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Federal finance - income tax and public spending statistics
Economic Indicators, Dec, 2002
FEDERAL FINANCE
FEDERAL RECEIPTS, OUTLAYS, AND DEBT
In the first 2 months of fiscal 2003, there was a deficit of
$113.1 billion, compared with a deficit of $61.9 billion
a year earlier.
[GRAPHIC OMITTED]
[Billions of dollars]
Total
Surplus
Fiscal year or period Receipts Outlays or
deficit
(-)
1986 769.2 990.5 -221.2
1987 854.4 1,004.1 -149.8
1988 909.3 1,064.5 -155.2
1989 991.2 1,143.7 -152.5
1990 1,032.0 1,253.2 -221.2
1991 1,055.0 1,324.4 -269.4
1992 1,091.3 1,381.7 -290.4
1993 1,154.4 1,409.5 -255.1
1994 1,258.6 1,461.9 -203.3
1995 1,351.8 1,515.8 -164.0
1996 1,453.1 1,560.6 -107.5
1997 1,579.3 1,601.3 -22.0
1998 1,721.8 1,652.6 69.2
1999 1,827.5 1,701.9 125.5
2000 2,025.2 1,788.8 236.4
2001 1,991.0 1,863.9 127.1
2002 (1) 1,853.3 2,011.8 -158.5
2003 (estimates) 2,029.0 2,138.2 -109.2
Cumulative total, first 2
months: (2)
Fiscal year 2002 278.4 340.3 -61.9
Fiscal year 2003 244.6 357.7 -113.1
On-budget
Surplus
Fiscal year or period Receipts Outlays or
deficit
(-)
1986 569.0 807.0 -238.0
1987 641.0 810.3 -169.3
1988 667.8 861.8 -194.0
1989 727.5 932.8 -205.2
1990 750.3 1,028.1 -277.8
1991 761.2 1,082.7 -321.6
1992 788.9 1,129.3 -340.5
1993 842.5 1,142.9 -300.5
1994 923.6 1,182.5 -258.9
1995 1,000.8 1,227.2 -226.4
1996 1,085.6 1,259.7 -174.1
1997 1,187.3 1,290.7 -103.4
1998 1,306.0 1,336.0 -30.0
1999 1,383.0 1,381.2 1.8
2000 1,544.6 1,458.1 86.6
2001 1,483.5 1,517.1 -33.6
2002 (1) 1,338.0 1,656.1 -318.2
2003 (estimates) 1,489.0 1,771.2 -282.2
Cumulative total, first 2
months: (2)
Fiscal year 2002 205.4 274.4 -69.0
Fiscal year 2003 168.7 288.5 -119.7
Off-budget
Surplus
Fiscal year or period Receipts Outlays or
deficit
(-)
1986 200.2 183.5 16.7
1987 213.4 193.8 19.6
1988 241.5 202.7 38.8
1989 263.7 210.9 52.8
1990 281.7 225.1 56.6
1991 293.9 241.7 52.2
1992 302.4 252.3 50.1
1993 311.9 266.6 45.3
1994 335.0 279.4 55.7
1995 351.1 288.7 62.4
1996 367.5 300.9 66.6
1997 392.0 310.6 81.4
1998 415.8 316.6 99.2
1999 444.5 320.8 123.7
2000 480.6 330.8 149.8
2001 507.5 346.8 160.7
2002 (1) 515.3 355.7 159.7
2003 (estimates) 540.0 367.0 173.0
Cumulative total, first 2
months: (2)
Fiscal year 2002 73.0 65.9 7.1
Fiscal year 2003 75.9 69.2 6.6
Federal debt (end of
period)
Fiscal year or period
Gross Held by
Federal the public
1986 2,120.6 1,740.8
1987 2,346.1 1,889.9
1988 2,601.3 2,051.8
1989 2,868.0 2,191.0
1990 3,206.6 2,411.8
1991 3,598.5 2,689.3
1992 4,002.1 3,000.1
1993 4,351.4 3,248.8
1994 4,643.7 3,433.4
1995 4,921.0 3,604.8
1996 5,181.9 3,734.5
1997 5,369.7 3,772.8
1998 5,478.7 3,721.6
1999 5,606.1 3,632.9
2000 5,629.0 3,410.1
2001 5,770.3 3,320.0
2002 (1) 6,198.8 3,540.8
2003 (estimates) 6,561.0 3,654.8
Cumulative total, first 2
months: (2)
Fiscal year 2002 5,854.6 3,388.3
Fiscal year 2003 6,316.2 3,636.8
(1) Data from Final Monthly Treasury Statement, September 2002,
issued October 25, 2002.
