[Budget Supplement]
[Summary Tables]
[From the U.S. Government Printing Office, www.gpo.gov]
Table S-1. OUTLAYS, RECEIPTS, AND DEFICIT SUMMARY
(In billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimate
1995 ----------------------------------------------------------------------------
Actual 1996 1997 1998 1999 2000 2001 2002
--------------------------------------------------------------------------------------------------------------------------------------------------------
Outlays:
Discretionary:
National defense............................................ 273.5 266.3 259.4 255.5 257.1 263.5 266.6 276.1
International............................................... 20.1 20.1 19.8 19.1 18.5 17.9 17.9 18.5
Domestic.................................................... 252.0 254.8 263.0 264.5 260.1 255.4 263.7 278.2
---------------------------------------------------------------------------------------
Subtotal, discretionary................................... 545.7 541.2 542.3 539.1 535.7 536.8 548.2 572.9
---------------------------------------------------------------------------------------
Mandatory:
Programmatic:
Social security........................................... 333.3 348.1 364.8 383.3 401.7 421.3 441.9 463.5
Medicare.................................................. 156.9 174.9- 187.4 202.2 215.6 228.3- 245.5 264.1
Medicaid.................................................. 89.1 94.9- 105.6 111.3 116.5 122.3- 128.6 133.2
Means-tested entitlements (except Medicaid)............... 92.5 96.8 103.9 108.8 113.7 121.4 121.2 129.3
Deposit insurance......................................... -17.9 -13.5 -4.3 -2.0 -0.5 -2.2 -1.6 -1.8
Other..................................................... 131.9 131.2 138.1 139.5 142.9 148.9 148.6 152.5
---------------------------------------------------------------------------------------
Subtotal, programmatic.................................. 785.8 832.4 895.5 943.1 990.0 1,040.2 1,084.2 1,140.9
---------------------------------------------------------------------------------------
Undistributed offsetting receipts........................... -44.5 -42.3 -41.0 -42.4 -43.4 -45.5 -47.9 -68.7
---------------------------------------------------------------------------------------
Subtotal, mandatory....................................... 741.3 790.2 854.5 900.7 946.6 994.7 1,036.3 1,072.2
---------------------------------------------------------------------------------------
Net interest.................................................. 232.2 241.1 238.5 236.1 234.6 229.9 227.0 223.2
---------------------------------------------------------------------------------------
Subtotal, mandatory and net interest........................ 973.5 1,031.2 1,093.0 1,136.8 1,181.3 1,224.5 1,263.3 1,295.5
=======================================================================================
Total outlays................................................... 1,519.1 1,572.4 1,635.3 1,675.9 1,716.9 1,761.4 1,811.5 1,868.3
=======================================================================================
Receipts........................................................ 1,355.2 1,426.8 1,495.2 1,577.9 1,652.5 1,733.8 1,819.8 1,912.2
=======================================================================================
Deficit/Surplus................................................. -163.9 -145.6 -140.1 -98.0 -64.4 -27.5 8.3 43.9
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 142]]
Table S-2. ON- AND OFF-BUDGET TOTALS (1995-2006)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimate
1995 -------------------------------------------------------------------------------------------------------------
Actual 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
--------------------------------------------------------------------------------------------------------------------------------------------------------
In billions of dollars
--------------------------------------------------------------------------------------------------------------------------------------------------------
Outlays......................... 1,519.1 1,572.4 1,635.3 1,675.9 1,716.9 1,761.4 1,811.5 1,868.3 1,970.7 2,050.5 2,141.7 2,229.1
Receipts........................ 1,355.2 1,426.8 1,495.2 1,577.9 1,652.5 1,733.8 1,819.8 1,912.2 2,010.5 2,109.5 2,221.4 2,326.8
-----------------------------------------------------------------------------------------------------------------------
Deficit/Surplus................. -163.9 -145.6 -140.1 -98.0 -64.4 -27.5 8.3 43.9 39.8 59.0 79.7 97.7
On-budget..................... (-226.3) (-211.0) (-210.4) (-175.3) (-150.2) (-119.7) (-90.6) (-62.2) (-73.2) (-60.1) (-52.2) (-38.2)
Off-budget.................... (62.4) (65.3) (70.3) (77.3) (85.8) (92.1) (98.9) (106.1) (113.1) (119.2) (131.9) (135.9)
--------------------------------------------------------------------------------------------------------------------------------------------------------
As percentages of GDP
--------------------------------------------------------------------------------------------------------------------------------------------------------
Outlays......................... 21.2 20.9 20.7 20.2 19.6 19.2 18.8 18.4 18.5 18.3 18.2 18.0
Receipts........................ 18.9 19.0 18.9 19.0 18.9 18.9 18.9 18.9 18.9 18.8 18.9 18.8
-----------------------------------------------------------------------------------------------------------------------
Deficit/Surplus................. -2.3 -1.9 -1.8 -1.2 -0.7 -0.3 0.1 0.4 0.4 0.5 0.7 0.8
On-budget..................... (-3.2) (-2.8) (-2.7) (-2.1) (-1.7) (-1.3) (-0.9) (-0.6) (-0.7) (-0.5) (-0.4) (-0.3)
Off-budget.................... (0.9) (0.9) (0.9) (0.9) (1.0) (1.0) (1.0) (1.0) (1.1) (1.1) (1.1) (1.1)
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 143]]
Table S-3. SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (-): 1789-2002
(In millions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total On-Budget Off-Budget
--------------------------------------------------------------------------------------------------------
Year Surplus or Surplus or Surplus or
Receipts Outlays Deficit(-) Receipts Outlays Deficit(-) Receipts Outlays Deficit(-)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1789-1849...................................... 1,160 1,090 70 1,160 1,090 70 ......... ......... ...........
1850-1900...................................... 14,462 15,453 -991 14,462 15,453 -991 ......... ......... ...........
1901........................................... 588 525 63 588 525 63 ......... ......... ...........
1902........................................... 562 485 77 562 485 77 ......... ......... ...........
1903........................................... 562 517 45 562 517 45 ......... ......... ...........
1904........................................... 541 584 -43 541 584 -43 ......... ......... ...........
1905........................................... 544 567 -23 544 567 -23 ......... ......... ...........
1906........................................... 595 570 25 595 570 25 ......... ......... ...........
1907........................................... 666 579 87 666 579 87 ......... ......... ...........
1908........................................... 602 659 -57 602 659 -57 ......... ......... ...........
1909........................................... 604 694 -89 604 694 -89 ......... ......... ...........
1910........................................... 676 694 -18 676 694 -18 ......... ......... ...........
1911........................................... 702 691 11 702 691 11 ......... ......... ...........
1912........................................... 693 690 3 693 690 3 ......... ......... ...........
1913........................................... 714 715 -* 714 715 -* ......... ......... ...........
1914........................................... 725 726 -* 725 726 -* ......... ......... ...........
1915........................................... 683 746 -63 683 746 -63 ......... ......... ...........
1916........................................... 761 713 48 761 713 48 ......... ......... ...........
1917........................................... 1,101 1,954 -853 1,101 1,954 -853 ......... ......... ...........
1918........................................... 3,645 12,677 -9,032 3,645 12,677 -9,032 ......... ......... ...........
1919........................................... 5,130 18,493 -13,363 5,130 18,493 -13,363 ......... ......... ...........
1920........................................... 6,649 6,358 291 6,649 6,358 291 ......... ......... ...........
1921........................................... 5,571 5,062 509 5,571 5,062 509 ......... ......... ...........
1922........................................... 4,026 3,289 736 4,026 3,289 736 ......... ......... ...........
1923........................................... 3,853 3,140 713 3,853 3,140 713 ......... ......... ...........
1924........................................... 3,871 2,908 963 3,871 2,908 963 ......... ......... ...........
1925........................................... 3,641 2,924 717 3,641 2,924 717 ......... ......... ...........
1926........................................... 3,795 2,930 865 3,795 2,930 865 ......... ......... ...........
1927........................................... 4,013 2,857 1,155 4,013 2,857 1,155 ......... ......... ...........
1928........................................... 3,900 2,961 939 3,900 2,961 939 ......... ......... ...........
1929........................................... 3,862 3,127 734 3,862 3,127 734 ......... ......... ...........
1930........................................... 4,058 3,320 738 4,058 3,320 738 ......... ......... ...........
1931........................................... 3,116 3,577 -462 3,116 3,577 -462 ......... ......... ...........
1932........................................... 1,924 4,659 -2,735 1,924 4,659 -2,735 ......... ......... ...........
1933........................................... 1,997 4,598 -2,602 1,997 4,598 -2,602 ......... ......... ...........
1934........................................... 2,955 6,541 -3,586 2,955 6,541 -3,586 ......... ......... ...........
1935........................................... 3,609 6,412 -2,803 3,609 6,412 -2,803 ......... ......... ...........
1936........................................... 3,923 8,228 -4,304 3,923 8,228 -4,304 ......... ......... ...........
1937........................................... 5,387 7,580 -2,193 5,122 7,582 -2,460 265 -2 267
1938........................................... 6,751 6,840 -89 6,364 6,850 -486 387 -10 397
1939........................................... 6,295 9,141 -2,846 5,792 9,154 -3,362 503 -13 516
1940........................................... 6,548 9,468 -2,920 5,998 9,482 -3,484 550 -14 564
1941........................................... 8,712 13,653 -4,941 8,024 13,618 -5,594 688 35 653
1942........................................... 14,634 35,137 -20,503 13,738 35,071 -21,333 896 66 830
1943........................................... 24,001 78,555 -54,554 22,871 78,466 -55,595 1,130 89 1,041
1944........................................... 43,747 91,304 -47,557 42,455 91,190 -48,735 1,292 114 1,178
1945........................................... 45,159 92,712 -47,553 43,849 92,569 -48,720 1,310 143 1,167
1946........................................... 39,296 55,232 -15,936 38,057 55,022 -16,964 1,238 210 1,028
1947........................................... 38,514 34,496 4,018 37,055 34,193 2,861 1,459 303 1,157
1948........................................... 41,560 29,764 11,796 39,944 29,396 10,548 1,616 368 1,248
1949........................................... 39,415 38,835 580 37,724 38,408 -684 1,690 427 1,263
1950........................................... 39,443 42,562 -3,119 37,336 42,038 -4,702 2,106 524 1,583
1951........................................... 51,616 45,514 6,102 48,496 44,237 4,259 3,120 1,277 1,843
1952........................................... 66,167 67,686 -1,519 62,573 65,956 -3,383 3,594 1,730 1,864
1953........................................... 69,608 76,101 -6,493 65,511 73,771 -8,259 4,097 2,330 1,766
1954........................................... 69,701 70,855 -1,154 65,112 67,943 -2,831 4,589 2,912 1,677
--------------------------------------------------------------------------------------------------------------------------------------------------------
* $500 thousand or less.
