Deficit Calculator Economics

[Slikk Huisenga]

Thereis considerable concern that the debt burden that United States will face by the end of the next decade will place serious strains on the government and the economy. It is not clear how high the debt can go before it begins to hamper economic growth or raise questions about the creditworthiness of the U.S. government. As is shown on the calculator below, the debt burden has been much higher for the United States in the past and is currently far higher for many countries than it is projected to be in the baseline scenario for the United States in 2020.

This calculator allows users to see how various policies will affect the debt burden in 2020. These options have appeared in public debates (or should) and would have a substantial impact on the deficit. The calculator allows users to select whatever target they consider appropriate given the various reference points shown.

The measure of the debt used in this analysis is the commonly used measure of "publicly held" debt minus the portion of the debt held by the Federal Reserve Board. Publicly held debt refers to all the debt held by individuals, corporations, mutual funds, pension funds, foreign investors or foreign central banks. Interest is paid on these holdings from the government to the owners of the debt.

The Federal Reserve Board owns hundreds of billions of dollars of government debt that is included in publicly held debt. However, the interest on the debt held by the Federal Reserve Board is paid to the Federal Reserve Board. Most of this interest is then rebated back to the Treasury (some money is kept to cover the Fed's operating costs), so it is not a net drain on the Treasury. Therefore, insofar as we are interested in the burden that the debt will pose on taxpayers, we should exclude the portion of the debt held by the Fed.

Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. She is a financial therapist and transformational coach, with a special interest in helping women learn how to invest.

A current account balance deficit reflects a government and an economy that is a net debtor to the rest of the world. It is investing more than it is saving and is using resources from other economies to meet its domestic consumption and investment requirements.

A budgetary deficit is referred to as the situation in which the spending is more than the income. Although it is mostly used for governments, this can also be broadly applied to individuals and businesses.

Fiscal deficit is defined as the excess of total expenditures over the total receipts, excluding the borrowings in a year. In other words, this can be defined as the amount that the government needs to borrow in order to meet all expenses.

The more the fiscal deficit, the more will be the amount borrowed. Fiscal deficit helps in understanding the shortfall that the government faces while paying for the expenditures in the absence of lack of funds.

Revenue expenditure is defined as the excess of total revenue expenditure over the total revenue receipts. In other words, the shortfall of revenue receipts as compared to that of the revenue expenditure is known as revenue deficit.

Primary deficit is said to be the fiscal deficit of the current year subtracted by the interest payments that are pending on previous borrowings. In other words, the primary deficit is the requirement of borrowing without the interest payment.

This concludes the topic of budget deficit, which is one of the metrics of measuring the economic growth of a nation along with GDP. To read more of such interesting concepts on economics for class 12, stay tuned to our website.

As of Jan. 1, 2023, producers and suppliers of high-carbon-intensity fuels must register, report, and meet the requirements of the Clean Fuel Standard program. Producers and suppliers of low-carbon-intensity fuels may opt in and meet the requirements to generate credits.

Registration for the Clean Fuel Standard program opened on Jan. 1, 2023. We developed the Washington Fuels Reporting System (WFRS) to manage all data and processes related to Clean Fuel Standard implementation, including:

All invoices will be due within 30 days of receipt and must be paid using our online payment system. A late fee surcharge of fifty dollars or 10% of the amount indicated on the billing statement, whichever is more, may be assessed for any fee received more than 30 days past the due date for fee payment. ( WAC 173-455-150)

The fee rule determined that the fee will be paid by credit and deficit generators. Credit generators may choose to designate a credit aggregator to report on their behalf, but the registered credit generator must pay the participation fee.

"Credit generator" means a person eligible to generate credits by providing clean fuels for use in Washington and who voluntarily registers to participate in the clean fuels program. (WAC 173 424 110(42))

Yes, you will be invoiced for the flat participation fee. Participants that have applied for fuel pathways will pay the flat participation fee to support program administration, which includes the process to review and approve fuel pathway applications.

Program participants are expected to report all fuel transactions each quarter, as outlined in the schedule below. Program participants should begin the reporting process early and reconcile any discrepancies with business partners before each reporting deadline.

