Your chart seems off. FY 2012 is projected to be around 650 billion, and 2013 at even less than that. The only way we can achieve those numbers is through massive defense cuts.
In an unrelated matter, I understand the 1.4 Trillion deficit the year Bush left office (bailout 700 billion + stimulus 800 billion); however, I don’t understand why it would be trillion+ for a couple of years afterwards....Some of it might be lost tax revenues, increased debt payment, few workers paying less in tax....however, this does not compute. Please explain if someone has a logical answer. Thanks.
At the time this chart was put together those were projection. Like all Govt projections, it is long on wishful thinking.
That trillion in stimulus spending has continued year after year. One of the bonuses of not having a budget.