[Economic Report of the President (2007)] [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, fiscal years, 1940-2008 [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 -------------------------------------------------------------------------------------------------------------------------------------------------------- 1940............................. 6.5 9.5 -2.9 6.0 9.5 -3.5 0.6 -0.0 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 1.2 252.0 216.3 256.0 1949............................. 39.4 38.8 .6 37.7 38.4 -.7 1.7 .4 1.3 252.6 214.3 271.1 1950............................. 39.4 42.6 -3.1 37.3 42.0 -4.7 2.1 .5 1.6 256.9 219.0 273.0 1951............................. 51.6 45.5 6.1 48.5 44.2 4.3 3.1 1.3 1.8 255.3 214.3 320.6 1952............................. 66.2 67.7 -1.5 62.6 66.0 -3.4 3.6 1.7 1.9 259.1 214.8 348.6 1953............................. 69.6 76.1 -6.5 65.5 73.8 -8.3 4.1 2.3 1.8 266.0 218.4 372.9 1954............................. 69.7 70.9 -1.2 65.1 67.9 -2.8 4.6 2.9 1.7 270.8 224.5 377.3 1955............................. 65.5 68.4 -3.0 60.4 64.5 -4.1 5.1 4.0 1.1 274.4 226.6 394.6 1956............................. 74.6 70.6 3.9 68.2 65.7 2.5 6.4 5.0 1.5 272.7 222.2 427.2 1957............................. 80.0 76.6 3.4 73.2 70.6 2.6 6.8 6.0 .8 272.3 219.3 450.3 1958............................. 79.6 82.4 -2.8 71.6 74.9 -3.3 8.0 7.5 .5 279.7 226.3 460.5 1959............................. 79.2 92.1 -12.8 71.0 83.1 -12.1 8.3 9.0 -.7 287.5 234.7 491.5 1960............................. 92.5 92.2 .3 81.9 81.3 .5 10.6 10.9 -.2 290.5 236.8 517.9 1961............................. 94.4 97.7 -3.3 82.3 86.0 -3.8 12.1 11.7 .4 292.6 238.4 530.8 1962............................. 99.7 106.8 -7.1 87.4 93.3 -5.9 12.3 13.5 -1.3 302.9 248.0 567.6 1963............................. 106.6 111.3 -4.8 92.4 96.4 -4.0 14.2 15.0 -.8 310.3 254.0 598.7 1964............................. 112.6 118.5 -5.9 96.2 102.8 -6.5 16.4 15.7 .6 316.1 256.8 640.4 1965............................. 116.8 118.2 -1.4 100.1 101.7 -1.6 16.7 16.5 .2 322.3 260.8 687.1 1966............................. 130.8 134.5 -3.7 111.7 114.8 -3.1 19.1 19.7 -.6 328.5 263.7 752.9 1967............................. 148.8 157.5 -8.6 124.4 137.0 -12.6 24.4 20.4 4.0 340.4 266.6 811.8 1968............................. 153.0 178.1 -25.2 128.1 155.8 -27.7 24.9 22.3 2.6 368.7 289.5 866.6 1969............................. 186.9 183.6 3.2 157.9 158.4 -.5 29.0 25.2 3.7 365.8 278.1 948.6 1970............................. 192.8 195.6 -2.8 159.3 168.0 -8.7 33.5 27.6 5.9 380.9 283.2 1,012.2 1971............................. 187.1 210.2 -23.0 151.3 177.3 -26.1 35.8 32.8 3.0 408.2 303.0 1,079.9 1972............................. 207.3 230.7 -23.4 167.4 193.5 -26.1 39.9 37.2 2.7 435.9 322.4 1,178.3 1973............................. 230.8 245.7 -14.9 184.7 200.0 -15.2 46.1 45.7 .3 466.3 340.9 1,307.6 1974............................. 263.2 269.4 -6.1 209.3 216.5 -7.2 53.9 52.9 1.1 483.9 343.7 1,439.3 1975............................. 279.1 332.3 -53.2 216.6 270.8 -54.1 62.5 61.6 .9 541.9 394.7 1,560.7 1976............................. 298.1 371.8 -73.7 231.7 301.1 -69.4 66.4 70.7 -4.3 629.0 477.4 1,736.5 Transition quarter............... 81.2 96.0 -14.7 63.2 77.3 -14.1 18.0 18.7 -.7 643.6 495.5 456.7 1977............................. 355.6 409.2 -53.7 278.7 328.7 -49.9 76.8 80.5 -3.7 706.4 549.1 1,974.3 1978............................. 399.6 458.7 -59.2 314.2 369.6 -55.4 85.4 89.2 -3.8 776.6 607.1 2,217.0 1979............................. 463.3 504.0 -40.7 365.3 404.9 -39.6 98.0 99.1 -1.1 829.5 640.3 2,500.7 1980............................. 