[Economic Report of the President (1996)]
[Administration of William J. Clinton]
[Online through the Government Publishing Office, www.gpo.gov]

[DOCID: f:erp_b74._]
Economic Report of the President - - - - - - - - - - - - H. Doc. 104-161
[From the online service of the U.S. Government Printing Office]
[wais.access.gpo.gov]
GOVERNMENT FINANCE


Table B-74.--Federal receipts, outlays, surplus or deficit, and debt, selected fiscal years, 1929-95
[Billions of dollars; fiscal years]
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Total                       On-budget                     Off-budget            Gross Federal debt
------------------------------------------------------------------------------------------   (end of period)    Addendum:
Surplus                      Surplus                                 ---------------------   Gross
Fiscal year or period                            or                            or                        Surplus or             Held by    domestic
Receipts  Outlays   deficit  Receipts  Outlays   deficit   Receipts  Outlays    deficit     Total      the      product
(-)                          (-)                            (-)                 public
--------------------------------------------------------------------------------------------------------------------------------------------------------
1929..........................       3.9      3.1       0.7       3.9      3.1        0.7  ........  .......  ..........  \1\ 16.9  .........  .........
1933..........................       2.0      4.6      -2.6       2.0      4.6       -2.6  ........  .......  ..........  \1\ 22.5  .........       56.8
1939..........................       6.3      9.1      -2.8       5.8      9.2       -3.4       0.5     -0.0        0.5       48.2      41.4        87.8

1940..........................       6.5      9.5      -2.9       6.0      9.5       -3.5        .6      -.0         .6       50.7      42.8        95.4
1941..........................       8.7     13.7      -4.9       8.0     13.6       -5.6        .7       .0         .7       57.5      48.2       112.5
1942..........................      14.6     35.1     -20.5      13.7     35.1      -21.3        .9       .1         .8       79.2      67.8       141.8
1943..........................      24.0     78.6     -54.6      22.9     78.5      -55.6       1.1       .1        1.0      142.6     127.8       175.4
1944..........................      43.7     91.3     -47.6      42.5     91.2      -48.7       1.3       .1        1.2      204.1     184.8       201.7
1945..........................      45.2     92.7     -47.6      43.8     92.6      -48.7       1.3       .1        1.2      260.1     235.2       212.0
1946..........................      39.3     55.2     -15.9      38.1     55.0      -17.0       1.2       .2        1.0      271.0     241.9       212.5
1947..........................      38.5     34.5       4.0      37.1     34.2        2.9       1.5       .3        1.2      257.1     224.3       222.9
1948..........................      41.6     29.8      11.8      39.9     29.4       10.5       1.6       .4        1.2      252.0     216.3       246.7
1949..........................      39.4     38.8        .6      37.7     38.4        -.7       1.7       .4        1.3      252.6     214.3       262.7

1950..........................      39.4     42.6      -3.1      37.3     42.0       -4.7       2.1       .5        1.6      256.9     219.0       265.8
1951..........................      51.6     45.5       6.1      48.5     44.2        4.3       3.1      1.3        1.8      255.3     214.3       313.5
1952..........................      66.2     67.7      -1.5      62.6     66.0       -3.4       3.6      1.7        1.9      259.1     214.8       340.5
1953..........................      69.6     76.1      -6.5      65.5     73.8       -8.3       4.1      2.3        1.8      266.0     218.4       363.8
1954..........................      69.7     70.9      -1.2      65.1     67.9       -2.8       4.6      2.9        1.7      270.8     224.5       368.0
1955..........................      65.5     68.4      -3.0      60.4     64.5       -4.1       5.1      4.0        1.1      274.4     226.6       384.7
1956..........................      74.6     70.6       3.9      68.2     65.7        2.5       6.4      5.0        1.5      272.7     222.2       416.3
1957..........................      80.0     76.6       3.4      73.2     70.6        2.6       6.8      6.0         .8      272.3     219.3       438.3
1958..........................      79.6     82.4      -2.8      71.6     74.9       -3.3       8.0      7.5         .5      279.7     226.3       448.1
1959..........................      79.2     92.1     -12.8      71.0     83.1      -12.1       8.3      9.0        -.7      287.5     234.7       480.2

1960..........................      92.5     92.2        .3      81.9     81.3         .5      10.6     10.9        -.2      290.5     236.8       504.6
1961..........................      94.4     97.7      -3.3      82.3     86.0       -3.8      12.1     11.7         .4      292.6     238.4       517.0
1962..........................      99.7    106.8      -7.1      87.4     93.3       -5.9      12.3     13.5       -1.3      302.9     248.0       555.2
1963..........................     106.6    111.3      -4.8      92.4     96.4       -4.0      14.2     15.0        -.8      310.3     254.0       584.5
1964..........................     112.6    118.5      -5.9      96.2    102.8       -6.5      16.4     15.7         .6      316.1     256.8       625.3
1965..........................     116.8    118.2      -1.4     100.1    101.7       -1.6      16.7     16.5         .2      322.3     260.8       671.0
1966..........................     130.8    134.5      -3.7     111.7    114.8       -3.1      19.1     19.7        -.6      328.5     263.7       735.4
1967..........................     148.8    157.5      -8.6     124.4    137.0      -12.6      24.4     20.4        4.0      340.4     266.6       793.3
1968..........................     153.0    178.1     -25.2     128.1    155.8      -27.7      24.9     22.3        2.6      368.7     289.5       847.2
1969..........................     186.9    183.6       3.2     157.9    158.4        -.5      29.0     25.2        3.7      365.8     278.1       925.7

