[Economic Report of the President (2004)]
[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, 1939-2005
[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
--------------------------------------------------------------------------------------------------------------------------------------------------------
1939.............................       6.3      9.1      -2.8       5.8      9.2      -3.4       0.5     -0.0       0.5       48.2      41.4       89.1

1940.............................       6.5      9.5      -2.9       6.0      9.5      -3.5        .6      -.0        .6       50.7      42.8       96.8
1941.............................       8.7     13.7      -4.9       8.0     13.6      -5.6        .7       .0        .7       57.5      48.2      114.1
1942.............................      14.6     35.1     -20.5      13.7     35.1     -21.3        .9       .1        .8       79.2      67.8      144.3
1943.............................      24.0     78.6     -54.6      22.9     78.5     -55.6       1.1       .1       1.0      142.6     127.8      180.3
1944.............................      43.7     91.3     -47.6      42.5     91.2     -48.7       1.3       .1       1.2      204.1     184.8      209.2
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      222.7
1947.............................      38.5     34.5       4.0      37.1     34.2       2.9       1.5       .3       1.2      257.1     224.3      233.2
1948.............................      41.6     29.8      11.8      39.9     29.4      10.5       1.6       .4       1.2      252.0     216.3      256.7
1949.............................      39.4     38.8        .6      37.7     38.4       -.7       1.7       .4       1.3      252.6     214.3      271.3

1950.............................      39.4     42.6      -3.1      37.3     42.0      -4.7       2.1       .5       1.6      256.9     219.0      273.2
1951.............................      51.6     45.5       6.1      48.5     44.2       4.3       3.1      1.3       1.8      255.3     214.3      320.3
1952.............................      66.2     67.7      -1.5      62.6     66.0      -3.4       3.6      1.7       1.9      259.1     214.8      348.7
1953.............................      69.6     76.1      -6.5      65.5     73.8      -8.3       4.1      2.3       1.8      266.0     218.4      372.6
1954.............................      69.7     70.9      -1.2      65.1     67.9      -2.8       4.6      2.9       1.7      270.8     224.5      377.1
1955.............................      65.5     68.4      -3.0      60.4     64.5      -4.1       5.1      4.0       1.1      274.4     226.6      395.9
1956.............................      74.6     70.6       3.9      68.2     65.7       2.5       6.4      5.0       1.5      272.7     222.2      427.0
1957.............................      80.0     76.6       3.4      73.2     70.6       2.6       6.8      6.0        .8      272.3     219.3      450.9
1958.............................      79.6     82.4      -2.8      71.6     74.9      -3.3       8.0      7.5        .5      279.7     226.3      460.0
1959.............................      79.2     92.1     -12.8      71.0     83.1     -12.1       8.3      9.0       -.7      287.5     234.7      490.2

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      529.9
1962.............................      99.7    106.8      -7.1      87.4     93.3      -5.9      12.3     13.5      -1.3      302.9     248.0      567.8
1963.............................     106.6    111.3      -4.8      92.4     96.4      -4.0      14.2     15.0       -.8      310.3     254.0      599.2
1964.............................     112.6    118.5      -5.9      96.2    102.8      -6.5      16.4     15.7        .6      316.1     256.8      641.4
1965.............................     116.8    118.2      -1.4     100.1    101.7      -1.6      16.7     16.5        .2      322.3     260.8      687.5
1966.............................     130.8    134.5      -3.7     111.7    114.8      -3.1      19.1     19.7       -.6      328.5     263.7      755.8
1967.............................     148.8    157.5      -8.6     124.4    137.0     -12.6      24.4     20.4       4.0      340.4     266.6      810.2
1968.............................     153.0    178.1     -25.2     128.1    155.8     -27.7      24.9     22.3       2.6      368.7     289.5      868.5
1969.............................     186.9    183.6       3.2     157.9    158.4       -.5      29.0     25.2       3.7      365.8     278.1      948.3

1970.............................     192.8    195.6      -2.8     159.3    168.0      -8.7      33.5     27.6       5.9      380.9     283.2    1,012.9
1971.............................     187.1    210.2     -23.0     151.3    177.3     -26.1      35.8     32.8       3.0      408.2     303.0    1,080.3
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    1,311.0
1974.............................     263.2    269.4      -6.1     209.3    217.3      -8.0      53.9     52.1       1.8      483.9     343.7    1,438.9
1975.............................     279.1    332.3     -53.2     216.6    271.9     -55.3      62.5     60.4       2.0      541.9     394.7    1,560.8
1976.............................     298.1    371.8     -73.7     231.7    302.2     -70.5      66.4     69.6      -3.2      629.0     477.4    1,738.8
Transition quarter...............      81.2     96.0     -14.7      63.2     76.6     -13.3      18.0     19.4      -1.4      643.6     495.5      459.6
1977.............................     355.6    409.2     -53.7     278.7    328.5     -49.8      76.8     80.7      -3.9      706.4     549.1    1,974.4
1978.............................     399.6    458.7     -59.2     314.2    369.1     -54.9      85.4     89.7      -4.3      776.6     607.1    2,218.3
1979.............................     463.3    504.0     -40.7     365.3    404.1     -38.7      98.0    100.0      -2.0      829.5     640.3    2,502.4

1980.............................     517.1    590.9     -73.8     403.9    476.6     -72.7     113.2    114.3      -1.1      909.0     711.9    2,725.4
1981.............................     599.3    678.2     -79.0     469.1    543.0     -73.9     130.2    135.2      -5.0      994.8     789.4    3,058.6
1982.............................     617.8    745.7    -128.0     474.3    594.3    -120.0     143.5    151.4      -7.9    1,137.3     924.6    3,225.5
1983.............................     600.6    808.4    -207.8     453.2    661.3    -208.0     147.3    147.1        .2    1,371.7   1,137.3    3,442.7
1984.............................     666.5    851.9    -185.4     500.4    686.0    -185.6     166.1    165.8        .3    1,564.6   1,307.0    3,846.7
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    4,148.9
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    4,406.7
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    4,654.4
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    5,011.9
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    5,401.7

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    5,737.0
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    5,934.2
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    6,240.6
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    6,578.4
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    6,964.2
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    7,325.1
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    7,697.4
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    8,186.6
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    8,626.3
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    9,127.0

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    9,708.4
2001.............................   1,991.2  1,863.8     127.4   1,483.7  1,516.9     -33.3     507.5    346.8     160.7    5,769.9   3,319.6   10,040.7
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   10,373.4
2003.............................   1,782.3  2,157.6    -375.3   1,258.5  1,794.6    -536.1     523.8    363.0     160.8    6,760.0   3,913.6   10,828.3
2004 \1\.........................   1,798.1  2,318.8    -520.7   1,264.1  1,938.9    -674.8     534.0    380.0     154.0    7,486.4   4,420.8   11,466.0
2005 \1\.........................   2,036.3  2,399.8    -363.6   1,461.2  2,004.1    -542.9     575.1    395.7     179.4    8,132.9   4,791.9   12,042.4
--------------------------------------------------------------------------------------------------------------------------------------------------------
\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 2005, for additional information.

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