[Historical Tables]
[Section 14 - Federal Sector Transactions in the National Income and Product Accounts]
[Table 14.1 - Federal Transactions in the National Income and Product Accounts for Federal Fiscal Years: 1948-2008]
[From the U.S. Government Printing Office, www.gpo.gov]


[[Page 300]]

 
    Table 14.1--FEDERAL TRANSACTIONS IN THE NATIONAL INCOME AND PRODUCT ACCOUNTS FOR FEDERAL FISCAL YEARS: 1948-2008
                                                                (in billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                          1948       1949       1950       1951       1952       1953       1954       1955       1956
--------------------------------------------------------------------------------------------------------------------------------------------------------
                   Current Receipts
Current tax receipts.................................      38.0       34.2       35.6       53.6       56.9       60.8       56.8       57.5       64.6
  Personal current taxes.............................     (19.1)     (15.5)     (15.7)     (22.5)     (27.9)     (30.5)     (29.4)     (28.8)     (32.5)
  Taxes on production and imports....................      (7.8)      (7.9)      (8.0)      (9.3)      (9.5)     (10.6)     (10.2)      (9.8)     (10.6)
  Taxes on corporate income..........................     (11.2)     (10.8)     (11.8)     (21.7)     (19.4)     (19.7)     (17.3)     (18.9)     (21.5)
Contributions for gov. social insurance..............       4.6        4.6        4.9        6.0        6.6        6.8        7.4        8.3        9.5
Current transfer receipts............................       0.3        0.3        0.3        0.2        0.3        0.3        0.3        0.3        0.4
                                                      --------------------------------------------------------------------------------------------------
  Total current receipts.............................      42.9       39.1       40.8       59.8       63.7       67.9       64.5       66.1       74.4
                                                      ==================================================================================================
                 Current Expenditures
Consumption expenditures.............................      19.9       23.2       22.3       26.4       39.9       47.6       46.4       42.7       45.2
  Defense............................................     (16.3)     (17.0)     (16.0)     (22.6)     (35.3)     (41.2)     (39.6)     (36.1)     (38.1)
  Nondefense.........................................      (3.6)      (6.2)      (6.3)      (3.8)      (4.6)      (6.4)      (6.9)      (6.6)      (7.1)
Current Transfer payments............................      12.5       14.4       17.1       12.6       12.5       12.9       13.7       15.7       16.1
  Government social benefits.........................      (8.2)      (7.6)     (10.8)      (7.5)      (7.9)      (8.5)      (9.7)     (11.3)     (11.8)
  Grants to State and local governments..............      (1.6)      (1.8)      (2.0)      (2.0)      (2.0)      (2.2)      (2.3)      (2.3)      (2.4)
  Other transfers to the rest of the world...........      (2.6)      (5.0)      (4.3)      (3.2)      (2.6)      (2.1)      (1.7)      (2.1)      (1.9)
Interest payments....................................       4.1        4.3        4.4        4.6        4.7        4.7        4.8        4.8        4.9
Subsidies............................................       0.5        0.7        0.8        1.2        1.0        0.8        0.6        0.6        0.7
Wage disbursements less accruals.....................  .........  .........  .........        -*         -*          *          *       -0.1        0.1
                                                      --------------------------------------------------------------------------------------------------
  Total current expenditures.........................      37.0       42.6       44.6       44.8       58.1       65.9       65.6       63.6       67.1
                                                      ==================================================================================================
  Net Federal Government Saving......................       6.0       -3.5       -3.8       15.0        5.7        1.9       -1.1        2.5        7.3
 
      Addendum: Total Receipts and Expenditures
Current receipts.....................................       N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A
Capital transfer receipts............................       N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A
                                                      --------------------------------------------------------------------------------------------------
  Total receipts.....................................       N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A
                                                      --------------------------------------------------------------------------------------------------
Current expenditures.................................       N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A
Net investment:
  Gross government investment........................       N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A
    Defense..........................................      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)
    Nondefense.......................................      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)
  Less: Consumption of fixed capital.................       N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A
    Defense..........................................      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)
    Nondefense.......................................      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)      (N/A)
Capital transfer payments............................       N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A
Net purchases of nonproduced assets..................       N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A
                                                      --------------------------------------------------------------------------------------------------
  Total expenditures.................................       N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A
                                                      ==================================================================================================
  Net Lending or Borrowing (-).......................       N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A        N/A
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.


