[Historical Tables]
[Section 1 - Overview of Federal Government Finances]
[Table 1.3 - Summary of Receipts, Outlays, and Surpluses or Deficits (-) in Current Dollars, Constant (FY 1996) Dollars, and as Percentages of GDP: 1940-2005]
[From the U.S. Government Publishing Office, www.gpo.gov]
[[Page 23]]
Table 1.3--SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS(-) IN CURRENT DOLLARS, CONSTANT (FY 1996) DOLLARS, AND AS PERCENTAGES OF GDP: 1940-
2005
(dollar amounts in billions)
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In Current Dollars In Constant (FY 1996 Dollars) As Percentages of GDP
------------------------------------------------------------------ Addendum: ----------------------------------
Fiscal Year Surplus or Surplus or Composite Surplus or
Receipts Outlays Deficit (-) Receipts Outlays Deficit (-) Deflator Receipts Outlays Deficit (-)
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1940.................................... 6.5 9.5 -2.9 80.4 116.3 -35.9 0.0814 6.8 9.8 -3.0
1941.................................... 8.7 13.7 -4.9 101.9 159.7 -57.8 0.0855 7.6 12.0 -4.3
1942.................................... 14.6 35.1 -20.5 156.2 375.0 -218.8 0.0937 10.1 24.4 -14.2
1943.................................... 24.0 78.6 -54.6 219.6 718.7 -499.1 0.1093 13.3 43.6 -30.3
1944.................................... 43.7 91.3 -47.6 385.8 805.1 -419.4 0.1134 20.9 43.7 -22.8
1945.................................... 45.2 92.7 -47.6 400.3 821.9 -421.6 0.1128 20.4 41.9 -21.5
1946.................................... 39.3 55.2 -15.9 366.6 515.2 -148.7 0.1072 17.6 24.8 -7.1
1947.................................... 38.5 34.5 4.0 332.9 298.2 34.7 0.1157 16.4 14.7 1.7
1948.................................... 41.6 29.8 11.8 361.4 258.8 102.6 0.1150 16.2 11.6 4.6
1949.................................... 39.4 38.8 0.6 327.1 322.3 4.8 0.1205 14.5 14.3 0.2
1950.................................... 39.4 42.6 -3.1 307.7 332.0 -24.3 0.1282 14.4 15.6 -1.1
1951.................................... 51.6 45.5 6.1 381.5 336.4 45.1 0.1353 16.1 14.2 1.9
1952.................................... 66.2 67.7 -1.5 469.3 480.0 -10.8 0.1410 19.0 19.4 -0.4
1953.................................... 69.6 76.1 -6.5 471.3 515.2 -44.0 0.1477 18.7 20.4 -1.7
1954.................................... 69.7 70.9 -1.2 455.9 463.4 -7.5 0.1529 18.4 18.7 -0.3
1955.................................... 65.5 68.4 -3.0 424.7 444.2 -19.4 0.1541 16.6 17.3 -0.8
1956.................................... 74.6 70.6 3.9 460.1 435.8 24.3 0.1621 17.4 16.5 0.9
1957.................................... 80.0 76.6 3.4 470.3 450.2 20.1 0.1701 17.8 17.0 0.8
1958.................................... 79.6 82.4 -2.8 444.6 460.1 -15.5 0.1791 17.3 17.9 -0.6
1959.................................... 79.2 92.1 -12.8 430.7 500.5 -69.8 0.1840 16.1 18.7 -2.6
1960.................................... 92.5 92.2 0.3 498.6 497.0 1.6 0.1855 17.8 17.7 0.1
1961.................................... 94.4 97.7 -3.3 496.0 513.5 -17.5 0.1903 17.8 18.4 -0.6
1962.................................... 99.7 106.8 -7.1 516.5 553.5 -37.0 0.1930 17.5 18.8 -1.3
1963.................................... 106.6 111.3 -4.8 530.2 553.8 -23.7 0.2010 17.8 18.5 -0.8
1964.................................... 112.6 118.5 -5.9 551.5 580.5 -29.0 0.2042 17.5 18.5 -0.9
1965.................................... 116.8 118.2 -1.4 564.9 571.7 -6.8 0.2068 17.0 17.2 -0.2
1966.................................... 130.8 134.5 -3.7 612.8 630.1 -17.3 0.2135 17.3 17.8 -0.5
1967.................................... 148.8 157.5 -8.6 673.4 712.5 -39.1 0.2210 18.3 19.4 -1.1
1968.................................... 153.0 178.1 -25.2 663.1 772.1 -109.1 0.2307 17.6 20.5 -2.9
1969.................................... 186.9 183.6 3.2 767.2 753.9 13.3 0.2436 19.7 19.3 0.3
1970.................................... 192.8 195.6 -2.8 747.0 758.0 -11.0 0.2581 19.0 19.3 -0.3
1971.................................... 187.1 210.2 -23.0 681.2 765.1 -83.8 0.2747 17.3 19.4 -2.1
1972.................................... 207.3 230.7 -23.4 708.5 788.4 -79.9 0.2926 17.6 19.6 -2.0
1973.................................... 230.8 245.7 -14.9 745.7 793.9 -48.2 0.3095 17.6 18.7 -1.1
1974.................................... 263.2 269.4 -6.1 786.9 805.3 -18.3 0.3345 18.3 18.7 -0.4
1975.................................... 279.1 332.3 -53.2 758.6 903.3 -144.7 0.3679 17.9 21.3 -3.4
1976.................................... 298.1 371.8 -73.7 754.8 941.5 -186.7 0.3949 17.2 21.4 -4.2
