.........

–308

–216
–1,966

421

–36

–35

–1

–30

–911

.........

.........

–904

2017

–2,375

–2,218

.........

–389

–229
–2,116

516

–36

–35

–1

–30

–1,001

.........

.........

–994

2018

3,029

–2,388

.........

–477

–243
–2,277

609

–38

–36

–2

–32

4,535

5,630

.........

–1,088

2019

–8,473

–2,573

.........

–570

–258
–2,444

699

–39

–37

–2

–33

–6,824

–5,630

.........

–1,186

2020

–3,125

–2,781

.........

–670

–273
–2,629

791

–40

–38

–2

–34

–1,292

.........

.........

–1,284

2021

–7,778

–7,510

.........

–545

–876
–6,734

645

–138

–137

–1

–104

–3,281

.........

.........

–3,254

2012–
2016

–20,898

–19,539

.........

–2,959

–2,095
–18,166

3,681

–327

–318

–9

–263

–8,774

.........

.........

–8,710

2012–
2021

Totals

.........

514

.........

636

.........

755

.........

837

.........

910

.........

982

.........

1,053

.........

1,127

.........

2,443

.........

7,352

15,190 –44,562 –89,414 –41,554 –37,353 –30,416 –42,706 –38,299 –166,153 –356,481

51,234

–1,726

.........

–93

–182
–1,558

107

–31

–31

.........

–20

52,367

53,610

.........

–1,237

2014

(Deficit increases (+) or decreases (–) in millions of dollars)

Table S–8. Mandatory and Receipt Proposals—Continued

THE BUDGET FOR FISCAL YEAR 2012

187

Total, reauthorize surface transportation .........

20

–20
–11
–27
–22
.........
90
.........
.........
.........

.........
.........
.........
.........
.........
.........
.........
.........
.........
.........

Total, Agriculture .............................................

–152

–161
–1

.........
.........

Agriculture:
Change company reimbursement on crop
insurance CAT premium ...................................
Eliminate cotton and peanut storage payments ........
Enact Animal Plant and Health Inspection
Service (APHIS) fees .........................................
Enact Food Safety and Inspection Service (FSIS)
performance fee .................................................
Enact Grain Inspection, Packers, and Stockyards
Administration (GIPSA) fees ............................
Enact Natural Resources Conservation Service
(NRCS) fee .........................................................
Enact Forest Service payment to communities—
impact on timber receipts .................................
Suspend SNAP time limits for able-bodied
working-age adults without dependents ..........
Restore SNAP beneficiary payments terminated
in P.L. 111–296 ..................................................
Reduce commodity payments to wealthy farmers.......
Impose biobased labeling fee ................................

......... –12,658

.........

Upfront investment in TIGER grants ..........................

596

......... –13,274
.........

Mandatory Initiatives and Savings:

6,726

19,053

.........

.........

.........

2013

16,230

.........

.........

.........

2014

17,980

.........

.........

.........

2015

21,965

.........

.........

.........

2016

27,117

.........

.........

.........

2017

30,412

.........

.........

.........

2018

31,731

.........

.........

.........

2019

32,207

.........

.........

.........

2020

.........

.........

.........

2012–
2016

235,498

.........

.........

.........

2012–
2021

Totals

32,077 109,071

.........

.........

.........

2021

680

608
400

.........

–481

.........
–228
.........

51

–48

–22

–29

–12

–27

–166
.........

2,663

3,239
–261
.........

1

–49

–22

–30

–12

–27

–176
.........

–577

56
–312
.........

.........

–49

–22

–31

–12

–28

–179
.........

–6,381 –11,482 –12,620

420

2,146

–640

.........
–315
.........

.........

–50

–22

–31

–13

–29

–180
.........

–9,835

200

.........

–8,947 –12,770 –13,020 –10,035

–594

.........
–265
.........

.........

–52

–22

–31

–13

–30

–181
.........

–6,743

140

.........

–6,883

–559

.........
–278
.........

.........

.........

–22

–32

–13

–31

–183
.........

–5,488

100

.........

–5,588

–568

.........
–285
.........

.........

.........

–22

–32

–13

–32

–184
.........

–6,229

40

.........

–6,269

–569

.........
–284
.........

.........

.........

–22

–32

–13

–33

–185
.........

–6,793

.........

.........

–6,793

1,860

3,350

–572

.........
–283
.........

.........

.........

–22

–33

–13

–34

–187
.........

813

3,295
–1,116
.........

142

–196

–110

–148

–60

–131

–862
–1

–8,923 –52,976

.........

.........

–8,923 –58,046

–2,049

3,295
–2,511
.........

142

–248

–220

–308

–125

–291

–1,782
–1

–87,152

2,000

3,350

–92,502

......... –20,000 –28,000 –29,000 –31,000 –32,000 –34,000 –36,000 –38,000 –39,000 –41,000 –140,000 –328,000

Upfront investment in aviation ....................................

Subtotal, transportation trust fund ................

Transportation Trust Fund:
Outlays ...................................................................
Bipartisan financing for Transportation Trust
Fund ...................................................................
.........

.........

Reauthorize Surface Transportation:

.........

.........

Total, other initiatives .....................................
.........

.........

.........

2012

Eliminate certain reviews conducted by the
U.S. Treasury Inspector General for Tax
Administration (TIGTA) ...................................
Modify indexing to prevent deflationary
adjustments .......................................................

2011

(Deficit increases (+) or decreases (–) in millions of dollars)

Table S–8. Mandatory and Receipt Proposals—Continued

188
SUMMARY TABLES

.........

–20
1,800

.........
–60
.........
.........
.........
.........
–60

.........
300
300

Provide current borrowers incentive to
convert from guaranteed loans to direct
loans to simplify loan servicing ...................

Eliminate year-round Pell Grants and
simplify student aid application .................

Reform and expand Perkins loan program .....

Overhaul TEACH Grants and replace with
Presidential Teaching Fellows.....................

Establish College Completion Incentive
Grants ...........................................................

Accelerate the recall of the Perkins Loan
revolving fund ..............................................

Total, Education..........................................

Energy:
Repeal ultra-deepwater oil and gas research and
development program .......................................
Provide HomeStar rebates for energy efficient
home retrofits ....................................................

Total, Energy ....................................................

1,780

–2,544

–384

2

2

–578

–535

–2,136

–984

.........

Eliminate in-school interest subsidies for
graduate and professional students............

2,069

.........

Provide mandatory appropriation to sustain
recent Pell Grant increases .........................

Education:
Pell Grant Protection Act:

–117

.........

Total, Defense .............................................
–1

–1

.........

–1
.........

.........

.........

2012

Effect on accrual payments (non-PAYGO) ........
Subtotal, shift future Uniformed Services
Family Health Plan enrollees into
TRICARE-For-Life/Medicare .................
Provide additional accrual payments to the
Medicare Eligible Retiree Health Care Fund
(non-PAYGO) .....................................................

Effect on Medicare Eligible Retiree Health
Care Fund ....................................................

Defense:
Shift future Uniformed Services Family Health
Plan enrollees into TRICARE-for-Life/
Medicare:

2011

2,060

2,100

–40

415

–618

42

102

–1,564

–604

–20

–3,200

6,277

755

.........

755

759

–4

2013

970

1,020

–50

–2,283

–727

220

150

–1,155

–711

–16

–3,039

2,995

793

.........

793

805

–12

2014

570

600

–30

–1,696

–764

288

156

–896

–840

–10

–3,019

3,389

826

.........