[[Page 144]]
Table S-3. SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS(-): 1789-2002--Continued
(In millions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total On-Budget Off-Budget
--------------------------------------------------------------------------------------------------------
Year Surplus or Surplus or Surplus or
Receipts Outlays Deficit(-) Receipts Outlays Deficit(-) Receipts Outlays Deficit(-)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1955........................................... 65,451 68,444 -2,993 60,370 64,461 -4,091 5,081 3,983 1,098
1956........................................... 74,587 70,640 3,947 68,162 65,668 2,494 6,425 4,972 1,452
1957........................................... 79,990 76,578 3,412 73,201 70,562 2,639 6,789 6,016 773
1958........................................... 79,636 82,405 -2,769 71,587 74,902 -3,315 8,049 7,503 546
1959........................................... 79,249 92,098 -12,849 70,953 83,102 -12,149 8,296 8,996 -700
1960........................................... 92,492 92,191 301 81,851 81,341 510 10,641 10,850 -209
1961........................................... 94,388 97,723 -3,335 82,279 86,046 -3,766 12,109 11,677 431
1962........................................... 99,676 106,821 -7,146 87,405 93,286 -5,881 12,271 13,535 -1,265
1963........................................... 106,560 111,316 -4,756 92,385 96,352 -3,966 14,175 14,964 -789
1964........................................... 112,613 118,528 -5,915 96,248 102,794 -6,546 16,366 15,734 632
1965........................................... 116,817 118,228 -1,411 100,094 101,699 -1,605 16,723 16,529 194
1966........................................... 130,835 134,532 -3,698 111,749 114,817 -3,068 19,085 19,715 -630
1967........................................... 148,822 157,464 -8,643 124,420 137,040 -12,620 24,401 20,424 3,978
1968........................................... 152,973 178,134 -25,161 128,056 155,798 -27,742 24,917 22,336 2,581
1969........................................... 186,882 183,640 3,242 157,928 158,436 -507 28,953 25,204 3,749
1970........................................... 192,807 195,649 -2,842 159,348 168,042 -8,694 33,459 27,607 5,852
1971........................................... 187,139 210,172 -23,033 151,294 177,346 -26,052 35,845 32,826 3,019
1972........................................... 207,309 230,681 -23,373 167,402 193,824 -26,423 39,907 36,857 3,050
1973........................................... 230,799 245,707 -14,908 184,715 200,118 -15,403 46,084 45,589 495
1974........................................... 263,224 269,359 -6,135 209,299 217,270 -7,971 53,925 52,089 1,836
1975........................................... 279,090 332,332 -53,242 216,633 271,892 -55,260 62,458 60,440 2,018
1976........................................... 298,060 371,792 -73,732 231,671 302,183 -70,512 66,389 69,609 -3,220
TQ............................................. 81,232 95,975 -14,744 63,216 76,555 -13,339 18,016 19,421 -1,405
1977........................................... 355,559 409,218 -53,659 278,741 328,502 -49,760 76,817 80,716 -3,899
1978........................................... 399,561 458,746 -59,186 314,169 369,089 -54,920 85,391 89,657 -4,266
1979........................................... 463,302 504,032 -40,729 365,309 404,054 -38,745 97,994 99,978 -1,984
1980........................................... 517,112 590,947 -73,835 403,903 476,618 -72,715 113,209 114,329 -1,120
1981........................................... 599,272 678,249 -78,976 469,097 543,053 -73,956 130,176 135,196 -5,020
1982........................................... 617,766 745,755 -127,989 474,299 594,351 -120,052 143,467 151,404 -7,937
1983........................................... 600,562 808,380 -207,818 453,242 661,272 -208,030 147,320 147,108 212
1984........................................... 666,457 851,846 -185,388 500,382 686,032 -185,650 166,075 165,813 262
1985........................................... 734,057 946,391 -212,334 547,886 769,584 -221,698 186,171 176,807 9,363
1986........................................... 769,091 990,336 -221,245 568,862 806,838 -237,976 200,228 183,498 16,731
1987........................................... 854,143 1,003,911 -149,769 640,741 810,079 -169,339 213,402 193,832 19,570
1988........................................... 908,954 1,064,140 -155,187 667,463 861,449 -193,986 241,491 202,691 38,800
1989........................................... 990,691 1,143,172 -152,481 727,026 932,261 -205,235 263,666 210,911 52,754
1990........................................... 1,031,321 1,252,515 -221,194 749,666 1,027,450 -277,784 281,656 225,065 56,590
1991........................................... 1,054,272 1,323,631 -269,359 760,388 1,081,944 -321,557 293,885 241,687 52,198
1992........................................... 1,090,453 1,380,856 -290,403 788,027 1,128,518 -340,490 302,426 252,339 50,087
1993........................................... 1,153,535 1,408,675 -255,140 841,601 1,142,088 -300,487 311,934 266,587 45,347
1994........................................... 1,257,737 1,460,841 -203,104 922,711 1,181,469 -258,758 335,026 279,372 55,654
1995........................................... 1,355,213 1,519,133 -163,920 1,004,134 1,230,469 -226,335 351,079 288,664 62,415
1996 estimate.................................. 1,426,775 1,572,411 -145,636 1,059,334 1,270,292 -210,958 367,441 302,119 65,322
1997 estimate.................................. 1,495,238 1,635,329 -140,091 1,107,223 1,317,655 -210,432 388,015 317,674 70,341
1998 estimate.................................. 1,577,925 1,675,877 -97,952 1,171,627 1,346,891 -175,264 406,298 328,986 77,312
1999 estimate.................................. 1,652,546 1,716,949 -64,403 1,224,759 1,374,955 -150,196 427,787 341,994 85,793
2000 estimate.................................. 1,733,818 1,761,367 -27,549 1,283,860 1,403,537 -119,677 449,958 357,830 92,128
2001 estimate.................................. 1,819,796 1,811,531 8,265 1,348,591 1,439,213 -90,622 471,205 372,318 98,887
2002 estimate.................................. 1,912,218 1,868,316 43,902 1,417,595 1,479,809 -62,214 494,623 388,507 106,116
--------------------------------------------------------------------------------------------------------------------------------------------------------
========================================================================
========================================================================
[[Page 147]]
1997 BUDGET PROPOSALS
Table S-4. SUMMARY OF BUDGET PROPOSALS
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate Total
---------------------------------------------------------------------- 1996-
1996 1997 1998 1999 2000 2001 2002 2002
----------------------------------------------------------------------------------------------------------------
Current services baseline
deficit....................... 153.6 149.8 144.4 144.4 139.8 130.8 131.0 993.7
Switch to discretionary caps. 7.8 -0.2 -17.6 -13.7 -12.9 -13.1 -10.8 -60.4
Extend expired trust fund
excise taxes................ -0.5 -5.5 -5.7 -6.0 -6.3 -6.7 -7.0 -37.7
Related debt service......... 0.2 0.2 -0.5 -1.5 -2.3 -3.2 -4.2 -11.2
--------------------------------------------------------------------------------
Revised baseline deficit....... 161.2 144.4 120.6 123.3 118.3 107.8 109.0 884.4
Savings:
Discretionary\1\............. -7.5 -7.1 -9.9 -28.9 -43.6 -48.4 -40.4 -185.7
Mandatory:
Medicare\2\................ 0.3 -5.8 -10.0 -16.1 -24.7 -30.6 -36.9 -123.8
Medicaid\3\................ ........ 3.3 -0.6 -5.6 -11.3 -17.6 -27.0 -58.7
Welfare reform\4\.......... -0.3 -4.9 -6.5 -6.3 -7.0 -7.1 -8.6 -40.8
Earned Income Tax Credit
(EITC)\5\................. -* -0.9 -1.0 -1.0 -1.0 -1.0 -0.9 -5.8
Other mandatory............ -9.2 0.1 0.6 -5.4 -7.0 -11.0 -31.1 -62.9
--------------------------------------------------------------------------------
Total, mandatory......... -9.2 -8.1 -17.5 -34.4 -51.0 -67.3 -104.6 -292.2
Tax cuts..................... 1.3 17.6 14.1 17.5 21.4 22.4 23.2 117.4
Corporate loopholes and other 0.3 -5.6 -7.3 -9.3 -10.0 -10.3 -12.1 -54.3
--------------------------------------------------------------------------------
Total, policy proposals...... -15.2 -3.2 -20.7 -55.0 -83.1 -103.7 -133.8 -414.7
Debt service................. -0.4 -1.1 -2.0 -3.8 -7.6 -12.4 -19.0 -46.3
--------------------------------------------------------------------------------
Total savings.................. -15.5 -4.3 -22.7 -58.9 -90.7 -116.0 -152.9 -461.0
Deficit/surplus................ 145.6 140.1 98.0 64.4 27.5 -8.3 -43.9 423.5
----------------------------------------------------------------------------------------------------------------
*$50 million or less.
\1\The President is committed to producing a balanced budget by 2002 under the economic and technical
assumptions of the Congressional Budget Office (CBO). If under CBO's revised economic and technical
assumptions, which will be released later this spring, there would be a deficit in 2002, the discretionary
proposals will be reduced by the amount necessary to eliminate that deficit.
\2\Effects of Medicare savings proposals on HI premium receipts are included in ``other mandatory.''
\3\Interactions with Medicare and VA health proposals are included in ``other mandatory.''
\4\Includes savings to cover discretionary cap increases that fund administrative costs of implementing welfare
reform provisions.
\5\Includes EITC revenues.
[[Page 148]]
Table S-5. APPLICATION OF THE ``FISCAL DIVIDEND'' TO BUDGET PROPOSALS
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate
---------------------------------------------------------------------
1996 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Deficit or surplus assuming tax cuts expire on December 31, 2000:
CBO December economic and technical
assumptions............................ -158.0 -164.2 -150.0 -126.2 -108.7 -62.1 7.6
OMB March economic and technical
assumptions............................ -145.6 -140.1 -98.0 -64.4 -27.5 39.5 115.2
---------------------------------------------------------------------
Difference............................ 12.4 24.1 52.0 61.8 81.1 101.5 107.6
Trigger impact on OMB estimates:
Step 1--Continue tax cut................ (20.0) 8.9 22.7
Step 2--Increase discretionary spending. (20.0) 12.9 27.1
Step 3:
Further discretionary increases.......
(3)Not applicable (13.7) 8.8 18.6
Reserved for additional tax cuts...... (13.7)
Reserved for deficit reduction........ (13.7)
Debt service............................ 0.7 2.9
-----------------------------
Total trigger............................. (81.1) 31.2 71.3
OMB deficit or surplus.................... -145.6 -140.1 -98.0 -64.4 -27.5 8.3 43.9
----------------------------------------------------------------------------------------------------------------
Note: The President is committed to producing a balanced budget by 2002 under the economic and technical
assumptions of the Congressional Budget Office (CBO). If under CBO's revised economic and technical
assumptions, which will be released later this spring, there would be a deficit in 2002, the discretionary
proposals will be reduced by the amount necessary to eliminate that deficit.
[[Page 149]]
Table S-6. PROPOSED DISCRETIONARY SPENDING RELATIVE TO THE CAPPED BASELINE
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate Total
---------------------------------------------------------------- 1996-
1996 1997 1998 1999 2000 2001 2002 2002
----------------------------------------------------------------------------------------------------------------
Preview Report capped baseline BA 523.0 530.3 534.4 549.3 564.7 580.5 596.8 3,878.9
OL 548.0 548.7 548.5 563.8 579.6 595.9 612.6 3,997.1
Proposed Levels:
Discretionary proposals
other than the Department
of Defense................. BA 247.3 258.4 258.1 256.1 253.7 275.7 292.6 1,841.9
OL 286.0 294.0 294.3 288.4 282.2 290.9 307.2 2,043.2
Department of Defense...... BA 252.6 243.4 248.9 255.0 262.4 270.3 277.3 1,809.9
OL 255.2 248.3 244.7 247.3 254.6 257.3 265.6 1,773.0
-------------------------------------------------------------------------
Total discretionary BA 499.8 501.8 507.0 511.1 516.1 546.1 570.0 3,651.8
proposals\1\.
OL 541.2 542.3 539.1 535.7 536.8 548.2 572.9 3,816.2
Discretionary savings from
capped baseline\2\........... BA -23.1 -28.5 -27.3 -38.3 -48.6 -34.4 -26.8 -227.1
OL -6.9 -6.4 -9.4 -28.2 -42.8 -47.6 -39.7 -180.9
----------------------------------------------------------------------------------------------------------------
\1\The budget proposes to extend the discretionary spending limits from 1999 through 2002 consistent with the
level of discretionary spending assumed in the budget that achieves balance in 2002.
\2\The total discretionary outlay savings for 1996-2002 are $180.9 billion. The table below explains why these
savings differ from the 1996-2002 savings of $185.7 billion listed in Table S-4, as well as the $297.2 billion
savings listed in Table S-11 that uses CBO's baseline.