517.1 590.9 -73.8 403.9 477.0 -73.1 113.2 113.9 -.7 909.0 711.9 2,726.7 1981............................. 599.3 678.2 -79.0 469.1 543.0 -73.9 130.2 135.3 -5.1 994.8 789.4 3,054.7 1982............................. 617.8 745.7 -128.0 474.3 594.9 -120.6 143.5 150.9 -7.4 1,137.3 924.6 3,227.6 1983............................. 600.6 808.4 -207.8 453.2 660.9 -207.7 147.3 147.4 -.1 1,371.7 1,137.3 3,440.7 1984............................. 666.5 851.9 -185.4 500.4 685.7 -185.3 166.1 166.2 -.1 1,564.6 1,307.0 3,840.2 1985............................. 734.1 946.4 -212.3 547.9 769.4 -221.5 186.2 176.9 9.2 1,817.4 1,507.3 4,141.5 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 4,412.4 1987............................. 854.4 1,004.1 -149.7 641.0 809.3 -168.4 213.4 194.8 18.6 2,346.0 1,889.8 4,647.1 1988............................. 909.3 1,064.5 -155.2 667.8 860.1 -192.3 241.5 204.4 37.1 2,601.1 2,051.6 5,008.6 1989............................. 991.2 1,143.8 -152.6 727.5 932.9 -205.4 263.7 210.9 52.8 2,867.8 2,190.7 5,400.5 1990............................. 1,032.1 1,253.1 -221.0 750.4 1,028.1 -277.6 281.7 225.1 56.6 3,206.3 2,411.6 5,735.4 1991............................. 1,055.1 1,324.3 -269.2 761.2 1,082.6 -321.4 293.9 241.7 52.2 3,598.2 2,689.0 5,935.1 1992............................. 1,091.3 1,381.6 -290.3 788.9 1,129.3 -340.4 302.4 252.3 50.1 4,001.8 2,999.7 6,239.9 1993............................. 1,154.5 1,409.5 -255.1 842.5 1,142.9 -300.4 311.9 266.6 45.3 4,351.0 3,248.4 6,575.5 1994............................. 1,258.7 1,461.9 -203.2 923.7 1,182.5 -258.8 335.0 279.4 55.7 4,643.3 3,433.1 6,961.3 1995............................. 1,351.9 1,515.9 -164.0 1,000.9 1,227.2 -226.4 351.1 288.7 62.4 4,920.6 3,604.4 7,325.8 1996............................. 1,453.2 1,560.6 -107.4 1,085.7 1,259.7 -174.0 367.5 300.9 66.6 5,181.5 3,734.1 7,694.1 1997............................. 1,579.4 1,601.3 -21.9 1,187.4 1,290.7 -103.2 392.0 310.6 81.4 5,369.2 3,772.3 8,182.4 1998............................. 1,722.0 1,652.7 69.3 1,306.2 1,336.1 -29.9 415.8 316.6 99.2 5,478.2 3,721.1 8,627.9 1999............................. 1,827.6 1,702.0 125.6 1,383.2 1,381.3 1.9 444.5 320.8 123.7 5,605.5 3,632.4 9,125.3 2000............................. 2,025.5 1,789.2 236.2 1,544.9 1,458.5 86.4 480.6 330.8 149.8 5,628.7 3,409.8 9,709.8 2001............................. 1,991.4 1,863.2 128.2 1,483.9 1,516.4 -32.4 507.5 346.8 160.7 5,769.9 3,319.6 10,057.9 2002............................. 1,853.4 2,011.2 -157.8 1,338.1 1,655.5 -317.4 515.3 355.7 159.7 6,198.4 3,540.4 10,377.4 2003............................. 1,782.5 2,160.1 -377.6 1,258.7 1,797.1 -538.4 523.8 363.0 160.8 6,760.0 3,913.4 10,808.6 2004............................. 1,880.3 2,293.0 -412.7 1,345.5 1,913.5 -568.0 534.7 379.5 155.2 7,354.7 4,295.5 11,517.5 2005............................. 2,153.9 2,472.2 -318.3 1,576.4 2,070.0 -493.6 577.5 402.2 175.3 7,905.3 4,592.2 12,265.8 2006............................. 2,407.3 2,655.4 -248.2 1,798.9 2,233.4 -434.5 608.4 422.1 186.3 8,451.4 4,829.0 13,061.1 2007 (estimates)................. 2,540.1 2,784.3 -244.2 1,906.0 2,333.0 -427.0 634.1 451.3 182.8 9,007.8 5,083.3 13,761.2 2008 (estimates)................. 2,662.5 2,901.9 -239.4 1,988.4 2,439.3 -450.9 674.1 462.5 211.6 9,575.5 5,345.4 14,515.0 -------------------------------------------------------------------------------------------------------------------------------------------------------- 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. See Budget of the United States Government, Fiscal Year 2008, for additional information. Sources: Department of Commerce (Bureau of Economic Analysis), Department of the Treasury, and Office of Management and Budget.