Web Links

Marginal URLs:

• p. 330: Go to http://www.whitehouse.gov/omb/ to learn about the current outlook for the budget of the U.S. government.

• For a summary of the phased-in Japanese tax increases that began in 2005, go to http://www.isa.org/InTechTemplate.cfm?Section=InTech&template=/ContentManagement/ContentDisplay.cfm&ContentID=41309.
• Track the latest developments in Japanese fiscal policy at http://www.mof.go.jp/english/.

Federal Government Spending and Taxation

A quick way to keep up with the federal government's spending and taxation is by examining federal budget data at the White House Internet address.

Title: Historical Tables: Budget of the United States Government

Navigation: Use http://www.whitehouse.gov/omb/budget/ to visit the Office of Management and Budget. You should see the budget for the most recent fiscal year. Click on Historical Tables.

Application: After the document downloads, perform the indicated operations and answer the questions.

1. Go to section 2, "Composition of Federal Government Receipts." Take a look at Table 2.2, "Percentage Composition of Receipts by Source." Before World War II, what was the key source of revenues of the federal government? What has been the key revenue source since World War II?

2. Now scan down the document to Table 2.3, "Receipts by Source as Percentages of GDP." Have any government revenue sources declined as a percentage of GDP? Which ones have noticeably risen in recent years?