The annual budget of the United States is very complex, but this case requires that you analyze only a small portion of the historical tables that are presented as a part of each year’s budget. The fiscal year of the federal government ends on September 30. Obtain the budget documents needed at www.gpo.gov/ fdsys/ browse/ collectionGPO.action? collectionCode = BUDGET and follow these steps:

Click on the “Fiscal Year 2015” link.
Scroll down and select “Historical Tables.”
There are two options that can be used to download each historical data table. One is an XLS
(Excel) file format. This option will make completing this assignment easier.
You will need to use Table 1.1, Table 1.2, and Table 4.2 to complete the following requirements.

Required
a. Table 1.2 shows the budget as a percentage of gross domestic product (GDP). Using the data in the third column, “Surplus or Deficit,” determine how many years since 1960 the budget has shown a surplus and how many times it has shown a deficit. Ignore the “TQ” data between 1976 and 1977. This was a year that the government changed the ending date of its fiscal year.
b. Based on the data in Table 1.2, identify the three years with the highest deficits as a percentage of GDP. What were the deficit percentages for these years? Which year had the largest surplus and by what percentage?
c. Using your findings for Requirement b regarding the year with the highest deficit as a percentage of GDP, go to Table 1.1 and calculate the deficit for that year as a percentage of revenues. What percent of each dollar spent by the federal government in that year was paid for with tax revenues and what percent was paid for with borrowed funds?
d. The president of the United States from 1993 through 2000 was Bill Clinton, a Democrat. The president from 2001 through 2009 was George Bush, a Republican. These men had significant input into the federal budget for the fiscal years 1994–2001 and 2002–2009, respectively. Table 4.2 shows what percentage of the total federal budget was directed toward each department within the government. Compare the data on Table 4.2 for 1994–2001, the Clinton years, to the data for 2002–2009, the Bush years. Identify the five departments that appear to have changed the most from the Clinton years to the Bush years. Ignore “Allowances” and “Undistributed offsetting receipts.” Note, to approach this assignment more accurately, you should compute the average percentage for each department for the eight years each president served, and compare the two averages.