Adjustment
to CBO Adjustment
Capped to OMB
December Capped March
Baseline Baseline
Outlays Outlays
Discretionary savings, excluding fiscal dividend and other adjustments, 1996-2002... -297.2 -253.1
Additional discretionary spending from the fiscal dividend....................... NA 67.4
---------------------------
Discretionary savings, including fiscal dividend, 1996-2002....................... -297.2 -185.7
Other Adjustments:
Welfare Reform: Funding to increase continuing disability reviews and implement
the Administration's welfare reform proposal..................................... 3.9 3.9
Emergencies...................................................................... 0.8 0.8
---------------------------
Total discretionary savings, 1996-2002.......................................... -292.4 -180.9
[[Page 150]]
Table S-7. ESTIMATES OF MANDATORY BUDGET PROPOSALS BY PROGRAM
(In millions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate
Mandatory Proposals --------------------------------------------------------------------- Total
1996 1997 1998 1999 2000 2001 2002 1996-2002
----------------------------------------------------------------------------------------------------------------
Medicare savings................ 306 -5,800 -9,969 -16,115 -24,666 -30,645 -36,946 -123,835
Impact of Medicare proposals on
premiums for otherwise
uninsured (HI)................. ....... 123 178 226 286 332 380 1,525
Medicaid savings................ ....... 3,292 -646 -5,563 -11,264 -17,589 -26,961 -58,731
Effects of VA and Medicare
proposals on Medicaid.......... ....... -15 -25 336 437 598 763 2,094
Health insurance for the
temporarily unemployed......... ....... 1,519 2,158 2,345 2,550 ........ ......... 8,572
Health insurance reform: grants
for health insurance
cooperatives................... ....... 25 25 25 25 25 ......... 125
Welfare reform\1\............... -320 -4,883 -6,505 -6,346 -7,010 -7,147 -8,625 -40,836
Modify earned income tax credit
eligibility rules:
Outlays....................... -14 -596 -606 -602 -598 -580 -568 -3,564
Receipts...................... -2 -278 -419 -409 -397 -388 -380 -2,273
-------------------------------------------------------------------------------
Earned income tax credit,
subtotal....................... -16 -874 -1,025 -1,011 -995 -968 -948 -5,837
Other mandatory:
Student loans:
Reduce payments to lenders,
guaranty agencies,
secondary markets and
postsecondary institutions,
and reduce Federal
administrative funding..... -847 -568 -665 -607 -571 -582 -595 -4,435
Civilian retirement:
Extend civilian retirement
COLA delay................. ....... -278 -307 -295 -302 -310 -319 -1,811
Modify Congressional
retirement benefits........ ....... ....... -1 -1 -2 -2 -2 -8
-------------------------------------------------------------------------------
Subtotal, civilian retirement. ....... -278 -308 -296 -304 -312 -321 -1,819
Veterans:
Paygo proposals:
Compensation and Pensions:
Extend rounding down for
compensation cost-of-
living adjustment
(COLA)................. ....... -17 -37 -56 -77 -92 -118 -397
Restrict collection of
compensation for non-
malpractice injuries
(Gardner decision)..... -36 -112 -191 -272 -359 -450 -544 -1,964
Extend income
verification of pension
and medical care
beneficiaries.......... ....... ....... ........ -45 -60 -76 -92 -273
Limit pension benefits
to Medicaid eligible
beneficiaries in
nursing homes.......... ....... ....... ........ -553 -567 -580 -597 -2,297
-------------------------------------------------------------------------------
Subtotal, compensation and
pensions................. -36 -129 -228 -926 -1,063 -1,198 -1,351 -4,931
Housing:
Enable VA to use
Federal salary and tax
refund offset to
collect on deficiency
balances for defaulted
loans guaranteed prior
to 1990................ -90 ....... ........ ........ ........ ........ ......... -90
Extend three provisions
that maintain higher
loan fees and reduce
resale losses on
foreclosed properties.. ....... ....... ........ -189 -183 -187 -189 -748
Extend medical care
copayments, per diems,
and third party insurance
recoveries............... ....... ....... ........ -282 -288 -292 -306 -1,168
Restrict vocational
rehabilitation benefits
to only those veterans
who have service-
connected disabilities
that are substantially
linked to their
employment handicaps
(Davenport decision)..... ....... -20 -39 -56 -56 -57 -57 -285
-------------------------------------------------------------------------------
Subtotal, paygo proposals... -126 -149 -267 -1,453 -1,590 -1,734 -1,903 -7,222
Non-paygo proposals:
Retain portion of excess
medical insurance
collections.............. -11 -46 -36 -36 -36 -36 -37 -238
-------------------------------------------------------------------------------
Subtotal, veterans proposals.. -137 -195 -303 -1,489 -1,626 -1,770 -1,940 -7,460
Auction spectrum.............. -150 -1,800 -2,650 -3,550 -3,100 -2,650 -18,400 -32,300
[[Page 151]]
Auction ``888'' phone numbers. ....... -200 -300 -200 ........ ........ ......... -700
New/extend user fees:
Extend vessel tonnage fees.. ....... ....... ........ -62 -62 -62 -62 -248
Extend hardrock mining fees. ....... -1 -2 -34 -36 -37 -38 -148
Impose Hetch Hetchy Dam
rental payments............ ....... -1 -1 -1 -1 -1 -1 -6
Extend Deepwater royalty
relief..................... ....... ....... ........ ........ ........ -20 -20 -40
Extend surcharge on patent
fees....................... ....... ....... ........ -119 -119 -119 -119 -476
Extend Nuclear Regulatory
Commission fees............ ....... ....... ........ -310 -310 -310 -310 -1,240
Authorize FEMA fees......... ....... -12 -12 -12 -12 -12 -12 -72
Collect fisheries management
fees....................... ....... -3 ........ ........ ........ ........ ......... -3
Expand authority for
National Park Service
fees\2\.................... ....... -13 -8 -13 -10 -14 -9 -67
Extend rail safety fees..... -22 -47 -49 -51 -53 -55 -57 -334
Extend pesticide re-
registration fee........... ....... -1 -1 ........ 1 1 ......... .........
Restore the Everglades
(sugar assessment-net)..... ....... -18 -4 ........ ........ ........ ......... -22
Agriculture marketing order
fees....................... ....... -10 -11 -11 -11 -11 -11 -65
Spending from SEC fees
(included under revenues).. ....... 224 266 277 288 299 311 1,665
-------------------------------------------------------------------------------
Subtotal, new/extend user fees -22 118 178 -336 -325 -341 -328 -1,056
Housing/banking reform:
FHA portfolio reengineering. -1,386 ....... ........ ........ ........ ........ ......... -1,386
Alter FHA single-family
assignment and portfolio
reengineering:
Non-paygo.............. -303 791 307 117 -995 -1,170 -1,068 -2,321
Limit Section 8 annual rent
increases.................. -60 -236 -342 -388 -408 -411 -419 -2,264
Savings Association
Insurance Fund (SAIF)/Bank
Insurance Fund (BIF):\3\
Paygo.................... 592 ....... ........ ........ ........ ........ ......... 592
Non-paygo................ -4,974 469 -187 -219 -29 -65 -95 -5,100
-------------------------------------------------------------------------------
Subtotal, SAIF/BIF.......... -4,382 469 -187 -219 -29 -65 -95 -4,508
Reimburse the Federal
reserve bank............... ....... 122 122 122 122 122 122 732
-------------------------------------------------------------------------------
Subtotal, housing/banking
reforms...................... -6,131 1,146 -100 -368 -1,310 -1,524 -1,460 -9,747
Strategic Petroleum and Naval
Petroleum Reserve:
Lease excess Strategic
Petroleum Reserve.......... ....... ....... -20 -40 -80 -100 -120 -360
Sell Weeks Island Strategic
Petroleum Reserve.......... ....... ....... ........ ........ ........ ........ -1,534 -1,534
Naval Petroleum Reserve..... ....... ....... 2,215 -370 -340 -310 -1,980 -785
-------------------------------------------------------------------------------
Subtotal, Strategic Petroleum
and Naval Petroleum Reserve.. ....... ....... 2,195 -410 -420 -410 -3,634 -2,679
Sell/privatize government
assets
Privatize the College
Construction Loan Insurance
Association through the
sale of Federally owned
stock (Non-paygo).......... ....... -7 ........ ........ ........ ........ ......... -7
Sale of Governor's Island... ....... ....... ........ ........ ........ ........ -500 -500
Privatize US Enrichment
Corporation................ -1,561 204 207 124 -102 -119 -319 -1,566
Sales from National Defense
Stockpile.................. -21 -79 -79 -79 -80 -155 -156 -649
Terminate helium refinery
and sell helium stockpile.. ....... -3 -8 -10 -10 -10 -9 -50
Sale of Union Station air
rights..................... ....... ....... ........ ........ ........ ........ -40 -40
-------------------------------------------------------------------------------
Subtotal, sell/privatize
government assets............ -1,582 115 120 35 -192 -284 -1,024 -2,812
Debt management/collection and
other specified proposal:
Repeal the mandatory
appropriation under the
Smith-Hughes Act of 1918... ....... -1 -6 -7 -7 -7 -7 -35
[[Page 152]]
Debt management savings:
Non-paygo................. ....... ....... -244 -851 -1,523 -2,224 -2,130 -6,972
Strengthen debt collection:
Non-paygo................. -327 -76 -65 -56 -56 -65 -36 -681
Refinance Bonneville Power
Administration............. ....... -14 -14 -13 -12 -11 -25 -89
Prepayments (construction
charges, Central Utah)..... ....... -75 -145 2 2 -37 2 -251
New funding for medical,
cash, and job training
assistance for Puerto Rico
(in lieu of Sec 936)....... ....... 57 247 499 758 982 1,142 3,685
Repeal Workers' Compensation
Reimbursement to the United
States Postal Service:
Paygo..................... -37 -36 -34 -32 -31 -29 -28 -227
Non-paygo................. 37 36 9 ........ ........ ........ ......... 82
Increase boat safety grants. 9 26 38 51 51 51 51 277
Increase agency
contributions to CSRS (non-
paygo)..................... ....... ....... ........ -1,034 -2,077 -3,128 -3,936 -10,175
Other non-paygo proposals
(mainly pay raise)......... ....... 224 321 366 410 411 430 2,162
-------------------------------------------------------------------------------
Subtotal, debt management
collection and other
specified proposals.......... -318 141 107 -1,075 -2,485 -4,057 -4,537 -12,224
-------------------------------------------------------------------------------
Subtotal, other mandatory....... -9,187 -1,521 -1,726 -8,296 -10,333 -11,930 -32,239 -75,232
Tax cut\4\...................... 1,264 17,564 14,093 17,528 21,367 22,376 23,200 117,392
Corporate loopholes and
other:\4\
Paygo......................... 308 -5,660 -7,459 -9,413 -10,096 -10,480 -12,240 -55,040
Non-Paygo..................... ....... 98 129 131 133 135 137 763
-------------------------------------------------------------------------------
Subtotal, corporate loopholes
and other...................... 308 -5,562 -7,330 -9,282 -9,963 -10,345 -12,103 -54,277
-------------------------------------------------------------------------------
Total savings................... -7,645 3,868 -10,772 -26,153 -39,566 -55,293 -93,479 -229,040
Memorandum:
Subtotal, other mandatory
(from above)................. -9,187 -1,521 -1,726 -8,296 -10,333 -11,930 -32,239 -75,232
Impact of Medicare proposals
on premiums for otherwise
uninsured (HI)............. ....... 123 178 226 286 332 380 1,525
Effects of VA and Medicare
proposals on Medicaid...... ....... -15 -25 336 437 598 763 2,094
Health insurance for the
temporarily unemployed..... ....... 1,519 2,158 2,345 2,550 ........ ......... 8,572
Health insurance reform:
grants for health insurance
cooperatives............... ....... 25 25 25 25 25 ......... 125
-------------------------------------------------------------------------------
Total, other mandatory
including health provisions.. -9,187 131 610 -5,364 -7,035 -10,975 -31,096 -62,916
Outlays:
Mandatory paygo proposals... -3,740 -9,733 -17,699 -32,978 -47,024 -61,377 -97,992 -270,543
Mandatory non-paygo
proposals.................. -5,578 1,391 105 -1,713 -4,306 -6,277 -6,872 -23,250
Discretionary included
above\1\................... 103 486 478 701 757 718 668 3,911
-------------------------------------------------------------------------------
Total outlays................. -9,215 -7,856 -17,116 -33,990 -50,573 -66,936 -104,196 -289,882
Receipts:
Paygo....................... 1,570 11,626 6,215 7,706 10,874 11,508 10,580 60,079
Non-Paygo................... ....... 98 129 131 133 135 137 763
-------------------------------------------------------------------------------
Total receipts................ 1,570 11,724 6,344 7,837 11,007 11,643 10,717 60,842
----------------------------------------------------------------------------------------------------------------
\1\Includes savings to cover discretionary cap increases that fund administrative costs of implementing welfare
reform provisions. The discretionary amounts shown in the memorandum are included in the welfare reform
totals.
\2\Also affects Bureau of Land Management and Forest Service.
\3\Treatment of proposal for BEA scoring purposes are under review.
\4\For more detailed estimates on revenue proposals, see Table S-8.
