[Budget of the U.S. Government]
[VII. Summary Tables]
[From the U.S. Government Publishing Office, www.gpo.gov]
VII. SUMMARY TABLES
[[Page 303]]
BUDGET AGGREGATES
Table S-1. OUTLAYS, RECEIPTS, AND DEFICIT SUMMARY
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate
1996 -----------------------------------------------------------
Actual 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Outlays:
Discretionary:
National defense...................... 266.0 268.0 260.1 262.1 267.7 268.6 273.9
International......................... 18.3 19.6 19.3 19.9 19.1 18.9 19.0
Domestic.............................. 250.1 262.5 268.0 275.5 277.1 273.5 274.3
---------------------------------------------------------------------
Subtotal, discretionary............. 534.4 550.0 547.5 557.5 563.9 561.0 567.2
---------------------------------------------------------------------
Mandatory:
Programmatic:
Social security..................... 347.1 364.2 380.9 398.6 417.7 438.0 459.7
Medicare and Medicaid............... 263.3 290.1 310.2 328.4 344.8 368.5 393.9
Means-tested entitlements (except
Medicaid).......................... 95.3 103.8 107.4 111.6 117.1 115.3 121.9
Deposit insurance................... -8.4 -12.1 -4.0 -2.0 -1.1 -1.6 -1.5
Other............................... 125.2 134.0 151.2 158.2 169.8 168.3 167.7
---------------------------------------------------------------------
Subtotal, programmatic............ 822.5 880.1 945.7 994.9 1,048.3 1,088.5 1,141.7
---------------------------------------------------------------------
Undistributed offsetting receipts..... -37.6 -46.5 -55.6 -43.5 -46.0 -50.1 -68.0
---------------------------------------------------------------------
Subtotal, mandatory................. 784.9 833.6 890.2 951.3 1,002.3 1,038.5 1,073.8
---------------------------------------------------------------------
Net interest............................ 241.1 247.4 249.9 251.8 248.2 245.0 238.8
---------------------------------------------------------------------
Subtotal, mandatory and net interest.. 1,026.0 1,081.0 1,140.0 1,203.2 1,250.5 1,283.5 1,312.5
---------------------------------------------------------------------
Total outlays............................. 1,560.3 1,631.0 1,687.5 1,760.7 1,814.4 1,844.5 1,879.7
=====================================================================
Receipts.................................. 1,453.1 1,505.4 1,566.8 1,643.3 1,727.3 1,808.3 1,896.7
=====================================================================
Deficit/Surplus........................... -107.3 -125.6 -120.6 -117.4 -87.1 -36.1 17.0
=====================================================================
Memorandum:
Discretionary Budget Authority:
National Defense...................... 265.0 263.1 266.0 269.8 275.5 282.0 289.8
International......................... 18.1 18.1 23.0 20.1 19.1 18.8 18.8
Domestic.............................. 219.3 224.6 241.5 245.5 247.9 248.6 252.0
---------------------------------------------------------------------
Total................................. 502.5 505.8 530.5 535.4 542.5 549.4 560.6
----------------------------------------------------------------------------------------------------------------
[[Page 304]]
Table S-2. ON- AND OFF-BUDGET TOTALS (1996-2007)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimate
1996 -------------------------------------------------------------------------------------------------------------
Actual 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
--------------------------------------------------------------------------------------------------------------------------------------------------------
In billions of dollars
Outlays......................... 1,560.3 1,631.0 1,687.5 1,760.7 1,814.4 1,844.5 1,879.7 1,986.3 2,063.8 2,147.9 2,229.0 2,319.9
Receipts........................ 1,453.1 1,505.4 1,566.8 1,643.3 1,727.3 1,808.3 1,896.7 1,986.4 2,081.3 2,189.4 2,291.8 2,402.1
-----------------------------------------------------------------------------------------------------------------------
Deficit/Surplus:
Unified....................... -107.3 -125.6 -120.6 -117.4 -87.1 -36.1 17.0 0.1 17.6 41.5 62.8 82.2
On-Budget..................... -174.3 -199.5 -197.0 -204.7 -183.3 -139.2 -92.5 -115.5 -104.4 -93.6 -76.7 -65.1
Off-Budget.................... 67.0 73.9 76.4 87.3 96.2 103.1 109.5 115.6 122.0 135.1 139.4 147.4
--------------------------------------------------------------------------------------------------------------------------------------------------------
As percentages of GDP
Outlays......................... 20.8 20.8 20.5 20.4 20.1 19.4 18.9 19.0 18.8 18.6 18.4 18.3
Receipts........................ 19.4 19.2 19.1 19.1 19.1 19.0 19.0 19.0 18.9 19.0 18.9 18.9
-----------------------------------------------------------------------------------------------------------------------
Deficit/Surplus:
Unified....................... -1.4 -1.6 -1.5 -1.4 -1.0 -0.4 0.2 * 0.2 0.4 0.5 0.6
On-Budget..................... -2.3 -2.5 -2.4 -2.4 -2.0 -1.5 -0.9 -1.1 -1.0 -0.8 -0.6 -0.5
Off-Budget.................... 0.9 0.9 0.9 1.0 1.1 1.1 1.1 1.1 1.1 1.2 1.2 1.2
--------------------------------------------------------------------------------------------------------------------------------------------------------
* 0.05 percent or less.
[[Page 305]]
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
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
[[Page 306]]
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.............................................. 666,499 851,888 -185,388 500,424 686,074 -185,650 166,075 165,813 262
1985.............................................. 734,165 946,499 -212,334 547,994 769,692 -221,698 186,171 176,807 9,363
1986.............................................. 769,260 990,505 -221,245 569,031 807,007 -237,976 200,228 183,498 16,731
1987.............................................. 854,396 1,004,164 -149,769 640,994 810,332 -169,339 213,402 193,832 19,570
1988.............................................. 909,303 1,064,489 -155,187 667,812 861,798 -193,986 241,491 202,691 38,800
1989.............................................. 991,190 1,143,671 -152,481 727,525 932,760 -205,235 263,666 210,911 52,754
1990.............................................. 1,031,969 1,253,163 -221,194 750,314 1,028,098 -277,784 281,656 225,065 56,590
1991.............................................. 1,055,041 1,324,400 -269,359 761,157 1,082,713 -321,557 293,885 241,687 52,198
1992.............................................. 1,091,279 1,381,681 -290,402 788,853 1,129,343 -340,489 302,426 252,339 50,087
1993.............................................. 1,154,401 1,409,414 -255,013 842,467 1,142,827 -300,360 311,934 266,587 45,347
1994.............................................. 1,258,627 1,461,731 -203,104 923,601 1,182,359 -258,758 335,026 279,372 55,654
1995.............................................. 1,351,830 1,515,729 -163,899 1,000,751 1,227,065 -226,314 351,079 288,664 62,415
1996.............................................. 1,453,062 1,560,330 -107,268 1,085,570 1,259,872 -174,302 367,492 300,458 67,034
1997 est.......................................... 1,505,425 1,631,016 -125,591 1,116,522 1,316,014 -199,492 388,903 315,002 73,901
1998 est.......................................... 1,566,842 1,687,475 -120,633 1,161,898 1,358,896 -196,998 404,944 328,579 76,365
1999 est.......................................... 1,643,320 1,760,700 -117,380 1,218,124 1,422,832 -204,708 425,196 337,868 87,328
2000 est.......................................... 1,727,304 1,814,427 -87,123 1,280,408 1,463,751 -183,343 446,896 350,676 96,220
2001 est.......................................... 1,808,347 1,844,488 -36,141 1,340,730 1,479,969 -139,239 467,617 364,519 103,098
2002 est.......................................... 1,896,686 1,879,717 16,969 1,406,821 1,499,370 -92,549 489,865 380,347 109,518
--------------------------------------------------------------------------------------------------------------------------------------------------------
* $500 thousand or less.
