[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
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\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.