TQ...................................... 81.2 96.0 -14.7 198.8 234.9 -36.1 0.4086 17.7 20.9 -3.2
1977.................................... 355.6 409.2 -53.7 830.4 955.7 -125.3 0.4282 18.0 20.7 -2.7
1978.................................... 399.6 458.7 -59.2 876.0 1,005.8 -129.8 0.4561 18.0 20.7 -2.7
1979.................................... 463.3 504.0 -40.7 938.8 1,021.3 -82.5 0.4935 18.5 20.1 -1.6
1980.................................... 517.1 590.9 -73.8 952.0 1,087.9 -135.9 0.5432 18.9 21.6 -2.7
1981.................................... 599.3 678.2 -79.0 998.8 1,130.4 -131.6 0.6000 19.6 22.2 -2.6
1982.................................... 617.8 745.8 -128.0 963.6 1,163.2 -199.6 0.6411 19.1 23.1 -4.0
1983.................................... 600.6 808.4 -207.8 894.2 1,203.7 -309.4 0.6716 17.4 23.5 -6.0
1984.................................... 666.5 851.9 -185.4 946.8 1,210.2 -263.4 0.7039 17.3 22.1 -4.8
1985.................................... 734.1 946.4 -212.3 1,008.6 1,300.4 -291.7 0.7278 17.7 22.9 -5.1
1986.................................... 769.2 990.5 -221.2 1,032.1 1,328.9 -296.9 0.7453 17.5 22.5 -5.0
1987.................................... 854.4 1,004.1 -149.8 1,116.1 1,311.7 -195.6 0.7655 18.4 21.6 -3.2
1988.................................... 909.3 1,064.5 -155.2 1,151.6 1,348.1 -196.5 0.7896 18.1 21.2 -3.1
1989.................................... 991.2 1,143.7 -152.5 1,208.9 1,394.9 -186.0 0.8199 18.3 21.2 -2.8
1990.................................... 1,032.0 1,253.2 -221.2 1,217.1 1,478.0 -260.9 0.8479 18.0 21.8 -3.9
1991.................................... 1,055.0 1,324.4 -269.4 1,194.0 1,498.9 -304.8 0.8836 17.8 22.3 -4.5
1992.................................... 1,091.3 1,381.7 -290.4 1,198.3 1,517.2 -318.9 0.9107 17.5 22.2 -4.7
1993.................................... 1,154.4 1,409.5 -255.1 1,234.8 1,507.7 -272.9 0.9349 17.6 21.5 -3.9
1994.................................... 1,258.6 1,461.9 -203.3 1,317.5 1,530.3 -212.8 0.9553 18.1 21.0 -2.9
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Table 1.3--SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS(-) IN CURRENT DOLLARS, CONSTANT (FY 1996) DOLLARS, AND AS PERCENTAGES OF GDP: 1940-
2005--Continued
(dollar amounts in billions)
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In Current Dollars In Constant (FY 1996 Dollars) As Percentages of GDP
------------------------------------------------------------------ Addendum: ----------------------------------
Fiscal Year Surplus or Surplus or Composite Surplus or
Receipts Outlays Deficit (-) Receipts Outlays Deficit (-) Deflator Receipts Outlays Deficit (-)
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1995.................................... 1,351.8 1,515.8 -164.0 1,382.8 1,550.6 -167.8 0.9776 18.5 20.7 -2.2
1996.................................... 1,453.1 1,560.6 -107.5 1,453.1 1,560.6 -107.5 1.0000 18.9 20.3 -1.4
1997.................................... 1,579.3 1,601.3 -22.0 1,550.9 1,572.5 -21.6 1.0183 19.3 19.6 -0.3
1998.................................... 1,721.8 1,652.6 69.2 1,672.0 1,604.8 67.2 1.0298 19.9 19.1 0.8
1999.................................... 1,827.5 1,703.0 124.4 1,745.1 1,626.3 118.8 1.0472 20.0 18.7 1.4
2000 estimate........................... 1,956.3 1,789.6 166.7 1,825.9 1,670.3 155.6 1.0714 20.4 18.7 1.7
2001 estimate........................... 2,019.0 1,835.0 184.0 1,842.2 1,674.3 167.9 1.0960 20.1 18.3 1.8
2002 estimate........................... 2,081.2 1,895.3 185.9 1,855.3 1,689.5 165.7 1.1218 19.8 18.0 1.8
2003 estimate........................... 2,147.5 1,962.9 184.6 1,868.8 1,708.2 160.7 1.1491 19.6 17.9 1.7
2004 estimate........................... 2,236.1 2,041.1 195.0 1,899.2 1,733.6 165.6 1.1774 19.4 17.7 1.7
2005 estimate........................... 2,340.9 2,125.5 215.4 1,940.2 1,761.7 178.6 1.2065 19.4 17.6 1.8
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Note: GDP, percentages of GDP, deflators and constant dollar amounts for years prior to 1960 are OMB estimates based on detailed historical GDP series
for which revised data are not yet available from the Bureau of Economic Analysis. For additional details, see the Special Note on GDP and Constant
Dollar Amounts in the Introduction to the FY2001 Historical Tables.
Note: The surplus allocation for debt reduction is part of the President's overall budgetary framework to extend the solvency of Social Security and
Medicare, and is shown in Table S-1 in Part 6 of the 2001 Budget.