826

850

–24

2015

170

180

–10

–620

–113

300

150

–705

–995

–10

–3,022

3,775

846

.........

846

889

–43

2016

.........

.........

.........

–323

–197

291

138

–547

–1,157

–10

–3,041

4,200

877

.........

877

945

–68

2017

(Deficit increases (+) or decreases (–) in millions of dollars)

.........

.........

.........

–223

–25

93

1

–504

–1,295

–11

–3,110

4,628

905

.........

905

1,004

–99

2018

.........

.........

.........

60

94

15

–54

–494

–1,335

–11

–3,211

5,056

930

.........

930

1,067

–137

2019

Table S–8. Mandatory and Receipt Proposals—Continued

.........

.........

.........

454

202

.........

–67

–473

–1,372

–13

–3,312

5,489

951

.........

951

1,134

–183

2020

18,505

3,219

–117

3,219

3,303

–84

2012–
2016

.........

.........

.........

1,061

342

.........

–70

–448

–1,399

–7

5,550

5,700

–150

–6,728

–2,606

852

560

–4,898

–3,685

–2,192

5,550

5,700

–150

–5,699

–2,190

1,251

508

–7,364

–10,243

–2,244

–29,281

43,864

7,849

–117

7,849

8,658

–809

2012–
2021

Totals

–3,343 –13,264

5,986

967

.........

967

1,205

–238

2021

THE BUDGET FOR FISCAL YEAR 2012

189

.........

Provide SGR relief from 2014 onward ............

22

.........

Total, Health and Human Services .................

Housing and Urban Development:
Provide funding for the Affordable Housing
Trust Fund.........................................................

Interior:
Impose fee on nonproducing oil and gas leases ..........
Reserve funds for insular affairs assistance ........
Return to net receipts sharing for energy
minerals .............................................................
Reform coal and hardrock Abandoned Mine
Lands (AML) programs2....................................
Impose hardrock mining royalty ..........................
Repeal Energy Policy Act fee prohibition and
mandatory permit funds ...................................
Increase Duck Stamp fees2 ...................................

220
381
342
244
2
240
495

.........
.........
22
.........
.........
.........
.........

–25
25
.........
–138
.........
.........
–4

.........
.........
.........
.........
.........
.........
.........

10

18,955

.........

.........

.........

.........

–1,571

18,602

2012

Effect on Medicare ...........................................
Reform child welfare assistance to improve
permanency and safety .....................................
Strengthen and expand child care assistance .....
Extend TANF supplemental grants .....................
Modernize child support program ........................
Extend the child welfare study .............................
Extend Transitional Medical Assistance (TMA) ..
Extend Qualified Individuals (QI) ........................

.........

.........

Offset cost of providing SGR relief through
2013 with specific health savings3 ..............

Offset cost of providing SGR relief from 2014
onward ..........................................................
Shift future Uniformed Services Family Health
Plan enrollees into TRICARE-for-LIFE/
Medicare:

.........

Provide SGR relief through 2013 ....................

Health and Human Services:
Provide physicians relief from sustainable
growth rate formula (SGR) and offset costs:

2011

23,207

–2,676

7,210

2014

32,072

–4,759

.........

2015

34,692

–6,056

.........

2016

36,730

–6,846

.........

2017

39,856

–7,037

.........

2018

44,760

–7,275

.........

2019

.........

2021

54,405

49,909

54,222

89,971

315,448

–62,233

54,405

2012–
2021

Totals
2012–
2016

–9,674 –14,164 –17,237

.........

2020

–20
.........

–386
–7

–44

–39
24

140

28,088

245
632
64
310
4
415
.........

.........

–19
.........

–330
–5

–45

–59
24

290

5,774

249
730
.........
251
.........
10
.........

.........

–18
.........

–204
–6

–47

–75
24

230

–3,471

250
749
.........
269
.........
.........
.........

20

.........
.........

–129
–6

–47

–90
22

190

–4,723

250
750
.........
303
.........
.........
.........

30

.........
.........

–81
–7

–48

–98
16

100

–5,440

250
750
.........
356
.........
.........
.........

50

.........
.........

–128
–10

–50

–109
15

20

–5,605

250
750
.........
362
.........
.........
.........

70

.........
.........

–145
–15

–53

–116
14

20

–5,933

250
750
.........
252
.........
.........
.........

90

250
750
.........
226
.........
.........
.........

150

.........
.........

–100
–19

–52

–125
12

.........

.........
.........

–89
–25

–55

–138
11

.........

–8,328 –12,788

250
750
.........
226
.........
.........
.........

120

–57
–4

–1,187
–24

–183

–288
119

860

44,623

1,214
3,242
406
1,377
6
665
495

50

–57
–4

–1,730
–100

–441

–874
187

1,000

6,529

2,464
6,992
406
2,799
6
665
495

530

......... –23,207 –32,072 –34,692 –36,730 –39,856 –44,760 –49,909 –54,222 –89,971 –315,448

.........

–2,175

28,593

2013

(Deficit increases (+) or decreases (–) in millions of dollars)

Table S–8. Mandatory and Receipt Proposals—Continued

190
SUMMARY TABLES

–152

.........

.........

Total, Interior ...................................................

Justice:
Provide incentives for State medical malpractice
reform.................................................................

Total, Labor ......................................................

Veterans Affairs:
Extend veterans income verification ....................
Extend VBA authority for use of HHS data.........
Reform criteria for special monthly pension........
Provide authority for vendee loan pooling ...........
Expand eligibility for Vocational Rehabilitation
and Employment on-the-job training program4

Total, Treasury .................................................

Treasury:
Levy payments to Medicare providers with
delinquent tax debt2 ..........................................
Offset Federal tax refunds to collect State
income taxes from debtors who currently
reside in other States ........................................
Levy payments to Federal contractors with
delinquent tax debt2 ..........................................
Restructure assistance to New York City2 ...........

26
4
–6
–86
.........

.........

77

–22
.........
.........
.........
.........

–59
200

–5
.........

3,941

1,344

.........

.........

.........

.........

.........
–44
36

.........
.........
.........

–64

–10
415

.........
124

–17

3,544

1,220

100

–7
.........

.........
.........

Labor:
Give States and employers short-term
relief from interest and tax increases and
strengthen unemployment insurance system
solvency2 ............................................................
Reform Federal Employees’ Compensation Act
(FECA) ...............................................................
Reauthorize Trade Adjustment Assistance ..........
Protect pension benefits by empowering the
PBGC Board to improve solvency ....................
Expand Foreign Labor Certification Fees ............
Expand work-sharing program2 ...........................
Enhance unemployment insurance program
integrity2,4 ..........................................................

–3

2012

.........

Reathorize Federal Land Sales/Acquisition Law
(FLTFA)..............................................................
Repeal Geothermal Payments to Counties under
2005 Energy Policy Act .....................................
Repeal “deep gas” royalty incentives ....................

2011

.........

–7
2
–10
–93

71

–61
200

.........

–68

4,626

–142

.........
.........
17

–13
713

4,051

50

–484

–7
.........

–5

2013

50

–343

–7
.........

–10

2015

.........

–261

–7
.........

–4

2016

.........

–225

–7
.........

.........

2017

–222

–2,523
.........
61

–7
825

438

–2,286
.........
90

–17
746

–316

–2,141
.........
89

–26
708

.........

–13
1
–13
1

65

–64
200

.........

–71

.........

–20
.........
–16
.........