[[Page 301]]


               Table 14.1--FEDERAL TRANSACTIONS IN THE NATIONAL INCOME AND PRODUCT ACCOUNTS FOR FEDERAL FISCAL YEARS: 1948-2008--Continued
                                                                (in billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                          1957       1958       1959       1960       1961       1962       1963       1964       1965
--------------------------------------------------------------------------------------------------------------------------------------------------------
                   Current Receipts
Current tax receipts.................................      67.7       64.2       70.0       76.1       74.8       81.8       85.3       89.2       92.1
  Personal current taxes.............................     (35.3)     (35.0)     (36.9)     (40.9)     (41.7)     (45.3)     (47.4)     (48.2)     (48.6)
  Taxes on production and imports....................     (11.5)     (11.3)     (11.7)     (12.9)     (12.9)     (13.7)     (14.5)     (15.1)     (16.0)
  Taxes on corporate income..........................     (20.8)     (17.9)     (21.5)     (22.3)     (20.1)     (22.6)     (23.2)     (25.7)     (27.3)
  Other taxes from the rest of the world.............  .........  .........        (*)      (0.1)      (0.1)      (0.1)      (0.2)      (0.2)      (0.2)
Contributions for gov. social insurance..............      10.5       11.0       12.3       15.2       16.4       18.0       20.1       21.5       22.2
Income receipts on assets............................  .........  .........         *        0.6        1.4        1.6        1.7        1.8        1.9
Current transfer receipts............................       0.4        0.4        0.4        0.4        0.5        0.5        0.6        0.6        1.0
Current surplus of government enterprises............  .........  .........      -0.1       -0.2       -0.5       -0.4       -0.4       -0.2       -0.3
                                                      --------------------------------------------------------------------------------------------------
  Total current receipts.............................      78.5       75.5       82.7       92.1       92.6      101.4      107.3      112.8      116.8
                                                      ==================================================================================================
                 Current Expenditures
Consumption expenditures.............................      47.1       50.1       50.7       49.5       51.3       54.6       58.7       62.6       62.7
  Defense............................................     (40.9)     (43.7)     (41.9)     (40.2)     (42.4)     (45.0)     (46.7)     (49.2)     (48.4)
  Nondefense.........................................      (6.1)      (6.3)      (8.8)      (9.4)      (8.9)      (9.5)     (12.0)     (13.4)     (14.3)
Current Transfer payments............................      17.9       21.3       25.0       26.8       29.8       31.7       33.4       34.6       36.1
  Government social benefits.........................     (13.3)     (16.6)     (18.4)     (19.1)     (22.1)     (23.4)     (24.5)     (25.1)     (25.8)
  Grants to State and local governments..............      (2.7)      (3.0)      (3.7)      (4.0)      (4.3)      (4.8)      (5.3)      (6.1)      (6.8)
  Other transfers to the rest of the world...........      (1.9)      (1.8)      (3.0)      (3.7)      (3.5)      (3.6)      (3.7)      (3.3)      (3.5)
Interest payments....................................       5.5        5.5        5.7        7.6        8.0        8.2        9.0        9.7       10.3
Subsidies............................................       1.6        1.5        1.4        1.1        1.5        2.1        2.2        2.4        2.8
Wage disbursements less accruals.....................  .........      -0.3        0.3   .........  .........  .........  .........  .........  .........
                                                      --------------------------------------------------------------------------------------------------
  Total current expenditures.........................      72.1       78.1       83.1       85.0       90.6       96.6      103.3      109.3      111.9
                                                      ==================================================================================================
  Net Federal Government Saving......................       6.5       -2.6       -0.4        7.1        2.0        4.9        3.9        3.5        4.9
 
      Addendum: Total Receipts and Expenditures
Current receipts.....................................       N/A        N/A        N/A       92.1       92.6      101.4      107.3      112.8      116.8
Capital transfer receipts............................       N/A        N/A        N/A        1.6        1.9        2.0        2.2        2.4        2.7
                                                      --------------------------------------------------------------------------------------------------
  Total receipts.....................................       N/A        N/A        N/A       93.7       94.5      103.5      109.4      115.2      119.5
                                                      --------------------------------------------------------------------------------------------------
Current expenditures.................................       N/A        N/A        N/A       85.0       90.6       96.6      103.3      109.3      111.9
Net investment:
  Gross government investment........................       N/A        N/A        N/A       14.6       15.3       16.9       16.8       16.0       15.1
    Defense..........................................      (N/A)      (N/A)      (N/A)     (12.8)     (13.0)     (14.3)     (13.6)     (12.2)     (10.7)
    Nondefense.......................................      (N/A)      (N/A)      (N/A)      (1.8)      (2.2)      (2.6)      (3.2)      (3.8)      (4.4)
  Less: Consumption of fixed capital.................       N/A        N/A        N/A      -10.4      -10.7      -11.1      -11.9      -12.2      -12.5
    Defense..........................................      (N/A)      (N/A)      (N/A)     (-9.6)     (-9.9)    (-10.3)    (-10.9)    (-11.1)    (-11.2)
    Nondefense.......................................      (N/A)      (N/A)      (N/A)     (-0.8)     (-0.8)     (-0.9)     (-1.0)     (-1.1)     (-1.3)
Capital transfer payments............................       N/A        N/A        N/A        2.9        2.7        3.0        3.1        3.8        4.2
Net purchases of nonproduced assets..................       N/A        N/A        N/A        0.5        0.5        0.6        0.6        0.7        0.4
                                                      --------------------------------------------------------------------------------------------------
  Total expenditures.................................       N/A        N/A        N/A       92.6       98.3      105.9      111.9      117.5      119.1
                                                      ==================================================================================================
  Net Lending or Borrowing (-).......................       N/A        N/A        N/A        1.1       -3.9       -2.4       -2.5       -2.3        0.4
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.