========================================================================
========================================================================
[[Page 309]]
1998 BUDGET PROPOSALS
Table S-4. SUMMARY OF BUDGET PROPOSALS
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate Total
------------------------------------------------------------ 1998-
1997 1998 1999 2000 2001 2002 2002
----------------------------------------------------------------------------------------------------------------
Current services deficit................. 127.7 119.5 140.1 127.6 108.5 100.8
Programmatic changes:
Revenues:
Tax relief........................... 1.4 17.9 16.2 19.6 21.9 22.8 98.4
Eliminate unwarranted benefits and
other............................... -3.0 -10.9 -14.9 -15.9 -16.4 -17.9 -76.0
----------------------------------------------------------------------
Total, revenues.................... -1.6 7.0 1.4 3.7 5.5 4.9 22.4
Discretionary Programs:
Defense.............................. -0.7 -5.3 -14.6 -14.4 -21.9 -23.2 -79.5
Nondefense........................... * -0.6 -3.3 -8.3 -18.8 -27.0 -58.0
----------------------------------------------------------------------
Total, discretionary programs...... -0.7 -5.9 -17.8 -22.7 -40.7 -50.2 -137.4
Mandatory Programs:
Medicare............................ ........ -4.3 -11.4 -22.2 -27.8 -34.6 -100.2
Medicaid:
New initiatives.................... * 1.2 2.0 2.6 3.4 3.9 13.2
Savings proposals.................. ........ 0.2 -1.6 -4.1 -7.3 -9.7 -22.4
----------------------------------------------------------------------
Net savings, Medicaid............ * 1.4 0.4 -1.4 -3.9 -5.8 -9.3
Spectrum auction receipts............ ........ -2.1 -1.8 -3.8 -6.3 -22.1 -36.1
Other mandatory programs............. 0.2 5.1 7.2 8.0 5.4 -1.4 24.3
----------------------------------------------------------------------
Total, mandatory programs.......... 0.3 0.1 -5.6 -19.4 -32.6 -63.8 -121.2
Total, programmatic changes.............. -2.0 1.2 -22.0 -38.4 -67.8 -102.2 -236.3
Debt service........................... -0.1 -0.1 -0.7 -2.1 -4.5 -8.5 -15.9
----------------------------------------------------------------------
Total, proposals......................... -2.1 1.1 -22.7 -40.5 -72.3 -117.7 -252.1
Resulting deficit/surplus (-)............ 125.6 120.6 117.4 87.1 36.1 -17.0
----------------------------------------------------------------------------------------------------------------
* $50 million or less.
[[Page 310]]
Table S-5. CURRENT SERVICES AND PROPOSED DISCRETIONARY SPENDING LEVELS
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate Total,
------------------------------------------------ 1998-
1997 1998 1999 2000 2001 2002 2002
----------------------------------------------------------------------------------------------------------------
Current Services Baseline:
Defense Discretionary............... BA 265.8 273.6 281.8 290.2 298.9 307.8 1,452.3
OL 268.7 265.4 276.7 282.2 290.5 297.1 1,411.9
Non-Defense Discretionary........... BA 242.9 257.8 269.2 279.2 288.9 298.8 1,393.8
OL 282.0 288.0 298.7 304.4 311.3 320.3 1,522.6
-------------------------------------------------------------------------
Total current services............ BA 508.8 531.4 551.0 569.4 587.7 606.6 2,846.1
OL 550.7 553.4 575.4 586.6 601.8 617.4 2,934.5
Proposed Levels:
Defense Discretionary............... BA 263.1 266.0 269.8 275.5 282.0 289.8 1,383.1
OL 268.0 260.1 262.1 267.7 268.6 273.9 1,332.4
Non-Defense Discretionary.......... BA 242.7 264.5 265.6 267.0 267.4 270.8 1,335.3
OL 282.1 287.3 295.4 296.2 292.5 293.3 1,464.7
-------------------------------------------------------------------------
Total discretionary proposals \1\ BA 505.8 530.5 535.4 542.5 549.4 560.7 2,718.4
OL 550.1 547.5 557.5 563.9 561.0 567.2 2,797.1
Discretionary savings from current
services baseline:
Defense Discretionary............... BA -2.8 -7.6 -11.9 -14.7 -16.9 -18.1 -69.2
OL -0.7 -5.3 -14.6 -14.4 -21.9 -23.2 -79.5
Non-Defense Discretionary.......... BA -0.2 6.7 -3.7 -12.1 -21.4 -28.0 -58.5
OL 0.0 -0.6 -3.3 -8.3 -18.8 -27.0 -58.0
-------------------------------------------------------------------------
Total savings.................... BA -3.0 -0.9 -15.6 -26.8 -38.3 -46.0 -127.7
OL -0.7 -5.9 -17.8 -22.7 -40.7 -50.2 -137.4
----------------------------------------------------------------------------------------------------------------
\1\ The budget proposes a five-year budget resolution by function, from 1998 through 2002, consistent with the
level of discretionary spending assumed in the budget, which achieves balance in 2002.
[[Page 311]]
Table S-6. MANDATORY BUDGET PROPOSALS BY PROGRAM
(In millions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate
---------------------------------------------------------- Total
1997 1998 1999 2000 2001 2002 1998-2002
----------------------------------------------------------------------------------------------------------------
Preserve Medicare.......................... ....... -4,310 -11,390 -22,150 -27,820 -34,550 -100,220
Strengthen Medicaid:
Savings proposals........................ ....... 205 -1,597 -4,059 -7,313 -9,666 -22,430
New initiatives:
Children's health initiatives.......... ....... 344 587 934 1,362 1,530 4,757
Welfare reform proposals............... 39 619 793 975 1,194 1,315 4,896
Effects of other mandatory proposals... ....... 249 629 736 873 1,038 3,525
--------------------------------------------------------------------
Subtotal, new initiatives................ 39 1,212 2,009 2,645 3,429 3,883 13,178
--------------------------------------------------------------------
Net savings, Medicaid...................... 39 1,417 412 -1,414 -3,884 -5,783 -9,252
Spectrum:
Broaden and extend non-broadcast auctions ....... -1,400 -1,800 -3,800 -4,500 -5,600 -17,100
Auction analog broadcast................. ....... ....... ........ ........ ........ -14,800 -14,800
Auction 888 phone numbers................ ....... -700 ........ ........ ........ ........ -700
Auction a portion of the broadcast
channels 60-69.......................... ....... ....... ........ ........ -1,800 -1,700 -3,500
--------------------------------------------------------------------
Subtotal, Spectrum......................... ....... -2,100 -1,800 -3,800 -6,300 -22,100 -36,100
Other mandatory:
Agriculture:
Amend Welfare Reform Food Stamps
provisions............................ 362 836 659 600 405 835 3,335
Shift fund for Rural America from 2000
to 1998 to correct a drafting error... ....... 25 40 ........ -30 -25 10
Enhance the farm income ``safety net''. ....... -21 -2 -2 ........ ........ -25
Use certain Forest Service fees to
protect forest ecosystems............. ....... ....... ........ ........ ........ ........ .........
Have beneficiaries of marketing orders
pay administrative costs.............. ....... -10 -11 -11 -11 -11 -54
--------------------------------------------------------------------
Subtotal, Agriculture.................... 362 830 686 587 364 799 3,266
Commerce:
Extend surcharge on patent fees........ ....... ....... -119 -119 -119 -119 -476
Defense:
Sell from National Defense Stockpile... ....... ....... ........ ........ ........ -200 -200
Education:
Student loans:
Reduce payments to lenders,
restructure guaranty agencies and
recover Federal reserves, reduce
Federal administrative funding, and
reduce borrower fees................ -340 -1,050 -348 -226 -209 -1,294 -3,127
Improve third grade literacy......... ....... 31 212 284 331 380 1,238
Invest in school construction........ ....... 1,250 1,250 1,250 1,250 ........ 5,000
Repeal the mandatory appropriation
under the Smith-Hughes Act of 1918.. ....... -1 -7 -7 -7 -7 -29
--------------------------------------------------------------------
Subtotal, Education...................... -340 230 1,107 1,301 1,365 -921 3,082
Energy:
Lease excess Strategic petroleum
reserve storage space................. ....... ....... -14 -37 -67 -83 -201
Sell Weeks Island Strategic petroleum
reserve oil........................... ....... ....... ........ ........ ........ -1,145 -1,145
Sell or lease naval petroleum and oil
shale reserves........................ ....... ....... -10 2 2 2 -4
--------------------------------------------------------------------
Subtotal, Energy......................... ....... ....... -24 -35 -65 -1,226 -1,350
Health and Human Services:
Set annual targets to increase
permanent adoptions and establish a
financial bonus to states for
increasing adoptions \1\.............. ....... ....... ........ ........ ........ ........ .........