[[Page 153]]
Table S-8. EFFECT OF PROPOSALS ON RECEIPTS
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate Total
--------------------------------------------------------------- 1996-
1996 1997 1998 1999 2000 2001 2002 2002
----------------------------------------------------------------------------------------------------------------
Provide tax relief:
Middle Class Bill of Rights:
Provide tax credit for dependent
children.......................... -1.1 -9.7 -7.0 -8.9 -10.7 -10.7 -10.6 -58.6
Expand Individual Retirement
Accounts (IRAs)................... ....... -1.4 -0.4 -0.7 -1.1 -1.6 -2.5 -7.7
Provide tax incentive for education
and training...................... -0.2 -5.8 -5.6 -6.2 -7.5 -7.8 -8.0 -41.2
------------------------------------------------------------------------
Subtotal, Middle Class Bill of
Rights.......................... -1.3 -17.0 -13.0 -15.8 -19.3 -20.0 -21.1 -107.5
Increase expensing for small business ....... -0.6 -0.5 -0.6 -0.7 -0.9 -0.8 -4.1
Provide estate tax relief for small
business............................ ....... ....... -0.2 -0.2 -0.2 -0.2 -0.2 -1.0
Simplify pension plan rules\1\....... * -* -0.1 -0.3 -0.3 -0.3 -0.3 -1.4
Provide tax incentives for distressed
areas............................... -* -* -0.3 -0.6 -0.8 -0.9 -0.8 -3.4
------------------------------------------------------------------------
Subtotal, Provide tax relief... -1.3 -17.6 -14.1 -17.5 -21.4 -22.4 -23.2 -117.4
Eliminate unwarranted benefits and
adopt other revenue measures:
Disallow interest deduction for
corporate-owned life insurance
policy loans........................ ....... 0.6 0.5 0.6 0.7 0.7 0.8 3.9
Deny interest deduction on certain
debt instruments.................... ....... 0.1 0.1 0.2 0.2 0.3 0.4 1.3
Defer original issue discount
deduction on convertible debt....... ....... * * * * * 0.1 0.2
Limit dividends-received deduction
(DRD):
Reduce DRD to 50 percent........... ....... 0.2 0.4 0.4 0.4 0.4 0.4 2.0
Modify holding period for DRD...... ....... * * * * * * 0.2
Interaction........................ ....... -* -* -* -* -* -* -*
Extend pro rata disallowance of tax-
exempt interest expense to all
corporations........................ ....... * 0.1 0.1 0.1 0.1 0.1 0.5
Require average-cost basis for
stocks, securities, etc............. ....... 0.6 0.7 0.6 0.7 0.7 0.7 4.1
Require recognition of gain on
certain stocks, indebtedness and
partnership interests............... ....... 0.2 -* 0.1 0.1 0.1 0.1 0.4
Change the treatment of gains and
losses on extinguishment............ ....... * * * * * * *
Require reasonable payment
assumptions for interest accruals on
certain debt instruments............ ....... 0.1 0.2 0.3 0.3 0.2 0.1 1.1
Require gain recognition for certain
extraordinary dividends............. ....... -0.1 0.1 0.1 0.1 0.1 0.1 0.3
Repeal percentage depletion for non-
fuel minerals mined on Federal and
formerly Federal lands.............. ....... 0.1 0.1 0.1 0.1 0.1 0.1 0.5
Modify loss carryback and
carryforward rules.................. -* * 0.7 0.8 0.7 0.6 0.6 3.4
Treat certain preferred stock as
``boot''............................ ....... 0.2 0.2 0.2 0.2 0.1 * 0.9
Repeal tax-free conversions of large
C corporations to S corporations.... ....... * * * * * 0.1 0.2
Require gain recognition in certain
distributions of controlled
corporation stock................... ....... 0.1 0.1 0.1 0.1 0.1 0.1 0.5
Reform treatment of certain stock
transfers........................... ....... 0.1 0.1 0.1 0.1 0.1 0.2 0.8
Reformulate Puerto Rico and
possessions tax credit.............. ....... 0.1 0.2 0.5 0.8 1.0 1.1 3.7
Expand Subpart F provisions regarding
certain income...................... ....... * * * * * * 0.2
Modify taxation of captive
``insurance'' companies............. ....... * * * * * * 0.1
Reform foreign tax credit............ ....... 0.2 0.9 1.1 1.0 0.9 0.9 4.9
Modify rules relating to foreign oil
and gas extraction income........... ....... * * 0.1 0.1 0.1 0.1 0.4
Require thrifts to account for bad
debts in same manner as banks....... ....... 0.2 0.2 0.3 0.3 0.3 0.3 1.6
Reform depreciation under the income
forecast method..................... ....... 0.1 0.1 0.1 * * * 0.3
Phase out preferential tax deferral
for certain large farm corporations
required to use accrual accounting.. 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.8
Initiate inventory reform:
Repeal lower of cost or market
method............................ ....... 0.2 0.3 0.3 0.3 0.1 * 1.2
[[Page 154]]
Repeal components of cost method... ....... 0.2 0.2 0.2 0.2 0.2 0.2 1.1
Modify basis adjustment rules under
Section 1033........................ * * * * * * * 0.1
Expand requirement that involuntarily
converted property be replaced with
property acquired from an unrelated
party............................... ....... * * * * * * *
Place further restrictions on like-
kind exchanges involving personal
property............................ ....... * * * * * * 0.1
Disallow rollover and one-time
exclusion on sale of residence to
the extent of previously claimed
depreciation........................ ....... * * * * * * *
Require registration of certain
corporate tax shelters.............. ....... ....... * * * * * *
Require reporting of payments to
corporations rendering services to
Federal agencies.................... ....... * * * * 0.1 0.1 0.3
Increase penalties for failure to
file correct information returns.... ....... * * * * * * 0.1
Extend IRS user fees................. ....... ....... ....... ....... ....... * * 0.1
Apply failure-to-pay penalty to
substitute returns.................. * * * * * * * 0.1
Repeal exemption for withholding on
gambling winnings from bingo and
keno in excess of $5,000............ * * * * * * * *
Require tax reporting for payments to
attorneys........................... ....... ....... * * * * * *
Repeal advance refunds of diesel fuel
tax for diesel cars and light
trucks\1\........................... * * * * * * * 0.1
Extend oil spill excise tax\1\....... * 0.2 0.2 0.2 0.2 0.2 0.2 1.4
Impose excise taxes on kerosene as
diesel fuel\1\...................... ....... * * * * * * 0.2
Permanently extend luxury excise tax
on passenger vehicles\1\............ ....... ....... ....... ....... 0.2 0.3 0.3 0.7
Extend and modify FUTA provisions:
Extend FUTA surtax\1\.............. ....... ....... ....... 0.8 1.2 1.2 1.2 4.4
Accelerate deposit of unemployment
insurance taxes................... ....... ....... ....... ....... ....... ....... 1.3 1.3
------------------------------------------------------------------------
Subtotal, Eliminate unwarranted
benefits........................ 0.1 3.8 5.6 7.5 8.3 8.5 9.9 43.6
Other provisions that affect receipts:
Assess fees for examination of FDIC-
insured banks and bank holding
companies (receipt effect)\1\....... ....... 0.1 0.1 0.1 0.1 0.1 0.1 0.5
Expand fees collected under the
securities laws..................... ....... 0.3 0.3 0.3 0.3 0.4 0.4 2.0
Establish IRS continuous levy........ ....... 0.4 0.4 0.4 0.3 0.2 0.1 1.8
Extend GSP and modify other trade
provisions\1\....................... -0.6 -0.6 -0.5 -0.6 -0.6 -0.3 ....... -3.2
Increase deduction for self-employed
health insurance.................... -* -0.1 -0.1 -0.2 -0.4 -0.5 -0.5 -1.9
Increase employee contributions to
CSRS and FERS....................... 0.1 0.4 0.5 0.6 0.6 0.6 0.6 3.4
Deter expatriation tax avoidance..... * 0.2 0.2 0.4 0.4 0.5 0.5 2.3
Tighten rules for taxing foreign
trusts.............................. 0.1 0.3 0.3 0.3 0.3 0.3 0.3 2.1
Extend corporate environmental tax\2\ ....... 1.0 0.6 0.7 0.7 0.7 0.8 4.5
Improve compliance by tax-exempt
entities through intermediate
sanctions and other measures........ * * * * * * * *
Modify Federal pay raise (receipt
effect)............................. ....... -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.8
Provide tax relief to troops in
Bosnia.............................. -* -* ....... ....... ....... ....... ....... -*
------------------------------------------------------------------------
Subtotal, Other.................... -0.4 1.8 1.8 1.8 1.7 1.9 2.2 10.7
------------------------------------------------------------------------
Subtotal, Eliminate unwarranted
benefits and other provisions
that affect receipts............ -0.3 5.6 7.3 9.3 10.0 10.3 12.1 54.3
------------------------------------------------------------------------
Modify earned income tax credit (EITC). * 0.3 0.4 0.4 0.4 0.4 0.4 2.3
------------------------------------------------------------------------
Total effect of proposals\1\........... -1.6 -11.7 -6.3 -7.8 -11.0 -11.6 -10.7 -60.8
(Paygo proposals).................... (-1.6) (-11.6) (-6.2) (-7.7) (-10.9) (-11.5) (-10.6) (-60.1)
(Non-Paygo proposals)................ ....... (-0.1) (-0.1) (-0.1) (-0.1) (-0.1) (-0.1) (-0.8)
========================================================================
[[Page 155]]
Extend expired trust fund excise taxes:
Extend superfund trust fund excise
taxes\1\............................ 0.1 0.7 0.7 0.7 0.7 0.7 0.7 4.2
Extend airport and airway trust fund
taxes\1\............................ 0.4 4.7 4.9 5.2 5.5 5.9 6.2 32.8
Extend LUST trust fund taxes\1\...... * 0.1 0.1 0.1 0.1 0.1 0.1 0.8
------------------------------------------------------------------------
Total effect of extending expired
trust fund excise taxes\1\........ 0.5 5.5 5.7 6.0 6.3 6.7 7.0 37.7
----------------------------------------------------------------------------------------------------------------
*$50 million or less.
\1\Net of income offsets.
\2\Net of deductibility for income tax purposes.
[[Page 156]]
Table S-9. SUMMARY OF SUPPLEMENTAL, RESCISSION, AND ADJUSTMENT PROPOSALS
(In millions of dollars)
----------------------------------------------------------------------------------------------------------------
1996 Outlays
Budget -----------------------------------------------------------
Authority 1996 1997 1998 1999 2000 2001
----------------------------------------------------------------------------------------------------------------
Adjustments to 1996 Continuing Resolution
Executive Office of the President...... 1 1 ........ ........ ........ ........ ........
Department of Agriculture.............. 2 1 1 ........ ........ ........ ........
Department of Commerce................. 127 25 38 38 26 2 ........
Department of Education................ 2,099 289 1,294 456 56 ........ ........
Department of Energy................... 38 11 21 6 ........ ........ ........
Department of Health and Human Services 654 322 257 45 18 5 ........
Department of Housing and Urban
Development........................... 685 56 101 137 109 131 53
Department of the Interior............. 166 111 54 2 ........ ........ ........
Department of Justice.................. 3 2 ........ ........ ........ ........ ........
Department of Labor.................... 579 114 348 95 24 ........ ........
Department of State.................... 438 430 8 ........ ........ ........ ........
Department of the Treasury............. 12 2 5 5 ........ ........ ........
Department of Veterans Affairs......... 275 195 36 22 16 6 2
Environmental Protection Agency........ 966 224 210 190 144 83 43
Social Security Administration......... 251 93 158 ........ ........ ........ ........
Other Independent Agencies............. 277 183 65 15 5 2 2
----------------------------------------------------------------------
Subtotal, Adjustments to 1996
Continuing Resolution Levels........ 6,573 2,059 2,595 1,011 398 229 100
Discretionary Supplementals:
Executive Office of the President...... 3 3 ........ ........ ........ ........ ........
International Security Assistance...... 140 25 67 27 13 8 ........
Agency for International Development... 200 74 126 ........ ........ ........ ........
Department of Agriculture.............. 12 12 ........ ........ ........ ........ ........
Department of Defense--Military........ 621 492 82 30 11 1 ........
Department of Energy................... ......... 4 2 ........ ........ ........ ........
----------------------------------------------------------------------
Subtotal, Supplemental Proposals..... 976 610 277 57 24 9 ........
Total, Increases in Discretionary
Programs.............................. 7,549 2,669 2,872 1,068 422 238 100
Decreases in Discretionary Programs:
Department of Agriculture.............. -12 -1 -1 -4 -4 -2 ........
Department of Defense--Military\1\..... -1,961 -812 -617 -202 -27 -12 -5
General Services Administration........ -3 -2 -1 ........ ........ ........ ........
----------------------------------------------------------------------
Subtotal, Decreases in Discretionary
Programs............................ -1,976 -815 -619 -206 -31 -14 -5
----------------------------------------------------------------------
Total, All Proposals................. 5,573 1,854 2,253 862 391 224 95
----------------------------------------------------------------------------------------------------------------
\1\In addition to rescissions, this includes a provision that requires the Secretary of Defense to reduce 1996
budget authority by $600 million.
