[Economic Report of the President (2007)] [Administration of George W. Bush] [Online through the Government Printing Office, www.gpo.gov] Table B-81.--Federal receipts, outlays, surplus or deficit, and debt, fiscal years 2003-2008 [Millions of dollars; fiscal years] ---------------------------------------------------------------------------------------------------------------- Actual Estimates Description ----------------------------------------------------------------------- 2003 2004 2005 2006 2007 2008 ---------------------------------------------------------------------------------------------------------------- RECEIPTS AND OUTLAYS: Total receipts.......................... 1,782,532 1,880,279 2,153,859 2,407,254 2,540,096 2,662,474 Total outlays........................... 2,160,117 2,293,006 2,472,205 2,655,435 2,784,267 2,901,861 Total surplus or deficit (-).......... -377,585 -412,727 -318,346 -248,181 -244,171 -239,387 On-budget receipts...................... 1,258,690 1,345,534 1,576,383 1,798,872 1,905,966 1,988,389 On-budget outlays....................... 1,797,108 1,913,495 2,069,994 2,233,366 2,332,984 2,439,334 On-budget surplus or deficit (-).... -538,418 -567,961 -493,611 -434,494 -427,018 -450,945 Off-budget receipts..................... 523,842 534,745 577,476 608,382 634,130 674,085 Off-budget outlays...................... 363,009 379,511 402,211 422,069 451,283 462,527 Off-budget surplus or deficit (-)..... 160,833 155,234 175,265 186,313 182,847 211,558 OUTSTANDING DEBT, END OF PERIOD: Gross Federal debt...................... 6,760,014 7,354,673 7,905,300 8,451,351 9,007,765 9,575,497 Held by Federal Government accounts... 2,846,570 3,059,129 3,313,088 3,622,378 3,924,487 4,230,058 Held by the public.................... 3,913,443 4,295,544 4,592,213 4,828,973 5,083,278 5,345,439 Federal Reserve System.............. 656,116 700,341 736,360 768,924 .......... .......... Other............................... 3,257,327 3,595,203 3,855,853 4,060,049 .......... .......... ---------------------------------------------------------------------------------------------------------------- RECEIPTS: ON-BUDGET AND OFF-BUDGET...... 1,782,532 1,880,279 2,153,859 2,407,254 2,540,096 2,662,474 Individual income taxes................. 793,699 808,959 927,222 1,043,908 1,168,846 1,246,614 Corporation income taxes................ 131,778 189,371 278,282 353,915 342,057 314,941 Social insurance and retirement receipts 712,978 733,407 794,125 837,821 873,377 927,195 On-budget............................. 189,136 198,662 216,649 229,439 239,247 253,110 Off-budget............................ 523,842 534,745 577,476 608,382 634,130 674,085 Excise taxes............................ 67,524 69,855 73,094 73,961 57,062 68,106 Estate and gift taxes................... 21,959 24,831 24,764 27,877 25,277 25,705 Customs duties and fees................. 19,862 21,083 23,379 24,810 26,766 29,223 Miscellaneous receipts.................. 34,732 32,773 32,993 44,962 46,711 50,690 Deposits of earnings by Federal Reserve System...................... 21,878 19,652 19,297 29,945 32,638 36,115 All other............................. 12,854 13,121 13,696 15,017 14,073 14,575 OUTLAYS: ON-BUDGET AND OFF-BUDGET....... 2,160,117 2,293,006 2,472,205 2,655,435 2,784,267 2,901,861 National defense........................ 404,778 455,847 495,326 521,840 571,869 606,546 International affairs................... 21,209 26,891 34,595 29,549 35,071 36,149 General science, space and technology... 20,873 23,053 23,628 23,616 24,862 26,636 Energy.................................. -735 -166 429 782 1,836 1,405 Natural resources and environment....... 29,703 30,725 28,023 33,055 35,203 32,904 Agriculture............................. 22,497 15,440 26,566 25,970 20,116 19,869 Commerce and housing credit............. 728 5,266 7,567 6,188 210 -2,040 On-budget............................. 5,973 9,396 9,358 7,263 -2,432 247 Off-budget............................ -5,245 -4,130 -1,791 -1,075 2,642 -2,287 Transportation.......................... 67,069 64,627 67,894 70,244 74,607 79,282 Community and regional development...... 18,850 15,822 26,264 54,531 32,606 24,652 Education, training, employment, and 82,603 87,990 97,567 118,560 93,957 82,732 social services........................ Health.................................. 219,576 240,134 250,614 252,780 268,543 280,620 Medicare................................ 249,433 269,360 298,638 329,868 372,252 391,646 Income security......................... 334,632 333,059 345,847 352,477 365,371 380,815 Social security......................... 474,680 495,548 523,305 548,549 586,538 612,505 On-budget............................. 13,279 14,348 16,526 16,058 19,359 19,965 Off-budget............................ 461,401 481,200 506,779 532,491 567,179 592,540 Veterans benefits and services.......... 57,022 59,779 70,151 69,842 72,401 83,361 Administration of justice............... 35,340 45,576 40,019 41,016 45,307 46,960 General government...................... 23,168 22,347 17,010 18,215 18,761 20,739 Net interest............................ 153,073 160,245 183,986 226,603 239,153 261,276 On-budget............................. 236,618 246,473 275,822 324,325 345,402 375,894 Off-budget............................ -83,545 -86,228 -91,836 -97,722 -106,249 -114,618 Allowances.............................. .......... .......... .......... .......... 7,428 2,061 Undistributed offsetting receipts....... -54,382 -58,537 -65,224 -68,250 -81,824 -86,257 On-budget............................. -44,780 -47,206 -54,283 -56,625 -69,535 -73,149 Off-budget............................ -9,602 -11,331 -10,941 -11,625 -12,289 -13,108 ---------------------------------------------------------------------------------------------------------------- Note.--See Note, Table B-78. Sources: Department of the Treasury and Office of Management and Budget.