[[Page 302]]


               Table 14.1--FEDERAL TRANSACTIONS IN THE NATIONAL INCOME AND PRODUCT ACCOUNTS FOR FEDERAL FISCAL YEARS: 1948-2008--Continued
                                                                (in billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                          1966       1967       1968       1969       1970       1971       1972       1973       1974
--------------------------------------------------------------------------------------------------------------------------------------------------------
                   Current Receipts
Current tax receipts.................................      99.8      106.9      117.4      141.7      141.6      135.5      148.4      162.5      181.7
  Personal current taxes.............................     (54.4)     (61.5)     (68.3)     (86.9)     (90.2)     (84.2)     (95.0)    (102.5)    (117.7)
  Taxes on production and imports....................     (14.5)     (14.7)     (16.1)     (17.6)     (18.1)     (18.9)     (18.6)     (19.2)     (20.1)
  Taxes on corporate income..........................     (30.6)     (30.5)     (32.8)     (36.8)     (32.9)     (32.1)     (34.4)     (40.4)     (43.5)
  Other taxes from the rest of the world.............      (0.2)      (0.2)      (0.3)      (0.4)      (0.4)      (0.4)      (0.4)      (0.4)      (0.4)
Contributions for gov. social insurance..............      26.1       33.1       35.5       40.9       45.0       48.3       54.3       66.2       78.3
Income receipts on assets............................       1.9        2.3        2.8        2.8        2.9        3.2        3.6        3.8        3.9
Current transfer receipts............................       1.1        1.1        1.1        1.1        1.2        1.1        1.2        1.4        1.2
Current surplus of government enterprises............      -0.5       -0.7       -0.5       -0.4       -1.0       -1.6       -1.3       -1.4       -2.2
                                                      --------------------------------------------------------------------------------------------------
  Total current receipts.............................     128.4      142.6      156.3      186.0      189.7      186.4      206.2      232.5      262.9
                                                      ==================================================================================================
                 Current Expenditures
Consumption expenditures.............................      70.6       82.8       91.6       96.5       99.3      100.3      105.5      108.1      111.9
  Defense............................................     (55.0)     (65.8)     (74.2)     (77.0)     (77.9)     (77.2)     (78.6)     (79.1)     (81.3)
  Nondefense.........................................     (15.6)     (17.0)     (17.4)     (19.5)     (21.4)     (23.1)     (26.9)     (29.0)     (30.5)
Current Transfer payments............................      41.1       48.5       56.1       62.1       71.8       88.6      103.0      119.9      132.6
  Government social benefits.........................     (28.8)     (33.9)     (39.4)     (44.5)     (50.3)     (62.1)     (69.6)     (79.6)     (92.5)
  Grants to State and local governments..............      (8.6)     (10.7)     (12.8)     (13.2)     (17.0)     (21.4)     (27.0)     (34.2)     (34.7)
  Other transfers to the rest of the world...........      (3.8)      (3.8)      (3.9)      (4.5)      (4.4)      (5.2)      (6.4)      (6.1)      (5.4)
Interest payments....................................      11.0       12.2       13.5       15.2       17.0       17.6       18.3       20.4       24.6
Subsidies............................................       3.0        4.1        3.6        4.1        4.3        5.1        5.1        7.0        4.9
Wage disbursements less accruals.....................  .........  .........  .........  .........      -0.1        0.1   .........      -0.5        0.1
                                                      --------------------------------------------------------------------------------------------------
  Total current expenditures.........................     125.7      147.6      164.8      177.9      192.3      211.7      232.0      254.8      274.1
                                                      ==================================================================================================
  Net Federal Government Saving......................       2.7       -4.9       -8.5        8.1       -2.6      -25.4      -25.8      -22.2      -11.2
 