1970..........................     192.8    195.6      -2.8     159.3    168.0       -8.7      33.5     27.6        5.9      380.9     283.2       985.4
1971..........................     187.1    210.2     -23.0     151.3    177.3      -26.1      35.8     32.8        3.0      408.2     303.0     1,050.9
1972..........................     207.3    230.7     -23.4     167.4    193.8      -26.4      39.9     36.9        3.1      435.9     322.4     1,147.8
1973..........................     230.8    245.7     -14.9     184.7    200.1      -15.4      46.1     45.6         .5      466.3     340.9     1,274.0
1974..........................     263.2    269.4      -6.1     209.3    217.3       -8.0      53.9     52.1        1.8      483.9     343.7     1,403.6
1975..........................     279.1    332.3     -53.2     216.6    271.9      -55.3      62.5     60.4        2.0      541.9     394.7     1,509.8
1976..........................     298.1    371.8     -73.7     231.7    302.2      -70.5      66.4     69.6       -3.2      629.0     477.4     1,684.2
Transition quarter............      81.2     96.0     -14.7      63.2     76.6      -13.3      18.0     19.4       -1.4      643.6     495.5       445.0
1977..........................     355.6    409.2     -53.7     278.7    328.5      -49.8      76.8     80.7       -3.9      706.4     549.1     1,917.2
1978..........................     399.6    458.7     -59.2     314.2    369.1      -54.9      85.4     89.7       -4.3      776.6     607.1     2,155.0
1979..........................     463.3    504.0     -40.7     365.3    404.1      -38.7      98.0    100.0       -2.0      829.5     640.3     2,429.5

1980..........................     517.1    590.9     -73.8     403.9    476.6      -72.7     113.2    114.3       -1.1      909.1     709.8     2,644.1
1981..........................     599.3    678.2     -79.0     469.1    543.1      -74.0     130.2    135.2       -5.0      994.8     785.3     2,964.4
1982..........................     617.8    745.8    -128.0     474.3    594.4     -120.1     143.5    151.4       -7.9    1,137.3     919.8     3,122.2
1983..........................     600.6    808.4    -207.8     453.2    661.3     -208.0     147.3    147.1         .2    1,371.7   1,131.6     3,316.5
1984..........................     666.5    851.8    -185.4     500.4    686.0     -185.7     166.1    165.8         .3    1,564.7   1,300.5     3,695.0
1985..........................     734.1    946.4    -212.3     547.9    769.6     -221.7     186.2    176.8        9.4    1,817.5   1,499.9     3,967.7
1986..........................     769.1    990.3    -221.2     568.9    806.8     -238.0     200.2    183.5       16.7    2,120.6   1,736.7     4,219.0
1987..........................     854.1  1,003.9    -149.8     640.7    810.1     -169.3     213.4    193.8       19.6    2,346.1   1,888.7     4,452.4
1988..........................     909.0  1,064.1    -155.2     667.5    861.4     -194.0     241.5    202.7       38.8    2,601.3   2,050.8     4,808.4
1989..........................     990.7  1,143.2    -152.5     727.0    932.3     -205.2     263.7    210.9       52.8    2,868.0   2,189.9     5,173.3

1990..........................   1,031.3  1,252.7    -221.4     749.7  1,027.6     -278.0     281.7    225.1       56.6    3,206.6   2,410.7     5,481.5
1991..........................   1,054.3  1,323.4    -269.2     760.4  1,081.8     -321.4     293.9    241.7       52.2    3,598.5   2,688.1     5,676.4
1992..........................   1,090.5  1,380.9    -290.4     788.0  1,128.5     -340.5     302.4    252.3       50.1    4,002.1   2,998.8     5,921.5
1993..........................   1,153.5  1,408.7    -255.1     841.6  1,142.1     -300.5     311.9    266.6       45.3    4,351.4   3,247.5     6,258.6
1994..........................   1,257.7  1,460.9    -203.2     922.7  1,181.5     -258.8     335.0    279.4       55.7    4,643.7   3,432.2     6,633.6
1995\2\.......................   1,350.6  1,514.4    -163.8     999.5  1,225.7     -226.2     351.1    288.7       62.4    4,921.0   3,603.3     7,004.5
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\1\ Not strictly comparable with later data.
\2\ Estimates for 1995 from Final Monthly Treasury Statement, October 1995, except GDP calculated using quarterly seasonally adjusted data.

Note.--Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscal year is on an
October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscal period known as the transition
quarter.
Refunds of receipts are excluded from receipts and outlays.
Data shown in this table are from Budget of the United States Government, Fiscal Year 1996, February 1995 (except as noted); all GDP data shown are pre-
1996 benchmark.

Sources: Department of Commerce (Bureau of Economic Analysis), Department of the Treasury, and Office of Management and Budget.