How much did the federal government spend in 2010?

How much did the federal government spend in 2010?

2010 United States federal budget

President Barack Obama with OMB Director Peter Orszag.
Submitted February 26, 2009
Submitted to 111th Congress
Total revenue $2.381 trillion (requested) $2.163 trillion (actual) 14.6% of GDP (actual)
Total expenditures $3.552 trillion (requested) $3.456 trillion (actual) 23.4% of GDP (actual)

What was Canada’s deficit in 2010?

C$33.3 billion
2010 Canadian federal budget

Presented March 4, 2010
Total revenue C $231.4 billion
Total expenditures C$280.5 billion
Deficit C$33.3 billion
‹ 2009 2011 ›

How much did the government spend in 2009?

2009 United States federal budget

Submitted February 4, 2008
Total expenditures $3.107 trillion (estimated) $3.518 trillion (actual) 24.4% of GDP (actual)
Deficit $407 billion (requested) $1.413 trillion (actual) 9.8% of GDP (actual)
Debt $11.876 trillion (at fiscal end) 82.4% of GDP
GDP $14.415 trillion

How much did the federal government spend in 2008?

2008 United States federal budget

Submitted February 5, 2007
Total expenditures $2.902 trillion (requested) $2.983 trillion (actual) 20.2% of GDP (actual)
Deficit $239 billion (requested) $458.6 billion (actual) 3.1% of GDP (actual)
Debt $9.986 trillion (at fiscal end) 67.7% of GDP (actual)
GDP $14.752 trillion

What did the government spend as a percentage of GDP in 2010?

By the OECD’s measure, U.S. government spending topped 42 percent of GDP in 2009 and 2010 — when the economy hit bottom — and has slipped to 41 percent this year.

What is the main goal in creating the federal budget?

What Is the Main Goal in Creating the Federal Budget? The federal budget is used to set monetary priorities, such as social security, defense, and education, among the many items, and to identify how it will pay for those priorities with tax revenues.

When did Canada have a budget surplus?

After their budget subjected all government spending to intense review and cut public sector employment dramatically, the situation began to improve. Federal spending fell to just over 15 per cent of the economy by 2008 and starting in 1997, surpluses became an annual event.

When did Canada last have a balanced budget?

The balanced budget era could be said to have run from roughly 1994 to 2015, though its roots go back to the 1980s — but it was in some trouble even before Justin Trudeau’s Liberals came to power on an explicit promise to spend more.

Why did the government operate with such a large budget deficit in late 2009 and 2010?

A slow economic recovery kept tax revenue relatively low for several years. Second, legislators used the recession as an excuse to massively increase the amount of federal spending. Low tax revenue and high spending combined to generate federal deficits of over $1 trillion per year starting in 2009.

What happened to government expenditure levels in 2009?

Outlays rose by 18 percent in 2009, the fastest rate of growth since 1975. All other federal spending accounted for 22.2 percent of GDP in 2009, up from 20.6 percent in 2008.

How much money did banks lose in 2008?

The International Monetary Fund estimated that large U.S. and European banks lost more than $1 trillion on toxic assets and from bad loans from January 2007 to September 2009.

What caused the financial crisis of 2008?

The financial crisis was primarily caused by deregulation in the financial industry. That permitted banks to engage in hedge fund trading with derivatives. Banks then demanded more mortgages to support the profitable sale of these derivatives. That created the financial crisis that led to the Great Recession.

When was the 2010 federal budget in Canada?

2010 Canadian federal budget. The Canadian federal budget for the 2010-2011 fiscal year (April 1, 2010 – March 31, 2011) was presented to the House of Commons of Canada by Finance Minister Jim Flaherty on March 4, 2010 after returning from a two-month prorogued parliament.

What does budget 2010 mean for Canada’s space program?

To ensure that Canada maintains its strong position in this important field, Budget 2010 provides the Canadian Space Agency with $397 million over five years to work with the Canadian space industry to develop the RADARSAT Constellation Mission, the next generation of advanced radar remote sensing satellites.

What does budget 2010 mean for Environment Canada’s Action Plan?

Budget 2010 provides Environment Canada with $8 million per year ongoing to continue to implement its action plan to protect the Great Lakes.

What does the 2010 budget do for Genome Canada?

Budget 2010 provides Genome Canada with an additional $75 million in 2009–10 to launch a new targeted research competition focused on forestry and the environment and sustain funding for the regional genomics innovation centres. Rick Hansen Foundation

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