59

–67
200

.........

–74

.........

–27
–1
–20
.........

55

–69
200

.........

–76

.........

.........
–2
–23
.........

51

–73
200

.........

–76

–7,976 –14,729 –11,573 –13,499

–261

–1,121
.........
–5

–5
893

–7,477 –12,863 –10,544 –11,813

50

–449

–7
.........

–8

2014

(Deficit increases (+) or decreases (–) in millions of dollars)

.........

.........
–3
–27
.........

46

–76
200

.........

–78

–9,658

195

–2,046
.........
88

–36
696

–8,555

.........

–290

–8
.........

.........

2018

.........

.........
–4
–30
.........

40

–80
200

.........

–80

–982

219

–1,987
.........
88

–46
710

34

.........

–323

–8
.........

.........

2019

Table S–8. Mandatory and Receipt Proposals—Continued

.........

.........
–5
–34
.........

37

–83
200

.........

–80

–1,072

–137

–1,966
.........
88

–56
736

263

.........

–292

–8
.........

.........

2020

250

–1,689

–35
.........

–30

2012–
2016

–187

–5,930
–44
199

–52
3,592

.........

.........
–5
–37
.........

32

–87
200

.........

–81

.........

–41
6
–65
–178

327

–320
1,000

.........

–353

–1,698 –25,711

–330

–2,001
.........
89

–67
778

.........

–41
–13
–216
–178

533

–719
2,000

.........

–748

–52,620

–556

–16,071
–44
641

–283
7,220

–43,527

250

–3,123

–74
.........

–30

2012–
2021

Totals

–167 –23,289

.........

–304

–8
.........

.........

2021

THE BUDGET FOR FISCAL YEAR 2012

191

–200

–50

.........
.........
.........

Enact incentive auction authority and other
spectrum reforms .........................................

Build a Public Safety Broadband Network ....

Reserve the D Block for public safety use ......

Multi-Agency:
Enact Wireless Innovation and Infrastructure
Initiative (WI3):

–207

–53
2,218

Total, other independent agencies ..................

3,150

1,400

–1,900

72

–7

–3

Provide no new funding for the
Telecommunications Development Fund ...
Subtotal, Federal Communications
Commission (FCC)..................................

Enact spectrum license user fee ......................

279

2,271

Other Independent Agencies:
Provide financial relief to the U.S. Postal Service ......
Federal Communications Commission (FCC):

5
129

13
20

.........
.........
.........

5
86

.........
.........

.........

–49

.........

Total, Social Security Administration .............

Total, Environmental Protection Agency ........

Social Security Administration:
Require workers’ compensation information
reporting4 ...........................................................
Temporarily extend SSI benefits for refugees .....
Require States and localities to provide pension
information4 .......................................................
Revert to quarterly wage reporting4.....................
Enact DI Work Incentives Simplification Pilot
(non-PAYGO) .....................................................

.........

.........

.........

–49

.........

Corps of Engineers:
Reform inland waterways funding2 ......................

–62

.........

2012

.........

.........

Total, Veterans Affairs .....................................

Environmental Protection Agency:
Enact pesticide registration and premanufacture
notice fees ..........................................................
Establish fees for use of hazardous waste
electronic manifest system ...............................

.........

Allow occupancy by a dependent child to satisfy
VA home loans occupancy requirement ...........

2011

1

.........

1,400

–6,020

–58

–307

–7

–300

249

157

10

20
30

5
92

–81

.........

–81

–196

–107

2013

1

.........

1,400

–8,240

–111

–432

–7

–425

321

133

15

18
100

.........
.........

–94

–6

–88

–163

–23

2014

1

.........

1,400

–6,430

–258

–557

–7

–550

299

–180

22

–202
.........

.........
.........

–99

–4

–95

–135

–35

2015

1

.........

1,400

–2,460

–277

–557

–7

–550

280

–414

25

–439
.........

.........
.........

–100

–3

–97

–72

–47

2016

1

.........

.........

–400

–328

–557

–7

–550

229

–561

13

–574
.........

.........
.........

–104

–3

–101

–72

–24

2017

(Deficit increases (+) or decreases (–) in millions of dollars)

1

.........

.........

–1,300

–328

–557

–7

–550

229

–609

.........

–609
.........

.........
.........

–107

–3

–104

–71

–29

2018

1

.........

.........

–1,050

–328

–557

–7

–550

229

–555

.........

–555
.........

.........
.........

–110

–3

–107

–69

–33

2019

Table S–8. Mandatory and Receipt Proposals—Continued

1

.........

.........

.........

–328

–557

–7

–550

229

–522

.........

–522
.........

.........
.........

–113

–3

–110

–70

–38

2020

1

4

–632

–2,060

–35

–2,025

1,428

–175

77

–590
150

10
178

–423

–13

–410

–566

–274

2012–
2016

.........

.........

3,150

7,000

9

3,150

7,000

–27,800

–2,272

–4,845

–70

–4,775

2,573

–2,901

90

–3,329
150

10
178

–974

–28

–946

–917

–439

2012–
2021

Totals

......... –25,050

–328

–557

–7

–550

229

–479

.........

–479
.........

.........
.........

–117

–3

–114

–69

–41

2021

192
SUMMARY TABLES

5,559
–1,497
265
.........

.........
.........
14,616
.........
14,616

Total, multi-agency ..........................................

–6,684
.........
.........

–4,909

681

1,250

2014

–521

539

.........

2016

–277

123

.........

2017

–1,266

34

.........

2018

–1,050

.........

.........

2019

.........

.........

.........

2020

.........

.........

.........

2021

–7,057

2,843

5,000

2012–
2016

–9,650

3,000

5,000

2012–
2021

Totals

–9,465 –12,620 –14,990 –16,632 –18,305 –19,647 –20,976 –34,453 –125,003
.........
.........
.........
.........
.........
.........
.........
265
265
.........
.........
.........
.........
.........
.........
.........
.........
.........

–4,403

627

.........

2015

–6,970 –11,593 –13,868 –13,141 –15,267 –17,898 –19,355 –19,647 –20,976 –41,245 –134,388

–4,187
.........
.........

–2,783

587

1,250

2013

.........

.........
.........

.........
.........

Expand earned income tax credit.................................

Expand child and dependent care tax credit ...............

Provide for automatic enrollment in IRAs and double
the tax credit for small employer plan startup
costs ...........................................................................

Extend American opportunity tax credit .....................

2,863

34

9,523

43

2,793

4,465

66

347

1,372

437

2014

10,709

43

4,048

4,425

71

354

1,384

384

2015

11,976

40

5,314

4,655

79

363

1,404

121

2016

13,091

10

6,575

4,608

90

372

1,436

.........

2017

14,295

.........
.........
.........

Reform coal and hardrock Abandoned Mine Lands
(AML) programs ........................................................

Increase Duck Stamp fees ............................................

2011

–14

.........

.........

2012

–14

–200

–196

2013

–14

–200

–163

2014

–14

–200

–135

2015

–14

–200

–72

2016

–14

–200

–72

2017

–20

7,830

4,531

105

386

1,463

.........

2018

–14

–200

–71

2018

The estimates for this proposal include effects on receipts. The receipt effects included in the totals above are listed below:

Reform inland waterways funding ...............................

2

137

Total outlay effects of receipt proposals ...............
1,115

14

1,580

599

105
.........

Reform and extend Build America bonds ....................

Designate Growth Zones...............................................

16

38

337

69

789

2013

.........