(2) Data from current issue Monthly Treasury Statement.
NOTE.--Data for fiscal 2001 and 2003 are from Mid-Session Review,
Budget of the United States Government, Fiscal Year 2003, issued July
15, 2002. Other data (except as noted) are from Budget of the United
States Government, Fiscal Year 2003, issued February 4, 2002.
Sources: Department of the Treasury and Office of Management and
Budget.
FEDERAL RECEIPTS BY SOURCE AND
OUTLAYS BY FUNCTION
In the first 2 months of fiscal 2003, receipts were $33.8 billion
lower than a year earlier and outlays were $17.4 billion higher.
[GRAPHIC OMITTED]
[Billions of dollars]
On-budget and off-budget receipts
Social
Cor- insur-
Fiscal year or Indi- pora- ance
period Total vidual tion and Other
income income retire-
taxes taxes ment
receipts
1986 769.2 349.0 63.1 283.9 73.2
1987 854.4 392.6 83.9 303.3 74.6
1988 909.3 401.2 94.5 334.3 79.3
1989 991.2 445.7 103.3 359.4 82.8
1990 1,032.0 466.9 93.5 380.0 91.5
1991 1,055.0 467.8 98.1 396.0 93.1
1992 1,091.3 476.0 100.3 413.7 101.4
1993 1,154.4 509.7 117.5 428.3 98.9
1994 1,258.6 543.1 140.4 461.5 113.7
1995 1,351.8 590.2 157.0 484.5 120.1
1996 1,453.1 656.4 171.8 509.4 115.4
1997 1,579.3 737.5 182.3 539.4 120.2
1998 1,721.8 828.6 188.7 571.8 132.7
1999 1,827.5 879.5 184.7 611.8 151.5
2000 2,025.2 1,004.5 207.3 652.9 160.6
2001 1,991.0 994.3 151.1 694.0 151.6
2002 (1) 1,853.3 858.3 148.0 700.8 146.1
2003 (estimates) 2,029.0 963.6 176.8 738.1 150.5
Cumulative total, first 2 months: (2)
Fiscal year 2002 278.4 134.3 19.7 102.1 22.3
Fiscal year 2003 244.6 122.7 -6.6 105.4 23.2
On-budget and off-budget outlays
National defense
Inter-
Depart- nation- Health
Fiscal year or Total ment of al
period Total Defense, affairs
military
1986 990.5 273.4 265.5 14.2 35.9
1987 1,004.1 282.0 274.0 11.6 40.0
1988 1,064.5 290.4 281.9 10.5 44.5
1989 1,143.7 303.6 294.9 9.6 48.4
1990 1,253.2 299.3 289.8 13.8 57.7
1991 1,324.4 273.3 262.4 15.9 71.2
1992 1,381.7 298.4 286.9 16.1 89.5
1993 1,409.5 291.1 278.6 17.2 99.4
1994 1,461.9 281.6 268.6 17.1 107.1
1995 1,515.8 272.1 259.4 16.4 115.4
1996 1,560.6 265.8 253.2 13.5 119.4
1997 1,601.3 270.5 258.3 15.2 123.8
1998 1,652.6 268.5 256.1 13.1 131.4
1999 1,701.9 274.9 261.4 15.2 141.1
2000 1,788.8 294.5 281.2 17.2 154.5
2001 1,863.9 305.5 291.0 16.5 172.3
2002 (1) 2,011.8 347.7 332.1 22.5 196.3
2003 (estimates) 2,138.2 378.6 360.6 22.5 222.8
Cumulative total, first 2 months: (2)
Fiscal year 2002 340.3 57.4 54.7 5.1 32.8