      Addendum: Total Receipts and Expenditures
Current receipts.....................................     128.4      142.6      156.3      186.0      189.7      186.4      206.2      232.5      262.9
Capital transfer receipts............................       3.1        3.0        3.0        3.5        3.6        3.7        5.4        4.9        5.0
                                                      --------------------------------------------------------------------------------------------------
  Total receipts.....................................     131.5      145.6      159.4      189.5      193.3      190.1      211.6      237.4      268.0
                                                      --------------------------------------------------------------------------------------------------
Current expenditures.................................     125.7      147.6      164.8      177.9      192.3      211.7      232.0      254.8      274.1
Net investment:
  Gross government investment........................      15.3       17.5       17.2       15.6       14.6       13.2       12.0       13.1       14.2
    Defense..........................................     (10.4)     (12.9)     (13.2)     (11.9)     (11.0)      (9.3)      (7.6)      (8.4)      (9.1)
    Nondefense.......................................      (4.9)      (4.6)      (4.0)      (3.7)      (3.6)      (4.0)      (4.4)      (4.7)      (5.1)
  Less: Consumption of fixed capital.................     -12.8      -13.7      -14.4      -15.1      -15.8      -16.4      -16.5      -16.8      -17.4
    Defense..........................................    (-11.4)    (-11.8)    (-12.4)    (-13.0)    (-13.4)    (-13.8)    (-13.8)    (-13.9)    (-14.2)
    Nondefense.......................................     (-1.5)     (-1.8)     (-2.0)     (-2.2)     (-2.4)     (-2.6)     (-2.8)     (-3.0)     (-3.2)
Capital transfer payments............................       4.2        4.2        5.2        6.1        5.6        5.5        5.8        6.3        7.1
Net purchases of nonproduced assets..................       0.7       -0.1       -0.6       -0.1         -*       -0.7        0.2       -2.4       -6.0
                                                      --------------------------------------------------------------------------------------------------
  Total expenditures.................................     133.0      155.4      172.1      184.4      196.7      213.4      233.5      254.9      271.9
                                                      ==================================================================================================
  Net Lending or Borrowing (-).......................      -1.5       -9.8      -12.8        5.1       -3.4      -23.3      -21.9      -17.5       -4.0
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.


[[Page 303]]


               Table 14.1--FEDERAL TRANSACTIONS IN THE NATIONAL INCOME AND PRODUCT ACCOUNTS FOR FEDERAL FISCAL YEARS: 1948-2008--Continued
                                                                (in billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                          1975       1976       1977       1978       1979       1980       1981       1982       1983
--------------------------------------------------------------------------------------------------------------------------------------------------------
                   Current Receipts
Current tax receipts.................................     186.2      206.2      241.1      273.7      318.9      346.3      399.1      397.4      384.3
  Personal current taxes.............................    (122.8)    (131.6)    (158.1)    (180.6)    (216.7)    (243.1)    (281.5)    (300.4)    (284.2)
  Taxes on production and imports....................     (20.6)     (22.5)     (22.5)     (24.7)     (26.0)     (31.2)     (47.4)     (43.4)     (43.3)
  Taxes on corporate income..........................     (42.5)     (51.5)     (59.8)     (67.5)     (75.1)     (70.5)     (68.7)     (52.2)     (55.5)
  Other taxes from the rest of the world.............      (0.4)      (0.6)      (0.7)      (0.9)      (1.1)      (1.5)      (1.6)      (1.4)      (1.3)
Contributions for gov. social insurance..............      85.6       94.0      108.5      124.2      142.8      158.9      185.1      202.8      217.1
Income receipts on assets............................       4.5        5.4        6.5        7.9       10.1       12.7       17.1       21.6       23.3
Current transfer receipts............................       1.5        1.5        1.8        2.3        2.7        3.1        3.9        4.8        5.7
Current surplus of government enterprises............      -3.0       -3.1       -2.9       -2.7       -2.0       -3.5       -3.3       -2.1       -2.8
                                                      --------------------------------------------------------------------------------------------------
  Total current receipts.............................     274.7      304.0      355.1      405.3      472.4      517.5      601.9      624.4      627.6
                                                      ==================================================================================================
                 Current Expenditures
Consumption expenditures.............................     125.0      134.1      147.4      160.3      174.8      199.8      231.1      256.9      285.0
  Defense............................................     (88.0)     (93.7)    (102.1)    (110.6)    (120.4)    (138.0)    (161.4)    (185.7)    (205.6)
  Nondefense.........................................     (37.0)     (40.4)     (45.3)     (49.7)     (54.4)     (61.8)     (69.7)     (71.2)     (79.5)
Current Transfer payments............................     165.7      190.7      209.0      227.8      247.4      286.7      324.6      347.5      382.1
  Government social benefits.........................    (119.3)    (139.7)    (150.5)    (160.6)    (177.4)    (210.4)    (244.6)    (272.4)    (304.6)
  Grants to State and local governments..............     (40.4)     (47.8)     (55.1)     (63.5)     (65.9)     (70.9)     (73.8)     (68.9)     (71.1)
  Other transfers to the rest of the world...........      (6.1)      (3.2)      (3.3)      (3.6)      (4.2)      (5.4)      (6.1)      (6.2)      (6.4)
Interest payments....................................      27.3       31.5       36.2       42.8       52.8       65.9       86.6      107.8      120.1
Subsidies............................................       3.9        4.4        5.8        8.3        9.0        8.6       10.7       12.9       17.6
Wage disbursements less accruals.....................       0.3       -0.1       -0.1       -0.1          *   .........      -0.1          *        0.4
                                                      --------------------------------------------------------------------------------------------------
  Total current expenditures.........................     322.2      360.5      398.2      439.0      484.1      561.0      652.9      725.1      805.3
                                                      ==================================================================================================
  Net Federal Government Saving......................     -47.5      -56.5      -43.2      -33.7      -11.7      -43.5      -51.0     -100.7     -177.6
 