[[Page 157]]
Table S-10. DISCRETIONARY PROPOSALS BY APPROPRIATIONS SUBCOMMITTEE
(In millions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1995 Enacted 1996 1997 Change: 1996 to
Estimate Proposed 1997
Appropriations Subcommittee ------------------------------------------------------------------------------------------------------------------
BA Outlays BA Outlays BA Outlays BA Outlays
--------------------------------------------------------------------------------------------------------------------------------------------------------
General Purpose Discretionary
Agriculture and Rural Development.... 13,763 14,014 13,775 14,284 13,957 13,983 182 -301
Commerce, Justice, State, and the
Judiciary........................... 24,055 24,217 23,835 24,315 26,262 26,038 2,427 1,723
Defense.............................. 248,633 250,942 240,810 244,360 234,361 238,012 -6,449 -6,348
District of Columbia................. 712 714 712 712 770 770 58 58
Energy and Water Development......... 20,181 22,833 19,339 19,824 19,751 19,617 412 -207
Foreign Operations................... 13,724 13,195 12,415 13,475 12,961 13,238 546 -237
Interior and Related Agencies........ 13,668 14,439 12,571 13,301 12,790 13,436 219 135
Labor, HHS, and Education............ 67,752 68,121 66,987 70,286 71,586 72,450 4,599 2,164
Legislative.......................... 2,361 2,177 2,193 2,251 2,338 2,323 145 72
Military Construction................ 8,820 10,394 11,215 10,552 9,131 10,285 -2,084 -267
Transportation and Related Agencies.. 11,187 36,064 12,418 35,758 12,324 35,130 -94 -628
Treasury, Postal Service, and General
Government\1\....................... 11,527 12,071 11,432 11,618 12,791 12,521 1,484 984
Veterans Affairs, HUD, and
Independent Agencies\1\............. 66,153 75,784 67,228 77,766 66,350 80,628 -1,003 2,781
Allowances........................... 1 1 1 1 1,409 ........ 1,408 -1
------------------------------------------------------------------------------------------------------------------
Subtotal, General Purpose
Discretionary..................... 502,537 544,965 494,931 538,503 496,781 538,431 1,850 -72
Violent Crime Reduction Trust Fund
(VCRTF)
Commerce, Justice, State, and the
Judiciary........................... 2,328 659 3,959 2,026 4,829 3,526 870 1,500
Labor, HHS, and Education............ 11 4 45 19 61 38 16 19
Transportation and Related Agencies.. ........................... .......................... ........ ........ 10 1 10 1
Treasury, Postal Service, and General
Government.......................... 39 30 77 73 97 93 20 20
Veterans Affairs, HUD, and
Independent......................... ........................... .......................... ........ ........ 3 3 3 3
------------------------------------------------------------------------------------------------------------------
Subtotal, VCRTF.................... 2,378 694 4,081 2,118 5,000 3,661 919 1,543
==================================================================================================================
Total, Discretionary............. 504,915 545,659 499,012 540,621 501,781 542,092 2,769 1,471
--------------------------------------------------------------------------------------------------------------------------------------------------------
Memorandum: Amounts Excluded From Budget Resolution Allocations And Not Included Above
Defense.............................. ........................... .......................... 621 492 ........ 82
Foreign Operations................... ........................... .......................... 200 74 ........ 126
Total, Proposed Emergencies........ ........................... .......................... 821 566 ........ 208
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\Reflects the proposed shift of Community Development Financial Institutions from the Veterans Affairs, HUD, and Independent Agencies subcommittee to
the Treasury, Postal Service, and General Government subcommittee in 1997.
[[Page 158]]
Table S-11. BUDGET PROPOSALS UNDER CBO ASSUMPTIONS
(Uses CBO December economic and technical assumptions, in billions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate Total
---------------------------------------------------------------------- 1996-
1996 1997 1998 1999 2000 2001 2002 2002
----------------------------------------------------------------------------------------------------------------
Baseline Deficit\1\............ 173.9 181.7 180.8 192.3 200.0 204.4 221.2 1,354.4
Savings:
Discretionary................ -8.8 -10.2 -15.6 -35.7 -51.4 -78.9 -96.6 -297.2
Mandatory:
Medicare\2\................ -2.6 -5.7 -9.1 -16.6 -22.9 -27.3 -40.1 -124.2
Medicaid\3\................ ........ 0.9 -2.0 -6.5 -11.0 -16.1 -24.4 -59.1
Welfare reform\4\.......... -* -4.7 -6.1 -6.5 -7.1 -7.1 -8.5 -39.9
Earned Income Tax Credit
(EITC)\5\................. -* -0.7 -0.8 -0.8 -0.8 -0.9 -0.9 -5.0
Other mandatory............ -5.6 -2.2 -1.5 -3.9 -4.3 -6.7 -24.6 -48.9
--------------------------------------------------------------------------------
Total, mandatory........ -8.2 -12.4 -19.5 -34.3 -46.1 -58.0 -98.5 -277.2
Tax cuts..................... 3.3 13.9 16.0 18.8 25.3 20.0 2.3 99.7
Corporate loopholes and
other....................... -1.8 -7.5 -9.1 -9.8 -10.4 -11.2 -12.7 -62.4
--------------------------------------------------------------------------------
Total, policy proposal....... -15.5 -16.1 -28.2 -61.1 -82.6 -128.1 -205.5 -537.1
Debt service................. -0.4 -1.4 -2.6 -5.0 -8.7 -14.3 -23.4 -55.8
--------------------------------------------------------------------------------
Total savings.................. -15.9 -17.5 -30.8 -66.1 -91.3 -142.4 -228.8 -592.9
Deficit/surplus................ 158.0 164.2 150.0 126.2 108.7 62.1 -7.6 761.5
----------------------------------------------------------------------------------------------------------------
*$50 million or less.
\1\OMB has adjusted CBO's adjusted December baseline to remove the directed scorekeeping of student loan
administrative costs and to reflect the pending Supreme Court review of a lower court decision on accounting
``goodwill.'' The estimates also reflect legislation enacted since the December baseline was released, assume
Bureau of Labor Statistics (BLS) adjustments in the consumer price index, and include released and proposed
emergency appropriations.
\2\Includes an additional savings proposal--reforming outpatient department payments to correct the so-called
``formula-driven overpayment''--to account for technical differences, including different behavioral
assumptions and other baseline differences, between the Administration and CBO.
\3\Because of technical baseline differences between the Administration and CBO, a less restrictive per capita
index is used in order to achieve $59 billion in savings off of CBO's December 1995 baseline. Interactions
with Medicare and VA health proposals are included in ``other mandatory.''
\4\Includes savings to cover discretionary cap increases that fund administrative costs of implementing welfare
reform provisions.
\5\Includes EITC revenues.
[[Page 159]]
Table S-12. BUDGET SUMMARY UNDER CBO ASSUMPTIONS
(Uses CBO December economic and technical assumptions, in billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimate
----------------------------------------------------------------------------- Total
1996 1997 1998 1999 2000 2001 2002 1996-2002
--------------------------------------------------------------------------------------------------------------------------------------------------------
Outlays:
Discretionary................................................ 541.2 542.3 539.1 535.7 536.8 526.6 527.1 3,748.8
Mandatory:
Social security............................................ 349.2 366.8 385.6 405.1 425.5 446.8 469.3 2,848.4
Medicare................................................... 173.9 189.2 203.9 216.7 231.9 250.9 263.5 1,529.9
Medicaid................................................... 97.2 108.1 116.0 123.4 131.9 141.2 149.0 867.0
Other...................................................... 178.5 194.5 207.7 218.4 231.4 233.7 228.0 1,492.2
----------------------------------------------------------------------------------------
Subtotal, mandatory........................................ 798.9 858.6 913.2 963.6 1,020.7 1,072.7 1,109.8 6,737.4
Net interest................................................. 243.0 247.7 249.9 249.6 246.7 246.9 246.7 1,730.4
----------------------------------------------------------------------------------------
Total outlays................................................ 1,583.1 1,648.6 1,702.1 1,748.9 1,804.2 1,846.1 1,883.6 12,216.6
Revenues....................................................... 1,425.1 1,484.4 1,552.2 1,622.7 1,695.5 1,784.0 1,891.2 11,455.1
----------------------------------------------------------------------------------------
Deficit/surplus................................................ -158.0 -164.2 -150.0 -126.2 -108.7 -62.1 7.6 -761.5
--------------------------------------------------------------------------------------------------------------------------------------------------------
========================================================================
========================================================================
[[Page 163]]
SUMMARIES BY AGENCY/FUNCTION
Table S-13. DISCRETIONARY BUDGET AUTHORITY BY AGENCY
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
1993 1994 1995 1996 1997 1996-1997 1993-1997
Agency Actual Actual Actual Estimate Proposed Change Change
----------------------------------------------------------------------------------------------------------------
Legislative Branch.......... 2.3 2.3 2.4 2.2 2.4 0.1 0.1
The Judiciary............... 2.4 2.5 2.7 2.8 3.2 0.4 0.8
Executive Office of the
President.................. 0.2 0.2 0.2 0.2 0.2 * -*
Funds Appropriated to the
President.................. 12.2\1\ 11.5 12.1 11.1 11.4 0.3 -0.8
Agriculture................. 15.6 16.8 15.5 15.1 15.3 0.2 -0.3
Commerce.................... 3.2 3.9 4.1 3.8 4.3 0.5 1.0
Defense--Military........... 262.6 250.5 257.4 252.6 243.4 -9.2 -19.2
Defense--Civil.............. 3.9 4.0 3.4 3.3 3.4 0.1 -0.6
Education................... 23.7 24.5 24.5 24.1 25.6 1.5 1.9
Energy...................... 19.3 18.7 17.2 16.4 16.3 -0.1 -2.9
Health and Human Services... 30.1 33.0 33.3 32.8 35.0 2.2 4.8
Housing and Urban
Development................ 25.5 26.3 20.1 20.3 21.7 1.4 -3.9
Interior.................... 7.1 7.5 7.2 6.9 7.2 0.3 0.2
Justice..................... 9.3 9.5 12.3 14.5 16.4 2.0 7.1
Labor....................... 9.9 10.6 9.4 9.8 10.4 0.7 0.5
State....................... 5.1 5.4 4.9 4.8 5.0 0.3 -*
Transportation.............. 13.5 14.5 11.2 12.5 12.5 -* -1.0
Treasury.................... 10.1 10.3 10.7 10.5 11.5 1.0 1.4
Veterans Affairs............ 16.7 17.7 18.2 18.6 18.9 0.3 2.2
Environmental Protection
Agency..................... 6.9 6.6 6.0 6.7 7.0 0.3 0.1
General Services
Administration............. 0.3 0.6 0.2 0.2 0.7 0.5 0.4
National Aeronautics and
Space Administration....... 14.3 14.6 13.9 13.8 13.8 -* -0.5
Office of Personnel
Management................. 0.1 0.1 0.1 0.1 0.1 * -*
Small Business
Administration............. 0.9 1.9 0.8 0.7 0.8 0.1 -0.1
Social Security
Administration............. 1.5 1.8 2.4 2.1 2.1 * 0.7
Other Independent Agencies.. 12.5 16.7 14.9 14.0 11.1 -2.8 -1.4
Allowances.................. .......... .......... .......... 0.1 1.9 1.8 1.9
-----------------------------------------------------------------------------------
Total....................... 509.4 512.1 504.9 499.8 501.8 1.9 -7.6
----------------------------------------------------------------------------------------------------------------
*$50 million or less.
\1\ Excludes increase of $12.3 billion in International Monetary Fund special drawing rights; authority that
does not result in net outlays.
[[Page 164]]
Table S-14. DISCRETIONARY OUTLAYS BY AGENCY
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
1993 1994 1995 1996 1997 1996-1997 1993-1997
Agency Actual Actual Actual Estimate Proposed Change Change
----------------------------------------------------------------------------------------------------------------
Legislative Branch.......... 2.3 2.3 2.2 2.3 2.4 0.1 *
The Judiciary............... 2.4 2.5 2.7 2.9 3.2 0.3 0.8
Executive Office of the
President.................. 0.2 0.2 0.2 0.2 0.2 * *
Funds Appropriated to the
President.................. 13.4 12.1 12.2 12.3 12.1 -0.2 -1.3
Agriculture................. 14.6 15.9 15.9 15.6 15.3 -0.4 0.7
Commerce.................... 2.9 3.0 3.5 3.9 4.1 0.2 1.2
Defense--Military........... 280.1 269.5 261.2 255.3 248.3 -7.0 -31.8
Defense--Civil.............. 3.4 3.7 3.9 3.6 3.5 -0.1 0.1
Education................... 23.0 22.9 23.1 25.0 25.0 -* 2.0
Energy...................... 18.0 19.3 19.7 16.8 16.7 -0.1 -1.3
Health and Human Services... 27.7 31.1 32.3 31.9 33.3 1.4 5.6
Housing and Urban
Development................ 25.0 27.6 31.8 30.2 33.2 3.0 8.2
Interior.................... 7.1 7.3 7.5 7.2 7.3 * 0.2
Justice..................... 9.2 9.4 10.3 12.0 14.9 2.9 5.7
Labor....................... 9.5 9.8 10.0 10.2 10.2 * 0.7
State....................... 5.1 5.3 5.0 5.0 5.0 * -*
Transportation.............. 32.7 35.1 36.5 36.1 35.4 -0.8 2.6
Treasury.................... 9.9 10.1 10.6 10.4 11.3 0.8 1.3
Veterans Affairs............ 16.3 17.2 18.0 18.8 19.1 0.4 2.9
Environmental Protection
Agency..................... 6.1 6.1 6.6 6.5 6.7 0.1 0.6
General Services
Administration............. 0.4 0.3 0.6 0.4 0.5 0.1 0.1
National Aeronautics and
Space Administration....... 14.3 13.7 13.4 14.2 13.7 -0.5 -0.6
Office of Personnel
Management................. 0.2 0.2 0.2 0.2 0.2 -* -*
Small Business
Administration............. 1.1 1.3 1.3 1.1 0.8 -0.2 -0.3
Social Security
Administration............. 4.2 4.4 4.6 4.9 5.4 0.5 1.2
Other Independent Agencies.. 11.7 13.5 12.3 14.0 14.0 -* 2.2
Allowances.................. .......... .......... .......... 0.1 0.5 0.4 0.5
-----------------------------------------------------------------------------------
Total....................... 541.0 543.9 545.7 541.2 542.3 1.1 1.4
----------------------------------------------------------------------------------------------------------------
*$50 million or less.
