[Background Material and Data on Programs within the Jurisdiction of the Committee on Ways and Means (Green Book)]
[Appendices]
[Appendix I. Budget Tables]
[From the U.S. Government Printing Office, www.gpo.gov]
[1998 Green Book] APPENDIX I. BUDGET TABLES
TABLE I-1.--THE TEN-YEAR BUDGET OUTLOOK, BY FISCAL YEAR, 1997-2007
--------------------------------------------------------------------------------------------------------------------------------------------------------
Year
Budget category ----------------------------------------------------------------------------------------------------
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
--------------------------------------------------------------------------------------------------------------------------------------------------------
In billions of dollars
----------------------------------------------------------------------------------------------------
Revenues........................................... $1,507 $1,566 $1,633 $1,705 $1,781 $1,660 $1,943 $2,033 $2,127 $2,227 $2,333
Outlays:
Discretionary.................................. 549 545 562 579 597 615 633 652 672 693 715
Mandatory:
Social Security............................ 363 381 399 420 441 464 487 512 539 568 598
Medicare................................... 209 227 248 273 286 314 339 368 410 438 464
Medicaid................................... 99 105 114 123 133 144 156 169 183 199 216
Federal civilian and military retirement... 76 79 83 87 91 95 99 104 109 115 121
Other...................................... 174 188 195 209 210 222 230 238 251 253 257
----------------------------------------------------------------------------------------------------
Subtotal................................. 921 980 1,039 1,112 1,161 1,239 1,311 1,391 1,492 1,573 1,656
====================================================================================================
Deposit insurance.............................. -12 -4 -3 -1 -0.483 -0.291 -1 -1 -1 -1 -1
Net interest................................... 248 252 260 266 271 278 288 300 311 325 341
Offsetting receipts............................ -83 -84 -77 -78 -81 -84 -87 -89 -92 -95 -99
----------------------------------------------------------------------------------------------------
Total.................................... 1,622 1,689 1,782 1,877 1,947 2,048 2,145 2,253 2,383 2,495 2,611
====================================================================================================
Deficit............................................ 115 122 149 172 167 188 202 220 255 268 278
Debt held by the public............................ 3,864 4,004 4,167 4,353 4,534 4,735 4,949 5,179 5,445 5,722 6,011
====================================================================================================
As a percentage of GDP
----------------------------------------------------------------------------------------------------
Revenues........................................... 19.2 19.1 19.0 19.0 18.9 18.8 18.8 18.8 18.8 18.8 18.8
Outlays:
Discretionary.................................. 7.0 6.7 6.6 6.4 6.3 6.2 6.1 6.0 5.9 5.9 5.8
Mandatory:
Social Security............................ 4.6 4.7 4.7 4.7 4.7 4.7 4.7 4.7 4.8 4.8 4.8
Medicare................................... 2.7 2.8 2.9 3.0 3.0 3.2 3.3 3.4 3.6 3.7 3.7
Medicaid................................... 1.3 1.3 1.3 1.4 1.4 1.5 1.5 1.6 1.6 1.7 1.7
Civil service and military retirement...... 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Other...................................... 2.2 2.3 2.3 2.3 2.2 2.2 2.2 2.2 2.2 2.1 2.1
----------------------------------------------------------------------------------------------------
Subtotal................................. 11.8 12.1 12.2 12.4 12.3 12.6 12.7 12.9 13.2 13.3 13.3
====================================================================================================
Deposit insurance.............................. -0.2 (\1\) (\1\) (\1\) (\1\) (\1\) (\1\) (\1\) (\1\) (\1\) (\1\)
Net interest................................... 3.2 3.1 3.0 3.0 2.9 2.8 2.8 2.8 2.8 2.7 2.8
Offsetting receipts............................ -1.1 -1 -0.9 -0.9 -0.9 -0.9 -0.8 -0.8 -0.8 -0.8 -0.8
----------------------------------------------------------------------------------------------------
Total.................................... 20.7 20.6 20.8 20.9 20.7 20.7 20.7 20.8 20.8 21.1 21.1
====================================================================================================
Deficit............................................ 1.5 1.5 1.7 1.9 1.8 1.9 2.0 2.0 2.3 2.3 2.2
Debt held by the public............................ 49.4 48.9 48.6 48.4 48.1 48.0 47.9 47.9 48.1 48.4 48.6
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ Less than 0.05 percent of GDP.
