In February, President Obama submitted his 2012 budget request to Congress. House Republicans followed with their own plan in April, and Obama countered with a new "framework" a week later. Meanwhile, Vice President Biden is trying to craft a bipartisan proposal and a similar effort in the Senate seems to have fallen apart. Confused? Use this graphic to explore spending cuts and revenue changes under the four main proposals currently on the table.
Jump to analysis of: Debt | Breakdown by category
Now showing:
Deficit
All of the plans would require the United States to borrow trillions of dollars more during the next decade, albeit less than what would be needed to fund current policies.
Deficits, in billions (hover on the lines for details)
Obama's framework would reduce the deficit against the current baseline, but would still require another $7 trillion in borrowing during the next decade.
The deficit would shrink the most under the House GOP plan and the recommendations offered in December by the fiscal commission.
Now showing:
Debt
The debt is the accumulation of annual deficits. As a percentage of the economy, it is larger than at any time in U.S. history except for the period shortly after World War II.
Debt projections as a percentage of GDP (hover on the lines for details)
Under both of Obama's plans, the national debt would continue rising as a percent of gross domestic product.
While the total debt would keep growing under the House and fiscal commission plans, the rate of borrowing would slow and the debt would slowly begin to diminish as a percent of GDP.
Breakdown by category
Select a category to see how the different plans would affect spending and revenue over the next 10 years:
- Security (discretionary)
- Non-security discretionary
- Social Security
- Health care
- Other mandatory
- Net interest
- Revenues
Budget proposal | Cuts/increases | Spending over |
|---|---|---|
Obama's framework Holds growth below the level of inflation. | $8,078 billion | |
Obama's budget Holds growth to near inflation. | $8,558 billion | |
House budget Holds growth to near inflation. | $8,298 billion | |
Fiscal commission Freezes spending in 2012 and returns to real 2008 levels in 2013. | $7,458 billion |
*Baseline assumes George W. Bush-era tax cuts are made permanent on income under $250,000 but allowed to expire in 2012 on income above that amount.
SOURCE: Committee for a Responsible Federal Budget.
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