Categories
Economic Indicators

Federal finance

Federal finance – federal receipts, outlays, debt: 2002

FEDERAL RECEIPTS, OUTLAYS, AND DEBT

In the first 11 months of fiscal 2002, there was a deficit of

$200.2 billion, compared with a surplus of $91.8 billion

a year earlier.

[Billions of dollars]

Total

Surplus

Fiscal year or period Receipts Outlays or

deficit

(-)

1985 734.1 946.4 -212.3

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 (estimates) 1,867.4 2,032.5 -165.1

Cumulative total, first 11

months: (1)

Fiscal year 2001 1,832.4 1,740.7 91.8

Fiscal year 2002 1,660.5 1,860.7 -200.2

On-budget

Surplus

Fiscal year or period Receipts Outlays or

deficit

(-)

1985 547.9 769.6 -221.7

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 (estimates) 1,352.6 1,674.9 -322.3

Cumulative total, first 11

months: (1)

Fiscal year 2001 1,366.8 1,405.8 -39.0

Fiscal year 2002 1,189.7 1,547.0 -357.4

Off-budget

Surplus

Fiscal year or period Receipts Outlays or

deficit

(-)

1985 186.2 176.8 9.4

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 (estimates) 514.8 357.6 157.2

Cumulative total, first 11

months: (1)

Fiscal year 2001 465.6 334.8 130.8

Fiscal year 2002 470.9 313.7 157.2

Federal debt (end of

period)

Fiscal year or period

Gross Held by

Federal the public

1985 1,817.5 1,507.4

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 (estimates) 6,182.2 3,528.7

Cumulative total, first 11

months: (1)

Fiscal year 2001 5,728.1 3,318.0

Fiscal year 2002 6,179.5 3,544.9

(1) 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, 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 11 months of fiscal 2002, receipts were $171.9 billion

lower than a year earlier and outlays were $120.0 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

1985 734.1 334.5 61.3 265.2 73.1

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 (estimates) 1,867.4 873.2 144.8 702.9 146.5

Cumulative total, first 11 months: (1)

Fiscal year 2001 1,832.4 913.1 143.6 637.8 138.0

Fiscal year 2002 1,660.5 766.6 117.2 643.3 133.4

On-budget and off-budget outlays

National defense

Inter-

Depart- nation- Health

Fiscal year or Total ment of al

period Total Defense, affairs

military

1985 946.4 252.7 245.2 16.2 33.5

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 (estimates) 2,032.5 353.4 335.8 24.8 197.1

Cumulative total, first 11 months: (1)

Fiscal year 2001 1,740.7 280.5 268.1 15.2 157.8

Fiscal year 2002 1,860.7 319.2 305.0 21.4 179.4

On-budget and off-budget outlays

Net

Fiscal year or Medi- Income Social inter- Other

period care security security est

1985 65.8 129.0 188.6 129.5 131.0

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 (estimates) 226.4 313.7 456.4 171.4 289.3

Cumulative total, first 11 months: (1)

Fiscal year 2001 199.2 252.9 425.2 197.0 212.9

Fiscal year 2002 214.8 291.2 418.0 165.6 251.1

(1) 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 second quarter of 2002, according to received estimates,

Federal current receipts rose $4.3 billion (annual rate), while Federal

current expenditures rose $48.8 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-

reciepts cruals sal 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 (r) 1,884.7 (r) 874.8 170.5 108.4 (r) 731.1

II (r) 1,889.0 861.9 180.2 110.2 736.7

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

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 (r) -145.8

II (r) 214.9 46.3 .0 -190.3

Note.–See Note, p. 5.

Source: Department of Commerce, Bureau of Economic Analysis.

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