Table 18.1 reports the composition of the federal budget as a percentage of GDP in 2011. Create a similar table using the latest available data from the Economic Report of the President. Has the composition of spending and taxes changed? What about the budget balance?

TABLE 18.1 The U.S. Federal Government Budget, 2011 Percentage Dollars per of GDP 23.9 5.7 4.8 4.7 4.0 person 11.420 2,720 2,320 2.240 1,890 730 1,520 Total expenditures Health including Medicare) Social Security National defense Income security Net interest Other 3.2 15.3 7.2 7,300 3,460 2,590 570 670 Total revenues Individual income taxes Social insurance and retirement receipts Corporate income taxes Other 1.2 Budget deficit -8.6 -4,120