      Addendum: Total Receipts and Expenditures
Current receipts.....................................     274.7      304.0      355.1      405.3      472.4      517.5      601.9      624.4      627.6
Capital transfer receipts............................       4.6        5.2        7.3        5.2        5.3        6.3        6.7        7.8        5.9
                                                      --------------------------------------------------------------------------------------------------
  Total receipts.....................................     279.3      309.2      362.4      410.6      477.7      523.8      608.7      632.2      633.6
                                                      --------------------------------------------------------------------------------------------------
Current expenditures.................................     322.2      360.5      398.2      439.0      484.1      561.0      652.9      725.1      805.3
Net investment:
  Gross government investment........................      17.6       21.7       24.6       26.1       31.0       35.1       40.3       46.0       53.9
    Defense..........................................     (11.5)     (14.8)     (16.8)     (16.7)     (20.7)     (23.6)     (27.5)     (33.1)     (39.8)
    Nondefense.......................................      (6.1)      (6.9)      (7.8)      (9.3)     (10.3)     (11.5)     (12.8)     (12.9)     (14.0)
  Less: Consumption of fixed capital.................     -19.1      -20.6      -22.7      -24.5      -26.4      -29.2      -32.9      -36.7      -39.9
    Defense..........................................    (-15.3)    (-16.4)    (-18.1)    (-19.6)    (-20.9)    (-22.9)    (-25.6)    (-28.5)    (-31.0)
    Nondefense.......................................     (-3.8)     (-4.2)     (-4.6)     (-4.9)     (-5.5)     (-6.3)     (-7.3)     (-8.2)     (-8.9)
Capital transfer payments............................       8.3        9.9       11.3       11.3       13.5       16.0       16.5       14.8       15.2
Net purchases of nonproduced assets..................      -1.6       -1.0       -1.4       -0.8       -1.5       -2.4       -7.6       -2.2       -7.3
                                                      --------------------------------------------------------------------------------------------------
  Total expenditures.................................     327.4      370.5      410.1      451.0      500.7      580.5      669.1      747.0      827.1
                                                      ==================================================================================================
  Net Lending or Borrowing (-).......................     -48.1      -61.3      -47.7      -40.4      -23.0      -56.7      -60.5     -114.7     -193.5
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.


[[Page 304]]


               Table 14.1--FEDERAL TRANSACTIONS IN THE NATIONAL INCOME AND PRODUCT ACCOUNTS FOR FEDERAL FISCAL YEARS: 1948-2008--Continued
                                                                (in billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                          1984       1985       1986       1987       1988       1989       1990       1991       1992
--------------------------------------------------------------------------------------------------------------------------------------------------------
                   Current Receipts
Current tax receipts.................................     417.9      454.9      472.4      534.9      556.2      618.6      631.9      636.0      651.3
  Personal current taxes.............................    (293.9)    (330.5)    (345.6)    (388.6)    (396.3)    (446.8)    (461.5)    (461.9)    (469.8)
  Taxes on production and imports....................     (47.5)     (47.0)     (44.4)     (45.3)     (49.6)     (50.4)     (50.2)     (59.7)     (63.3)
  Taxes on corporate income..........................     (75.3)     (75.7)     (80.6)     (99.0)    (107.9)    (118.7)    (117.3)    (111.5)    (115.6)
  Other taxes from the rest of the world.............      (1.3)      (1.7)      (1.8)      (2.0)      (2.4)      (2.6)      (2.8)      (2.9)      (2.6)
Contributions for gov. social insurance..............     247.5      271.9      291.5      310.5      346.6      370.3      395.1      413.1      434.9
Income receipts on assets............................      26.1       28.3       31.5       29.0       28.9       29.2       27.2       33.1       26.2
Current transfer receipts............................       7.1        9.2        7.8       10.3       10.7       12.1       12.9       17.2       18.5
Current surplus of government enterprises............      -3.4       -2.9       -1.7       -1.5       -2.4       -1.0       -4.9       -2.6       -1.1
                                                      --------------------------------------------------------------------------------------------------
  Total current receipts.............................     695.2      761.3      801.6      883.2      940.0    1,029.2    1,062.2    1,096.7    1,129.7
                                                      ==================================================================================================
                 Current Expenditures
Consumption expenditures.............................     293.9      329.5      354.9      369.2      380.2      396.1      413.2      437.8      441.7
  Defense............................................    (219.9)    (246.6)    (266.7)    (278.6)    (291.6)    (298.5)    (304.8)    (320.3)    (313.3)
  Nondefense.........................................     (74.0)     (82.9)     (88.2)     (90.6)     (88.6)     (97.7)    (108.3)    (117.4)    (128.4)
Current Transfer payments............................     390.2      414.8      439.8      451.2      474.0      511.3      560.0      577.7      696.7
  Government social benefits.........................    (307.0)    (323.1)    (339.6)    (356.6)    (373.9)    (403.1)    (438.6)    (479.7)    (539.9)
  Grants to State and local governments..............     (74.7)     (79.8)     (87.5)     (84.5)     (89.2)     (96.4)    (107.7)    (125.4)    (145.5)
  Other transfers to the rest of the world...........      (8.5)     (11.9)     (12.8)     (10.1)     (10.9)     (11.8)     (13.6)    (-27.4)     (11.3)
Interest payments....................................     142.1      165.5      176.8      180.7      195.0      214.1      231.6      247.8      252.0
Subsidies............................................      22.8       22.5       22.5       26.6       26.4       29.7       27.8       24.0       27.4
Wage disbursements less accruals.....................      -0.1        0.1   .........      -0.1        0.1   .........        -*          *   .........
                                                      --------------------------------------------------------------------------------------------------
  Total current expenditures.........................     848.9      932.4      994.1    1,027.6    1,075.7    1,151.2    1,232.5    1,287.1    1,417.8
                                                      ==================================================================================================
  Net Federal Government Saving......................    -153.7     -171.1     -192.5     -144.4     -135.7     -122.0     -170.3     -190.5     -288.1
 