.........

.........

502

32

2012

Continue certain expiring provisions through
calendar year 2012 ....................................................

2011

–14

–200

–69

2019

15,861

–20

9,080

4,791

122

398

1,490

.........

2019

–14

–200

–70

2020

17,146

–17

10,324

4,775

142

410

1,512

.........

2020

–14

–200

–69

2021

18,723

–14

11,561

5,038

167

420

1,551

.........

2021

–70

–800

–566

2012–
2016

36,186

174

14,334

13,561

254

1,401

4,229

2,233

2012–
2016

–140

–1,800

–917

2012–
2021

115,302

113

59,704

37,304

880

3,387

11,681

2,233

2012–
2021

Total, mandatory and receipt proposals,
including surface transportation ..............
18,930 14,227
5,671 –2,579 –83,764–121,100 –76,118 –71,523 –58,081 –73,693 –76,882–187,545 –543,842
Note: For receipt effects, positive figures indicate lower receipts. For outlay effects, positive figures indicate higher outlays. For net costs, positive figures indicate higher
deficits.
1
The estimates for this proposal include effects on outlays. The outlay effects included in the totals above are listed below:

4,327

409

2,500

.........

.........

2012

Create a Wireless Innovation Fund ................
Total, enact Wireless Innovation and
Infrastructure Initiative (WI3) ..............
Implement program integrity allocation
adjustments2 ......................................................
Provide $250 Economic Recovery Payments2 ......
Hold harmless the Federal poverty level .............

Extend wireless broadband through the
National Wireless Initiative and support
Universal Service Fund reform ...................

2011

(Deficit increases (+) or decreases (–) in millions of dollars)

Table S–8. Mandatory and Receipt Proposals—Continued

THE BUDGET FOR FISCAL YEAR 2012

193

.........
216

Implement program integrity allocation
adjustments ...............................................................

Provide $250 Economic Recovery Payments ...............
112

–276

200

–59

–64

.........

.........

1,714

2012

.........

–804

200

–61

–68

–54

–14

3,541

2013

2015

2016

2017

.........

–1,970

200

–64

–71

–108

–20

.........

–3,721

200

–67

–74

–70

51

.........

–5,646

200

–69

–76

588

82

.........

–7,227

200

–73

–76

–162

82

–7,477 –12,863 –10,544 –11,814

2014

.........

–8,184

200

–76

–78

355

81

–8,555

2018

.........

–8,773

200

–80

–80

388

81

34

2019

.........

–9,274

200

–83

–80

42

81

263

2020
2012–
2016

81

99

1,000

–320

–353

356

.........

112

–9,778 –12,417

200

–87

–81

–144

112

–55,653

2,000

–719

–748

835

505

–45,868

2012–
2021

Totals

–167 –25,629

2021

Expand CMS program integrity authority:
Reduce Medicaid provider tax threshold
beginning in 2015 ..............................................
Strengthen Medicaid third-party liability ...........
Track high prescribers and utilizers of
prescription drugs in Medicaid .........................
Require manufacturers that improperly report
items for Medicaid drug coverage to fully
repay States .......................................................
Enforce Medicaid drug rebate agreements ..........
Increase penalties on drug manufacturers for
fraudulent non-compliance with Medicaid
drug rebate agreements ....................................
Require drugs to be properly listed with the
FDA to receive Medicaid coverage ...................
Prohibit Federal funds from being used as
Medicaid/CHIP State share unless specifically
authorized by law ..............................................
Recover erroneous payments made to insurers
participating in Medicare Advantage...............
Increase scrutiny of providers using higher-risk
banking arrangements to receive Medicare
payments ...........................................................
.........
–65
–80
–10
.........
.........
.........
.........
–490
.........

.........
.........
.........
.........
.........
.........
.........
.........

2012

.........
.........

2011

.........

–570

.........

.........

.........

–10
.........

–170

.........
–95

2013

.........

–600

.........

.........

.........

–10
.........

–310

.........
–155

2014

.........

–640

.........

.........

.........

–10
.........

–340

–1,460
–165

2015

.........

–650

.........

.........

.........

–10
.........

–370

–2,050
–170

2016

.........

–680

.........

.........

.........

–15
.........

–390

–2,690
–175

2017

.........

–680

.........

.........

.........

–15
.........

–410

–2,820
–190

2018

.........

–660

.........

.........

.........

–15
.........

–440

–2,970
–195

2019

.........

–610

.........

.........

.........

–15
.........

–460

–3,110
–200

2020

.........

–580

.........

.........

.........

–15
.........

–480

–3,270
–210

2021

.........

–2,950

.........

.........

.........

–50
.........

–1,270

–3,510
–650

2012–
2016

.........

–6,160

.........

.........

.........

–125
.........

–3,450

–18,370
–1,620

2012–
2021

Total receipt effects of mandatory proposals .......
194
1,613
2,330 –9,887 –16,893 –15,751 –19,356 –16,542 –8,513 –9,135 –10,259 –38,588 –102,393
3
The health savings to offset the cost of providing physicians three years of relief from scheduled payment cuts under the sustainable growth rate formula (SGR) are listed
below:

–5

–17

Levy payments to Medicare providers with
delinquent tax debt ...................................................

.........

.........

Enhance unemployment insurance integrity ..............

Restructure assistance to New York City ....................

.........

Expand work-sharing program ....................................

Levy payments to Federal contractors with
delinquent tax debt ...................................................

.........

Give States and employers short-term relief from
interest and tax increases and strengthen
unemployment insurance system solvency .............

2011

(Deficit increases (+) or decreases (–) in millions of dollars)

Table S–8. Mandatory and Receipt Proposals—Continued

194
SUMMARY TABLES

.........

.........
.........
–10
.........

.........
.........
.........

.........

.........
.........
.........
.........

.........
.........
.........
.........

Total, expand CMS program integrity
authority .......................................................

.........

Other Medicare Proposals:
Require the Secretary to determine the
geographic scope of Quality Improvement
Organization (QIO) contracts to maximize
efficiency ............................................................
Eliminate the conflict of interest between
beneficiary protection and quality
improvement activities for QIOs ......................

.........

.........

Total, other Medicaid proposals ......................

–20
–10

.........
.........

–210

–210

.........

Other Medicaid Proposals:
Limit Medicaid reimbursement of durable
medical equipment (DME) based on Medicare
rates ...................................................................
Rebase Medicaid Disproportionate Share
Hospital (DSH) allotments in 2021 ..................

–655

.........

.........

2012

Allow civil monetary penalties for providers who
do not update enrollment information .............
Study the feasibility of using universal product
numbers (UPNs) to improve payment
accuracy in Medicare ........................................
Permit exclusion of individuals affiliated with
entities sanctioned for fraudulent or other
prohibited actions from federal health care
programs ............................................................
Create a system to validate physicians’ and
practitioners’ orders for certain high-risk
products and services ........................................
Require prepayment review for all power
wheelchairs ........................................................
Use a portion of Recovery Audit Contractor
recoveries to implement actions that prevent
improper payments and fraud ..........................
Provide flexibility to the Secretary in
implementing predictive analytics
technologies for claims payment to maximize
cost effectiveness ...............................................
Limit the discharge of debt in bankruptcy
proceedings in cases of fraudulent activity ......
Strengthen penalties for illegal distribution
of Medicare, Medicaid, or CHIP beneficiary
identification or billing privileges ....................

2011

–20

–50

–420

.........

–420

–885

.........

.........