[[Page 165]]
Table S-15. BUDGET AUTHORITY BY AGENCY
(In billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimate
Agency 1995 ----------------------------------------------------------------------------
Actual 1996 1997 1998 1999 2000 2001 2002
--------------------------------------------------------------------------------------------------------------------------------------------------------
Legislative Branch.............................................. 2.7 2.5 2.7 2.7 2.8 2.8 2.9 2.9
The Judiciary................................................... 3.0 3.2 3.6 3.7 3.8 4.0 4.0 4.2
Executive Office of the President............................... 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Funds Appropriated to the President............................. 15.2 9.1 9.1 8.7 8.5 8.8 9.8 10.9
Agriculture..................................................... 58.6 54.1 59.0 66.3 67.3 67.7 70.6 75.0
Commerce........................................................ 4.0 3.7 4.2 4.4 4.7 5.9 4.2 4.4
Defense--Military............................................... 255.7 251.8 242.6 248.1 254.3 261.7 269.6 276.6
Defense--Civil.................................................. 31.4 31.9 33.2 34.1 35.0 35.8 37.2 38.6
Education....................................................... 32.4 30.4 30.2 30.7 31.8 32.8 33.8 34.9
Energy.......................................................... 15.0 14.3 14.2 13.7 12.1 10.8 12.6 12.6
Health and Human Services....................................... 302.0 317.2 355.2 378.3 398.5 417.1 441.5 469.2
Housing and Urban Development................................... 19.8 17.9 21.9 27.4 29.1 30.5 33.3 36.1
Interior........................................................ 7.5 6.9 7.1 7.1 6.9 6.7 7.0 7.5
Justice......................................................... 12.9 15.4 17.3 18.4 19.5 19.6 18.5 17.5
Labor........................................................... 32.2 34.8 36.5 37.4 38.2 39.3 40.7 42.3
State........................................................... 5.3 5.2 5.5 5.3 5.1 4.9 5.3 5.5
Transportation.................................................. 38.1 36.3 41.5 34.5 32.3 30.0 33.3 36.4
Treasury........................................................ 353.8 367.1 371.4 372.6 376.1 378.5 379.9 383.0
Veterans Affairs................................................ 38.1 38.6 39.3 38.3 37.1 35.9 38.1 40.5
Environmental Protection Agency................................. 5.7 6.5 6.8 6.9 7.1 7.2 7.4 7.6
General Services Administration................................. 0.2 0.2 0.7 0.1 0.1 0.1 0.1 0.1
National Aeronautics and Space Administration................... 13.9 13.8 13.8 13.1 12.4 11.6 12.7 14.0
Office of Personnel Management.................................. 42.9 43.7 45.9 48.1 50.5 52.9 55.5 58.4
Small Business Administration................................... 0.8 1.0 0.8 0.7 0.7 0.6 0.7 0.8
Social Security Administration.................................. 361.1 377.2 397.8 419.4 439.9 463.9 481.2 507.3
---------------------------------------------------------------------------------------
On-Budget..................................................... (33.3) (31.3) (35.4) (39.5) (41.7) (46.5) (43.9) (48.9)
Off-Budget.................................................... (327.8) (345.9) (362.4) (380.0) (398.2) (417.4) (437.3) (458.4)
---------------------------------------------------------------------------------------
Other Independent Agencies...................................... 28.7 29.2 24.3 24.5 23.9 22.3 25.8 26.0
---------------------------------------------------------------------------------------
On-Budget..................................................... (26.2) (24.3) (21.1) (21.5) (22.0) (22.1) (23.6) (24.6)
Off-Budget.................................................... (2.6) (5.0) (3.2) (3.1) (1.9) (0.3) (2.3) (1.4)
---------------------------------------------------------------------------------------
Allowances:
Welfare reform................................................ ......... -0.4 -5.0 -6.5 -6.4 -7.0 -7.1 -8.6
Full funding for fixed assets................................. ......... ......... 1.4 ......... ......... ......... ......... .........
Unallocated discretionary fiscal dividend..................... ......... ......... ......... ......... ......... ......... 8.7 9.0
---------------------------------------------------------------------------------------
Total Allowances.............................................. ......... -0.4 -3.6 -6.5 -6.4 -7.0 1.6 0.4
=======================================================================================
Undistributed Offsetting Receipts............................... -137.6 -139.9 -143.0 -147.6 -152.5 -160.7 -165.8 -191.9
---------------------------------------------------------------------------------------
On-Budget..................................................... (-97.9) (-97.1) (-97.0) (-98.0) (-99.4) (-103.4) (-104.2) (-125.4)
Off-Budget.................................................... (-39.7) (-42.7) (-46.0) (-49.6) (-53.2) (-57.3) (-61.6) (-66.5)
=======================================================================================
Total........................................................... 1,543.3 1,571.6 1,638.4 1,690.9 1,738.9 1,783.7 1,861.8 1,920.9
---------------------------------------------------------------------------------------
On-budget..................................................... (1,252.7) (1,263.5) (1,318.8) (1,357.4) (1,391.9) (1,423.4) (1,483.7) (1,527.6)
Off-budget.................................................... (290.6) (308.1) (319.6) (333.5) (347.0) (360.4) (378.0) (393.4)
--------------------------------------------------------------------------------------------------------------------------------------------------------
*$50 million or less.
[[Page 166]]
Table S-16. OUTLAYS BY AGENCY
(In billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimate
Agency 1995 ----------------------------------------------------------------------------
Actual 1996 1997 1998 1999 2000 2001 2002
--------------------------------------------------------------------------------------------------------------------------------------------------------
Legislative Branch.............................................. 2.6 2.7 2.8 2.8 2.9 2.9 3.0 3.0
The Judiciary................................................... 2.9 3.3 3.6 3.6 3.8 3.9 4.0 4.1
Executive Office of the President............................... 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Funds Appropriated to the President............................. 11.2 10.4 10.3 10.1 10.0 9.5 9.4 10.2
Agriculture..................................................... 56.7 54.8 55.9 58.0 58.7 59.0 60.8 63.2
Commerce........................................................ 3.4 3.8 4.0 4.1 4.6 6.1 4.3 4.3
Defense--Military............................................... 259.6 254.3 247.5 243.9 246.5 253.9 256.6 264.9
Defense--Civil.................................................. 31.7 32.3 33.3 33.9 34.7 35.5 36.7 38.2
Education....................................................... 31.3 30.4 29.6 28.9 30.0 31.0 32.0 33.1
Energy.......................................................... 17.6 14.7 14.6 13.9 12.8 11.6 12.0 11.8
Health and Human Services....................................... 303.1 327.4 354.3 377.7 397.2 416.3 439.0 465.4
Housing and Urban Development................................... 29.0 26.4 32.2 33.2 32.7 30.7 30.0 30.0
Interior........................................................ 7.4 6.9 6.9 6.9 6.9 6.7 6.9 7.3
Justice......................................................... 10.8 13.0 15.6 17.8 18.8 19.6 19.9 18.8
Labor........................................................... 32.1 34.4 35.2 36.1 37.1 38.4 39.7 41.3
State........................................................... 5.3 5.5 5.5 5.4 5.2 5.0 5.2 5.4
Transportation.................................................. 38.8 39.0 38.1 37.9 35.9 33.8 33.2 34.5
Treasury........................................................ 348.6 365.0 368.9 370.2 373.8 376.1 377.4 380.5
Veterans Affairs................................................ 37.8 37.6 39.8 39.3 37.1 37.4 36.3 40.1
Environmental Protection Agency................................. 6.4 6.3 6.5 6.6 6.7 7.0 7.2 7.3
General Services Administration................................. 0.7 0.5 0.7 0.5 0.2 0.1 0.1 0.1
National Aeronautics and Space Administration................... 13.4 14.2 13.7 13.8 12.6 11.9 12.3 13.4
Office of Personnel Management.................................. 41.3 42.4 44.6 46.7 48.7 51.2 54.0 57.1
Small Business Administration................................... 0.7 1.0 0.4 0.4 0.4 0.4 0.4 0.5
Social Security Administration.................................. 362.1 377.3 398.1 418.0 438.3 462.1 479.6 505.5
---------------------------------------------------------------------------------------
On-Budget..................................................... (31.8) (32.1) (37.0) (39.5) (41.7) (46.5) (43.8) (48.7)
Off-Budget.................................................... (330.4) (345.2) (361.1) (378.5) (396.6) (415.7) (435.7) (456.8)
---------------------------------------------------------------------------------------
Other Independent Agencies...................................... 2.2 9.2 21.2 20.2 20.1 18.8 19.1 19.7
---------------------------------------------------------------------------------------
On-Budget..................................................... (4.2) (9.5) (18.5) (20.1) (21.5) (19.3) (20.9) (21.5)
Off-Budget.................................................... (-2.0) (-0.3) (2.6) (*) (-1.5) (-0.5) (-1.8) (-1.8)
---------------------------------------------------------------------------------------
Allowances:
Government-wide debt collection............................... ......... -0.3 -0.1 -0.1 -0.1 -0.1 -0.1 -*
Welfare reform................................................ ......... -0.3 -4.9 -6.5 -6.3 -7.0 -7.1 -8.6
Unallocated discretionary fiscal dividend..................... ......... ......... ......... ......... ......... ......... 5.2 9.0
---------------------------------------------------------------------------------------
Total Allowances.............................................. ......... -0.6 -5.0 -6.6 -6.4 -7.1 -2.0 0.3
=======================================================================================
Undistributed Offsetting Receipts............................... -137.6 -139.9 -143.0 -147.6 -152.5 -160.7 -165.8 -191.9
---------------------------------------------------------------------------------------
On-Budget..................................................... (-97.9) (-97.1) (-97.0) (-98.0) (-99.4) (-103.4) (-104.2) (-125.4)
Off-Budget.................................................... (-39.7) (-42.7) (-46.0) (-49.6) (-53.2) (-57.3) (-61.6) (-66.5)
=======================================================================================
Total........................................................... 1,519.1 1,572.4 1,635.3 1,675.9 1,716.9 1,761.4 1,811.5 1,868.3
---------------------------------------------------------------------------------------
On-budget..................................................... (1,230.5) (1,270.3) (1,317.7) (1,346.9) (1,375.0) (1,403.5) (1,439.2) (1,479.8)
Off-budget.................................................... (288.7) (302.1) (317.7) (329.0) (342.0) (357.8) (372.3) (388.5)
--------------------------------------------------------------------------------------------------------------------------------------------------------
*$50 million or less.
