1. Overview of the National Economy Presented by John Olienyk, PhD Senior Associate Dean College of Business Colorado State University Burning Issues Lecture Series YMCA Camp of the Rockies Estes Park, Colorado August 10, 2011
7. Duration of Unemployment Percent of labor force > 15 weeks left scale Median right scale < 5 weeks left scale http://research.stlouisfed.org/publications/net
14. Pres. Obama’s 2012 Budget Proposal FY 2012 receipts (revenues) ~$2.6 trillion FY 2012 expenditures ~$3.7 trillion Defense spending ~5% of GDP (20%) Social Security spending ~5% of GDP (21%) Health care programs (Medicare, Medicaid, CHIP) ~6% of GDP (23%) Unemployment compensation & welfare programs ~4% of GDP (14%) Interest on federal debt ~2% of GDP (7%) Other ~4% of GDP (15%) Budget deficit ~$1.1 trillion ~7% of GDP
15. FY 2011 Budget http://www.cbpp.org/cms/index.cfm?fa=view&id=1258Center on Budget and Policy Priorities