Post by Bruce on Jul 1, 2014 1:09:36 GMT -5
Mr. Muhlenberg of Pennsylvania, on behalf of President Washington, presents the federal budget for 1791 and 1792:
NATIONAL STATS:
REVENUE:
1This includes HB 1.011 which seems destined to pass.
EXPENDITURES:
1Discretionary funding is money set aside for Congress to spend on important projects, aid relief, tax breaks, etc. If unspent, it shall be used to retire the national debt at the end of such year as the monies are authorized.
TOTALS:
| 1791 | 1792 | |
| Population | 4.0 million | 4.2 million |
| GDP | $200 million | $210 million |
| National Debt | $21.2 million | $21.74 million |
REVENUE:
| 1791 | 1792 | |
| Trading Taxes1 | $3.1 million | $3.4 million |
| Domestic Taxes | $0 | $0 |
| Other Revenue | $.2 million | $.25 million |
| Total Revenue | $3.3 million | $3.65 million |
1This includes HB 1.011 which seems destined to pass.
EXPENDITURES:
| 1791 | 1792 | |
| Foreign Affairs | $.04 million | $.06 million |
| Defense | $1.2 million | $1.5 million |
| Other Departments | $.5 million | $.6 million |
| Discretionary1 | $1 million | $1 million |
| Government Operations | $.25 million | $.3 million |
| Interest on Debt (4%) | $.85 million | $.87 million |
| Total Spending | $3.84 million | $4.33 million |
1Discretionary funding is money set aside for Congress to spend on important projects, aid relief, tax breaks, etc. If unspent, it shall be used to retire the national debt at the end of such year as the monies are authorized.
TOTALS:
| 1791 | 1792 | |
| Total Revenue | $3.3 million | $3.65 million |
| Total Spending | $3.84 million | $4.33 million |
| Budget Surplus | ( - $.54 million) | ( - $.68 million) |