[[Page 167]]
Table S-17. BUDGET AUTHORITY BY FUNCTION
(In billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimate
Function 1995 ----------------------------------------------------------------------------
Actual 1996 1997 1998 1999 2000 2001 2002
--------------------------------------------------------------------------------------------------------------------------------------------------------
National defense:
Department of Defense--Military............................... 255.7 251.8 242.6 248.1 254.3 261.7 269.6 276.6
Other......................................................... 10.7 11.5 11.7 10.7 9.8 8.9 10.0 11.3
---------------------------------------------------------------------------------------
Total National defense........................................ 266.3 263.3 254.4 258.8 264.1 270.5 279.6 287.9
---------------------------------------------------------------------------------------
International affairs........................................... 25.9 16.3 16.6 15.8 15.2 15.0 16.6 18.2
General science, space, and technology.......................... 16.7 16.7 17.9 16.1 15.3 14.6 15.8 17.2
Energy.......................................................... 5.0 2.0 1.4 2.0 1.6 1.2 1.8 0.4
Natural resources and environment............................... 21.0 20.7 21.9 21.6 21.2 20.6 21.4 22.6
Agriculture..................................................... 8.6 6.9 8.5 8.7 8.1 7.1 7.0 7.9
Commerce and housing credit..................................... 11.8 9.3 12.1 12.7 12.0 11.6 13.3 13.2
---------------------------------------------------------------------------------------
On-Budget..................................................... (9.2) (4.3) (8.9) (9.6) (10.1) (11.3) (11.0) (11.8)
Off-Budget.................................................... (2.6) (5.0) (3.2) (3.1) (1.9) (0.3) (2.3) (1.4)
---------------------------------------------------------------------------------------
Transportation.................................................. 39.3 37.1 42.5 35.5 33.2 30.9 34.2 37.4
Community and regional development.............................. 13.0 11.9 9.1 8.6 8.3 7.8 8.3 9.3
Education, training, employment, and social services............ 55.6 53.9 55.3 57.1 59.2 60.9 63.7 66.6
Health.......................................................... 117.0 110.9 134.7 141.2 146.7 152.1 157.3 163.5
Medicare........................................................ 156.5 178.0 189.9 204.7 218.8 230.9 248.1 267.5
Income security................................................. 215.3 220.9 228.8 249.4 260.5 274.1 282.1 296.9
Social security................................................. 333.3 351.6 369.4 387.6 406.4 426.1 446.6 468.3
---------------------------------------------------------------------------------------
On-Budget..................................................... (5.5) (5.8) (7.0) (7.6) (8.2) (8.7) (9.3) (9.9)
Off-Budget.................................................... (327.8) (345.9) (362.4) (380.0) (398.2) (417.4) (437.3) (458.4)
---------------------------------------------------------------------------------------
Veterans benefits and services.................................. 38.2 38.8 39.5 38.5 37.2 36.0 38.2 40.7
Administration of justice....................................... 18.8 21.3 23.9 24.7 25.6 25.7 25.0 24.4
General government.............................................. 13.2 13.3 14.8 14.0 14.2 14.4 15.0 15.5
Net interest.................................................... 232.2 241.1 238.5 236.1 234.6 229.9 227.0 223.2
---------------------------------------------------------------------------------------
On-Budget..................................................... (265.5) (277.5) (277.9) (278.5) (280.1) (278.7) (279.6) (279.8)
Off-Budget.................................................... (-33.3) (-36.4) (-39.4) (-42.4) (-45.5) (-48.9) (-52.6) (-56.6)
---------------------------------------------------------------------------------------
Allowances...................................................... ......... ......... ......... ......... ......... ......... 8.7 9.0
Undistributed offsetting receipts:
Employer share, employee retirement (on-budget)............... -28.0 -27.1 -27.5 -27.7 -29.3 -31.4 -33.7 -35.9
Employer share, employee retirement (off-budget).............. -6.4 -6.3 -6.7 -7.1 -7.7 -8.4 -9.0 -9.9
Rents and royalties on the Outer Continental Shelf............ -2.4 -2.7 -3.1 -2.6 -2.6 -2.6 -2.6 -2.6
Sale of major assets.......................................... ......... -1.8 -0.1 ......... ......... ......... ......... -1.9
Other undistributed offsetting receipts....................... -7.6 -4.4 -3.6 -5.0 -3.8 -3.1 -2.6 -18.4
---------------------------------------------------------------------------------------
Total Undistributed offsetting receipts....................... -44.5 -42.3 -41.0 -42.4 -43.4 -45.5 -47.9 -68.7
---------------------------------------------------------------------------------------
On-Budget..................................................... (-38.0) (-36.0) (-34.3) (-35.3) (-35.7) (-37.1) (-38.9) (-58.8)
Off-Budget.................................................... (-6.4) (-6.3) (-6.7) (-7.1) (-7.7) (-8.4) (-9.0) (-9.9)
=======================================================================================
Total........................................................... 1,543.3 1,571.6 1,638.4 1,690.9 1,738.9 1,783.7 1,861.8 1,920.9
---------------------------------------------------------------------------------------
On-budget..................................................... (1,252.7) (1,263.5) (1,318.8) (1,357.4) (1,391.9) (1,423.4) (1,483.7) (1,527.6)
Off-budget.................................................... (290.6) (308.1) (319.6) (333.5) (347.0) (360.4) (378.0) (393.4)
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 168]]
Table S-18. OUTLAYS BY FUNCTION
(In billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimate
Function 1995 ----------------------------------------------------------------------------
Actual 1996 1997 1998 1999 2000 2001 2002
--------------------------------------------------------------------------------------------------------------------------------------------------------
National defense:
Department of Defense--Military............................... 259.4 254.3 247.5 243.9 246.5 253.9 256.6 264.9
Other......................................................... 12.6 11.3 11.3 10.9 10.0 9.1 9.4 10.6
---------------------------------------------------------------------------------------
Total National defense........................................ 272.1 265.6 258.7 254.8 256.5 262.9 266.0 275.5
---------------------------------------------------------------------------------------
International affairs........................................... 16.4 14.8 15.0 14.4 14.0 13.4 13.5 14.5
General science, space, and technology.......................... 16.7 16.9 16.6 16.6 15.6 14.9 15.3 16.5
Energy.......................................................... 4.9 3.2 2.2 1.9 1.9 1.5 1.6 0.3
Natural resources and environment............................... 22.1 21.6 21.6 21.0 20.8 20.4 20.8 21.7
Agriculture..................................................... 9.8 7.7 7.7 9.0 8.5 7.6 7.4 7.4
Commerce and housing credit..................................... -14.4 -10.7 5.6 6.4 7.0 6.7 4.5 4.6
---------------------------------------------------------------------------------------
On-Budget..................................................... (-12.5) (-10.4) (3.0) (6.4) (8.5) (7.2) (6.4) (6.4)
Off-Budget.................................................... (-2.0) (-0.3) (2.6) (0.0) (-1.5) (-0.5) (-1.8) (-1.8)
---------------------------------------------------------------------------------------
Transportation.................................................. 39.4 39.8 39.1 38.9 36.9 34.8 34.1 35.5
Community and regional development.............................. 10.6 12.9 11.8 10.5 9.5 8.3 8.0 8.1
Education, training, employment, and social services............ 54.3 54.1 53.5 53.8 55.6 57.2 59.5 62.2
Health.......................................................... 115.4 121.2 134.6 141.3 146.6 152.1 156.4 162.2
Medicare........................................................ 159.9 177.6 190.1 204.9 218.4 231.1 248.4 267.0
Income security................................................. 220.4 228.3 236.7 244.9 253.4 264.3 269.3 281.6
Social security................................................. 335.8 350.9 368.1 386.2 404.8 424.4 445.0 466.7
---------------------------------------------------------------------------------------
On-Budget..................................................... (5.5) (5.8) (7.0) (7.6) (8.2) (8.7) (9.3) (9.9)
Off-Budget.................................................... (330.4) (345.2) (361.1) (378.5) (396.6) (415.7) (435.7) (456.8)
---------------------------------------------------------------------------------------
Veterans benefits and services.................................. 37.9 37.7 39.9 39.4 37.2 37.4 36.4 40.2
Administration of justice....................................... 16.2 18.8 22.0 24.0 24.9 25.6 26.1 25.4
General government.............................................. 13.8 13.6 14.6 14.4 14.2 14.4 14.9 15.5
Net interest.................................................... 232.2 241.1 238.5 236.1 234.6 229.9 227.0 223.2
---------------------------------------------------------------------------------------
On-Budget..................................................... (265.5) (277.5) (277.9) (278.5) (280.1) (278.7) (279.6) (279.8)
Off-Budget.................................................... (-33.3) (-36.4) (-39.4) (-42.4) (-45.5) (-48.9) (-52.6) (-56.6)
---------------------------------------------------------------------------------------
Allowances...................................................... ......... -0.3 -0.1 -0.1 -0.1 -0.1 5.1 9.0
Undistributed offsetting receipts:
Employer share, employee retirement (on-budget)............... -28.0 -27.1 -27.5 -27.7 -29.3 -31.4 -33.7 -35.9
Employer share, employee retirement (off-budget).............. -6.4 -6.3 -6.7 -7.1 -7.7 -8.4 -9.0 -9.9
Rents and royalties on the Outer Continental Shelf............ -2.4 -2.7 -3.1 -2.6 -2.6 -2.6 -2.6 -2.6
Sale of major assets.......................................... ......... -1.8 -0.1 ......... ......... ......... ......... -1.9
Other undistributed offsetting receipts....................... -7.6 -4.4 -3.6 -5.0 -3.8 -3.1 -2.6 -18.4
---------------------------------------------------------------------------------------
Total Undistributed offsetting receipts....................... -44.5 -42.3 -41.0 -42.4 -43.4 -45.5 -47.9 -68.7
---------------------------------------------------------------------------------------
On-Budget..................................................... (-38.0) (-36.0) (-34.3) (-35.3) (-35.7) (-37.1) (-38.9) (-58.8)
Off-Budget.................................................... (-6.4) (-6.3) (-6.7) (-7.1) (-7.7) (-8.4) (-9.0) (-9.9)
=======================================================================================
Total........................................................... 1,519.1 1,572.4 1,635.3 1,675.9 1,716.9 1,761.4 1,811.5 1,868.3
---------------------------------------------------------------------------------------
On-budget..................................................... (1,230.5) (1,270.3) (1,317.7) (1,346.9) (1,375.0) (1,403.5) (1,439.2) (1,479.8)
Off-budget.................................................... (288.7) (302.1) (317.7) (329.0) (342.0) (357.8) (372.3) (388.5)
--------------------------------------------------------------------------------------------------------------------------------------------------------
========================================================================
========================================================================
[[Page 171]]
OTHER SUMMARY TABLES
Table S-19. RECEIPTS BY SOURCE--SUMMARY
(In billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimate
Source 1995 ----------------------------------------------------------------------------
Actual 1996 1997 1998 1998 2000 2001 2002
--------------------------------------------------------------------------------------------------------------------------------------------------------
Individual income taxes......................................... 590.2 630.9 645.1 683.4 714.2 748.7 790.0 834.5
Corporation income taxes........................................ 157.0 167.1 185.0 201.7 212.7 225.4 236.7 245.8
Social insurance taxes and contributions........................ 484.5 507.5 536.2 560.9 589.4 618.8 647.0 679.5
On-budget..................................................... (133.4) (140.1) (148.2) (154.6) (161.6) (168.8) (175.8) (184.8)
Off-budget.................................................... (351.1) (367.4) (388.0) (406.3) (427.8) (450.0) (471.2) (494.6)
