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FEDERAL FINANCE.

FEDERAL RECEIPTS, OUTLAYS, AND DEBT

In the first 7 months of fiscal 1999, there was a surplus of $64.7 billion, compared with a surplus of $54.7 billion a year earlier.
[Billions of dollars]

 Total

 Surplus
Final year or period or
 Receipts Outlays deficit
 (-)

1982 617.8 745.8 -128.0
1983 600.6 808.4 -207.8
1984 666.5 851.9 -185.4
1985 734.1 946.4 -212.3
1986 769.2 990.5 -221.2
1987 854.4 1,004.1 -149.8
1988 909.3 1,064.5 -155.2
1989 991.2 1,143.7 -152.5
1990 1,032.0 1,253.2 -221.2
1991 1,055.0 1,324.4 -269.4
1992 1,091.3 1,381.7 -290.4
1993 1,154.4 1,409.4 -255.0
1994 1,258.6 1,461.7 -203.1
1995 1,351.8 1,515.7 -163.9
1996 1,453.1 1,560.5 -107.5
1997 1,579.3 1,601.2 -21.9
1998 1,721.8 1,652.6 69.2
1999 (estimates) 1,806.3 1,727.1 79.3
Cumulative total,
 first 7 months:(1)
 Fiscal year 1998 1,025.9 971.1 54.7
 Fiscal year 1999 1,080.2 1,015.5 64.7

 On-budget

 Surplus
Final year or period or
 Receipts Outlays deficit
 (-)

1982 474.3 594.4 -120.1
1983 453.2 661.3 -208.0
1984 500.4 686.1 -185.7
1985 547.9 769.6 -221.7
1986 569.0 807.0 -238.0
1987 641.0 810.3 -169.3
1988 667.8 861.8 -194.0
1989 727.5 932.8 -205.2
1990 750.3 1,028.1 -277.8
1991 761.2 1,082.7 -321.6
1992 788.9 1,129.3 -340.5
1993 842.5 1,142.8 -300.4
1994 923.6 1,182.4 -258.8
1995 1,000.8 1,227.1 -226.3
1996 1,085.6 1,259.6 -174.0
1997 1,187.3 1,290.6 -103.3
1998 1,306.0 1,335.9 -29.9
1999 (estimates) 1,362.3 1,404.0 -41.7
Cumulative total,
 first 7 months:(1)
 Fiscal year 1998 782.2 790.6 -8.4
 Fiscal year 1999 822.0 830.9 -8.8

 Off-budget Federal debt
 (end of
 period)

 Surplus Held by
Final year or period Re- Out- or Gross the
 ceipts lays deficit Federal public
 (-)

1982 143.5 151.4 -7.9 1,137.3 919.8
1983 147.3 147.1 .2 1,371.7 1,131.6
1984 166.1 165.8 .3 1,564.7 1,300.5
1985 186.2 176.8 9.4 1,817.5 1,499.9
1986 200.2 183.5 16.7 2,120.6 1,736.7
1987 213.4 193.8 19.6 2,346.1 1,888.7
1988 241.5 202.7 38.8 2,601.3 2,050.8
1989 263.7 210.9 52.8 2,868.0 2,189.9
1990 281.7 225.1 56.6 3,206.6 2,410.7
1991 293.9 241.7 52.2 3,598.5 2,688.1
1992 302.4 252.3 50.1 4,002.1 2,998.8
1993 311.9 266.6 45.3 4,351.4 3,247.5
1994 335.0 279.4 55.7 4,643.7 3,432.1
1995 351.1 288.7 62.4 4,921.0 3,603.4
1996 367.5 300.9 66.6 5,181.9 3,733.0
1997 392.0 310.6 81.4 5,369.7 3,771.1
1998 415.8 316.6 99.2 5,478.7 3,719.9
1999 (estimates) 444.0 323.1 121.0 5,614.9 3,669.7
Cumulative total,
 first 7 months:(1)
 Fiscal year 1998 243.7 180.5 63.2 5,452.5 3,770.1
 Fiscal year 1999 258.1 184.6 73.5 5,537.5 3,674.4


(1) Data from current issue Monthly Treasury Statement.

NOTE:--Data (except as noted) are from Budget of the United States Government, Fiscal Year 2000, issued February 1, 1999.

Sources: Department of the Treasury and Office of Management and Budget.