Permit States to spend HCFA initial
survey and certification fee (offset
under revenue)........................ ....... 10 10 10 10 10 50
Establish health insurance for the
families of workers in-between jobs... ....... 1,738 2,472 2,688 2,924 ........ 9,822
Establish purchasing cooperative grants ....... 25 25 25 25 25 125
[[Page 312]]
Expand health coverage for children.... ....... 750 750 750 750 750 3,750
--------------------------------------------------------------------
Subtotal, Health and Human Services...... ....... 2,523 3,257 3,473 3,709 785 13,747
Housing and Urban Development:
Replace FHA single family loan limits
with conforming limit................. ....... -206 -226 -222 -220 -224 -1,098
Reform FHA single family assignment.... ....... -164 -220 -182 -177 -171 -914
Retain receipts by proposing to lower
administrative expenses for FHA single
family assignment (non-paygo)......... ....... -33 -46 -60 -74 -89 -302
Undertake FHA portfolio reengineering:
Paygo................................ ....... -665 ........ ........ ........ ........ -665
Non-paygo............................ ....... 523 899 864 -888 -1,069 329
--------------------------------------------------------------------
Subtotal, Housing and Urban Development.. ....... -545 407 400 -1,359 -1,553 -2,650
Interior:
Extend and index hardrock mining
holding fees on public lands.......... ....... -1 -32 -33 -34 -35 -135
Establish hardrock mining royalties on
public domain lands (5 percent on net
smelter return)....................... ....... ....... -42 -63 -35 -35 -175
Charge sugar assessment for Everglades
restoration........................... ....... -18 -4 ........ ........ ........ -22
Impose Hetch Hetchy Dam (CA) rental
payments.............................. ....... -1 -1 -1 -1 -1 -5
Extend National Park Service fee
demonstration authority through 2002;
make all new receipts available to
parks \2\............................. ....... ....... ........ ........ ........ ........ .........
--------------------------------------------------------------------
Subtotal, Interior....................... ....... -20 -79 -97 -70 -71 -337
Labor:
Increase Federal Unemployment Trust
Fund ceilings (net of administrative
distribution to the States)........... ....... ....... ........ -200 -200 -200 -600
Extend the NAFTA Transitional
Adjustment Assistance program......... ....... ....... 26 43 48 50 167
Move 1 million welfare recipients into
jobs by 2000.......................... ....... 600 975 1,000 400 25 3,000
Reduce unemployment compensation
payments from increased attention to
integrity activities in State
unemployment insurance operations (non-
paygo)................................ ....... -118 -158 -160 -162 -165 -763
Improve management of Workers'
Compensation benefits (non-paygo)..... ....... 4 -20 -41 -49 -44 -150
--------------------------------------------------------------------
Subtotal, Labor.......................... ....... 486 823 642 37 -334 1,654
State:
Delay foreign service retirement COLA.. ....... -4 -4 -4 -4 -4 -20
Transportation:
Extend vessel tonnage fees............. ....... ....... -62 -62 -62 -62 -248
Convert Boat Safety State Grant program
to mandatory.......................... ....... 15 27 35 35 35 147
Transform St. Lawrence Seaway
Development Corporation into a
Performance Based Organization........ ....... 11 12 13 13 13 62
Decrease Federal-aid highways minimum
allocation............................ ....... 15 56 35 -22 -82 2
Sell Governor's Island................. ....... ....... ........ ........ ........ -500 -500
Sell Union Station air rights.......... ....... ....... ........ ........ ........ -40 -40
--------------------------------------------------------------------
Subtotal, Transportation................. ....... 41 33 21 -36 -636 -577
Treasury:
Charge vendors for the cost of making
payments by paper check............... ....... -15 -10 -5 -5 -5 -40
Provide funding for job training
assistance for Puerto Rico............ ....... ....... 67 167 286 424 944
--------------------------------------------------------------------
Subtotal, Treasury....................... ....... -15 57 162 281 419 904
Veterans:
Move medical care existing collections
to discretionary...................... ....... 468 309 356 403 452 1,988
[[Page 313]]
Compensation and Pensions:
Extend rounding down for compensation
COLA................................ ....... -17 -38 -60 -76 -95 -286
Extend income verification of pension
beneficiaries....................... ....... ....... -10 -23 -36 -51 -120
Limit pension benefits to Medicaid-
eligible beneficiaries in nursing
homes \3\........................... ....... ....... -506 -516 -530 -541 -2,093
Housing:
Enable VA to use Federal salary and
tax refund offset to collect on
deficiency balances for defaulted
loans guaranteed prior to 1990...... ....... -127 ........ ........ ........ ........ -127
Extend three provisions that maintain
higher loan fees and reduce resale
losses on foreclosed properties..... ....... ....... -204 -198 -197 -192 -791
Increase fees for non-veterans in the
home loan program to match FHA...... ....... -25 -26 -26 -26 -27 -130
Permanently extend loan asset sale
enhancement authority............... ....... -4 -4 -5 -5 -4 -22
--------------------------------------------------------------------
Subtotal, Veterans....................... ....... 295 -479 -472 -467 -458 -1,581
District of Columbia:
Assume liabilities of the DC pension
system................................ ....... 422 425 451 479 506 2,283
Receive reimbursement from DC pension
system assets......................... ....... -422 -425 -451 -479 -506 -2,283
--------------------------------------------------------------------
Subtotal, District of Columbia........... ....... ....... ........ ........ ........ ........ .........
Environmental Protection Agency:
Provide funding for Superfund orphan
shares................................ ....... 142 162 184 192 200 880
Federal Deposit Insurance Corporation:
Collect state bank exam fees (net of
premium reduction).................... ....... -79 -82 161 ........ ........ .........
Federal Trade Commission:
Increase Hart-Scott Rodino merger
filing fees........................... ....... -70 -70 -70 -70 -70 -350
Japan-United State Friendship Commission:
Privatize the Japan/United State
Friendship Commission................. ....... 37 ........ ........ ........ ........ 37
Office of Personnel Management:
Delay civilian retirement COLA......... ....... -274 -281 -289 -297 -305 -1,446
Increase agency contributions to CSRS
(non-paygo)........................... ....... -621 -604 -588 -577 -567 -2,957
--------------------------------------------------------------------
Subtotal, Office of Personnel Management. ....... -895 -885 -877 -874 -872 -4,403
Postal Service:
Repeal Workers' Compensation
Reimbursement to the United States
Postal Service:
Paygo................................ ....... -35 -33 -32 -30 -29 -159
Non-paygo............................ ....... 35 8 ........ ........ ........ 43
--------------------------------------------------------------------
Subtotal, Postal Service................. ....... ....... -25 -32 -30 -29 -116
Railroad Retirement Board:
Conform railroad retirement Social
Security equivalent benefits with
Social Security....................... ....... 31 46 46 47 47 217
Social Security Administration:
Amend welfare reform provisions to
exempt disabled immigrants from
Supplemental Security Income
restrictions and extend eligibility
for refugees and asylees.............. 224 1,707 1,824 2,096 1,907 2,184 9,718
Test employment strategy for the
disabled:
Paygo................................ ....... -4 -4 -4 -3 -3 -18
Non-paygo............................ ....... ....... -5 1 7 13 16
--------------------------------------------------------------------
Subtotal, test employment strategy for
the disabled.......................... ....... -4 -9 -3 4 10 -2
--------------------------------------------------------------------
Subtotal, Social Security Administration. 224 1,703 1,815 2,093 1,911 2,194 9,716
[[Page 314]]
Undistributed Offsetting Receipts:
Effects of lower pay raise impact on
agency payments to the civilian
service retirement trust fund (non-
paygo)................................ ....... 436 602 630 664 701 3,033
Other proposals:
Other paygo proposals.................. ....... 1 1 1 1 1 5
Other non-paygo proposals (largely
effects of pay raise)................. ....... ....... -10 -35 -48 -63 -156
--------------------------------------------------------------------
Subtotal, other mandatory outlay proposals. 246 5,127 7,219 7,960 5,429 -1,410 24,325
Total, mandatory outlay proposals.......... 285 134 -5,559 -19,404 -32,575 -63,843 -121,247
Non-paygo................................ ....... 226 666 611 -1,127 -1,283 -907
Paygo:...................................
Mandatory.............................. 285 -92 -6,225 -20,015 -31,448 -62,560 -120,340
Paygo funding of discretionary spending
that requires adjusting the
discretionary caps (see below)........ ....... 971 5,137 6,564 7,195 7,592 27,459
--------------------------------------------------------------------
Total, paygo proposals................... 285 879 -1,088 -13,451 -24,253 -54,968 -92,881
Paygo funding of discretionary spending
funded by governmental receipts that
requires adjusting the discretionary caps:
HHS:.....................................
Increase spending from Food and Drug
Administration user fees.............. ....... 237 252 267 282 297 1,335
Labor:
Increase spending from alien labor
certification fee..................... ....... 25 50 50 50 50 225
State:
Increase spending from State
immigration, passport and other fees.. ....... 506 566 589 595 595 2,851
Transportation:
Increase spending from aviation fees... ....... 198 4,263 5,653 6,263 6,645 23,022
National Transportation and Safety Board:
Increase spending from user fees....... ....... 5 6 5 5 5 26
--------------------------------------------------------------------
Total, paygo funding of discretionary
spending funded by governmental receipts
that requires adjusting the discretionary
caps...................................... ....... 971 5,137 6,564 7,195 7,592 27,459
MEMORANDUM
Welfare Reform proposals included above:
Medicaid................................. 39 619 793 975 1,194 1,315 4,896
Agriculture: Food Stamps................. 362 836 659 600 405 835 3,335
Social Security Administration:
Supplementary Security Income........... 224 1,707 1,824 2,096 1,907 2,184 9,718
--------------------------------------------------------------------
Total, Welfare Reform proposals.......... 625 3,162 3,276 3,671 3,506 4,334 17,949
----------------------------------------------------------------------------------------------------------------
Note: All savings are paygo, unless otherwise stated.