You must be registered and your account approved before credits can be claimed. Credits are designated based on quarterly reports being submitted and, when necessary, reconciled with business partners.

To estimate the number of credits or deficits you may generate in the program, use the Clean Fuel Standard Obligation Calculator. This calculator is a tool for estimation only. It does not change any individual entity's obligations under the Clean Fuel Standard program.

Each fuel reported in the Clean Fuel Standard is assigned a carbon intensity (CI) score based on its unique fuel pathway. A fuel pathway is the sum of the greenhouse gases emitted throughout each stage of a fuel's production and supply, also known as the "well-to-wheels" or life-cycle analysis for the fuel. Carbon intensity is expressed as the amount of life cycle greenhouse gas emissions per unit of fuel energy in grams of carbon dioxide equivalent per megajoule (g CO2e/MJ). Carbon intensity includes the direct effects of producing and using this fuel, as well as some indirect effects that may be associated with how the fuel affects other products and markets.

Companies, account administrators, and owners or operators of fuel-supplying equipment must register in the Washington Fuels Reporting System (WFRS). Fuel pathway applications are submitted through the Alternative Fuels Portal (AFP). See the WFRS and AFP User Guide in the Clean Fuel Standard guidance document library for detailed information.

Temporary Fuel Pathway ApplicationWe invite the public and local governments, tribes, and any others, to review and comment on an application for new temporary fuel pathway and carbon intensity value under the Clean Fuel Standard.

We may approve a new temporary pathway for a fuel or feedstock fuel combination (WAC 173-424-610(11)) not found in Table 8 of WAC 173-424-900. Public comments on proposed new temporary fuel pathway will be accepted for 45 days prior to certification. If relevant comments received during this period require significant revisions of the originally published pathway, an updated pathway will be posted for additional public comment. Upon certification, this new temporary pathway will be available for WFRS-CBTS reporting for the quarter in which it is certified.

If the fuel has a carbon-intensity value approved by the California Air Resources Board (CARB) and/or the Oregon Department of Environmental Quality, the fuel producer can apply to us to accept that value with modifications as needed to reflect its destination to Washington. The fuel producer can submit the application packet sent to CARB or Oregon, and approval from CARB or Oregon. The applicant should also submit a version of the WA-GREET 3.0 model modified to reflect the transportation mode and distance to Washington (not to California nor Oregon). Fuel producers will submit their fuel pathway applications through the Washington Fuels Reporting System.

If the fuel does not have a carbon-intensity value from California or Oregon, then the fuel producer can submit their fuel pathway application to us for certification. We have developed a series of simplified calculators for well-understood fuel types and the WA-GREET model for more complex fuel pathways. These are listed in the "WA-GREET" tab. Fuel producers will submit their fuel pathway applications through the Washington Fuels Reporting System.

The Clean Fuels Program Rule (WAC 173-424-630) requires a unique carbon intensity for electricity generated by each electric utility in Washington. In coordination with the Washington State Department of Commerce's Fuel Mix Disclosure annual report (May 2023 annual report), we developed the 2023 Utility-Specific Carbon Intensity. Find current fuel pathways by searching or sorting by feedstock, fuel, and/or facility name.

Washington determines the carbon intensity of fuels on a lifecycle basis using the GREET model. Each individual transportation fuel has a "fuel pathway" that describes how it is made and delivered to Washington for use in vehicles. Each pathway is assigned its own carbon-intensity value. Carbon-intensity values are shown in grams of carbon dioxide equivalent per megajoule of energy (gCO2e/MJ).

"The United States debt, foreign and domestic, was the price of liberty. The faith of America has been repeatedly pledged for it... Among ourselves, the most enlightened friends of good government are those whose expectations of prompt payment are the highest. To justify and preserve their confidence; to promote the increasing respectability of the American name; to answer the calls of justice; to restore landed property to its due value; to furnish new resources, both to agriculture and commerce; to cement more closely the Union of the States; to add to their security against foreign attack; to establish public order on the basis of an upright and liberal policy; these are the great and invaluable ends to be secured by a proper and adequate provision, at the present period, for the support of public credit."

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