Excise taxes.................................................... 57.5 53.9 59.6 60.4 61.7 62.8 64.2 65.6
Estate and gift taxes........................................... 14.8 15.9 17.1 18.1 19.5 20.9 22.5 24.1
Customs duties.................................................. 19.3 19.3 20.5 20.8 20.9 21.9 22.4 24.3
Miscellaneous receipts.......................................... 31.9 32.1 31.8 32.7 34.2 35.3 37.1 38.4
---------------------------------------------------------------------------------------
Total receipts................................................ 1,355.2 1,426.8 1,495.2 1,577.9 1,652.5 1,733.8 1,819.8 1,912.2
On-budget................................................... (1,004.1) (1,059.3) (1,107.2) (1,171.6) (1,224.8) (1,283.9) (1,348.6) (1,417.6)
Off-budget.................................................. (351.1) (367.4) (388.0) (406.3) (427.8) (450.0) (471.2) (494.6)
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 172]]
Table S-20. FEDERAL EMPLOYMENT IN THE EXECUTIVE BRANCH
(Civilian employment as measured by Full-Time Equivalents, in thousands)
----------------------------------------------------------------------------------------------------------------
Actual Estimate Change: 1993 base
1993 -------------------------------------------------- to 1997
Agency Base -------------------
1993 1994 1995 1996 1997 FTE's Percent
----------------------------------------------------------------------------------------------------------------
Cabinet agencies:
Agriculture................... 115.6 114.4 109.8 103.8 105.5 104.6 -11.1 -9.5%
Commerce...................... 36.7 36.1 36.0 35.3 35.2 35.5 -1.2 -3.3%
Defense--military functions... 931.3 931.8 868.3 821.7 800.0 767.4 -163.9 -17.6%
Education..................... 5.0 4.9 4.8 4.8 4.8 4.6 -0.4 -8.1%
Energy........................ 20.6 20.3 19.8 19.7 19.7 18.5 -2.1 -10.3%
Health and Human
Services\1\\2\............... 64.5 65.6 62.4 59.0 58.5 58.9 -5.6 -8.6%
Health and Human Services,
exempt FTEs.................. 0.5 0.5 0.5 0.3 0.3 0.3 -0.1 -28.7%
Social Security
Administration\2\............ 65.4 64.8 64.5 64.6 64.8 64.8 -0.6 -0.9%
Housing and Urban Development. 13.6 13.3 13.1 12.1 11.9 11.4 -2.2 -16.4%
Interior...................... 79.3 78.1 76.3 72.0 70.5 72.2 -7.2 -9.0%
Justice....................... 99.4 95.4 95.3 97.9 106.3 112.5 13.1 13.1%
Labor......................... 18.3 18.0 17.5 16.8 16.7 17.1 -1.3 -6.8%
State......................... 26.0 25.6 25.2 23.9 23.7 23.5 -2.5 -9.7%
Transportation................ 70.3 69.1 66.4 63.2 63.9 63.9 -6.5 -9.1%
Treasury...................... 166.1 161.1 157.3 157.5 153.3 156.8 -9.3 -5.6%
Veterans Affairs\1\........... 227.0 229.1 227.8 223.1 218.2 217.3 -9.7 -4.2%
Veterans Affairs, exempt FTEs. 5.4 5.1 5.3 5.4 5.5 5.5 0.2 3.3%
Other agencies (excluding Postal
Service):
Agency for International
Development\1\............... 4.4 4.1 3.9 3.6 3.4 3.1 -1.3 -29.2%
Corps of Engineers............ 29.2 28.4 27.9 27.7 27.6 27.2 -2.0 -6.8%
Environmental Protection
Agency....................... 18.6 17.9 17.6 17.5 18.1 18.0 -0.6 -3.3%
Equal Employment Opportunity
Commission................... 2.9 2.8 2.8 2.8 2.8 3.0 0.2 5.8%
Federal Emergency Management
Agency....................... 2.7 4.0 4.9 4.6 3.9 4.0 1.2 43.8%
Federal Deposit Insurance
Corp./Resolution Trust Corp.. 21.6 21.9 20.0 15.7 12.8 9.2 -12.3 -57.1%
General Services
Administration............... 20.6 20.2 19.5 17.0 16.2 14.8 -5.9 -28.4%
National Aeronautics and Space
Administration............... 25.7 24.9 23.9 22.4 21.8 21.2 -4.5 -17.5%
National Archives and Records
Administration............... 2.8 2.6 2.6 2.4 2.5 2.5 -0.2 -8.5%
National Labor Relations Board 2.1 2.1 2.1 2.0 2.0 2.0 -0.1 -4.8%
National Science Foundation... 1.3 1.2 1.2 1.2 1.3 1.3 -0.1 -6.2%
Nuclear Regulatory Commission. 3.4 3.4 3.3 3.2 3.2 3.1 -0.3 -8.3%
Office of Personnel Management 6.2 5.9 5.3 4.2 4.0 3.6 -2.7 -42.7%
Panama Canal Commission....... 8.7 8.5 8.5 8.8 9.0 9.1 0.4 4.8%
Peace Corps................... 1.3 1.2 1.2 1.2 1.2 1.2 -0.1 -3.4%
Railroad Retirement Board..... 1.9 1.8 1.7 1.6 1.5 1.4 -0.4 -24.0%
Securities and Exchange
Commission................... 2.7 2.7 2.7 2.7 2.8 2.8 -0.1 -2.2%
Small Business Administration. 4.0 5.6 6.3 5.7 4.3 4.2 0.2 5.2%
Smithsonian Institution....... 5.9 5.5 5.4 5.3 5.3 5.3 -0.6 -10.4%
Tennessee Valley Authority.... 19.1 17.3 18.6 16.7 16.4 16.4 -2.7 -14.1%
United States Information
Agency....................... 8.7 8.3 8.1 7.7 7.3 7.1 -1.6 -18.6%
All other small agencies...... 16.1 15.4 15.0 15.1 14.8 14.8 -1.3 -8.3%
Allowance for welfare
reform\3\.................... ........ ........ ........ ........ ........ 0.5 0.5 100.0%
-------------------------------------------------------------------------------
Total, Executive Branch civilian
employment..................... 2,155.2 2,138.8 2,052.7 1,970.2 1,940.8 1,910.5 -244.7 -11.3%
Total, Defense................. 931.3 931.8 868.3 821.7 800.0 767.4 -163.9 -17.6%
Total, Non-Defense............. 1,223.9 1,207.1 1,184.4 1,148.4 1,140.8 1,143.1 -80.8 -6.3%
FTEs exempt from Ceiling....... ........ ........ 5.8 5.7 5.9 5.9 ........ ........
Total, Executive Branch subject
to Ceiling..................... ........ ........ 2,047.0 1,964.4 1,934.9 1,904.6 ........ ........
FTE Ceiling\4\.................. ........ ........ 2,084.6 2,043.3 2,003.3 1,963.3 ........ ........
===============================================================================
Total FTE reduction from the
1993 base.................... ........ -16.4 -102.5 -185.0 -214.4 -244.7 ........ ........
----------------------------------------------------------------------------------------------------------------
\1\The Departments of Health and Human Services, Veterans Affairs, and the Agency for International Development
have components that are exempt from FTE controls. \2\The Social Security Administration became a separate
agency, no longer part of Health and Human Services, on March 31, 1995. \3\This allowance is for an
estimated 500 FTEs for the Social Security Administration to conduct additional continuing disability reviews.
\4\FTE limitations are set for the Executive Branch in the Federal Workforce Restructuring Act of 1994 (P.L.
103-226).
[[Page 173]]
Table S-21. FEDERAL GOVERNMENT FINANCING AND DEBT\1\
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate
1995 ---------------------------------------------------------------------
Actual 1996 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Financing:
Surplus or deficit (-)....... -163.9 -145.6 -140.1 -98.0 -64.4 -27.5 8.3 43.9
(On-budget)................ -226.3 -211.0 -210.4 -175.3 -150.2 -119.7 -90.6 -62.2
(Off-budget)............... 62.4 65.3 70.3 77.3 85.8 92.1 98.9 106.1
Means of financing other than
borrowing from the public:
Changes in:\2\
Treasury operating cash
balance.................. -2.0 -2.1 ........ ........ ........ ........ ........ ........
Checks outstanding,
etc.\3\.................. -2.8 -* -3.3 ........ ........ ........ ........ ........
Deposit fund balances.... 0.9 0.1 -1.5 ........ ........ ........ ........ ........
Seigniorage on coins....... 0.7 0.7 0.6 0.7 0.7 0.8 0.8 0.8
Less: Net financing
disbursements:
Direct loan financing
accounts................. -7.0 -17.9 -20.8 -25.2 -27.3 -27.3 -26.7 -25.7
Guaranteed loan financing
accounts................. 2.9 -0.4 0.8 -2.0 -2.2 -2.4 -1.9 -1.9
-------------------------------------------------------------------------------
Total, means of financing
other than borrowing from
the public................. -7.4 -19.6 -24.2 -26.5 -28.7 -29.0 -27.8 -26.8
-------------------------------------------------------------------------------
Total, requirement for
borrowing from the public.... -171.3 -165.3 -164.3 -124.5 -93.1 -56.5 -19.6 17.1
Change in debt held by the
public....................... 171.3 165.3 164.3 124.5 93.1 56.5 19.6 -17.1
Debt Outstanding, End of Year:
Gross Federal debt:
Debt issued by Treasury.... 4,894.0 5,172.1 5,465.4 5,720.3 5,948.5 6,154.8 6,330.5 6,477.3
Debt issued by other
agencies................... 27.0 35.2 33.4 30.1 30.0 29.9 29.6 29.2
-------------------------------------------------------------------------------
Total, gross Federal debt.. 4,921.0 5,207.3 5,498.9 5,750.4 5,978.5 6,184.7 6,360.2 6,506.5
Held by:
Government accounts........ 1,317.6 1,438.6 1,565.8 1,692.9 1,827.9 1,977.6 2,133.5 2,296.8
The public................. 3,603.4 3,768.7 3,933.0 4,057.5 4,150.6 4,207.1 4,226.7 4,209.6
Federal Reserve Banks.... 374.1 ........ ........ ........ ........ ........ ........ ........
Other.................... 3,229.3 ........ ........ ........ ........ ........ ........ ........
Debt Subject to Statutory
Limitation, End of Year:
Debt issued by Treasury...... 4,894.0 5,172.1 5,465.4 5,720.3 5,948.5 6,154.8 6,330.5 6,477.3
Less: Treasury debt not
subject to limitation\4\..... -15.6 -15.6 -15.6 -15.6 -15.6 -15.6 -15.6 -15.6
Agency debt subject to
limitation................... 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Adjustment for discount and
premium\5\................... 6.1 6.1 6.1 6.1 6.1 6.1 6.1 6.1
-------------------------------------------------------------------------------
Total, debt subject to
statutory limitation\6\...... 4,884.6 5,162.7 5,456.0 5,710.9 5,939.2 6,145.5 6,321.2 6,467.9
----------------------------------------------------------------------------------------------------------------
*$50 million or less.
\1\Treasury securities held by the public and zero-coupon bonds held by Government accounts are almost entirely
measured at sales price plus amortized discount or less amortized premium. Agency debt is almost entirely
measured at face value. Treasury securities in the Government account series are measured at face value less
unrealized discount (if any).
\2\A decrease in the Treasury operating cash balance (which is an asset) would be a means of financing the
deficit and therefore have a positive sign. An increase in checks outstanding or deposit fund balances (which
are liabilities) would also be a means of financing the deficit and therefore have a positive sign.
\3\Besides checks outstanding, includes accrued interest payable on Treasury debt, miscellaneous liability
accounts, allocations of special drawing rights, and, as an offset, cash and monetary assets other than the
Treasury operating cash balance, miscellaneous asset accounts, and profit on the sale of gold.
\4\Consists primarily of Federal Financing Bank debt.
\5\Consists of unamortized discount (less premium) on public issues of Treasury notes and bonds (other than zero-
coupon bonds) and unrealized discount on Government account series securities.
\6\The statutory debt limit is $4,900 billion.
[[Page 174]]
Table S-22. COMPARISON OF ECONOMIC ASSUMPTIONS
(Calendar years)
----------------------------------------------------------------------------------------------------------------
Projections
--------------------------------------------------------------
1996 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Real GDP (chain-weighted):\1\
1996 Mid-Session Review\2\.................... 2.3 2.3 2.3 2.3 2.3 2.2 2.2
CBO December.................................. 2.2 2.3 2.3 2.3 2.3 2.3 2.3
1997 Budget................................... 2.2 2.3 2.3 2.3 2.3 2.3 2.3
Chain-weighted GDP Price Index:\1\
1996 Mid-Session Review\2\.................... 3.1 3.1 3.1 3.1 3.1 3.1 3.1
CBO December.................................. 2.7 2.6 2.6 2.6 2.6 2.6 2.6
1997 Budget................................... 2.8 2.7 2.7 2.7 2.7 2.7 2.7
Consumer Price Index (all-urban):\1\
1996 Mid-Session Review....................... 3.2 3.2 3.2 3.1 3.1 3.1 3.1
CBO December.................................. 3.2 3.1 3.0 2.9 2.9 2.9 3.0
1997 Budget................................... 3.1 2.9 2.8 2.8 2.8 2.8 2.8
Unemployment rate:\3\
1996 Mid-Session Review....................... 5.9 5.8 5.8 5.8 5.8 5.8 5.8
CBO December.................................. 5.9 6.0 6.0 6.0 6.0 6.0 6.0
1997 Budget................................... 5.7 5.7 5.7 5.7 5.7 5.7 5.7
Interest rates:\3\
91-day Treasury bills:
1996 Mid-Session Review..................... 5.4 5.2 5.0 4.8 4.6 4.6 4.4
CBO December................................ 5.3 5.0 4.7 4.2 3.9 3.9 3.9
1997 Budget................................. 4.9 4.5 4.3 4.2 4.0 4.0 4.0
10-year Treasury notes:
1996 Mid-Session Review..................... 6.5 6.6 6.4 6.2 6.0 5.8 5.6
CBO December................................ 5.8 5.6 5.5 5.5 5.5 5.5 5.5
1997 Budget................................. 5.6 5.3 5.0 5.0 5.0 5.0 5.0
----------------------------------------------------------------------------------------------------------------
\1\Percent change, fourth quarter over fourth quarter.
\2\Adjusted to chain-weighted basis.
\3\Annual averages, percent.