\1\ The budget includes a proposal to pay incentive payments to States that increase adoptions from the foster
care system. The budget assumes incentive payments of up to $108 million over 1999-2002 for these payments. It
is anticipated that reduced foster care payments would offset the outlays from any incentives paid.
\2\ Also affects Bureau of Land Management, Fish and Wildlife Services, and Forest Service. Current proposal
would make available all new receipts to the collections agency (no net savings).
\3\ Net Government savings is $300 million less annually because of offsetting costs to the Medicaid program.
[[Page 315]]
Table S-7. EFFECT OF PROPOSALS ON RECEIPTS
(In millions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate Total
------------------------------------------------------------ 1998-
1997 1998 1999 2000 2001 2002 2002
----------------------------------------------------------------------------------------------------------------
Provide tax relief and extend expiring
provisions:
Middle Class Bill of Rights:
Provide tax credit for dependent
children............................. -718 -9,889 -6,806 -8,552 -10,387 -10,369 -46,003
Expand Individual Retirement Accounts
(IRAs)............................... ........ -1,454 -477 -753 -1,157 -1,674 -5,515
Provide tax incentive for education
and training......................... -84 -4,044 -6,199 -7,848 -8,632 -9,386 -36,109
---------------------------------------------------------------------
Subtotal, Middle Class Bill of
Rights............................. -802 -15,387 -13,482 -17,153 -20,176 -21,429 -87,627
Provide targeted welfare-to-work tax
credit............................... ........ -68 -137 -163 -122 -61 -551
Provide capital gains exclusion on
sale of principal residence.......... -71 -288 -301 -284 -268 -249 -1,390
Establish DC tax incentive program.... ........ -24 -46 -56 -66 -68 -260
Provide estate tax relief for small
business............................. ........ -1 -164 -166 -174 -182 -687
Provide tax incentives for distressed
areas................................ -40 -424 -500 -502 -469 -410 -2,305
Provide tax credit for investment in
community development financial
institutions (CDFI).................. ........ -2 -5 -7 -9 -11 -34
Toll statute of limitations for
incapacitated taxpayers.............. ........ ........ ........ ........ -6 -49 -55
Allow Foreign Sales Corporation (FSC)
benefits for computer software
licenses............................. -10 -90 -100 -110 -120 -130 -550
Extend exclusion for employer-provided
educational assistance............... -82 -645 -670 -758 -247 ........ -2,320
Extend R&E tax credit................. -430 -787 -540 -234 -111 -41 -1,713
Extend orphan drug tax credit......... -8 -19 -12 -3 -3 -1 -38
Extend work opportunity tax credit.... ........ -128 -157 -93 -31 -10 -419
Extend deduction for contributions of
appreciated stock.................... ........ -34 -38 ........ ........ ........ -72
Extend and modify Puerto Rico economic-
activity tax credit.................. ........ -27 -68 -91 -109 -122 -417
---------------------------------------------------------------------
Subtotal, Provide tax relief and
extend expiring provisions......... -1,443 -17,924 -16,220 -19,620 -21,911 -22,763 -98,438
Eliminate unwarranted benefits and adopt
other revenue measures:
Deny interest deduction on certain debt
instruments............................ 15 52 103 158 213 271 797
Defer original issue discount deduction
on convertible debt.................... ........ 12 21 32 43 52 160
Limit dividends-received deduction
(DRD):
Reduce DRD to 50 percent.............. ........ 255 339 354 370 387 1,705
Eliminate DRD for certain stock....... ........ 13 23 36 49 63 184
Modify holding period for DRD......... ........ 36 26 27 28 29 146
Interaction........................... ........ -8 -8 -8 -9 -9 -42
Extend pro-rata disallowance of tax-
exempt interest to all corporations.... ........ 16 31 45 56 65 213
Require average-cost basis for stocks,
securities, etc........................ ........ 638 601 594 589 589 3,011
Require recognition of gain on certain
stocks, indebtedness and partnership
interests.............................. ........ 38 61 65 71 76 311
Change the treatment of gains and losses
on extinguishment...................... ........ 6 6 6 7 7 32
Require reasonable payment assumptions
for interest accruals on certain debt
instruments............................ ........ 79 234 288 289 207 1,097
Require gain recognition for certain
extraordinary dividends................ 401 586 6 11 17 23 643
Repeal percentage depletion for non-fuel
minerals mined on Federal and formerly
Federal lands.......................... 8 89 92 94 96 97 468
Modify loss carryback and carryforward
rules.................................. 5 144 617 798 690 629 2,878
Treat certain preferred stock as
``boot''............................... 25 145 163 172 180 144 804
Repeal tax free conversions of large C
corporations to S corporations......... ........ 1 12 26 35 45 119
[[Page 316]]
Require gain recognition in certain
distributions of controlled corporation
stock.................................. 10 62 67 71 73 76 349
Reform treatment of certain stock
transfers.............................. 31 114 127 137 146 155 679
Expand subpart F provisions regarding
certain income......................... ........ 19 34 39 44 48 184
Modify taxation of captive ``insurance''
companies.............................. ........ 26 18 13 7 4 68
Modify foreign tax credit carryback and
carryforward rules..................... ........ 50 263 340 293 275 1,221
Replace sales source rules with activity-
based rules............................ ........ 891 1,474 1,555 1,750 1,855 7,525
Modify rules relating to foreign oil and
gas extraction income.................. ........ 4 59 97 104 107 371
Phase out preferential tax deferral for
certain large farm corporations
required to use accrual accounting..... 28 136 121 124 124 124 629
Initiate Inventory reform:
Repeal lower of cost or market method. 20 213 351 372 378 179 1,493
Repeal components of cost method...... 39 130 178 187 196 204 895
Expand requirement that involuntarily
converted property be replaced with
property acquired from an unrelated
party.................................. ........ 2 4 5 8 10 29
Place further restrictions on like-kind
exchanges involving personal property.. 2 7 12 17 23 29 88
Require registration of certain
corporate tax shelters................. ........ 1 3 2 2 2 10
Require reporting of payments to
corporations rendering service to
Federal agencies....................... ........ 1 7 21 45 77 151
Increase penalties for failure to file
correct information returns............ ........ 3 16 21 24 26 90
Tighten substantial understatement
penalty for large corporations......... ........ 24 40 41 35 29 169
Repeal exemption for withholding on
gambling winnings from bingo and keno
in excess of $5,000.................... 1 17 4 1 1 1 24
Require tax reporting for payments to
attorneys.............................. ........ ........ 3 3 2 2 10
Extend oil spill excise tax \1\......... 26 222 224 228 230 231 1,135
Impose excise taxes on kerosene as
diesel fuel \1\........................ 4 35 33 31 30 30 159
Limit extension of tax credit for
producing fuel from a nonconventional
source................................. 14 64 96 99 101 102 462
Extend and modify FUTA provisions:
Extend FUTA surtax \1\................ ........ ........ 862 1,218 1,295 1,333 4,708
Accelerate deposit of unemployment
insurance taxes...................... ........ ........ ........ ........ ........ 1,320 1,320
---------------------------------------------------------------------
Subtotal, Eliminate unwarranted
benefits........................... 629 4,123 6,323 7,320 7,635 8,894 34,295
Other provisions that affect receipts:
Extend corporate environmental tax \2\.. ........ 1,095 732 767 785 803 4,182
Extend Superfund excise taxes \1\....... 110 661 675 687 697 708 3,428
Extend LUST excise taxes \1\............ 16 120 126 128 131 134 639
Extend aviation excise taxes/new user
fee \1\, \3\........................... 2,291 5,017 6,678 6,647 6,824 7,007 32,173
Extend GSP and modify other trade
provisions \1\......................... ........ -665 -509 -648 -732 -771 -3,325
Assess fees for examination of FDIC-
insured banks and bank holding
companies (receipt effect) \1\......... ........ 72 75 78 82 86 393
Modify method of reimbursing Federal
Reserve Banks (receipt effect)......... ........ 122 125 129 132 136 644
Establish IRS continuous levy........... ........ 402 398 364 269 212 1,645
Assess fees for NTSB aviation accident
investigation activities \1\........... ........ 5 5 5 5 5 25
Establish alien labor certification fee
\1\.................................... ........ 19 37 37 37 37 167
Exempt Federal vaccine purchases from
the payment of vaccine excise taxes \1\ ........ -72 ........ ........ ........ ........ -72
Extend and increase FDA user fees \1\... ........ 178 189 200 211 223 1,001
Initiate HCFA Medicare survey and
certification fee \1\.................. ........ 7 7 7 7 7 35
[[Page 317]]
Increase employee contributions to CSRS
and FERS............................... ........ ........ 214 423 571 621 1,829
Adjust Federal pay raise (receipt
effect)................................ ........ -164 -216 -213 -212 -212 -1,017
---------------------------------------------------------------------
Subtotal, Other provisions............ 2,417 6,797 8,536 8,611 8,807 8,996 41,747
---------------------------------------------------------------------
Subtotal, Eliminate unwarranted
benefits and other provisions that
affect receipts...................... 3,046 10,920 14,859 15,931 16,442 17,890 76,042
=====================================================================
Total effect of proposals \1\......... 1,603 -7,004 -1,361 -3,689 -5,469 -4,873 -22,396
(Paygo proposals) \1\............... 1,603 -6,890 -1,270 -3,605 -5,389 -4,797 -21,951
(Non-Paygo proposals) \1\........... ........ -114 -91 -84 -80 -76 -445
----------------------------------------------------------------------------------------------------------------
\1\ Net of income offsets.
