[Economic Report of the President (2003)]
[Administration of George W. Bush]
[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, 1939-2004
[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                         domes-
Receipts  Outlays     or     Receipts  Outlays     or     Receipts  Outlays      or       Gross    Held by      tic
deficit                      deficit                      deficit    Federal     the       prod-
(-)                          (-)                          (-)                 public      uct
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1939.............................       6.3      9.1      -2.8       5.8      9.2      -3.4       0.5     -0.0       0.5       48.2      41.4       89.0

1940.............................       6.5      9.5      -2.9       6.0      9.5      -3.5        .6      -.0        .6       50.7      42.8       96.7
1941.............................       8.7     13.7      -4.9       8.0     13.6      -5.6        .7       .0        .7       57.5      48.2      114.0
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      180.1
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      221.3
1946.............................      39.3     55.2     -15.9      38.1     55.0     -17.0       1.2       .2       1.0      271.0     241.9      222.7
1947.............................      38.5     34.5       4.0      37.1     34.2       2.9       1.5       .3       1.2      257.1     224.3      234.6
1948.............................      41.6     29.8      11.8      39.9     29.4      10.5       1.6       .4       1.2      252.0     216.3      256.4
1949.............................      39.4     38.8        .6      37.7     38.4       -.7       1.7       .4       1.3      252.6     214.3      271.5

1950.............................      39.4     42.6      -3.1      37.3     42.0      -4.7       2.1       .5       1.6      256.9     219.0      273.4
1951.............................      51.6     45.5       6.1      48.5     44.2       4.3       3.1      1.3       1.8      255.3     214.3      321.0
1952.............................      66.2     67.7      -1.5      62.6     66.0      -3.4       3.6      1.7       1.9      259.1     214.8      348.8
1953.............................      69.6     76.1      -6.5      65.5     73.8      -8.3       4.1      2.3       1.8      266.0     218.4      373.4
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      395.2
1956.............................      74.6     70.6       3.9      68.2     65.7       2.5       6.4      5.0       1.5      272.7     222.2      427.7
1957.............................      80.0     76.6       3.4      73.2     70.6       2.6       6.8      6.0        .8      272.3     219.3      450.7
1958.............................      79.6     82.4      -2.8      71.6     74.9      -3.3       8.0      7.5        .5      279.7     226.3      461.1
1959.............................      79.2     92.1     -12.8      71.0     83.1     -12.1       8.3      9.0       -.7      287.5     234.7      492.1

1960.............................      92.5     92.2        .3      81.9     81.3        .5      10.6     10.9       -.2      290.5     236.8      518.9
1961.............................      94.4     97.7      -3.3      82.3     86.0      -3.8      12.1     11.7        .4      292.6     238.4      531.8
1962.............................      99.7    106.8      -7.1      87.4     93.3      -5.9      12.3     13.5      -1.3      302.9     248.0      568.5
1963.............................     106.6    111.3      -4.8      92.4     96.4      -4.0      14.2     15.0       -.8      310.3     254.0      599.7
1964.............................     112.6    118.5      -5.9      96.2    102.8      -6.5      16.4     15.7        .6      316.1     256.8      641.3
1965.............................     116.8    118.2      -1.4     100.1    101.7      -1.6      16.7     16.5        .2      322.3     260.8      687.9
1966.............................     130.8    134.5      -3.7     111.7    114.8      -3.1      19.1     19.7       -.6      328.5     263.7      754.2
1967.............................     148.8    157.5      -8.6     124.4    137.0     -12.6      24.4     20.4       4.0      340.4     266.6      813.5
1968.............................     153.0    178.1     -25.2     128.1    155.8     -27.7      24.9     22.3       2.6      368.7     289.5      868.4
1969.............................     186.9    183.6       3.2     157.9    158.4       -.5      29.0     25.2       3.7      365.8     278.1      949.2

1970.............................     192.8    195.6      -2.8     159.3    168.0      -8.7      33.5     27.6       5.9      380.9     283.2    1,013.2
1971.............................     187.1    210.2     -23.0     151.3    177.3     -26.1      35.8     32.8       3.0      408.2     303.0    1,081.4
1972.............................     207.3    230.7     -23.4     167.4    193.8     -26.4      39.9     36.9       3.1      435.9     322.4    1,181.5
1973.............................     230.8    245.7     -14.9     184.7    200.1     -15.4      46.1     45.6        .5      466.3     340.9    1,308.1
1974.............................     263.2    269.4      -6.1     209.3    217.3      -8.0      53.9     52.1       1.8      483.9     343.7    1,442.1
1975.............................     279.1    332.3     -53.2     216.6    271.9     -55.3      62.5     60.4       2.0      541.9     394.7    1,559.8
1976.............................     298.1    371.8     -73.7     231.7    302.2     -70.5      66.4     69.6      -3.2      629.0     477.4    1,736.7
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    1,971.3
1978.............................     399.6    458.7     -59.2     314.2    369.1     -54.9      85.4     89.7      -4.3      776.6     607.1    2,218.6
1979.............................     463.3    504.0     -40.7     365.3    404.1     -38.7      98.0    100.0      -2.0      829.5     640.3    2,503.8

1980.............................     517.1    590.9     -73.8     403.9    476.6     -72.7     113.2    114.3      -1.1      909.0     711.9    2,732.1
1981.............................     599.3    678.2     -79.0     469.1    543.0     -73.9     130.2    135.2      -5.0      994.8     789.4    3,061.6
1982.............................     617.8    745.7    -128.0     474.3    594.3    -120.0     143.5    151.4      -7.9    1,137.3     924.6    3,228.6
1983.............................     600.6    808.4    -207.8     453.2    661.3    -208.0     147.3    147.1        .2    1,371.7   1,137.3    3,440.5
1984.............................     666.5    851.9    -185.4     500.4    686.0    -185.6     166.1    165.8        .3    1,564.6   1,307.0    3,839.4
1985.............................     734.1    946.4    -212.3     547.9    769.6    -221.7     186.2    176.8       9.4    1,817.4   1,507.3    4,136.6
1986.............................     769.2    990.4    -221.2     569.0    806.9    -237.9     200.2    183.5      16.7    2,120.5   1,740.6    4,401.4
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    4,647.0
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    5,014.7
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    5,405.5

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    5,735.6
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    5,930.4
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    6,218.6
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    6,558.4
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    6,944.6
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    7,324.0
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    7,694.6
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    8,185.2
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    8,663.9
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    9,137.7

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    9,718.8
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   10,021.5
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   10,336.6
2003 \1\.........................   1,836.2  2,140.4    -304.2   1,304.7  1,772.3    -467.6     531.6    368.1     163.5    6,752.0   3,878.4   10,756.8
2004 \1\.........................   1,922.0  2,229.4    -307.4   1,365.9  1,847.9    -482.1     556.2    381.5     174.7    7,320.8   4,166.1   11,303.1

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\1\ 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 transition quarter is the 3-month period from July 1, 1976 through September 30, 1976.
Refunds of receipts are excluded from receipts and outlays.
See Budget of the United States Government, Fiscal Year 2004, for additional information.

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