–20

.........

–20

.........

.........

.........

.........

2013

–30

–110

–470

.........

–470

–1,155

.........

–10

–20

.........

–20

–20

.........

.........

–10

2014

–60

–190

–550

.........

–550

–2,805

.........

–10

–20

–20

–20

–110

.........

.........

–10

2015

–80

–230

–700

.........

–700

–3,560

.........

–20

–30

–30

–20

–200

.........

.........

–10

2016

–80

–260

–730

.........

–730

–4,310

.........

–20

–10

–30

–30

–250

–10

.........

–10

2017

(Deficit increases (+) or decreases (–) in millions of dollars)

–90

–290

–770

.........

–770

–4,475

.........

–20

.........

–30

–30

–260

–10

.........

–10

2018

–100

–320

–810

.........

–810

–4,670

.........

–20

.........

–40

–30

–280

–10

.........

–10

2019

Table S–8. Mandatory and Receipt Proposals—Continued

–120

–360

–850

.........

–850

–4,815

.........

–20

.........

–40

–30

–310

–10

.........

–10

2020

–120

–390

–5,060

–4,170

–890

–5,005

.........

–30

.........

–40

–30

–330

–10

.........

–10

2021

–200

–600

–2,350

.........

–2,350

–9,060

.........

–40

–100

–80

–90

–330

.........

.........

–30

2012–
2016

–710

–2,220

–10,570

–4,170

–6,400

–32,335

.........

–150

–100

–230

–240

–1,760

–50

.........

–80

2012–
2021

Totals

THE BUDGET FOR FISCAL YEAR 2012

195

.........
.........
.........

.........
.........
.........
.........

Total, other Medicare proposals ......................

–540
–69

.........
.........
.........
.........

Total, other pharmaceutical proposals ...........

Interactions ...................................................................
–72

–728

–138

–590

.........

–70

.........

.........

.........

.........

2013

–74

–827

–147

–680

.........

–150

.........

.........

.........

–10

2014

–124

–1,000

–160

–760

–80

–280

.........

.........

–10

–20

2015

–175

–1,271

–171

–850

–250

–350

.........

.........

–20

–20

2016

–32

–1,394

–184

–910

–300

–380

.........

.........

–20

–20

2017

138

–1,500

–200

–960

–340

–430

.........

.........

–20

–30

2018

381

–1,706

–216

–1,070

–420

–470

.........

.........

–30

–20

2019

Total savings from CMS program integrity,
and other Medicare, Medicaid, and
pharmaceutical proposals ...........................
......... –1,571 –2,175 –2,676 –4,759 –6,056 –6,846 –7,037 –7,275
Cost of providing SGR relief through 2013 ..........
......... 18,602 28,593
7,210
.........
.........
.........
.........
.........
Additional savings after paying for SGR relief
through 2013 .....................................................
......... 17,031 26,418
4,534 –4,759 –6,056 –6,846 –7,037 –7,275
4
This proposal has both PAYGO and non-PAYGO effects.
5
This proposal has outlays of less than $500,000 per year. The total cost is $1 million from 2012–2016 and $3 million from 2012–2021.

–67

–609

.........

.........

Other Pharmaceutical Proposals:
Modify length of exclusivity to facilitate faster
development of generic biologics ......................
Prohibit brand and generic drug companies from
delaying the availability of new generic drugs.......
Streamline pharmacy benefit contracting in the
FEHB program ..................................................

–30

.........

.........

2012

Expand pool of contractors eligible for QIO work ......
Extend the QIO contract length from three
years up to five years ........................................
Align QIO contract terminations with Federal
Acquisition Regulations ....................................
Dedicate EHR penalties to improving Medicare
program financing .............................................

2011

(Deficit increases (+) or decreases (–) in millions of dollars)

Table S–8. Mandatory and Receipt Proposals—Continued

72

–1,991

–251

–1,250

–490

–2,180

–1,610

.........

–30

–30

2021

–512

–4,435

–685

–3,420

–330

–880

.........

.........

–30

–50

–9,674 –14,164

37,168

–7,828

–62,233
54,405

59

–12,897

–1,767

–8,790

–2,340

–6,490

–3,230

.........

–160

–170

2012–
2021

Totals
2012–
2016

–9,674 –14,164 –17,237
.........
......... 54,405

12

–1,871

–231

–1,180

–460

–2,150

–1,620

.........

–30

–20

2020

196
SUMMARY TABLES

90
–82
114
122
–46

Total, net savings not counted for PAYGO purposes .................................................................................................................

Adjust for physician payment relief exempt from statutory PAYGO through 2014 ...........................................................................

Devote savings from reducing the value of certain tax expenditures to pay for three years of AMT relief .......................................

Total, adjustments for PAYGO scorekeeping ..................................................................................................................................

Total savings from mandatory and receipt proposals under PAYGO scorekeeping ...............................................................

316
196
88

Extend AMT relief through 2014 (offset with savings from reducing the value of certain tax expenditures) ..................................

Extend AMT relief for 2015 and beyond ................................................................................................................................................

Extend estate and gift taxes beyond 2011 at 2009 parameters ...........................................................................................................

Memorandum, PAYGO costs included in adjusted baseline:

58
32

–169

2011–2016

Remove net savings not counted for PAYGO purposes:
Transportation Trust Fund ..............................................................................................................................................................
Program integrity savings generated by increased discretionary funding, and other non-PAYGO effects ................................

Adjustments for PAYGO scorekeeping:

Grand total, mandatory and receipt proposals from Table S–8 ...................................................................................................

(In billions of dollars)

271

1,234

316

–71

454

321

–82

215

93
123

–525

2011–2021

S–9. Bridge Between Total Mandatory and Receipt Proposals and PAYGO Scorekeeping

THE BUDGET FOR FISCAL YEAR 2012

197

1,084.4

Total, Base Discretionary Funding ..

1,257.6

421.2

Non-Security .......................................
411.9

902.1

741.3
396.7

761.4
396.6

2014

778.2
396.7

2015

795.6
406.0

2016

811.3
414.8

2017

827.6
426.6

2018

844.3
437.5

2019

861.1
453.8

2020

878.6
456.6

2021

.........

50.0
.........

50.0
.........

50.0
.........

50.0
.........

50.0
.........

50.0

.........

50.0

.........

50.0

.........

50.0

396.8

845.9
385.4

768.9
374.3

766.0
363.5

758.8
361.1

752.0

357.8

742.9

357.1

734.5

355.2

726.1

357.4

717.7

349.0

709.8

1,242.7 1,188.0 1,208.0 1,224.9 1,251.6 1,276.1 1,304.3 1,331.8 1,364.9 1,385.2

–*

126.5

1,116.1 1,138.0 1,158.0 1,174.9 1,201.6 1,226.1 1,254.3 1,281.8 1,314.9 1,335.2

719.4
396.8

2013

Outyears

8,018.9
4,182.1

20122021

–*

576.5

1,881.1

3,891.6

3,657.6

7,522.6

6,115.1 12,777.5

–*

326.5

5,788.6 12,200.9

3,795.9
1,992.7

20122016

Totals

Grand Total ......................................... 1,319.4
1,314.0
1,242.7 1,154.4 1,140.3 1,122.3 1,113.1 1,100.7 1,091.6 1,081.3 1,075.1 1,058.7 5,772.7 11,180.2
* $50 million or less.
1
The Budget includes placeholder estimates of $50 billion per year for Overseas Contingency Operations in 2013 and beyond. These estimates do not reflect any
specific policy decisions.
2
Totals include Overseas Contingency Operations and Other Supplemental/Emergency Funding.