      Addendum: Total Receipts and Expenditures
Current receipts.....................................     695.2      761.3      801.6      883.2      940.0    1,029.2    1,062.2    1,096.7    1,129.7
Capital transfer receipts............................       5.8        6.3        6.8        7.3        7.3        8.6       11.3       11.0       11.0
                                                      --------------------------------------------------------------------------------------------------
  Total receipts.....................................     701.1      767.6      808.4      890.5      947.3    1,037.8    1,073.5    1,107.7    1,140.7
                                                      --------------------------------------------------------------------------------------------------
Current expenditures.................................     848.9      932.4      994.1    1,027.6    1,075.7    1,151.2    1,232.5    1,287.1    1,417.8
Net investment:
  Gross government investment........................      61.9       72.5       78.9       85.1       81.0       83.0       87.3       89.1       87.5
    Defense..........................................     (46.7)     (55.9)     (61.6)     (66.1)     (62.2)     (63.4)     (64.7)     (65.5)     (60.5)
    Nondefense.......................................     (15.3)     (16.6)     (17.3)     (19.0)     (18.8)     (19.6)     (22.6)     (23.5)     (27.0)
  Less: Consumption of fixed capital.................     -43.6      -47.2      -50.7      -54.4      -58.2      -62.4      -66.7      -71.3      -74.1
    Defense..........................................    (-34.1)    (-36.8)    (-39.5)    (-42.4)    (-45.2)    (-48.4)    (-51.5)    (-54.8)    (-56.8)
    Nondefense.......................................     (-9.6)    (-10.4)    (-11.2)    (-12.0)    (-12.9)    (-14.0)    (-15.2)    (-16.5)    (-17.3)
Capital transfer payments............................      16.9       18.8       20.8       18.9       19.5       19.5       20.7       21.4       21.8
Net purchases of nonproduced assets..................      -3.3       -1.7       -1.9       -1.4       -0.1       -0.7       -1.0        0.2        0.2
                                                      --------------------------------------------------------------------------------------------------
  Total expenditures.................................     880.8      974.7    1,041.1    1,075.8    1,118.0    1,190.5    1,272.8    1,326.5    1,453.2
                                                      ==================================================================================================
  Net Lending or Borrowing (-).......................    -179.7     -207.2     -232.7     -185.3     -170.7     -152.7     -199.3     -218.8     -312.5
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.


[[Page 305]]