Fiscal year 2003 357.7 63.3 60.0 4.2 36.4
On-budget and off-budget outlays
Net
Fiscal year or Medi- Income Social inter- Other
period care security security est
1986 70.2 120.6 198.8 136.0 141.4
1987 75.1 124.1 207.4 138.7 125.3
1988 78.9 130.4 219.3 151.8 138.7
1989 85.0 137.4 232.5 169.0 158.2
1990 98.1 148.7 248.6 184.4 202.6
1991 104.5 172.4 269.0 194.5 223.7
1992 119.0 199.5 287.6 199.4 172.2
1993 130.6 209.9 304.6 198.7 158.0
1994 144.7 217.1 319.6 203.0 171.7
1995 159.9 223.7 335.8 232.2 160.3
1996 174.2 229.7 349.7 241.1 167.3
1997 190.0 234.9 365.3 244.0 157.5
1998 192.8 237.7 379.2 241.2 188.8
1999 190.4 242.4 390.0 229.8 218.1
2000 197.1 253.5 409.4 223.0 239.5
2001 217.4 269.6 433.0 206.2 243.4
2002 (1) 230.9 311.7 456.4 171.2 275.2
2003 (estimates) 235.9 318.7 477.2 179.7 302.8
Cumulative total, first 2 months: (2)
Fiscal year 2002 38.9 46.9 72.9 32.0 54.4
Fiscal year 2003 43.9 52.9 76.9 28.9 51.1
(1) Data from Final Monthly Treasury Statement, September 2002,
issued October 25, 2002.
(2) Data from current issue Monthly Treasury Statement.
NOTE.--Data for fiscal 2001 and 2002 are from Mid-Session Review,
Budget of the United States Government, FY 2003, issued July 15, 2002.
Other data (except as noted) are from Budget of the United States
Government, Fiscal Year 2003, issued February 4, 2002.
Sources: Department of the Treasury and Office of Management and
Budget.
FEDERAL SECTOR, NATIONAL INCOME ACCOUNTS BASIS
In the third quarter of 2002, according to revised estimates,
Federal current receipts fell $9.7 billion (annual rate), while Federal
current expenditures fell $4.7 billion.
[GRAPHIC OMITTED]
[Billions of dollars; quarterly data at seasonally adjusted annual
rates]
Federal Government current receipts
Indirect Contri-
Cor- business butions
Personal porate tax and for
Period Total tax and profits nontax social
nontax tax ac- accru- insur-
receipts cruals als ance
Calendar year:
1992 1,121.3 479.4 118.8 81.3 441.8
1993 1,197.3 509.9 138.5 85.3 463.7
1994 1,293.7 547.8 156.7 95.2 493.9
1995 1,383.7 591.8 179.3 93.0 519.6
1996 1,499.1 670.0 190.6 95.1 543.3
1997 1,625.5 751.9 203.0 93.7 577.0
1998 1,749.7 834.9 204.2 97.4 613.1
1999 1,867.2 903.3 213.0 100.2 650.7
2000 2,033.9 1,009.0 223.8 109.1 692.1
2001 2,008.4 1,010.9 170.2 110.3 716.9
1999: I 1,823.2 875.0 208.9 97.5 641.8
II 1,847.1 891.2 211.4 98.2 646.3
III 1,876.3 911.2 211.7 100.8 652.6
IV 1,922.4 935.8 219.9 104.4 662.2