\2\ Net of deductibility for income tax purposes.
\3\ The aviation excise taxes are proposed to be reinstated effective April 1, 1997. In addition, the
Administration proposes that aviation excise taxes be repealed effective October 1, 1998 and replaced with
cost-based user fees.
[[Page 318]]
Table S-8. SUMMARY OF SUPPLEMENTAL AND RESCISSION PROPOSALS
(In millions of dollars)
----------------------------------------------------------------------------------------------------------------
Budget Authority Outlays
----------------------------------------------------------------------------
1997 1998 1999 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Supplemental Increases in
Discretionary Programs:
Department of Agriculture........ 106 ...... ...... 91 9 ....... ...... ...... ......
Department of Defense............ 2,098 ...... ...... 1,572 404 71 ...... ...... ......
Department of Housing and Urban
Development..................... 30 ...... ...... ....... 3 21 6 ...... ......
Department of Labor.............. ........ ...... ...... -45 30 ....... 15 ...... ......
Department of State.............. ........ ...... 921 ....... ....... 921 ...... ...... ......
Department of Transportation..... ........ ...... ...... 47 168 52 15 9 8
Other Independent Agencies....... 20 ...... ...... 18 2 ....... ...... ...... ......
----------------------------------------------------------------------------
Subtotal, Supplemental Increases
in Discretionary Programs....... 2,254 ...... 921 1,683 616 1,065 36 9 8
Decreases in Discretionary
Programs:
Department of Agriculture........ -50 ...... ...... -28 -18 -3 ...... ...... ......
Department of Defense............ -4,872 ...... ...... -2,314 -1,333 -825 ...... ...... ......
Corps of Engineers--Civil........ -50 ...... ...... -30 -20 ....... ...... ...... ......
Department of Housing and Urban
Development..................... -280 ...... ...... -16 -33 -47 -40 -37 -33
----------------------------------------------------------------------------
Subtotal, Decreases in
Discretionary Programs.......... -5,252 ...... ...... -2,388 -1,404 -875 -40 -37 -33
Supplemental Increases in Mandatory
Programs:
Department of Transportation..... 4 ...... ...... 4 ....... ....... ...... ...... ......
Department of Veterans Affairs... 753 ...... ...... 753 ....... ....... ...... ...... ......
----------------------------------------------------------------------------
Subtotal, Supplemental Increases
in Mandatory Programs........... 757 ...... ...... 757 ....... ....... ...... ...... ......
============================================================================
Total, All Proposals........... -2,241 ...... 921 52 -788 190 -4 -28 -25
----------------------------------------------------------------------------------------------------------------
[[Page 319]]
Table S-9. DISCRETIONARY PROPOSALS BY APPROPRIATIONS SUBCOMMITTEE
(In millions of dollars)
----------------------------------------------------------------------------------------------------------------
1996 Enacted 1997 Estimate 1998 Proposed Change: 1997 to
------------------------------------------------------------ 1998
Appropriations Subcommittee -------------------
BA Outlays BA Outlays BA Outlays BA Outlays
----------------------------------------------------------------------------------------------------------------
General Purpose Discretionary
Agriculture and Rural
Development.................... 13,776 13,672 13,644 14,480 13,839 13,889 195 -591
Commerce, Justice, State, and
the Judiciary.................. 23,876 23,962 25,191 25,232 26,362 26,455 1,171 1,223
National Security............... 242,556 243,254 238,967 242,835 243,290 238,581 4,323 -4,254
District of Columbia............ 712 712 719 719 770 532 51 -187
Energy and Water Development.... 19,624 21,603 19,919 21,275 23,000 19,677 3,081 -1,598
Foreign Operations.............. 12,331 12,600 12,244 13,194 16,846 13,165 4,602 -29
Interior and Related Agencies... 12,808 13,294 12,751 13,628 13,107 13,520 356 -108
Labor, HHS, and Education....... 67,183 67,895 74,346 73,114 79,602 75,641 5,256 2,527
Legislative..................... 2,121 2,161 2,169 2,247 2,386 2,373 217 126
Military Construction........... 11,150 10,511 9,984 10,920 8,383 9,521 1,601 -1,399
Transportation and Related
Agengies....................... 12,573 35,916 12,735 35,505 12,416 35,729 -319 224
Treasury, Postal Service and
General Government............. 11,444 11,594 12,054 12,213 13,057 12,520 1,003 307
Veterans Affairs, HUD, and
Independent Agencies........... 68,211 75,939 64,280 80,457 71,921 80,575 7,641 118
-------------------------------------------------------------------------------
Subtotal, General Purpose
Discretionary................ 498,366 533,114 499,004 545,820 524,980 542,178 25,976 -3,642
Violent Crime Reduction Trust
Fund (VCRTF)
Commerce, Justice, State, and
the Judiciary.................. 3,956 1,175 4,525 2,508 5,238 4,705 713 2,197
Labor, HHS, and Education....... 53 26 61 47 144 76 83 29
Treasury, Postal Service, and
General Government............. 77 55 84 81 118 102 34 21
-------------------------------------------------------------------------------
Subtotal, VCRTF............... 4,086 1,256 4,670 2,636 5,500 4,883 830 2,247
===============================================================================
Total, Discretionary........ 502,452 534,370 503,674 548,456 530,479 547,061 26,805 -1,395
----------------------------------------------------------------------------------------------------------------
Memorandum: Amounts Excluded
From Budget Resolution
Allocations And Not Included
Above
National Security............... ........ ........ 2,078 1,567 ........ 399 ........ ........
Transportation and Related
Agencies....................... ........ ........ 20 18 ........ 2 ........ ........
-------------------------------------------------------------------------------
Total, Supplemental Requests
for Emergency Funding........ ........ ........ 2,098 1,585 ........ 401 ........ ........