               Table 14.1--FEDERAL TRANSACTIONS IN THE NATIONAL INCOME AND PRODUCT ACCOUNTS FOR FEDERAL FISCAL YEARS: 1948-2008--Continued
                                                                (in billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                     1993       1994       1995       1996       1997       1998       1999       2000
--------------------------------------------------------------------------------------------------------------------------------------------------------
                        Current Receipts
Current tax receipts............................................     695.4      768.4      836.8      913.6    1,010.2    1,105.9    1,165.2    1,305.6
  Personal current taxes........................................    (496.6)    (535.8)    (578.2)    (648.2)    (729.0)    (814.1)    (868.5)    (987.4)
  Taxes on production and imports...............................     (64.9)     (77.4)     (77.2)     (73.0)     (77.2)     (80.7)     (82.5)     (87.8)
  Taxes on corporate income.....................................    (131.2)    (152.2)    (177.8)    (187.7)    (198.9)    (205.9)    (207.9)    (223.5)
  Other taxes from the rest of the world........................      (2.7)      (3.0)      (3.7)      (4.7)      (5.1)      (5.2)      (6.2)      (6.8)
Contributions for gov. social insurance.........................     458.9      487.8      515.3      535.3      565.4      604.4      642.2      687.8
Income receipts on assets.......................................      26.5       24.1       23.3       26.6       26.7       22.3       20.9       24.3
Current transfer receipts.......................................      21.5       22.5       20.2       19.1       23.8       21.0       21.8       24.9
Current surplus of government enterprises.......................      -0.5       -1.8        0.3       -1.9        0.2         -*        0.3       -1.3
                                                                 ---------------------------------------------------------------------------------------
  Total current receipts........................................   1,201.9    1,300.9    1,395.9    1,492.7    1,626.4    1,753.5    1,850.3    2,041.2
                                                                 =======================================================================================
                      Current Expenditures
Consumption expenditures........................................     444.5      442.0      443.2      436.8      454.6      452.9      469.5      496.0
  Defense.......................................................    (309.4)    (304.0)    (299.5)    (295.5)    (304.4)    (301.3)    (307.2)    (321.2)
  Nondefense....................................................    (135.0)    (138.0)    (143.7)    (141.3)    (150.2)    (151.6)    (162.3)    (174.8)
Current Transfer payments.......................................     751.7      792.2      836.0      873.0      908.2      940.3      976.4    1,023.2
  Government social benefits....................................    (574.9)    (602.6)    (635.3)    (670.2)    (700.0)    (716.4)    (733.0)    (762.7)
  Grants to State and local governments.........................    (158.1)    (172.8)    (184.5)    (188.6)    (194.1)    (209.9)    (227.7)    (244.1)
  Other transfers to the rest of the world......................     (18.7)     (16.9)     (16.2)     (14.1)     (14.2)     (14.0)     (15.7)     (16.4)
Interest payments...............................................     251.8      255.3      285.1      295.8      299.4      299.7      285.9      283.3
Subsidies.......................................................      37.9       30.5       34.8       33.3       31.3       33.6       36.1       49.6
                                                                 ---------------------------------------------------------------------------------------
  Total current expenditures....................................   1,485.8    1,520.1    1,599.1    1,638.9    1,693.5    1,726.5    1,767.8    1,852.0
                                                                 =======================================================================================
  Net Federal Government Saving.................................    -283.9     -219.2     -203.2     -146.1      -67.1       27.0       82.4      189.2
 
            Addendum: Total Receipts and Expenditures
Current receipts................................................   1,201.9    1,300.9    1,395.9    1,492.7    1,626.4    1,753.5    1,850.3    2,041.2
Capital transfer receipts.......................................      12.3       15.1       14.6       17.1       19.7       23.9       27.6       28.8
                                                                 ---------------------------------------------------------------------------------------
  Total receipts................................................   1,214.2    1,316.0    1,410.4    1,509.8    1,646.1    1,777.4    1,877.9    2,070.1
                                                                 ---------------------------------------------------------------------------------------
Current expenditures............................................   1,485.8    1,520.1    1,599.1    1,638.9    1,693.5    1,726.5    1,767.8    1,852.0
Net investment:
  Gross government investment...................................      85.3       79.5       79.5       81.1       73.1       75.1       78.4       80.7
    Defense.....................................................     (56.5)     (54.2)     (52.2)     (52.6)     (44.5)     (45.4)     (46.5)     (48.5)
    Nondefense..................................................     (28.8)     (25.3)     (27.3)     (28.5)     (28.5)     (29.7)     (31.9)     (32.2)
  Less: Consumption of fixed capital............................     -77.2      -79.5      -81.7      -82.0      -82.3      -82.7      -84.2      -86.7
    Defense.....................................................    (-59.0)    (-60.6)    (-61.9)    (-61.4)    (-60.6)    (-59.8)    (-59.7)    (-60.2)
    Nondefense..................................................    (-18.2)    (-19.0)    (-19.7)    (-20.6)    (-21.8)    (-22.9)    (-24.5)    (-26.5)
Capital transfer payments.......................................      24.2       25.8       27.6       27.7       29.0       28.2       31.3       39.3
Net purchases of nonproduced assets.............................       0.2        0.2       -7.4       -0.1      -11.0       -5.3       -1.7       -0.2
                                                                 ---------------------------------------------------------------------------------------
  Total expenditures............................................   1,518.3    1,546.1    1,617.2    1,665.5    1,702.3    1,741.8    1,791.8    1,885.1
                                                                 =======================================================================================
  Net Lending or Borrowing (-)..................................    -304.1     -230.1     -206.7     -155.8      -56.2       35.7       86.1      185.0
--------------------------------------------------------------------------------------------------------------------------------------------------------
See footnotes at end of table.


[[Page 306]]