2000: I 2,009.6 984.5 233.7 107.0 684.5
II 2,022.9 997.2 230.5 109.5 685.7
III 2,049.1 1,020.5 222.1 109.8 696.6
IV 2,054.1 1,033.6 208.9 110.1 701.5
2001: I 2,072.9 1,057.9 186.9 112.3 715.8
II 2,072.3 1,059.8 183.2 112.2 717.1
III 1,896.0 900.4 168.0 109.5 718.1
IV 1,992.3 1,025.5 142.9 107.3 716.6
2002: I 1,884.7 874.8 170.5 108.4 731.1
II (r) 1,883.7 856.6 180.2 110.2 736.7
III (r) 1,874.0 837.5 181.1 112.4 743.0
Federal Government current expenditures
Grants-
in-aid
Con- to
sump- Trans- State
tion fer and
Period Total expen- pay- local
di- ments govern-
tures ments
Calendar year:
1992 1,418.9 445.8 565.2 149.1
1993 1,471.5 442.6 597.9 162.6
1994 1,506.0 439.7 618.6 174.5
1995 1,575.7 439.2 652.1 184.5
1996 1,635.9 445.3 691.6 190.4
1997 1,678.8 456.9 717.5 196.8
1998 1,705.9 453.1 730.6 210.3
1999 1,755.3 471.6 745.8 231.0
2000 1,827.1 493.3 779.5 247.5
2001 1,936.4 528.4 842.2 277.4
1999: I 1,734.5 465.5 739.1 224.9
II 1,734.2 461.6 743.2 222.2
III 1,758.9 473.4 743.9 234.9
IV 1,793.6 486.0 756.9 242.0
2000: I 1,786.4 480.0 758.5 239.4
II 1,825.7 501.3 774.6 242.2
III 1,835.9 494.2 781.3 253.8
IV 1,860.3 497.7 803.5 254.6
2001: I 1,899.1 517.3 816.3 266.8
II 1,927.8 524.9 832.2 281.9
III 1,947.7 527.9 849.3 271.4
IV 1,971.0 543.6 870.9 289.4
2002: I 2,030.5 566.3 916.9 292.3
II (r) 2,079.3 581.0 927.6 309.6
III (r) 2,074.6 589.8 934.1 305.0
Federal Government current
expenditures
Current
Subsi- surplus
dies less Less: or
current Wage deficit
Net surplus accru- (-),
Period interest of als less national
paid Govern- dis- income
ment burse- and
enter- ments product
prises accounts
Calendar year:
1992 229.2 29.6 0.0 -297.5
1993 230.2 38.2 .0 -274.1
1994 239.6 33.6 .0 -212.3
1995 267.5 32.4 .0 -192.0
1996 273.6 35.1 .0 -136.8
1997 276.2 31.5 .0 -53.3
1998 278.5 33.4 .0 43.8
1999 263.8 43.0 .0 111.9
2000 263.0 43.8 .0 206.9
2001 238.1 50.3 .0 72.0
1999: I 265.3 39.6 .0 88.7
II 264.2 42.8 .0 112.9
III 262.1 44.6 .0 117.4
IV 263.7 44.9 .0 128.8
2000: I 264.2 44.2 .0 223.2
II 264.1 43.5 .0 197.2
III 263.0 43.6 .0 213.2
IV 260.5 44.0 .0 193.8
2001: I 254.1 44.6 .0 173.8
II 243.1 45.6 .0 144.4
III 233.6 65.5 .0 -51.7
IV 221.6 45.5 .0 21.3
2002: I 208.5 46.6 .0 -145.8
II (r) 214.9 46.3 .0 -195.6
III (r) 205.8 39.9 .0 -200.7
Note.--See Note, p. 5.
Source: Department of Commerce, Bureau of Economic Analysis.
COPYRIGHT 2002 Superintendent Of Documents
COPYRIGHT 2003 Gale Group
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