PRESIDENT’S TAX RELIEF

2007 Average Tax Cut Per Taxpayer

$5,000 $4,712

$4,000

$2,864 $2,934
$3,000

$2,216
$2,000

$1,000

$0 Average 45 Million 15 Million 27 Million

Taxpayer Families with Seniors Small Business
Children Owners 1
 BALANCING THE BUDGET
Deficit in billions of dollars
500

413 Actuals
400
Projections
318
300
248 258
205 213
200
123
100 89

0
-33
-100
2004 2005 2006 2007 2008 2009 2010 2011 2012
2
 PRESIDENT’S BUDGET
Non-Defense Discretionary Spending
Budget authority in billions

500

480

460

440

420

400
2007 2008 2009 2010 2011 2012
Enacted 3
PRESIDENT’S BUDGET VS. CONGRESS’ BUDGET
Non-Defense Discretionary Spending
Budget authority in billions

500 President's Budget Congress' Budget

Congress wants to spend

480 $205 billion more than the
President's Budget.

460

440

420

400
2007 2008 2009 2010 2011 2012
Enacted 4
 CONGRESS’ TAX INCREASES
Dollars in billions

$2,000
$1.8 trillion

$1,500

$1,000

$500 $392 billion

$0 5-Year Increase 10-Year Increase

5
 PRESIDENT’S TAX INCREASES
Dollars in billions

$2,000

$1,500

$1,000

$500

$0 5-Year Increase 10-Year Increase

6
PRESIDENT’S VS. CONGRESS’ TAX INCREASES
Dollars in billions
$2,000
President's Tax Increase $1.8 trillion
Democrats' Tax Increase

$1,500

$1,000

$500 $392 billion

$0 $0
$0
President's Congress’ 5-Year President's Congress’ 10-year
Tax Increase Tax Increase Tax Increase Tax Increase
7