[Economic Report of the President (1998)] [Administration of William J. Clinton] [Online through the Government Printing Office, www.gpo.gov] GOVERNMENT FINANCE Table B-78.--Federal receipts, outlays, surplus or deficit, and debt, selected fiscal years, 1929-99 [Billions of dollars; fiscal years] -------------------------------------------------------------------------------------------------------------------------------------------------------- Total On-budget Off-budget Federal debt (end Adden- ------------------------------------------------------------------------------------------ of period) dum: --------------------- Gross Fiscal year or period Surplus Surplus Surplus or domes- Receipts Outlays or Receipts Outlays or Receipts Outlays deficit Gross Held by tic deficit deficit (-) Federal the prod- (-) (-) public uct -------------------------------------------------------------------------------------------------------------------------------------------------------- 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 ......... 57.4 1939........................... 6.3 9.1 -2.8 5.8 9.2 -3.4 0.5 -0.0 0.5 48.2 41.4 88.9 1940........................... 6.5 9.5 -2.9 6.0 9.5 -3.5 .6 -.0 .6 50.7 42.8 96.5 1941........................... 8.7 13.7 -4.9 8.0 13.6 -5.6 .7 .0 .7 57.5 48.2 113.9 1942........................... 14.6 35.1 -20.5 13.7 35.1 -21.3 .9 .1 .8 79.2 67.8 144.2 1943........................... 24.0 78.6 -54.6 22.9 78.5 -55.6 1.1 .1 1.0 142.6 127.8 180.0 1944........................... 43.7 91.3 -47.6 42.5 91.2 -48.7 1.3 .1 1.2 204.1 184.8 209.0 1945........................... 45.2 92.7 -47.6 43.8 92.6 -48.7 1.3 .1 1.2 260.1 235.2 221.4 1946........................... 39.3 55.2 -15.9 38.1 55.0 -17.0 1.2 .2 1.0 271.0 241.9 222.9 1947........................... 38.5 34.5 4.0 37.1 34.2 2.9 1.5 .3 1.2 257.1 224.3 234.9 1948........................... 41.6 29.8 11.8 39.9 29.4 10.5 1.6 .4 1.2 252.0 216.3 256.6 1949........................... 39.4 38.8 .6 37.7 38.4 -.7 1.7 .4 1.3 252.6 214.3 271.7 1950........................... 39.4 42.6 -3.1 37.3 42.0 -4.7 2.1 .5 1.6 256.9 219.0 273.6 1951........................... 51.6 45.5 6.1 48.5 44.2 4.3 3.1 1.3 1.8 255.3 214.3 321.3 1952........................... 66.2 67.7 -1.5 62.6 66.0 -3.4 3.6 1.7 1.9 259.1 214.8 348.9 1953........................... 69.6 76.1 -6.5 65.5 73.8 -8.3 4.1 2.3 1.8 266.0 218.4 373.1 1954........................... 69.7 70.9 -1.2 65.1 67.9 -2.8 4.6 2.9 1.7 270.8 224.5 378.0 1955........................... 65.5 68.4 -3.0 60.4 64.5 -4.1 5.1 4.0 1.1 274.4 226.6 395.3 1956........................... 74.6 70.6 3.9 68.2 65.7 2.5 6.4 5.0 1.5 272.7 222.2 427.6 1957........................... 80.0 76.6 3.4 73.2 70.6 2.6 6.8 6.0 .8 272.3 219.3 450.5 1958........................... 79.6 82.4 -2.8 71.6 74.9 -3.3 8.0 7.5 .5 279.7 226.3 460.6 1959........................... 79.2 92.1 -12.8 71.0 83.1 -12.1 8.3 9.0 -.7 287.5 234.7 491.8 1960........................... 92.5 92.2 .3 81.9 81.3 .5 10.6 10.9 -.2 290.5 236.8 518.2 1961........................... 94.4 97.7 -3.3 82.3 86.0 -3.8 12.1 11.7 .4 292.6 238.4 530.9 1962........................... 99.7 106.8 -7.1 87.4 93.3 -5.9 12.3 13.5 -1.3 302.9 248.0 567.5 1963........................... 106.6 111.3 -4.8 92.4 96.4 -4.0 14.2 15.0 -.8 310.3 254.0 598.3 1964........................... 112.6 118.5 -5.9 96.2 102.8 -6.5 16.4 15.7 .6 316.1 256.8 640.0 1965........................... 116.8 118.2 -1.4 100.1 101.7 -1.6 16.7 16.5 .2 322.3 260.8 686.7 1966........................... 130.8 134.5 -3.7 111.7 114.8 -3.1 19.1 19.7 -.6 328.5 263.7 752.8 1967........................... 148.8 157.5 -8.6 124.4 137.0 -12.6 24.4 20.4 4.0 340.4 266.6 811.9 1968........................... 153.0 178.1 -25.2 128.1 155.8 -27.7 24.9 22.3 2.6 368.7 289.5 868.1 1969........................... 