898.2

Security ................................................

1,279.9

.........

5.9

Grand Total, Discretionary
Budget Authority ......................

Memorandum, Budget Authority
Adjusted for Inflation and Population:2

164.7

167.3

1,115.2

714.0
401.2

Overseas Contingency
Operations 1 ...............................
Other Supplemental/Emergency
Funding .....................................

Other Discretionary Funding (not
included above):

682.8
401.6

Security Agencies .........................
Non-Security Agencies .................

Discretionary Policy by Category:

2010
2011
2012
Actual Request Request

(Budget authority in billions of dollars)

Table S–10. Funding Levels for Appropriated (“Discretionary”) Programs by Category

198
SUMMARY TABLES

401.6

Other Discretionary Funding (not included
above):

Subtotal, Non-Security Discretionary
Budget Authority ..........................................

1.4

401.2

20.7

18.9
7.4
1.0
10.1

18.7
6.9
0.8
9.3
1.2

17.1
83.4
41.6
12.1
24.1
14.0
0.1
14.0
13.9
4.9
10.0
0.7

16.6
84.4
42.8
12.1
27.6
13.5
0.1
14.7
13.4
5.5
10.3
0.4

19.9

23.8
9.0
1.3
72.9

25.1
13.9
7.2
64.3

Other Agencies .....................................................

682.8

Subtotal, Security Agencies ...........................

714.0

11.2
43.6
57.0
53.1

9.9
39.8
53.1
49.8

Non-Security Agencies:
Agriculture 4 ...................................................
Commerce ......................................................
Census Bureau .........................................
Education .......................................................
Energy (excluding National Nuclear
Security Administration) ..........................
Health and Human Services 5 ......................
Housing and Urban Development ................
Interior ...........................................................
Justice ............................................................
Labor ..............................................................
State and Other International Programs 4 ...
Transportation ...............................................
Treasury .........................................................
Corps of Engineers ........................................
Environmental Protection Agency ................
General Services Administration .................
National Aeronautics and Space
Administration ..........................................
National Science Foundation ........................
Small Business Administration ....................
Social Security Administration 5 ...................
Corporation for National and Community
Service ........................................................

549.1

530.1

Security Agencies:
Defense 1 .........................................................
Energy - National Nuclear Security
Administration 1 .........................................
Homeland Security 2 .....................................
Veterans Affairs 3 ...........................................
State and Other International Programs 4 ...

Base Discretionary Funding by Agency:

396.8

20.3

1.3

18.7
7.8
1.0
10.2

17.8
82.2
41.7
12.1
20.9
12.8
0.1
13.4
14.0
4.6
9.0
0.6

22.0
8.8
1.0
77.4

719.4

11.7
43.2
58.8
52.7

553.0

2010
2011
2012
Actual Request Request

396.7

19.6

1.2

18.0
7.5
0.9
10.0

18.1
79.4
41.1
11.7
27.3
12.5
0.1
13.6
15.0
4.3
8.7
0.6

22.9
8.7
1.2
75.4

741.3

12.0
43.6
60.7
54.3

570.7

2013

396.6

19.5

1.2

18.0
7.5
0.9
10.2

18.0
79.1
41.4
11.6
27.2
12.4
0.1
13.6
15.6
4.3
8.7
0.6

22.9
8.7
1.2
75.2

761.4

12.5
44.1
62.6
55.8

586.4

2014

396.7

17.0

1.2

18.1
7.5
0.9
10.4

18.1
79.6
41.2
11.7
27.4
12.5
0.1
13.6
16.2
4.3
8.7
0.6

23.0
8.9
1.4
75.5

778.2

13.0
45.5
64.6
57.0

598.2

2015

(Budget authority in billions of dollars)

406.0

17.8

1.2

18.5
7.7
0.9
10.7

18.5
81.4
41.9
12.0
28.0
12.7
0.1
14.0
17.1
4.4
8.9
0.6

23.5
9.3
1.6
76.8

795.6

13.3
46.9
66.7
58.1

610.6

2016

414.8

18.2

1.3

19.0
7.9
0.9
11.0

19.0
83.3
42.4
12.3
28.7
13.0
0.1
14.3
17.5
4.5
9.1
0.6

24.1
9.7
1.8
78.1

811.3

13.5
48.4
68.8
59.1

621.6

2017

Outyears

426.6

20.1

1.3

19.4
8.1
0.9
11.3

19.5
85.2
43.4
12.6
29.4
13.2
0.1
14.6
18.0
4.6
9.4
0.6

24.7
10.7
2.6
79.5

827.6

13.8
49.9
70.9
60.2

632.8

2018

437.5

20.7

1.3

19.9
8.3
1.0
11.5

19.9
87.3
44.5
12.9
30.1
13.5
0.1
15.0
18.4
4.7
9.6
0.7

25.3
11.9
3.6
80.9

844.3

14.1
51.5
73.3
61.3

644.1

2019

453.8

21.2

1.4

20.4
8.5
1.0
11.9

20.4
89.3
45.7
13.2
30.9
13.8
0.1
15.4
18.9
4.8
9.8
0.7

25.9
18.1
9.7
82.4

861.1

14.3
53.2
75.6
62.3

655.7

2020

20122016

20122021

Totals

62.5
223.2
313.4
277.9

132.9
481.1
680.0
584.3

94.2

6.1

91.4
37.9
4.5
51.5

90.6
401.8
207.4
59.1
130.8
62.9
0.6
68.2
78.0
21.8
44.0
3.0

114.4
44.3
6.1
380.2

196.1

12.8

191.0
79.2
9.3
109.3

190.3
838.6
430.3
123.7
281.6
130.5
1.2
143.3
170.1
45.4
92.1
6.3

241.0
105.0
25.4
784.9

456.6 1,992.7 4,182.1

21.7

1.4

20.9
8.7
1.0
12.2

20.9
91.7
46.9
13.6
31.7
14.1
0.1
15.8
19.4
5.0
10.1
0.7

26.6
10.3
1.6
83.9

878.6 3,795.9 8,018.9

14.7
54.9
78.0
63.5

667.5 2,918.9 6,140.6

2021

Table S–11. Funding Levels for Appropriated (“Discretionary”) Programs by Agency

THE BUDGET FOR FISCAL YEAR 2012

199

.........
.........
.........
.........
.........
1,279.9

–2.4
–0.5
–0.3
–1.5
–0.1

American Recovery and Reinvestment Act
of 2009 (P.L. 111–5) ........................................
Commerce ......................................................
Defense ..........................................................
Energy ............................................................
Other Agencies ..............................................

Grand Total, Discretionary Budget Authority ..... 1,257.6

.........
.........
.........
.........
.........

.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........

50.0
.........
.........
.........
.........
50.0

.........
.........
.........
.........
.........

.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........

50.0
.........
.........
.........
.........
50.0

2014

.........
.........
.........
.........
.........

.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........

50.0
.........
.........
.........
.........
50.0

2015

.........
.........
.........
.........
.........

.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........

50.0
.........
.........
.........
.........
50.0

2016

.........
.........
.........
.........
.........

.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........

50.0
.........
.........
.........
.........
50.0

2017

.........
.........
.........
.........
.........

.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........

50.0
.........
.........
.........
.........
50.0

2018

.........
.........
.........
.........
.........

.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........