FEDERAL RECEIPTS BY SOURCE AND OUTLAYS BY FUNCTION

In the first 7 months of fiscal 1999, receipts were $54.3 billion higher than a year earlier and outlays were $44.4 billion year.
[Billions od dollars]

 On-budget and off-budget receipts

 Social
 Cor- insur-
 Individ- pora- ance
 ula tion and
 Fiscal year or Total income income retire- Other
 period taxes taxes ment
 receipts

1982 617.8 297.7 49.2 201.5 69.3
1983 600.6 288.9 37.0 209.0 65.6
1984 666.5 298.4 56.9 239.4 71.8
1985 734.1 334.5 61.3 265.2 73.1
1986 769.2 349.0 63.1 283.9 73.2
1987 854.4 392.6 83.9 303.3 74.6
1988 909.3 401.2 94.5 334.3 79.3
1989 991.2 445.7 103.3 359.4 82.8
1990 1,032.0 466.9 93.5 380.0 91.5
1991 1,055.0 467.8 98.1 396.0 93.1
1992 1,091.3 476.0 100.3 413.7 101.4
1993 1,154.4 509.7 117.5 428.3 98.9
1994 1.258.6 543.1 140.4 461.5 113.7
1995 1,351.8 590.2 157.0 484.5 120.1
1996 1,453.1 656.4 171.8 509.4 115.4
1997 1,579.3 737.5 182.3 539.4 120.2
1998 1,721.8 828.6 188.7 571.8 132.7
1999 (estimates) 1,806.3 868.9 182.2 608.8 146.4
Cumulative total,
 first 7 months:(1)
 Fiscal year 1998 1,025.9 512.3 103.3 332.4 77.9
 Fiscal year 1999 1,080.2 545.5 94.1 351.8 88.8

 On-budget and off-budget outlays
 National defense
 Inter-
 nation-
 Depart- al
 Fiscal year or Total ment of affairs
 period Total Defense, Health
 military

1982 745.8 185.3 180.7 12.3 27.4
1983 808.4 209.9 204.4 11.8 28.6
1984 851.9 227.4 220.9 15.9 30.4
1985 946.4 252.7 245.2 16.2 33.5
1986 990.5 273.4 265.5 14.2 35.9
1987 1,004.1 282.0 274.0 11.6 40.0
1988 1,064.5 290.4 281.9 10.5 44.5
1989 1,143.7 303.6 294.9 9.6 48.4
1990 1,253.2 299.3 289.8 13.8 57.7
1991 1,324.4 273.3 262.4 15.9 71.2
1992 1,381.7 298.4 286.9 16.1 89.5
1993 1,409.4 291.1 278.6 17.2 99.4
1994 1,461.7 281.6 268.6 17.1 107.1
1995 1,515.7 272.1 259.4 16.4 115.4
1996 1,560.5 265.7 253.2 13.5 119.4
1997 1,601.2 270.5 258.3 15.2 123.8
1998 1,652.6 268.5 256.1 13.1 131.4
1999 (estimates) 1,727.1 276.7 263.6 15.5 143.1
Cumulative total,
 first 7 months:(1)
 Fiscal year 1998 971.1 155.8 147.3 9.7 76.0
 Fiscal year 1999 1,015.5 162.2 153.0 11.1 81.2

 On-budget and off-budget outlays
 Net
 Fiscal year or Medi- Income Social inter- Other
 period care security security est

1982 46.6 107.7 156.0 85.0 125.4
1983 52.6 122.6 170.7 89.8 122.2
1984 57.5 112.7 178.2 111.1 118.6
1985 65.8 128.2 188.6 129.5 131.8
1986 70.2 119.8 198.8 136.0 142.2
1987 75.1 123.3 207.4 138.7 126.1
1988 78.9 129.4 219.3 151.8 139.7
1989 85.0 136.1 232.5 169.3 159.3
1990 98.1 147.1 248.6 184.2 204.3
1991 104.5 170.3 269.0 194.5 225.7
1992 119.0 197.0 287.6 199.4 174.7
1993 130.6 207.3 304.6 198.8 160.4
1994 144.7 214.1 319.6 203.0 174.5
1995 159.9 220.5 335.8 232.2 163.4
1996 174.2 226.0 349.7 241.1 170.9
1997 190.0 230.9 365.3 244.0 161.5
1998 192.8 233.2 379.2 243.4 190.9
1999 (estimates) 205.0 243.1 392.6 227.2 223.8
Cumulative total,
 first 7 months:(1)
 Fiscal year 1998 113.4 146.9 217.4 145.0 107.1
 Fiscal year 1999 113.0 155.4 224.6 137.0 131.2


(1) Data from current issue Monthly Treasury Statement.

NOTE:--Data (except as noted) are from Budget of the United States Government, Fiscal Year 2000, issued February 1, 1999.

Sources: Department of the Treasury and Office of Management and Budget.