186.9 183.6 3.2 157.9 158.4 -.5 29.0 25.2 3.7 365.8 278.1 947.9 1970........................... 192.8 195.6 -2.8 159.3 168.0 -8.7 33.5 27.6 5.9 380.9 283.2 1,009.0 1971........................... 187.1 210.2 -23.0 151.3 177.3 -26.1 35.8 32.8 3.0 408.2 303.0 1,077.7 1972........................... 207.3 230.7 -23.4 167.4 193.8 -26.4 39.9 36.9 3.1 435.9 322.4 1,176.9 1973........................... 230.8 245.7 -14.9 184.7 200.1 -15.4 46.1 45.6 .5 466.3 340.9 1,306.8 1974........................... 263.2 269.4 -6.1 209.3 217.3 -8.0 53.9 52.1 1.8 483.9 343.7 1,438.1 1975........................... 279.1 332.3 -53.2 216.6 271.9 -55.3 62.5 60.4 2.0 541.9 394.7 1,554.5 1976........................... 298.1 371.8 -73.7 231.7 302.2 -70.5 66.4 69.6 -3.2 629.0 477.4 1,730.4 Transition quarter............. 81.2 96.0 -14.7 63.2 76.6 -13.3 18.0 19.4 -1.4 643.6 495.5 454.8 1977........................... 355.6 409.2 -53.7 278.7 328.5 -49.8 76.8 80.7 -3.9 706.4 549.1 1,971.4 1978........................... 399.6 458.7 -59.2 314.2 369.1 -54.9 85.4 89.7 -4.3 776.6 607.1 2,212.6 1979........................... 463.3 504.0 -40.7 365.3 404.1 -38.7 98.0 100.0 -2.0 829.5 640.3 2,495.9 1980........................... 517.1 590.9 -73.8 403.9 476.6 -72.7 113.2 114.3 -1.1 909.1 709.8 2,718.9 1981........................... 599.3 678.2 -79.0 469.1 543.1 -74.0 130.2 135.2 -5.0 994.8 785.3 3,049.1 1982........................... 617.8 745.8 -128.0 474.3 594.4 -120.1 143.5 151.4 -7.9 1,137.3 919.8 3,211.3 1983........................... 600.6 808.4 -207.8 453.2 661.3 -208.0 147.3 147.1 .2 1,371.7 1,131.6 3,421.9 1984........................... 666.5 851.9 -185.4 500.4 686.1 -185.7 166.1 165.8 .3 1,564.7 1,300.5 3,812.0 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 4,102.1 1986........................... 769.2 990.5 -221.2 569.0 807.0 -238.0 200.2 183.5 16.7 2,120.6 1,736.7 4,374.3 1987........................... 854.4 1,004.1 -149.8 641.0 810.3 -169.3 213.4 193.8 19.6 2,346.1 1,888.7 4,605.1 1988........................... 909.3 1,064.5 -155.2 667.8 861.8 -194.0 241.5 202.7 38.8 2,601.3 2,050.8 4,953.5 1989........................... 991.2 1,143.7 -152.5 727.5 932.8 -205.2 263.7 210.9 52.8 2,868.0 2,189.9 5,351.8 1990........................... 1,032.0 1,253.2 -221.2 750.3 1,028.1 -277.8 281.7 225.1 56.6 3,206.6 2,410.7 5,684.5 1991........................... 1,055.0 1,324.4 -269.4 761.2 1,082.7 -321.6 293.9 241.7 52.2 3,598.5 2,688.1 5,858.8 1992........................... 1,091.3 1,381.7 -290.4 788.9 1,129.3 -340.5 302.4 252.3 50.1 4,002.1 2,998.8 6,143.2 1993........................... 1,154.4 1,409.4 -255.0 842.5 1,142.8 -300.4 311.9 266.6 45.3 4,351.4 3,247.5 6,475.1 1994........................... 1,258.6 1,461.7 -203.1 923.6 1,182.4 -258.8 335.0 279.4 55.7 4,643.7 3,432.1 6,845.7 1995........................... 1,351.8 1,515.7 -163.9 1,000.8 1,227.1 -226.3 351.1 288.7 62.4 4,921.0 3,603.4 7,194.8 1996........................... 1,453.1 1,560.5 -107.5 1,085.6 1,259.6 -174.0 367.5 300.9 66.6 5,181.9 3,733.0 7,529.8 1997........................... 1,579.3 1,601.2 -21.9 1,187.3 1,290.6 -103.3 392.0 310.6 81.4 5,369.7 3,771.1 7,972.4 1998 \2\....................... 1,657.9 1,667.8 -10.0 1,241.9 1,348.1 -106.3 416.0 319.7 96.3 5,543.6 3,796.8 8,348.0 1999 \2\....................... 1,742.7 1,733.2 9.5 1,308.6 1,404.4 -95.7 434.1 328.9 105.3 5,738.1 3,807.3 8,684.6 -------------------------------------------------------------------------------------------------------------------------------------------------------- \1\ Not strictly comparable with later data. \2\ Estimates. 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. See Budget of the United States Government, Fiscal Year 1999, February 1998, for additional information. Sources: Department of Commerce (Bureau of Economic Analysis), Department of the Treasury, and Office of Management and Budget.