               Table 14.1--FEDERAL TRANSACTIONS IN THE NATIONAL INCOME AND PRODUCT ACCOUNTS FOR FEDERAL FISCAL YEARS: 1948-2008--Continued
                                                                (in billions of dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                       2007       2008
                                                                     2001       2002       2003       2004       2005       2006     estimate   estimate
--------------------------------------------------------------------------------------------------------------------------------------------------------
                        Current Receipts
Current tax receipts............................................   1,266.9    1,089.7    1,065.9    1,118.9    1,323.9    1,527.2    1,639.9    1,708.9
  Personal current taxes........................................    (993.8)    (851.1)    (781.7)    (787.2)    (909.0)  (1,028.6)  (1,151.6)  (1,231.6)
  Taxes on production and imports...............................     (86.4)     (86.4)     (89.1)     (93.1)     (99.7)    (106.0)    (102.5)    (108.1)
  Taxes on corporate income.....................................    (179.5)    (144.7)    (186.8)    (229.4)    (304.3)    (381.6)    (374.5)    (357.8)
  Other taxes from the rest of the world........................      (7.1)      (7.4)      (8.3)      (9.2)     (11.0)     (11.0)     (11.3)     (11.3)
Contributions for gov. social insurance.........................     713.8      729.6      749.9      788.0      849.9      890.1      944.6      995.6
Income receipts on assets.......................................      26.4       21.3       21.4       22.4       23.7       24.8       25.0       26.2
Current transfer receipts.......................................      26.5       25.5       24.7       26.9        6.4       35.1       33.3       38.2
Current surplus of government enterprises.......................      -6.5       -1.1        2.5        0.2       -5.3       -3.6       -2.0       -1.6
                                                                 ---------------------------------------------------------------------------------------
  Total current receipts........................................   2,027.1    1,865.0    1,864.4    1,956.4    2,198.6    2,473.6    2,640.9    2,767.4
                                                                 =======================================================================================
                      Current Expenditures
Consumption expenditures........................................     519.7      575.5      648.0      707.2      758.0      803.3      865.7      906.9
  Defense.......................................................    (335.7)    (368.4)    (424.5)    (470.9)    (508.8)    (532.8)    (579.1)    (617.2)
  Nondefense....................................................    (184.0)    (207.1)    (223.5)    (236.3)    (249.2)    (270.5)    (286.6)    (289.7)
Current Transfer payments.......................................   1,108.0    1,216.6    1,308.9    1,379.6    1,462.5    1,543.1    1,655.1    1,721.1
  Government social benefits....................................    (823.6)    (900.9)    (956.3)  (1,007.4)  (1,072.0)  (1,151.4)  (1,244.9)  (1,306.1)
  Grants to State and local governments.........................    (268.2)    (296.7)    (329.3)    (347.6)    (359.5)    (361.4)    (373.9)    (377.2)
  Other transfers to the rest of the world......................     (16.3)     (19.0)     (23.2)     (24.5)     (31.0)     (30.4)     (36.4)     (37.8)
Interest payments...............................................     267.9      234.9      214.6      216.6      242.3      286.7      306.2      331.9
Subsidies.......................................................      53.7       37.9       46.1       43.5       53.6       54.4       47.3       46.3
                                                                 ---------------------------------------------------------------------------------------
  Total current expenditures....................................   1,949.3    2,064.9    2,217.6    2,346.9    2,516.3    2,687.5    2,874.3    3,006.2
                                                                 =======================================================================================
  Net Federal Government Saving.................................      77.8     -199.9     -353.2     -390.5     -317.7     -213.9     -233.4     -238.9
 
            Addendum: Total Receipts and Expenditures
Current receipts................................................   2,027.1    1,865.0    1,864.4    1,956.4    2,198.6    2,473.6    2,640.9    2,767.4
Capital transfer receipts.......................................      28.2       26.4       21.7       24.7       24.6       27.7       25.0       25.5
                                                                 ---------------------------------------------------------------------------------------
  Total receipts................................................   2,055.3    1,891.3    1,886.1    1,981.1    2,223.1    2,501.3    2,666.0    2,792.8
                                                                 ---------------------------------------------------------------------------------------
Current expenditures............................................   1,949.3    2,064.9    2,217.6    2,346.9    2,516.3    2,687.5    2,874.3    3,006.2
Net investment:
  Gross government investment...................................      80.2       87.2       92.4       98.4      107.7      113.9      124.7      119.2
    Defense.....................................................     (49.9)     (54.5)     (59.0)     (65.0)     (71.7)     (76.9)     (86.7)     (79.1)
    Nondefense..................................................     (30.3)     (32.6)     (33.3)     (33.4)     (36.0)     (37.0)     (38.0)     (40.0)
  Less: Consumption of fixed capital............................     -88.0      -88.6      -90.1      -92.7      -97.9     -103.3     -106.6     -110.6
    Defense.....................................................    (-60.3)    (-60.4)    (-61.4)    (-63.4)    (-67.2)    (-70.8)    (-74.2)    (-77.2)
    Nondefense..................................................    (-27.7)    (-28.2)    (-28.7)    (-29.3)    (-30.7)    (-32.5)    (-32.4)    (-33.5)
Capital transfer payments.......................................      39.8       44.3       62.0       62.9       66.0       69.4       77.8       77.4
Net purchases of nonproduced assets.............................      -0.9        0.2          *        0.1       -0.9          *      -13.7      -13.3
                                                                 ---------------------------------------------------------------------------------------
  Total expenditures............................................   1,980.3    2,108.0    2,281.9    2,415.6    2,591.2    2,767.6    2,956.5    3,079.0
                                                                 =======================================================================================
  Net Lending or Borrowing (-)..................................      75.0     -216.7     -395.8     -434.5     -368.1     -266.2     -290.6     -286.1
--------------------------------------------------------------------------------------------------------------------------------------------------------
N/A: Not available.
* $50 million or less.