Note.--Congressional Budget Office expects that under current policies, revenues will remain just around 19 percent of GDP (see the table above), but
spending growth will outstrip revenues. Within the spending totals, some categories grow and others shrink. The government's big health care programs--
Medicare and Medicaid--continue to grow, and together they represent 5 percent of GDP in 2003 (compared with 4.1 percent in 1998). Net interest
outlays inch down from 3.1 percent of GDP in 1998 to 2.8 percent in 2003. Social Security benefits stay at about 4.7 percent of GDP. In 2003, the big
demands that the baby-boom generation will place on Social Security and Medicare are 5 years away. Most other spending programs roughly preserve their
1998 shares. A sole exception is discretionary spending--defense, international, and domestic. These programs are assumed in the baseline projections,
to keep up with inflation once the Budget Enforcement Act's caps expire in 1996. They, therefore, dwindle gradually as a share of GDP, from 6.7
percent in 1998 (already a historic low) to 6.1 percent in 2003.
In certain instances, subtotals, totals and the deficit are not exact due to rounding.
Source: Congressional Budget Office.
TABLE I-2.--CONGRESSIONAL BUDGET OFFICE PROJECTIONS FOR OUTLAYS UNDER CURRENT POLICY ECONOMIC ASSUMPTIONS WITH DISCRETIONARY INFLATION, FISCAL YEARS
1996-2007
--------------------------------------------------------------------------------------------------------------------------------------------------------
Actual
Outlay category 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
--------------------------------------------------------------------------------------------------------------------------------------------------------
In billions of dollars
-----------------------------------------------------------------------------------------------
Discretionary: \1\
Defense............................................. $266 $268 $270 $276 $287 $289 $301 $310 $319 $332 $339 $345
Domestic and international.......................... 267 279 285 292 299 307 316 325 334 345 355 366
Violent crime reduction trust fund.................. 1 2 3 4 5 5 5 5 5 6 6 6
Unspecified reductions.............................. 0 0 -13 -10 -11 -4 -7 -7 -7 -10 -6 -3
-----------------------------------------------------------------------------------------------
Subtotal.......................................... 534 549 545 562 579 597 615 633 652 672 693 715
===============================================================================================
Mandatory spending...................................... 858 909 976 1,036 1,111 1,161 1,239 1,311 1,390 1,491 1,572 1,655
Offsetting receipts..................................... -73 -83 -84 -77 -78 -81 -84 -87 -89 -92 -95 -99
Net interest............................................ 241 248 252 260 266 271 278 288 300 311 325 341
-----------------------------------------------------------------------------------------------
Total............................................. 1,560 1,622 1,689 1,782 1,877 1,947 2,048 2,145 2,253 2,383 2,495 2,611
Onbudget...................................... 1,260 1,312 1,365 1,449 1,531 1,585 1,670 1,751 1,843 1,954 2,047 2,142
Offbudget \2\................................. 300 310 324 333 346 362 378 394 410 428 448 469
===============================================================================================
As a percentage of GDP
-----------------------------------------------------------------------------------------------
Discretionary: \1\
Defense............................................. 3.6 3.4 3.3 3.2 3.2 3.1 3.0 3.0 3.0 2.9 2.9 2.9
Domestic and international.......................... 3.6 3.6 3.5 3.4 3.3 3.3 3.2 3.1 3.1 3.0 3.0 3.0
Violent crime reduction trust fund.................. (\3\) (\3\) (\3\) 0.1 0.1 0.1 0.1 0.1 0.1 (\3\) (\3\) (\3\)
Unspecified reductions.............................. 0 0 -0.2 -0.1 -0.1 (\3\) -0.1 -0.1 -0.1 -0.1 -0.1 (\3\)
-----------------------------------------------------------------------------------------------
Subtotal.......................................... 7.1 7.0 6.7 6.6 6.4 6.3 6.2 6.1 6.0 5.9 5.9 5.8
===============================================================================================
Mandatory spending...................................... 11.5 11.6 11.9 12.1 12.4 12.3 12.6 12.7 12.9 13.2 13.3 13.4
Offsetting receipts..................................... -1.0 -1.1 -1.0 -0.9 -0.9 -0.9 -0.9 -0.8 -0.8 -0.8 -0.8 -0.8
Net interest............................................ 3.2 3.2 3.1 3.0 3.0 2.9 2.8 2.8 2.8 2.8 2.7 2.8
-----------------------------------------------------------------------------------------------
Total............................................. 20.8 20.7 20.6 20.8 20.9 20.7 20.7 20.8 20.8 21.1 21.1 21.1
Onbudget...................................... 16.8 16.8 16.7 16.9 17.0 16.8 16.9 16.9 17.0 17.3 17.3 17.3
Offbudget \2\................................. 4.0 4.0 4.0 3.9 3.9 3.8 3.8 3.8 3.8 3.8 3.8 3.8
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ Projections assume that discretionary spending is adjusted for inflation up to the statutory caps that are in effect through 1998. All discretionary
spending other than spending from the violent crime reduction trust fund is assumed to equal the caps in 1998 and to grow from that level at the rate
of inflation in later years. Unspecified reductions show the cuts that would be needed to satisfy the caps.
