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The introduction outlines economic rationales for investment, including public goods, long-run growth, and support for federal operations. It reports 2012 investment levels, shares of federal spending and GDP, and breakdowns between defense and nondefense activities. 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It is grouped into physical capital, research and development, and education and training.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What rationales for federal investment are described in the introduction?",{"text":117,"@type":113},"The document describes rationales such as providing public goods that the private sector and subnational governments would not supply efficiently, promoting long-term growth, and supporting federal government operations through needed structures and equipment.",{"name":119,"@type":110,"acceptedAnswer":120},"What are the key figures for federal investment in 2012?",{"text":121,"@type":113},"In 2012, the federal government spent $531 billion on investment, about 15% of federal spending and 3% of GDP. The document also states that 60% of investment was nondefense and 40% defense, with further breakdowns by purpose.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},583456,1792062533,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":24,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145,"preview_page_count":4},962084928904,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","CBO  \nDECEMBER 2013  \nNotes  \nNumbers in this document may not add up to totals because of rounding.  \nUnless otherwise indicated, the years referred to in this document are fiscal years, and dollar values are expressed in 2012 dollars, having been adjusted to remove the effects of inflation using the gross domestic product price deflator of the Bureau of Economic Analysis.  \nValues for federal investment do not include investment in higher education through student loan programs unless otherwise indicated.  \nThe photographs on the cover, which come from Shutterstock, were taken by Gubin Yury (bridge), Armin Staudt (microscope), and S. Tiptanatoranin (whiteboard) .  \nCBO  \nPub. No. 4699  \nContents  \nIntroduction and Summary 1  \nHow Does the Federal Government Support Investment? 1  \nWhat Does the Federal Government Invest In? 2  \nHow Does the Federal Government Account for Investment? 3  \nWhat Are the Benefits of Federal Investment? 4  \nFederal Investment  \nExhibits 7–12  \nFederal Nondefense Investment  \nExhibits 14–20  \nFederal, State, Local, and Private Nondefense Investment  \nExhibits 22–25  \nAppendix: Sources and Methods 26  \nRelated Work by the Congressional Budget Office 31  \nAbout This Document 32  \nCBO  \nList of Exhibits  \nExhibit Page  \nFederal Investment  \n1. Federal Investment, 2012 7  \n2. Federal Nondefense and Defense Investment, 2012 8  \n3. Federal Investment as a Share of Total Federal Spending, 2012 9  \n4. Federal Nondefense and Defense Investment, 1962 to 2012 10  \n5. Actual and Projected Federal Nondefense and Defense Investment, 1962 to 2023 11  \n6. Federal Nondefense and Defense Investment Relative to the Budget, 1962 to 2012 12  \nFederal Nondefense Investment  \n7. Categories of Federal Nondefense Investment, 1962 to 2012 14  \n8. Grants to State and Local Governments as a Share of Federal  \nNondefense Investment, 2012 15  \n9. Education and Training: Federal Nondefense Investment by Activity, 1962 to 2012 16  \n10. Education and Training: Federal Nondefense Investment by Activity, 2012 17  \n11. Physical Capital: Federal Nondefense Investment by Budget Function, 2012 18  \n12. Research and Development: Federal Nondefense Investment by Budget Function, 1962 to 2012 19  \n13. Stages of Federal Research and Development Investment, 2012 20  \nFederal, State, Local, and Private Nondefense Investment  \n14. Educational Institutions: Sources of Revenues, 2009–2010 Academic Year 22  \n15. Transportation Infrastructure: Sources of Nondefense Investment, 1962 to 2010 23  \n16. Water Infrastructure: Sources of Nondefense Investment, 1962 to 2010 24  \n17. Research and Development: Sources of Investment, 1962 to 2010 25 CBO  \nIntroduction and Summary  \nThe federal government pays for a wide range of goods and services that are expected to be useful some years in the future. Those purchases, called investment, fall into three categories: physical capital, research and development (R&D), and education and training. There are several economic rationales for federal investment. It can provide public goods that the private sector and state and local governments would not provide efficiently, such as national defense and basic scientific research. It can promote long-term economic growth—as education spending does by developing a skilled workforce, as R&D spending does by prompting innovation, or as infrastructure spending does by facilitating commerce. And it can support the work of the federal government by, for instance, providing the structures and equipment necessary to perform federal activities.  \nIn 2012, the federal government spent $531 billion on investment, representing 15 percent of federal spending and 3 percent of gross domestic product (GDP) . Those shares have remained roughly stable over the past 20 years, though investment by the federal government approached 4 percent of GDP in 2010 and 2011 after the American Recovery and Reinvestment Act of 2009 (ARRA, Public Law 111-5) temporarily expanded  \nfunding for a number","cbCainYibMTaid8e","https://ap.wps.com/l/cbCainYibMTaid8e","pdf",574236,36,"English","# Introduction and Summary\n## How Does the Federal Government Support Investment?\n## What Does the Federal Government Invest In?\n## How Does the Federal Government Account for Investment?\n## What Are the Benefits of Federal Investment?\n# Federal Investment\n## Federal Nondefense Investment\n## Federal, State, Local, and Private Nondefense Investment\n# Appendix: Sources and Methods\n# Related Work by the Congressional Budget Office\n# About This Document","[{\"question\":\"How does the document define federal investment?\",\"answer\":\"Federal investment refers to government purchases of goods and services expected to be useful in future years. It is grouped into physical capital, research and development, and education and training.\"},{\"question\":\"What rationales for federal investment are described in the introduction?\",\"answer\":\"The document describes rationales such as providing public goods that the private sector and subnational governments would not supply efficiently, promoting long-term growth, and supporting federal government operations through needed structures and equipment.\"},{\"question\":\"What are the key figures for federal investment in 2012?\",\"answer\":\"In 2012, the federal government spent $531 billion on investment, about 15% of federal spending and 3% of GDP. The document also states that 60% of investment was nondefense and 40% defense, with further breakdowns by purpose.\"}]","CBO - December 2013 - Notes and Contents on Federal Investment | PDF",1792047278,91]