Fiscal 2011 vs Fiscal 2010
Tightening (change from 2010 to 2011):
1.1% of GDP fall indiscretionary, split evenly between defense and non-defense;
0.7% of GDP fall in mandatory;
receipts up 1.5%.
net interest up 0.8%
Net impact: 2.5% of GDP worth of fiscal tightening,
That is big, very big for a 9.5% unemoyment economy.