----------------------------------------------------------------------------------------------------------------
========================================================================
========================================================================
[[Page 323]]
SUMMARIES BY AGENCY
Table S-10. DISCRETIONARY BUDGET AUTHORITY BY AGENCY
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate
Agency 1996 -----------------------------------------------------
Actual 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Legislative Branch............................... 2.2 2.2 2.4 2.4 2.5 2.5 2.5
The Judiciary.................................... 2.8 3.0 3.4 3.5 3.6 3.7 3.8
Executive Office Of the President................ 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Funds Appropriated to the President.............. 10.8 10.8 15.6 11.9 11.8 11.4 11.3
Agriculture...................................... 15.3 15.3 15.1 15.2 15.4 15.5 15.8
Commerce......................................... 3.7 3.8 4.2 4.9 6.1 4.0 4.0
Defense--Military................................ 253.6 250.9 251.6 257.2 263.5 270.3 278.4
Defense--Civil................................... 3.4 3.5 3.8 3.4 3.4 3.4 3.4
Education........................................ 21.4 26.2 29.1 29.8 30.5 31.1 31.5
Energy........................................... 16.4 16.5 19.2 17.6 16.7 16.3 15.8
Health and Human Services........................ 33.2 34.1 36.3 36.6 36.8 37.1 37.4
Housing and Urban Development.................... 21.7 19.3 24.8 28.4 30.3 31.7 33.0
Interior......................................... 7.1 6.9 7.4 7.4 7.6 7.5 7.5
Justice.......................................... 14.6 16.3 17.1 17.8 16.8 17.0 17.5
Labor............................................ 9.4 10.2 10.8 10.6 10.6 10.7 10.9
State............................................ 4.7 4.8 5.1 5.8 4.9 5.0 5.0
Transportation................................... 12.7 12.8 12.5 13.7 13.9 14.1 14.3
Treasury......................................... 10.4 10.6 11.8 11.8 11.4 11.6 11.8
Veterans Affairs................................. 18.3 18.9 18.7 18.7 18.7 18.7 18.7
Environmental Protection Agency.................. 6.5 6.8 7.6 7.7 7.1 7.2 7.3
General Services Administration.................. 0.2 0.6 0.2 0.1 0.1 0.1 0.1
National Aeronautics and Space Administration.... 13.9 13.7 13.5 13.4 13.2 13.2 13.2
Office of Personnel Management................... 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Small Business Administration.................... 0.8 0.9 0.7 0.7 0.7 0.7 0.7
Social Security Administration................... 5.0 5.6 5.6 5.5 5.5 5.5 5.5
Other Independent Agencies....................... 14.0 11.7 13.6 10.8 10.9 10.7 10.7
--------------------------------------------------------------
Total............................................ 502.5 505.8 530.5 535.4 542.5 549.4 560.6
----------------------------------------------------------------------------------------------------------------
[[Page 324]]
Table S-11. DISCRETIONARY OUTLAYS BY AGENCY
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate
Agency 1996 -----------------------------------------------------
Actual 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Legislative Branch............................... 2.2 2.3 2.4 2.4 2.5 2.5 2.5
The Judiciary.................................... 2.9 3.1 3.3 3.5 3.6 3.6 3.7
Executive Office Of the President................ 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Funds Appropriated to the President.............. 11.4 11.8 11.9 11.7 11.8 11.6 11.6
Agriculture...................................... 15.1 16.2 15.2 15.2 15.2 15.4 15.6
Commerce......................................... 3.8 3.9 4.2 4.7 6.4 4.1 4.0
Defense--Military................................ 253.7 255.2 248.4 250.1 255.9 256.9 262.3
Defense--Civil................................... 3.8 3.7 3.5 3.4 3.4 3.4 3.4
Education........................................ 23.2 25.3 26.3 29.5 30.0 30.5 31.1
Energy........................................... 18.4 17.7 16.8 17.0 16.8 16.4 16.2
Health and Human Services........................ 32.3 34.0 35.4 36.3 36.7 36.9 37.2
Housing and Urban Development.................... 31.4 33.4 34.0 34.3 33.9 33.7 33.5
Interior......................................... 7.0 7.5 7.3 7.5 7.6 7.6 7.5
Justice.......................................... 11.5 13.5 16.6 18.0 18.4 17.9 17.6
Labor............................................ 9.6 10.1 10.5 10.5 10.5 10.6 10.7
State............................................ 4.5 5.1 5.1 5.8 4.9 5.0 5.0
Transportation................................... 36.3 35.9 36.0 36.1 36.1 36.4 36.8
Treasury......................................... 10.2 10.5 11.1 11.8 11.9 11.5 11.7
Veterans Affairs................................. 18.1 19.0 18.6 18.7 18.7 18.7 18.7
Environmental Protection Agency.................. 6.3 6.5 6.7 7.1 7.3 7.4 7.3
General Services Administration.................. 0.7 0.9 0.4 0.3 0.2 0.1 0.1
National Aeronautics and Space Administration.... 13.9 13.7 13.6 13.5 13.2 13.2 13.2
Office of Personnel Management................... 0.1 0.2 0.2 0.2 0.2 0.2 0.2
Small Business Administration.................... 0.9 0.8 0.8 0.7 0.7 0.7 0.7
Social Security Administration................... 4.6 5.6 5.7 5.6 5.6 5.5 5.5
Other Independent Agencies....................... 12.2 13.9 13.4 13.2 12.0 10.9 10.8
--------------------------------------------------------------
Total............................................ 534.4 550.0 547.5 557.5 563.9 561.0 567.2
----------------------------------------------------------------------------------------------------------------
[[Page 325]]
Table S-12. BUDGET AUTHORITY BY AGENCY
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate
Agency 1996 -----------------------------------------------------------------------
Actual 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Legislative Branch.......... 2.5 2.5 2.8 2.8 2.8 2.8 2.9
The Judiciary............... 3.2 3.4 3.8 3.9 4.0 4.1 4.2
Executive Office Of the
President.................. 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Funds Appropriated to the
President.................. 10.2 10.6 14.9 10.5 10.6 10.8 11.0
Agriculture................. 58.7 60.6 60.3 60.3 62.3 62.7 65.6
Commerce.................... 3.6 3.7 4.2 4.8 6.1 4.0 3.9
Defense--Military........... 254.4 250.0 250.7 256.3 262.8 269.6 277.5
Defense--Civil.............. 32.4 33.8 35.2 35.9 37.0 38.0 39.0
Education................... 29.1 29.4 39.5 36.4 37.0 37.7 37.4
Energy...................... 14.1 14.2 17.0 15.5 14.6 14.0 11.4
Health and Human Services... 318.5 357.3 370.0 396.3 414.3 439.2 463.1
Housing and Urban
Development................ 21.1 19.4 23.0 28.7 30.6 31.1 31.8
Interior.................... 7.2 7.1 7.3 7.3 7.4 7.3 7.3
Justice..................... 15.2 17.4 17.8 18.4 17.4 17.7 18.2
Labor....................... 33.4 34.4 37.5 39.0 40.3 40.3 41.5
State....................... 5.1 5.2 5.5 6.3 5.5 5.6 5.6
Transportation.............. 35.7 43.0 43.3 42.1 42.2 42.5 42.2
Treasury.................... 365.8 382.6 392.9 399.6 401.4 404.4 404.9
Veterans Affairs............ 38.7 39.4 41.1 41.6 42.1 42.6 43.1
Environmental Protection
Agency..................... 6.3 6.6 7.7 7.8 7.2 7.2 7.3
General Services
Administration............. 0.2 0.7 0.2 0.1 0.1 0.1 0.1
National Aeronautics and
Space Administration....... 13.9 13.7 13.5 13.4 13.2 13.2 13.2
Office of Personnel
Management................. 43.8 44.8 47.8 50.1 52.3 54.7 57.3
Small Business
Administration............. 1.1 0.9 0.7 0.7 0.7 0.7 0.7
Social Security
Administration............. 377.3 395.7 412.7 433.2 455.8 472.8 497.9
On-Budget................. (31.0) (35.3) (34.5) (37.7) (41.7) (38.4) (42.9)
Off-Budget................ (346.3) (360.3) (378.2) (395.5) (414.2) (434.4) (455.0)
Other Independent Agencies.. 24.3 27.0 25.8 23.5 28.4 30.4 31.9
On-Budget................. (20.9) (19.0) (20.9) (22.1) (27.2) (28.0) (28.6)
Off-Budget................ (3.4) (8.0) (5.0) (1.4) (1.2) (2.4) (3.3)
Undistributed Offsetting
Receipts................... -135.0 -150.5 -165.7 -157.4 -164.6 -173.8 -197.0
On-Budget................. (-92.2) (-102.8) (-113.4) (-100.5) (-103.1) (-107.5) (-125.6)
Off-Budget................ (-42.8) (-47.7) (-52.2) (-56.9) (-61.5) (-66.2) (-71.3)
===================================================================================
Total....................... 1,581.1 1,652.9 1,709.5 1,777.4 1,831.7 1,880.0 1,922.3
On-Budget................. (1,274.1) (1,332.3) (1,378.6) (1,437.3) (1,477.9) (1,509.4) (1,535.3)
Off-Budget................ (307.0) (320.6) (330.9) (340.1) (353.8) (370.6) (387.0)
----------------------------------------------------------------------------------------------------------------
[[Page 326]]
Table S-13. OUTLAYS BY AGENCY
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate
Agency 1996 -----------------------------------------------------------------------
Actual 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Legislative Branch.......... 2.3 2.5 2.8 2.7 2.7 2.8 2.8
The Judiciary............... 3.1 3.6 3.7 3.8 3.9 4.1 4.2
Executive Office Of the