FEDERAL SECTOR, NATIONAL INCOME ACCOUNTS BASIS

In the first quarter of 1999, according to current estimates, Federal receipts rose $31.8 billion (annual rate); Federal current expenditures fell $13.8 billion.
[Billions of dollars; quarterly data at seasonally adjusted annual
rates]

 Federal Government receipts

 Contri-
 Cor- Indirect butions
 Personal porate business for
 tax and profits tax and social
 Total nontax tax ac- nontax insur-
 receipts cruals accruals ance

Calendar year:
1991 1,149.0 476.9 109.8 79.7 482.6
1992 1,198.5 490.8 118.6 81.9 507.1
1993 1,275.1 522.6 138.3 86.9 527.3
1994 1,374.8 562.3 156.7 98.7 557.1
1995 1,460.3 606.1 179.3 92.5 582.4
1996 1,584.7 687.0 193.0 94.5 610.2
1997 1,719.9 769.1 210.0 93.8 647.0
1998 1,844.2 858.0 204.9 95.9 685.4
1995: III 1,469.1 608.2 186.2 89.2 585.5
 IV 1,486.8 623.9 182.1 90.3 590.5
1996: I 1,529.9 652.6 191.2 89.9 596.2
 II 1,581.7 691.4 195.2 88.5 606.7
 III 1,593.7 693.8 194.3 90.5 615.0
 IV 1,633.5 710.0 191.4 109.2 622.9
1997: I 1,671.1 741.7 203.9 90.7 634.8
 II 1,703.6 759.1 206.5 95.5 642.4
 III 1,739.6 776.9 217.0 95.1 650.6
 IV 1,765.5 798.6 212.8 93.8 660.3
1998: I 1,809.1 836.5 204.8 93.9 673.9
 II 1,838.3 855.7 206.2 95.2 681.2
 III 1,858.8 863.8 207.5 98.3 689.2
 IV 1,870.4 875.9 201.0 96.0 697.5
1999: I(r) 1,902.2 883.2 209.6 95.7 713.7

 Federal Government current expenditures

 Grants-
 Con- in-aid
 sump- Trans- to Net
 tion fer Senate interest
 expen- pay- and paid
 Total di- ments local
 tures govern-
 ments

Calendar year:
1991 1,345.0 445.9 522.2 153.4 192.7
1992 1,479.4 451.0 625.1 172.2 195.8
1993 1,525.7 447.3 659.9 185.8 192.7
1994 1,561.4 443.2 683.0 199.2 200.0
1995 1,634.7 442.8 720.3 212.0 224.8
1996 1,695.0 450.9 764.2 218.9 228.4
1997 1,741.0 460.4 791.9 225.0 231.2
1998 1,771.4 461.0 816.6 231.1 226.1
1995: III 1,646.0 447.2 724.8 211.0 227.8
 IV 1,639.8 436.5 731.5 208.1 228.7
1996: I 1,680.0 445.7 757.8 214.3 227.7
 II 1,694.4 453.1 757.9 223.8 226.1
 III 1,693.8 452.9 762.5 219.0 228.6
 IV 1,711.9 451.8 778.6 218.4 231.1
1997: I 1,722.3 456.8 783.4 220.7 229.4
 II 1,738.4 464.8 787.1 223.2 231.6
 III 1,739.9 460.0 791.2 224.4 231.9
 IV 1,763.4 460.1 805.9 231.8 231.8
1998: I 1,750.3 450.9 808.5 228.7 228.8
 II 1,763.9 464.0 811.1 226.9 228.3
 III 1,766.7 458.7 817.0 231.4 225.7
 IV 1,804.6 470.6 829.8 237.4 221.4
1999: I(r) 1,790.8 472.0 829.5 241.1 213.9

 Current
 Subsi- surplus
 dies less Less of
 current Wage: deficit
 surplus accru- (-),
 of als less national
 Govern- dis- income
 ment burse- and
 enter- ments product
 prises accounts

Calendar year:
1991 30.8 -0.1 -196.0
1992 35.1 .0 -280.9
1993 40.1 .0 -250.7
1994 35.9 .0 -186.7
1995 34.8 .0 -174.4
1996 32.7 .0 -110.3
1997 32.5 .0 -21.1
1998 36.6 .0 72.8
1995: III 35.2 .0 -176.9
 IV 35.1 .0 -153.0
1996: I 34.4 .0 -150.1
 II 33.5 .0 -112.6
 III 30.8 .0 -100.1
 IV 32.0 .0 -78.3
1997: I 32.0 .0 -51.2
 II 31.6 .0 -34.8
 III 32.5 .0 -.3
 IV 33.7 .0 2.2
1998: I 33.4 .0 58.8
 II 33.5 .0 74.4
 III 34.0 .0 92.0
 IV 45.4 .0 65.8
1999: I(r) 34.4 .0 111.4


Source: Department of Commerce, Bureau of Economic Analysis.3
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Publication:Economic Indicators
Article Type:Illustration
Geographic Code:1USA
Date:May 1, 1999
Words:2432
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