50.0
.........
.........
.........
.........
50.0

2019

.........
.........
.........
.........
.........

.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........

50.0
.........
.........
.........
.........
50.0

2020

.........
.........
.........
.........
.........

.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........

50.0
.........
.........
.........
.........
50.0

2021

.........
.........
.........
.........
.........

–*
.........
.........
.........
.........
.........
.........
.........
–*
.........
.........

326.5
117.6
0.3
.........
8.7
200.0

20122016

.........
.........
.........
.........
.........

–*
.........
.........
.........
.........
.........
.........
.........
–*
.........
.........

576.5
117.6
0.3
.........
8.7
450.0

20122021

Totals

1,242.7 1,188.0 1,208.0 1,224.9 1,251.6 1,276.1 1,304.3 1,331.8 1,364.9 1,385.2 6,115.1 12,777.5

.........
.........
.........
.........
.........

–*
.........
.........
.........
.........
.........
.........
.........
–*
.........
.........

126.5
117.6
0.3
.........
8.7
.........

2013

Outyears

Memorandum: 2012 Budget 5-Year Defense
Request versus 2011 Future Years Defense Plan
(FYDP) 7
2011 Defense FYDP ......................................
n/a
549.1
566.4
581.8
597.8
616.0
635.1
n/a
n/a
n/a
n/a
n/a 2,997.0
n/a
Savings resulting from 2012 Budget policy ...
n/a
.........
–13.3
–11.1
–11.4
–17.9
–24.5
n/a
n/a
n/a
n/a
n/a
–78.2
n/a
*$50 million or less.
1
The Department of Defense (DOD) levels in 2013-2021 include funding that will be allocated, in annual increments, to the National Nuclear Security Administration
(NNSA) due to the close link between DOD and NNSA in determining nuclear weapons-related requirements and missions. The amounts by which DOD’s budget
authority will decrease and NNSA’s will increase are, in millions of dollars: 2013: 439; 2014: 553; 2015: 586; 2016: 638; 2012-2016: 2,216; 2012-2021: 5,582.
2
The Homeland Security level includes a -$3.0 billion transfer in 2010 of BioShield balances to Health and Human Services.
3
The Veterans Affairs total is net of medical care collections.
4
The Security category for State and Other International Programs is comprised entirely of International Function 150. This includes funding for International Food Aid
programs in the Department of Agriculture.
5
Funding from the Hospital Insurance and Supplementary Medical Insurance trust funds for administrative expenses incurred by the Social Security Administration that
support the Medicare program are included in the Health and Human Services total and not in the Social Security Administration total. Additionally, the Health and
Human Services total includes $3.0 billion in 2010 for transfer of the BioShield program in Homeland Security.
6
The Budget includes placeholder estimates of $50 billion per year for Overseas Contingency Operations in 2013 and beyond. These estimates do not reflect any specific
policy decisions.
7
This compares the 2012 Request for Defense from 2012-2016 to the Department’s 2011 FYDP, which does not extend beyond 2016.

.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........

8.3
0.6
–1.6
–0.1
0.2
5.5
0.2
2.3
0.2
1.0
0.1

Other Supplemental or Emergency
Funding ...........................................................
Agriculture .....................................................
Defense ..........................................................
Education .......................................................
Health and Human Services .........................
Homeland Security ........................................
Justice ............................................................
State and Other International Programs ....
Corps of Engineers ........................................
Small Business Administration ....................
Other Agencies ..............................................

164.7
159.1
0.3
.........
5.4
.........

167.3
162.3
0.2
0.1
4.7
.........

Overseas Contingency Operations 6 .............
Defense ..........................................................
Homeland Security ........................................
Justice ............................................................
State and Other International Programs ....
Overseas Contingency Operations Outyears ...

2010
2011
2012
Actual Request Request

(Budget authority in billions of dollars)

Table S–11. Funding Levels for Appropriated (“Discretionary”) Programs by Agency—Continued

200
SUMMARY TABLES

–4
100

Senior Preferred Dividend Payments
from Fannie Mae/Freddie Mac ......

Net Payments .....................................

–3

.........
73
146

Cash ................................................

Other ..............................................

.........
155

Consolidated Trust Debt 2 .............

Other Financial Liabilities ...........

–5

Private Equity ...............................

Net Position ...................................
–3

–153

150

48

3,934

1,539

96

105

30

–17

48

2011

8

–21

29

2012

–12

–23

11

2013

–17

–17

.........

2014

–14

–14

.........

2015

–11

–11

.........

2016

–10

–10

.........

2017

–9

–9

.........

2018

–8

–8

.........

2019

–8

–8

.........

2020

–8

–8

.........

2021

1

Market valuation not available for 2010 because of NYSE delisting.
2
New FASB accounting standards required consolidation of Variable Interest Entity securitization trusts on January 1, 2010.
3
Face value of Treasury senior preferred stock equal to original liquidation preference of $2 billion plus Treasury investments through September 30.

98
–103

Treasury Senior Preferred Stock 3

Equity:

1,607

GSE Debt Outstanding .................

Liabilities:

1,007

1,525

Consolidated Trust Securities 2 .....
4,241

68

12

40

–12

53

2010

U.S. Treasury Securities ...............
GSE Portfolio Securities and
Loans .........................................

Assets:

Net Position of Fannie Mae and
Freddie Mac:

–18

Market Value of Net Liability ............

Value of Private Equity Shares .........

Market Valuation of Fannie Mae and
Freddie Mac: 1

96

Senior Preferred Liquidity Payments
to Fannie Mae/Freddie Mac ............

Transactions between Treasury and
Fannie Mae/ Freddie Mac:

2009

(In billions of dollars)

–46

–86

40

2012–
2016

Table S–12. Market Valuation and Balance Sheet of Fannie Mae and Freddie Mac

–89

–129

40

2012–
2021

Totals

73

–163

236

2009–
2021

THE BUDGET FOR FISCAL YEAR 2012

201

–2.6
0.2

Real GDP, percent change, year/year ..............

Real GDP, percent change, Q4/Q4 ...................

9.6

9.3
0.2

91-day Treasury bills 3 .....................................
0.2

9.3

1.3

1.3

3.1

2.7

4.0

15,240

2011

1.0

8.6

1.8

1.5

4.0

3.6

5.2

16,032

2012

2.6

7.5

1.9

1.6

4.5

4.4

6.1

17,006

2013

3.7

6.6

2.0

1.7

4.2

4.3

6.1

18,043

2014

4.0

5.9

2.0

1.7

3.6

3.8

5.6

19,052

4.1

5.5

2.1

1.8

3.2

3.3

5.2

20,037

2016

Projections
2015

4.1

5.3

2.1

1.8

2.7

2.9

4.7

20,986

2017

4.1

5.3

2.1

1.8

2.5

2.6

4.4

21,910

2018

4.1

5.3

2.1

1.8

2.5

2.5

4.4

22,866

2019

4.1

5.3

2.1

1.8

2.5

2.5

4.3

23,860

2020

4.1

5.3

2.1

1.8

2.5

2.5

4.3

24,896

2021

10-year Treasury notes ....................................
3.3
3.2
3.0
3.6
4.2
4.6
5.0
5.2
5.3
5.3
5.3
5.3
5.3
Note: Based on information available as of mid-November 2010, prior to the enactment of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act
of 2010. A more detailed table of economic assumptions is in Chapter 2, “Economic Assumptions,” in the Analytical Perspectives volume of the Budget, Table 2–1.
1
Seasonally adjusted CPI for all urban consumers.
2
Annual average.
3
Average rate, secondary market (bank discount basis).