President.................. 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Funds Appropriated to the
President.................. 9.7 9.7 10.2 10.4 10.6 10.5 10.6
Agriculture................. 54.3 57.0 58.8 58.0 59.7 59.7 61.6
Commerce.................... 3.7 3.8 4.1 4.6 6.2 4.0 3.9
Defense--Military........... 253.3 254.3 247.5 249.3 255.2 256.2 261.4
Defense--Civil.............. 32.5 33.9 34.8 35.8 36.9 38.0 39.0
Education................... 29.7 28.3 32.1 36.2 36.8 37.4 35.9
Energy...................... 16.2 15.4 14.6 14.9 14.6 14.1 11.8
Health and Human Services... 319.8 351.1 376.1 396.9 414.1 438.6 461.9
Housing and Urban
Development................ 25.5 29.9 32.3 32.9 32.4 30.2 29.6
Interior.................... 6.7 7.4 7.1 7.3 7.3 7.4 7.2
Justice..................... 12.0 14.5 17.4 18.7 19.1 18.5 18.2
Labor....................... 32.5 32.9 35.6 37.5 39.0 39.6 40.4
State....................... 5.0 5.5 5.5 6.3 5.5 5.5 5.6
Transportation.............. 38.8 38.4 38.5 38.5 38.4 38.4 38.2
Treasury.................... 364.6 380.6 390.4 397.8 400.2 402.5 402.8
Veterans Affairs............ 36.9 39.6 40.9 41.9 43.8 41.1 43.3
Environmental Protection
Agency..................... 6.0 6.3 6.7 7.1 7.4 7.4 7.3
General Services
Administration............. 0.7 1.2 0.5 0.3 0.2 0.1 0.1
National Aeronautics and
Space Administration....... 13.9 13.7 13.6 13.5 13.2 13.2 13.2
Office of Personnel
Management................. 42.9 44.8 46.5 48.6 50.7 53.0 55.7
Small Business
Administration............. 0.9 0.5 0.1 0.2 0.5 0.6 0.6
Social Security
Administration............. 375.2 395.9 413.0 432.0 454.0 470.9 495.9
On-Budget................. (31.4) (35.2) (36.3) (38.1) (41.7) (38.4) (42.9)
Off-Budget................ (343.9) (360.8) (376.7) (393.9) (412.4) (432.5) (453.0)
Other Independent Agencies.. 8.9 10.4 20.2 22.5 26.2 24.1 25.1
On-Budget................. (9.5) (8.5) (16.1) (21.7) (26.3) (25.8) (26.4)
Off-Budget................ (-0.6) (2.0) (4.1) (0.9) (-0.2) (-1.8) (-1.3)
Undistributed Offsetting
Receipts................... -135.0 -150.5 -165.7 -157.4 -164.6 -173.8 -197.0
On-Budget................. (-92.2) (-102.8) (-113.4) (-100.5) (-103.1) (-107.5) (-125.6)
Off-Budget................ (-42.8) (-47.7) (-52.2) (-56.9) (-61.5) (-66.2) (-71.3)
===================================================================================
Total....................... 1,560.3 1,631.0 1,687.5 1,760.7 1,814.4 1,844.5 1,879.7
On-Budget................. (1,259.9) (1,316.0) (1,358.9) (1,422.8) (1,463.8) (1,480.0) (1,499.4)
Off-Budget................ (300.5) (315.0) (328.6) (337.9) (350.7) (364.5) (380.3)
----------------------------------------------------------------------------------------------------------------
========================================================================
========================================================================
[[Page 329]]
OTHER SUMMARY TABLES
Table S-14. RECEIPTS BY SOURCE--SUMMARY
(In millions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate
Source 1996 -----------------------------------------------------------------------
Actual 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Individual income taxes..... 656,417 672,683 691,199 721,554 755,558 795,223 839,850
Corporation income taxes.... 171,824 176,199 189,662 199,555 212,046 220,521 227,844
Social insurance taxes and
contributions.............. 509,414 535,766 557,783 585,229 614,395 642,161 673,075
(On-budget)............... (141,922) (146,863) (152,839) (160,033) (167,499) (174,544) (183,210)
(Off-budget).............. (367,492) (388,903) (404,944) (425,196) (446,896) (467,617) (489,865)
Excise taxes................ 54,014 57,247 61,239 64,496 64,934 66,194 67,363
Estate and gift taxes....... 17,189 17,588 18,817 19,969 21,390 22,926 24,573
Customs duties.............. 18,670 17,328 18,307 18,469 19,617 20,523 21,988
Miscellaneous receipts...... 25,534 28,614 29,835 34,048 39,364 40,799 41,993
-----------------------------------------------------------------------------------
Total receipts............ 1,453,062 1,505,425 1,566,842 1,643,320 1,727,304 1,808,347 1,896,686
On-budget............... (1,085,570
) (1,116,522
) (1,161,898
) (1,218,124
) (1,280,408
) (1,340,730
) (1,406,821
)
Off-budget.............. (367,492) (388,903) (404,944) (425,196) (446,896) (467,617) (489,865)
----------------------------------------------------------------------------------------------------------------
[[Page 330]]
Table S-15. FEDERAL EMPLOYMENT IN THE EXECUTIVE BRANCH
(Civilian employment as measured by Full-Time Equivalents, in thousands)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Actual Estimate Change: 1993 base
1993 ------------------------------------------------------------ to 1998
Agency Base -------------------
1993 1994 1995 1996 1997 1998 FTE's Percent
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cabinet agencies:
Agriculture \1\............................................. 115.6 114.4 109.8 103.8 100.7 101.7 99.9 -15.8 -13.6%
Commerce.................................................... 36.7 36.1 36.0 35.3 33.8 34.9 38.3 +1.6 +4.3%
Defense-military functions.................................. 931.3 931.8 868.3 821.7 778.9 760.0 733.2 -198.1 -21.3%
Education................................................... 5.0 4.9 4.8 4.8 4.7 4.6 4.6 -0.5 -9.3%
Energy...................................................... 20.6 20.3 19.8 19.7 19.1 18.2 17.2 -3.4 -16.5%
Health and Human Services \1\............................... 65.0 66.1 62.9 59.3 57.2 57.6 57.6 -7.3 -11.3%
Social Security Administration.............................. 65.4 64.8 64.5 64.6 64.0 65.6 65.4 ........ ........
Housing and Urban Development............................... 13.6 13.3 13.1 12.1 11.4 11.4 11.0 -2.7 -19.6%
Interior.................................................... 79.3 78.1 76.3 72.0 66.7 70.6 71.4 -7.9 -10.0%
Justice..................................................... 99.4 95.4 95.3 97.9 103.8 113.3 121.8 +22.4 +22.5%
Labor....................................................... 18.3 18.0 17.5 16.8 16.0 16.6 17.1 -1.2 -6.5%
State....................................................... 26.0 25.6 25.2 23.9 22.9 23.2 23.2 -2.8 -10.8%
Transportation.............................................. 70.3 69.1 66.4 63.2 62.4 64.0 64.8 -5.5 -7.8%
Treasury.................................................... 166.1 161.1 157.3 157.5 151.1 148.3 148.1 -18.0 -10.8%
Veterans Affairs \1\........................................ 232.4 234.2 233.1 228.5 221.9 215.5 210.6 -21.8 -9.4%
Other agencies (excluding Postal Service):
Agency for International Development \1\.................... 4.4 4.1 3.9 3.6 3.4 3.1 3.0 -1.4 -31.9%
Corps of Engineers.......................................... 29.2 28.4 27.9 27.7 27.1 27.1 26.4 -2.8 -9.7%
Environmental Protection Agency............................. 18.6 17.9 17.6 17.5 17.2 18.0 18.3 -0.3 -1.6%
EEOC........................................................ 2.9 2.8 2.8 2.8 2.7 2.7 2.7 -0.2 -6.2%
FEMA........................................................ 2.7 4.0 4.9 4.6 4.7 5.0 4.7 +1.9 +70.5%
FDIC/RTC.................................................... 21.6 21.9 20.0 15.7 11.8 9.4 7.8 -13.8 -64.0%
General Services Administration............................. 20.6 20.2 19.5 17.0 15.7 14.9 14.4 -6.2 -30.2%
NASA........................................................ 25.7 24.9 23.9 22.4 21.1 20.7 19.8 -6.0 -23.3%
National Archives and Records Admin. ....................... 2.8 2.6 2.6 2.5 2.5 2.5 2.5 -0.2 -8.6%
National Labor Relations Board.............................. 2.1 2.1 2.1 2.0 1.9 2.0 2.0 -0.1 -6.0%
National Science Foundation................................. 1.3 1.2 1.2 1.2 1.3 1.3 1.2 -0.1 -8.2%
Nuclear Regulatory Commission............................... 3.4 3.4 3.3 3.2 3.1 3.1 3.0 -0.4 -12.1%
Office of Personnel Management.............................. 6.2 5.9 5.3 4.2 3.4 3.4 3.3 -3.0 -47.6%
Panama Canal Commission..................................... 8.7 8.5 8.5 8.8 9.0 10.2 10.3 +1.6 +18.5%
Peace Corps................................................. 1.3 1.2 1.2 1.2 1.1 1.2 1.1 -0.1 -9.4%
Railroad Retirement Board................................... 1.9 1.8 1.7 1.6 1.5 1.4 1.3 -0.5 -29.0%
Securities and Exchange Commission.......................... 2.7 2.7 2.7 2.7 2.8 2.8 2.8 +0.1 +2.1%
Small Business Administration............................... 4.0 5.6 6.3 5.7 4.8 4.6 4.6 +0.6 +15.2%
Smithsonian Institution..................................... 5.9 5.5 5.4 5.3 5.1 5.3 5.3 -0.6 -10.4%
Tennessee Valley Authority.................................. 19.1 17.3 18.6 16.6 16.0 15.7 15.6 -3.6 -18.8%
United States Information Agency............................ 8.7 8.3 8.1 7.7 7.0 7.0 6.9 -1.8 -20.9%
All other small agencies.................................... 16.1 15.4 15.0 15.1 14.1 14.8 14.5 -1.6 -9.9%
-----------------------------------------------------------------------------------------
Total, Executive Branch civilian employment................... 2,155.2 2,138.8 2,052.7 1,970.2 1,891.7 1,881.3 1,855.6 -299.6 -13.9%
Reduction from 1993 base.................................... ........ -16.4 -102.5 -185.0 -263.5 -273.9 -299.6 ........ ........
