[Economic Indicators December, 2003]
[Page Number 32]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
                             FEDERAL FINANCE

FEDERAL RECEIPTS, OUTLAYS, AND DEBT

In the first 2 months of fiscal 2004, there was a deficit of $112.5 
billion, compared with a deficit of $112.9 billion a year earlier.
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                                                                  [Billions of dollars]
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                                                    Total                         On-budget                      Off-budget            Federal debt (end
                                       ----------------------------------------------------------------------------------------------     of period)
                                                             Surplus                         Surplus                        Surplus  -------------------
         Fiscal year or period                                  or                              or                             or                Held by
                                        Receipts   Outlays   deficit   Receipts   Outlays    deficit   Receipts   Outlays   deficit     Gross      the
                                                               (-)                             (-)                            (-)      Federal   public
--------------------------------------------------------------------------------------------------------------------------------------------------------
1987 .................................     854.4   1,004.1     -149.7     641.0      810.2     -169.3     213.4     193.8      19.6    2,346.0   1,889.8
1988 .................................     909.3   1,064.5     -155.2     667.8      861.8     -194.0     241.5     202.7      38.8    2,601.1   2,051.6
1989 .................................     991.2   1,143.6     -152.5     727.5      932.7     -205.2     263.7     210.9      52.8    2,867.8   2,190.7
 
1990 .................................   1,032.0   1,253.2     -221.2     750.3    1,028.1     -277.8     281.7     225.1      56.6    3,206.3   2,411.6
1991 .................................   1,055.0   1,324.4     -269.3     761.2    1,082.7     -321.5     293.9     241.7      52.2    3,598.2   2,689.0
1992 .................................   1,091.3   1,381.7     -290.4     788.9    1,129.3     -340.5     302.4     252.3      50.1    4,001.8   2,999.7
1993 .................................   1,154.4   1,409.5     -255.1     842.5    1,142.9     -300.4     311.9     266.6      45.3    4,351.0   3,248.4
1994 .................................   1,258.6   1,461.9     -203.3     923.6    1,182.5     -258.9     335.0     279.4      55.7    4,643.3   3,433.1
1995 .................................   1,351.8   1,515.8     -164.0   1,000.8    1,227.1     -226.4     351.1     288.7      62.4    4,920.6   3,604.4
1996 .................................   1,453.1   1,560.5     -107.5   1,085.6    1,259.6     -174.1     367.5     300.9      66.6    5,181.5   3,734.1
1997 .................................   1,579.3   1,601.3      -22.0   1,187.3    1,290.6     -103.3     392.0     310.6      81.4    5,369.2   3,772.3
1998 .................................   1,721.8   1,652.6       69.2   1,306.0    1,336.0      -30.0     415.8     316.6      99.2    5,478.2   3,721.1
1999 .................................   1,827.5   1,701.9      125.6   1,383.0    1,381.1        1.9     444.5     320.8     123.7    5,605.5   3,632.4
 
2000 .................................   2,025.2   1,788.8      236.4   1,544.6    1,458.0       86.6     480.6     330.8     149.8    5,628.7   3,409.8
2001 .................................   1,991.2   1,863.9      127.3   1,483.7    1,517.1      -33.4     507.5     346.8     160.7    5,769.9   3,319.6
2002 .................................   1,853.2   2,011.0     -157.8   1,337.9    1,655.3     -317.5     515.3     355.7     159.7    6,198.4   3,540.4
2003 \1\..............................   1,782.3   2,156.5     -374.2   1,258.5    1,793.5     -535.1     523.8     363.0     160.8    6,759.8  r 3,914.
                                                                                                                                                       6
2004 (estimates)......................   1,797.4   2,272.4     -475.0   1,251.2    1,890.2     -639.0     546.3     382.3     164.0    7,586.3   4,473.5
Cumulative total, first 2 months: \2\
  Fiscal year 2003....................     244.6     357.5     -112.9     168.7      288.3     -119.6      75.9      69.2       6.6    6,316.2   3,636.8
  Fiscal year 2004....................     254.0     366.5     -112.5     176.1      294.6     -118.6      78.0      71.9       6.0    6,900.9   4,022.4
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    \1\ Data from Final Monthly 
Treasury Statement, October 2003, 
issued October 20, 2003.
    \2\ Data from current issue 
Monthly Treasury Statement.
    Note.--Data for fiscal 2002 and 
2004 are from Mid-Session Review of 
the FY 2004 Budget issued July 15, 
2003. Other data (except as noted) 
are from Budget of the United States 
Government, Fiscal Year 2004, issued 
February 3, 2003.

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