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1.83 MB
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Presentation slides
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1.83 MB
Summary
Two slides from a presentation titled 'USA Inc. | What Might a Turnaround Expert Consider?' by KPCB (Kleiner Perkins). The document analyzes US Federal expense trends between 1965 and 2005, highlighting a significant shift where entitlement spending has risen to 51% of the budget, effectively crowding out defense and non-defense discretionary spending. The document bears a 'HOUSE_OVERSIGHT' Bates stamp, indicating it was part of a document production for a Congressional investigation.
Locations (1)
| Location | Context |
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Key Quotes (3)
"Entitlement + One-Time Items Are Crowding Out Other Federal Spending"Source
HOUSE_OVERSIGHT_020957.jpg
Quote #1
"Entitlement spending has risen to 51% of total spending, higher than 40-year average of 42%"Source
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Quote #2
"Should entitlement spending account for 51% (and rising) share of total USA Inc.’s spending, while other key areas (such as education, infrastructure, energy, law enforcement…) account for only 22% (and falling) of spending?"Source
HOUSE_OVERSIGHT_020957.jpg
Quote #3
Full Extracted Text
Complete text extracted from the document (1,843 characters)
Expense Drivers as Percent of Total Expenses:
Entitlement + One-Time Items Are Crowding Out Other Federal Spending
Entitlement + One-Time Items Are Crowding Out Other Federal Spending
1965 – 2005 USA Real Federal Expenses Mix by Category
Share of Total Expenses
1965 2005 40-yr Average '05 vs. 40-yr Variance
1965 2005 40-yr Average '05 vs. 40-yr Variance
Entitlement Expenses 21% 51% 42% 9%
Defense 43 20 24 -4
Non-Defense Discretionary* 29 22 23 -1
Net Interest Payments 7 7 11 -4
Defense 43 20 24 -4
Non-Defense Discretionary* 29 22 23 -1
Net Interest Payments 7 7 11 -4
Total Federal Expenses 100% 100% 100% 0%
Normal
Note: All data are inflation adjusted using GDP price index from BEA; '05 vs. 40-yr variance is rounded. *Non-defense discretionary spending includes education, infrastructure, agriculture, housing, etc. Data source: White House Office of Management & Budget.
KPCB www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 231
KPCB www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 231
Category Expenses as Percent of Expenses:
Observations from Previous Slide
Observations from Previous Slide
Entitlement spending has risen to 51% of total spending, higher than 40-year average of 42% (and much higher than the 21% in 1965), defense spending has fallen to 20% from 24% average, non-defense discretionary spending (including education, infrastructure, energy, law enforcement and veteran services) has fallen to 22% from 23%, and net interest payments have fallen to 7% from 11%, despite higher debt (largely because of declining interest rates). These trends have become more pronounced in recent years.
Questions:
1) Should entitlement spending account for 51% (and rising) share of total USA Inc.’s spending, while other key areas (such as education, infrastructure, energy, law enforcement…) account for only 22% (and falling) of spending?
Note: All data are inflation adjusted using GDP price index from BEA; '05 vs. 40-yr variance is rounded.
Data source: White House Office of Management & Budget.
KPCB www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 232
Data source: White House Office of Management & Budget.
KPCB www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 232
HOUSE_OVERSIGHT_020957
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