Over the next ten years, approximately $4 trillion of deficit reduction are set to take place through the Budget Control Act of 2011 (BCA) the American Taxpayer Relief Act of 2012 (ATRA) and the sequestration, which went into effect on March 1, 2013. This graph, from the introduction of The Hamilton Project’s 15 Ways to Rethink the Federal Budget shows how these policies are projected to affect the debt-to-GDP ratio over the next decade.
This chart presents the schedule for the Earned Income Tax Credit (EITC) for tax year 2014 and possible adjustments to maximize the impact.
This figure shows how SNAP has historically tracked rates of unemployment and economic downturns closely (denoted by the teal dotted line and gray bars, respectively). SNAP participation rates (as seen in the shaded blue area) are expected to fall as the economy continues to recover, as would be expected based on the pattern observed in previous recessions.
This figure compares the level of a household’s spending on food to the TFP level for its family size using data from the Consumer Expenditure Surveys from 1989 through 2011.
As shown in this chart, marginal tax rates are highest for those families with income at or above the FPL.
While the private sector has added jobs to the economy in every month since March 2010, a total increase of approximately 6.8 million jobs through April 2013, the public sector has contracted. This figure shows the ratio of government employment to the civilian non-institutional population going back to 1980. For the twenty years prior to the Great Recession, this ratio stayed relatively constant, but since then it has dropped precipitously (except for the temporary uptick in 2010 when government employment rose to accommodate demand for U.S. Census workers).