| Time Frame | Total Spending (in $ Billions) | Total revenue (in $ Billions) | Total GDP (in $ Billions) |
| 1960-2010 | $530-$3,430 | $531-$2,140 | $307-$147 |
| 1960-1969 | $530-$867 | $531-$883 | $307-$464 |
| 1970-1979 | $877-$1,120 | $864-$1126 | $470-$642 |
| 1980-1989 | $1,136-$1,179 | $1,190-$1,550 | $643-$871 |
| 1990-1999 | $1,189-$2,123 | $1,560-$2,290 | $893-$1,190 |
| 2000-2010 | $2200-$3430 | $2490-$2140 | $125-$147 |
1960-2010
Being a larger time frame, it shows that with the passage of time the spending and revenue increased from a small amount to a larger amount. In 1960s, US was spending less, that might be because the industries were not developed and the revenue was also almost equal to the spending (Ghysels & Ozkan, 2015). But, in the yeae 2010 the spending shows a diverse increase and there is a deficit of 1.6% in the GDP.
1960-1969
In 1960, there was a 0.1% surplus in the spending and earning compared to the administrative average of -0.5%. But, by the year 1969, there were more earning and spending which goes upto 1% in total. By this time, US was increasing their net income and assisting the GDP which was at $464B (Ghysels & Ozkan, 2015).
1970-1979
In this time frame, there is a diverse increase in both spending and revenue. In 1970, the tax revenues are termed at $864B with $877B as spending, giving the country a negative affect as their income is not higher than their spendings (Elmendorf & Sheiner, 2017). While uptil 1979, this issue shows a good effect as the difference goes from negative to positive.
1980-1989
Still in this era, there is a slight difference in the spending and earning. However, there is a -2.6% deficit which makes the tax revenues even lower than the country’s spending. In 1989, the deficit moves upto -2.7% which shows a decline in the financial conditions (Elmendorf & Sheiner, 2017).
1990-1999
With the increase in time, 1990 shows even more bad results. The spending in this year was termed at $1,189-$1,560, creating a -3.7% deficit in their GDP. Due to increase in the industry of the country, these figures move upto 1.3% surplus GDP in 1999 (Gilpin et al., 2017).
2000-2010
In this era, the coutry tries to move to the better side of the GDP, as it increases to 2.3% surplus showing a more spending than the tax revenues in 2000. By 2010, there was again a -8.7% deficit in the financial conditions where the country is not earning that much compared to its liabilities (Harris & Johnston, 2017).
References
Elmendorf, D. W., & Sheiner, L. M. (2017). Federal Budget Policy with an Aging Population and Persistently Low Interest Rates. Journal of Economic Perspectives, 31(3), 175-94.
Ghysels, E., & Ozkan, N. (2015). Real-time forecasting of the US federal government budget: A simple mixed frequency data regression approach. International Journal of Forecasting, 31(4), 1009-1020.
Gilpin, E., Emery, S., Farkas, A., Distefan, J., White, M., & Pierce, J. P. (2017). The California Tobacco Control Program: A Decade of Progress. Results from the California Tobacco Survey, 1990-1999.
Harris, R., & Johnston, M. (2017). Federal Budget 2017: What it Means for Victoria.