\2\ Social Security and the Postal Service.
\3\ Less than 0.05 percent of gross domestic product.
Source: Congressional Budget Office.
TABLE I-3.--OUTLAYS FOR MAJOR SPENDING CATEGORIES IN NOMINAL DOLLARS AND AS A PERCENTAGE OF GDP, SELECTED FISCAL
YEARS 1965-96
----------------------------------------------------------------------------------------------------------------
Spending category 1965 1970 1975 1980 1985 1990 1995 1996
----------------------------------------------------------------------------------------------------------------
In nominal dollars (billions)
-------------------------------------------------------------------------------
Defense discretionary.......... $51.0 $81.9 $87.6 $134.6 $253.1 $300.1 $273.5 $266.0
International discretionary..... 4.7 4.0 8.2 12.8 17.4 19.1 20.1 18.3
Domestic discretionary.......... 22.1 34.3 62.0 128.7 145.2 181.2 252.0 250.0
-------------------------------------------------------------------------------
Subtotal, discretionary..... 77.8 120.2 157.8 276.1 415.7 500.4 545.7 534.4
===============================================================================
Social Security................. 17.1 29.6 63.6 117.1 186.4 246.5 333.3 347.1
Medicare........................ 0 6.8 14.1 34.0 69.7 107.4 177.1 191.3
Medicaid........................ 0.3 2.7 6.8 14.0 22.7 41.1 89.1 92.0
AFDC, SSI, food stamps.......... 2.8 4.7 14.1 22.2 30.4 39.7 67.2 67.1
Deposit insurance............... -0.4 -0.5 0.5 -0.4 -2.2 57.9 -17.9 -8.4
Other entitlements and
mandatories.................... 12.0 17.7 52.2 75.4 94.2 75.3 92.4 95.8
Net interest.................... 8.6 14.4 23.2 52.5 129.5 184.2 232.2 241.1
-------------------------------------------------------------------------------
Total....................... 118.2 195.6 332.3 590.9 946.4 1,252.5 1,519.1 1,560.3
===============================================================================
Memo: GDP....................... 687.0 1,009.6 1,554.2 2,718.9 4,108.0 5,682.9 7,180.7 7,484.7
-------------------------------------------------------------------------------
As a percentage of GDP
-------------------------------------------------------------------------------
Defense discretionary........... 7.4 8.1 5.6 5.0 6.2 5.3 3.8 3.6
International discretionary..... 0.7 0.4 0.5 0.5 0.4 0.3 0.3 0.2
Domestic discretionary.......... 3.2 3.4 4.0 4.7 3.5 3.2 3.5 3.3
-------------------------------------------------------------------------------
Subtotal, discretionary..... 11.3 11.9 10.2 10.2 10.1 8.8 7.6 7.1
===============================================================================
Social Security................. 2.5 2.9 4.1 4.3 4.5 4.3 4.6 4.6
Medicare........................ 0.0 0.7 0.9 1.2 1.7 1.9 2.5 2.6
Medicaid........................ 0.0 0.3 0.4 0.5 0.6 0.7 1.2 1.2
AFDC, SSI, food stamps.......... 0.4 0.5 0.9 0.8 0.7 0.7 0.9 0.9
Deposit insurance............... -0.1 -0.0 0 0 -0.1 1.0 -0.2 -0.1
Other entitlements and
mandatories.................... 1.7 1.8 3.4 2.8 2.3 1.3 1.3 1.3
Net interest.................... 1.3 1.4 1.5 1.9 3.2 3.2 3.2 3.2
-------------------------------------------------------------------------------
Total....................... 17.2 19.4 21.4 21.7 23.0 22.0 21.2 20.8
===============================================================================
Memo: Social Security, Medicare
and Medicaid................... 2.5 3.9 5.4 6.0 6.8 6.9 8.3 8.4
-------------------------------------------------------------------------------
As a percentage of budget
-------------------------------------------------------------------------------
Defense discretionary........... 43.2 41.9 26.4 22.8 26.7 24.0 18.0 17.0
International discretionary..... 4.0 2.0 2.5 2.2 1.8 1.5 1.3 1.2
Domestic discretionary.......... 18.7 17.5 18.7 21.8 15.3 14.5 16.6 16.0
-------------------------------------------------------------------------------
Subtotal, discretionary..... 65.8 61.4 47.5 46.7 43.9 40.0 35.9 34.2
===============================================================================
Social Security................. 14.4 15.2 19.1 19.8 19.7 19.7 21.9 22.2
Medicare........................ 0 3.5 4.2 5.8 7.4 8.6 11.7 12.3
Medicaid........................ 0.3 1.4 2.0 2.4 2.4 3.3 5.9 5.9
AFDC, SSI, food stamps.......... 2.4 2.4 4.2 3.8 3.2 3.2 4.4 4.3
Deposit insurance............... -0.3 -0.3 0.2 -0.1 -0.2 4.6 -1.2 -0.5
Other entitlements and
mandatories.................... 10.2 9.0 15.8 12.8 10.0 6.0 6.1 6.1
Net interest.................... 7.3 7.4 7.0 8.9 13.7 14.7 15.3 15.5
-------------------------------------------------------------------------------
Total....................... 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
----------------------------------------------------------------------------------------------------------------
Note.--Totals may not be exact due to rounding.
