An Analysis of the President's Budgetary Proposals for Fiscal Year 1981.
Abstract
Analysis of the President's Budgetary Proposals for Fiscal Year 1981 was prepared at the request of the House Committee on Appropriations to assist Members and staff in preparing for overview hearings on the Administration's fiscal year 1981 budget proposals. The report analyzes the economic outlook for the next two years and the fiscal year impact of the President's budgetary proposals. It also examines the major features of the administration's revenue and spending proposals for 1981 and compares them with past trends and current laws. The effect of the latest Administration budget estimates for the current fiscal year (1980) is presented. Finally, the report discusses the budgetary outlook for 1982 to 1985. The President's budget for fiscal year 1981 recommends outlays of $615.8 billion, revenues of $600.0 billion, and a budget deficit of $15.8 billion. The proposed budget places primary emphasis on restraining inflation and moving towards budgetary balance. The 1981 budget deficit would be $24 billion lower than the 1980 deficit estimated by the Administration. This reduction would be achieved by allowing little real growth in total spending and allowing tax burdens to rise to the highest levels since World War II.
Document Details
- Document Type
- Technical Report
- Publication Date
- Feb 01, 1980
- Accession Number
- ADA081349
Entities
Organizations
- Congressional Budget Office