Subtotal, Defense............................................. 931.3 931.8 868.3 821.7 778.9 760.0 733.2 -198.1 -21.3%
Subtotal, non-defense......................................... 1,223.9 1,207.1 1,184.4 1,148.4 1,112.8 1,121.2 1,122.4 -101.5 -8.3%
=========================================================================================
Status of Federal civilian employment relative to the FWRA:
\2\
Total, Executive Branch employment.......................... ........ ........ 2,052.7 1,970.2 1,891.7 1,881.3 1,855.6 ........ ........
Less: FTEs exempt from FWRA................................. ........ ........ 5.7 5.7 7.6 7.9 5.6 ........ ........
Total, Executive Branch subject to FWRA Ceiling............. ........ ........ 2,047.0 1,964.4 1,884.1 1,873.3 1,850.0 ........ ........
FWRA ceiling................................................ ........ ........ 2,084.6 2,043.3 2,003.3 1,963.3 1,922.3 ........ ........
Executive Branch employment relative to FWRA ceiling........ ........ ........ -37.6 -78.9 -119.2 -90.0 -72.3 ........ ........
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ The Departments of Agriculture, Health and Human Services, Veterans Affairs, and the Agency for International Development have components that are
exempt from FTE controls. In 1998, Agriculture has 2,098 exemptions; HHS has 268 exemptions; Veterans Affairs has 3,200 exemptions and AID has 27
exemptions.
\2\ FTE limitations are set for the Executive Branch in the Federal Workforce Restructuring Act of 1994 (P.L. 103-226) from 1994-99.
[[Page 331]]
Table S-16. FEDERAL GOVERNMENT FINANCING AND DEBT \1\
(In billions of dollars)
----------------------------------------------------------------------------------------------------------------
Estimate
1996 -----------------------------------------------------------
Actual 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Financing:
Surplus or deficit (-).................. -107.3 -125.6 -120.6 -117.4 -87.1 -36.1 17.0
(On-budget)........................... -174.3 -199.5 -197.0 -204.7 -183.3 -139.2 -92.5
(Off-budget).......................... 67.0 73.9 76.4 87.3 96.2 103.1 109.5
Means of financing other than borrowing
from the public:
Changes in: \2\
Treasury operating cash balance..... -6.3 4.2 ........ ........ ........ ........ ........
Checks outstanding, etc. \3\........ -3.9 -* -1.4 ........ ........ ........ ........
Deposit fund balances............... -1.0 0.7 -2.6 ........ ........ ........ ........
Seigniorage on coins................. 0.6 0.6 0.6 0.6 0.6 0.6 0.6
Less: Net financing disbursements:
Direct loan financing accounts...... -13.0 -22.6 -21.9 -21.9 -23.8 -24.4 -24.0
Guaranteed loan financing accounts.. 1.3 -0.2 0.4 0.6 0.7 0.9 1.2
---------------------------------------------------------------------
Total, means of financing other than
borrowing from the public............ -22.3 -17.2 -24.9 -20.7 -22.4 -22.8 -22.1
---------------------------------------------------------------------
Total, requirement for borrowing from
the public............................. -129.6 -142.8 -145.6 -138.1 -109.6 -59.0 -5.2
Change in debt held by the public....... 129.6 142.8 145.6 138.1 109.6 59.0 5.2
Debt Outstanding, End of Year:
Gross Federal debt:
Debt issued by Treasury............... 5,146.9 5,420.4 5,706.3 5,983.1 6,243.0 6,456.6 6,624.3
Debt issued by other agencies......... 35.1 33.3 29.9 29.5 29.0 28.7 28.2
---------------------------------------------------------------------
Total, gross Federal debt............. 5,181.9 5,453.7 5,736.2 6,012.6 6,272.0 6,485.2 6,652.5
Held by:
Government accounts................... 1,449.0 1,577.9 1,714.8 1,853.2 2,003.0 2,157.2 2,319.4
The public............................ 3,733.0 3,875.8 4,021.4 4,159.4 4,269.0 4,328.0 4,333.1
Federal Reserve Banks............... 390.9 ........ ........ ........ ........ ........ ........
Other............................... 3,342.0 ........ ........ ........ ........ ........ ........
Debt Subject to Statutory Limitation, End
of Year:
Debt issued by Treasury................. 5,146.9 5,420.4 5,706.3 5,983.1 6,243.0 6,456.6 6,624.3
Less: Treasury debt not subject to
limitation \4\......................... -15.5 -15.5 -15.5 -15.5 -15.5 -15.5 -15.5
Agency debt subject to limitation....... 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Adjustment for discount and premium \5\. 5.8 5.8 5.8 5.8 5.8 5.8 5.8
---------------------------------------------------------------------
Total, debt subject to statutory
limitation \6\......................... 5,137.2 5,410.7 5,696.6 5,973.4 6,233.3 6,446.9 6,614.7
----------------------------------------------------------------------------------------------------------------
* $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 has 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 also 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 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 $5,500 billion.
[[Page 332]]
Table S-17. COMPARISON OF ECONOMIC ASSUMPTIONS
(Calendar years)
----------------------------------------------------------------------------------------------------------------
Projections
-----------------------------------------------------
1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Real GDP (chain-weighted): \1\
1997 Mid-Session Review................................ 2.3 2.3 2.3 2.3 2.3 2.3
CBO January \2\........................................ 2.1 2.1 2.2 2.2 2.1 2.1
1998 Budget............................................ 2.0 2.0 2.3 2.3 2.3 2.3
Chain-weighted GDP Price Index: \1\
1997 Mid-Session Review................................ 2.7 2.7 2.7 2.7 2.7 2.7
CBO January \2\........................................ 2.4 2.6 2.6 2.6 2.6 2.6
1998 Budget............................................ 2.5 2.6 2.6 2.6 2.6 2.6
Consumer Price Index (all-urban): \1\
1997 Mid-Session Review................................ 2.8 2.8 2.8 2.8 2.8 2.8
CBO January \2\........................................ 2.9 3.0 3.0 3.0 3.0 3.0
1998 Budget............................................ 2.6 2.7 2.7 2.7 2.7 2.7
Unemployment rate: \3\
1997 Mid-Session Review................................ 5.7 5.7 5.7 5.7 5.7 5.7
CBO January \2\........................................ 5.3 5.6 5.8 5.9 6.0 6.0
1998 Budget............................................ 5.3 5.5 5.5 5.5 5.5 5.5
Interest rates: \3\
91-day Treasury bills:
1997 Mid-Session Review.............................. 4.5 4.3 4.2 4.0 4.0 4.0
CBO January \2\...................................... 5.0 5.0 4.6 4.2 3.9 3.9
1998 Budget.......................................... 5.0 4.7 4.4 4.2 4.0 4.0
10-year Treasury notes:
1997 Mid-Session Review.............................. 5.6 5.2 5.0 5.0 5.0 5.0
CBO January \2\...................................... 6.2 6.1 5.8 5.5 5.5 5.5
1998 Budget.......................................... 6.1 5.9 5.5 5.3 5.1 5.1
----------------------------------------------------------------------------------------------------------------
\1\ Percent change, fourth quarter over fourth quarter.
\2\ Economic projections assuming balanced budget policy.
\3\ Annual averages, percent.