0.1

1.6

–0.3

1.0

0.9

2.5

Unemployment rate, civilian, percent 2 .......
Interest rates, percent:

GDP chained price index, percent change,
year/year.......................................................
Consumer Price Index, percent change,
year/year 1 ......................................................

3.8

–1.7
2.7

14,651

14,119

Nominal level, billions of dollars .....................

2010

Nominal GDP percent change, year/year........

Gross Domestic Product (GDP):

2009
Actual

(Calendar years)

Table S–13. Economic Assumptions

202
SUMMARY TABLES

.........
193
–*
192
1,838

1
–7
181
–*
181
1,474

Net purchases of non-Federal securities by the
National Railroad Retirement Investment Trust
(NRRIT) .........................................................................

Net change in other financial assets and liabilities 3... ...

Subtotal, changes in financial assets and liabilities..

Seigniorage on coins........ .......................................................
Total, other transactions affecting borrowing from
the public..................................................................
Total, requirement to borrow from the public
(equals change in debt held by the public) .......

179
5
1,658

Change in debt held by Government accounts ............................

Change in other factors ................................................................

Total, change in debt subject to statutory limitation ...........

13,511

Total, debt subject to statutory limitation ........................

26
13,529

Debt issued by other agencies................................................

Total, gross Federal debt...................................................

4,510
9,019

Debt held by Government accounts.......................................

Debt held by the public 7..................... ...................................

Held by:

13,503

Debt issued by Treasury....... ..................................................

Gross Federal debt: 6

Debt Outstanding, End of Year:

8

5

13,503

Debt issued by Treasury................................................................

Adjustment for discount, premium, and coverage 4 ....................

Debt Subject to Statutory Limitation, End of Year:

1,474

Change in debt held by the public................................................

Changes in Debt Subject to Statutory Limitation:

16

–29

10,856

4,620

15,476

27

15,449

15,459

10

15,449

1,948

1

110

1,838

–1

10

2

Guaranteed loan accounts...........................................
Troubled Asset Relief Program (TARP) equity
purchase accounts ...................................................

168

*

1,645

179

35

1,293

2011

Direct loan accounts........ ............................................

Net disbursements of credit financing accounts:

Change in Treasury operating cash balance 2 .................

Changes in financial assets and liabilities: 1

Other transactions affecting borrowing from the public:

Unified budget deficit....................................................................

Financing:

Actual
2010

11,881

4,773

16,654

27

16,627

16,638

11

16,627

1,179

1

153

1,025

1,025

–77

–*

–76

.........

–1

–19

–4

183

–235

1,101

2012

12,784

4,967

17,750

27

17,724

17,737

13

17,724

1,098

2

193

903

903

135

–*

136

.........

–1

–9

–2

148

.........

768

2013

(In billions of dollars)

13,562

5,199

18,761

27

18,734

18,748

14

18,734

1,012

1

232

778

778

134

–*

134

.........

–1

–9

3

141

.........

645

2014

14,301

5,474

19,776

27

19,748

19,764

15

19,748

1,015

1

275

739

739

132

–*

133

.........

–1

–11

6

139

.........

607

2015

15,064

5,761

20,825

26

20,799

20,815

16

20,799

1,052

2

287

763

763

114

–*

115

.........

–2

–6

6

116

.........

649

2016

Estimate

15,795

6,072

21,867

25

21,842

21,860

17

21,842

1,044

2

311

731

731

104

–*

105

.........

–1

–5

3

107

.........

627

2017

Table S–14. Federal Government Financing and Debt

16,513

6,411

22,924

23

22,901

22,918

18

22,901

1,059

2

339

717

717

99

–*

99

.........

–1

–4

–1

106

.........

619

2018

17,284

6,739

24,023

22

24,001

24,019

18

24,001

1,101

2

327

771

771

90

–*

90

.........

–1

–7

–5

103

.........

681

2019

18,103

7,062

25,165

20

25,145

25,163

18

25,145

1,144

2

323

820

820

84

–*

85

.........

–1

–9

–6

101

.........

735

2020

18,967

7,379

26,346

18

26,328

26,346

18

26,328

1,183

2

318

863

863

89

–*

90

.........

–1

*

–15

106

.........

774

2021

THE BUDGET FOR FISCAL YEAR 2012

203

1,125

Total, financial assets net of liabilities ............................
1,352

–29

22

143

92

–22

836

310

10,856

2011

1,296

–29

20

164

73

–26

1,019

75

11,881

2012

1,440

–29

19

172

64

–28

1,166

75

12,784

2013

1,574

–29

18

172

55

–25

1,307

75

13,562

2014

1,706

–29

17

172

44

–19

1,446

75

14,301

2015

1,821

–29

16

172

38

–13

1,562

75

15,064

2016

Estimate

1,926

–29

14

172

33

–9

1,670

75

15,795

2017

2,025

–29

13

172

29

–10

1,775

75

16,513

2018

2,115

–29

12

172

22

–15

1,879

75

17,284

2019

2,200

–29

11

172

13

–22

1,980

75

18,103

2020

2,290

–29

10

172

14

–36

2,085

75

18,967

2021

Debt held by the public net of financial assets ..........
7,894
9,505 10,585 11,344 11,988 12,595 13,243 13,869 14,488 15,169 15,903 16,677
* $500 million or less.
1
A decrease in the Treasury operating cash balance (which is an asset) is a means of financing a deficit and therefore has a negative sign. An increase in checks
outstanding (which is a liability) is also a means of financing a deficit and therefore also has a negative sign.
2
Includes assumed Supplementary Financing Program balance of $200 billion on September 30, 2011, and zero on September 30, 2012, and beyond.
3
Includes checks outstanding, accrued interest payable on Treasury debt, uninvested deposit fund balances, allocations of special drawing rights, and other liability
accounts; and, as an offset, cash and monetary assets (other than the Treasury operating cash balance), other asset accounts, and profit on sale of gold.
4
Consists mainly of debt issued by the Federal Financing Bank (which is not subject to limit), debt held by the Federal Financing Bank, the unamortized discount (less
premium) on public issues of Treasury notes and bonds (other than zero-coupon bonds), and the unrealized discount on Government account series securities.
5
The statutory debt limit is $14,294 billion, as enacted on February 12, 2010.
6
Treasury securities held by the public and zero-coupon bonds held by Government accounts are almost all measured at sales price plus amortized discount or less
amortized premium. Agency debt securities are almost all measured at face value. Treasury securities in the Government account series are otherwise measured at face
value less unrealized discount (if any).
7
At the end of 2010, the Federal Reserve Banks held $811.7 billion of Federal securities and the rest of the public held $8,207.2 billion. Debt held by the Federal Reserve
Banks is not estimated for future years.

23

109

Government-sponsored enterprise preferred stock ..............
–29

77

TARP equity purchase accounts ......................................

Other assets net of liabilities .................................................

–32

Non-Federal securities held by NRRIT .................................

668

Guaranteed loan accounts ................................................

310

9,019

Direct loan accounts .........................................................

Credit financing account balances:

Treasury operating cash balance 2 ........................................

Less financial assets net of liabilities:

Debt held by the public..................... ............................................

Debt Held by the Public Net of Financial Assets:

Actual
2010

(In billions of dollars)

Table S–14. Federal Government Financing and Debt—Continued

204
SUMMARY TABLES

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