Source: Congressional Budget Office.
TABLE I-4.--CONGRESSIONAL BUDGET OFFICE MANDATORY OUTLAY PROJECTIONS FOR SELECTED PROGRAMS WITHIN THE
JURISDICTION OF THE COMMITTEE ON WAYS AND MEANS, FISCAL YEARS 1996-2002
[In billions of dollars]
----------------------------------------------------------------------------------------------------------------
1996
Program actual 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Social Security........................... $374.4 $363 $380.8 $399.5 $419.6 $441.3 $463.7
Old-age and survivors insurance....... 303.9 316.6 330.9 345.8 361.8 379.3 397.1
Disability insurance.................. 43.5 46.4 49.9 53.7 57.8 62.0 66.6
Medicare.................................. 193.7 208.8 227 248.2 272.9 285.7 313.7
Hospital insurance.................... 126.5 136.1 147.3 159.8 175.1 183.1 200.2
Supplementary medical insurance....... 67.2 72.7 79.7 88.4 97.8 102.6 113.5
Trade adjustment.......................... -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1
Unemployment compensation................. 22.8 23.0 24.5 26.5 28.1 29.6 30.8
Family support \1\........................ 17.6 20.1 21.8 22.2 22.8 22.8 22.9
Earned income tax credit outlays.......... 19.2 20.8 21.7 22.5 23.3 24.2 25.0
Supplemental Security Income.............. 24.1 27.3 26.1 28.0 32.6 29.7 34.6
Social Services Block Grant............... 2.5 2.6 2.5 2.6 2.6 2.5 2.5
Children and family services programs..... 4.8 5.2 5.3 5.5 5.7 5.9 6.0
Foster care and adoption assistance....... 3.7 3.9 4.2 4.6 5.1 5.5 5.9
SMI and HI premiums....................... -20.0 -20.2 -21.4 -22.4 -23.4 -24.5 -25.6
---------------------------------------------------------------------
Total............................... 615.9 654.6 692.6 737.3 789.4 822.8 879.6
----------------------------------------------------------------------------------------------------------------
\1\ Beginning in fiscal year 1997, the Personal Responsibility and Work Opportunity Reconciliation Act of 1996
alters the way in which family support payments are administered. A contingency fund, a child care entitlement
to the States, Temporary Assistance for Needy Families and children's research and technical assistance will
be added to the already existing, but reduced, family support payments that are granted.
Source: Congressional Budget Office.
TABLE I-5.--HISTORICAL OUTLAYS FOR ENTITLEMENTS AND OTHER MANDATORY SPENDING EXCLUDING DEPOSIT INSURANCE, SELECTED FISCAL YEARS 1975-96
[In billions of dollars]
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Category 1975 1980 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Means-tested programs:
Student loans \1\................................... $0.1 $1.4 $3.0 $2.6 $3.2 $3.5 $3.3 $2.5 $2.8 $3.9 $4.4 $4.8 $1.7 $2.2 $2.8 $4.4 $3.6
Medicaid............................................ 6.8 14.0 17.4 19.0 20.1 22.7 25.0 27.4 30.5 34.6 41.1 52.5 67.8 75.8 82.0 89.1 92.0
Food stamps......................................... 4.6 9.1 11.0 12.7 12.4 12.5 12.4 12.4 13.1 13.7 15.9 19.6 22.8 24.6 25.4 25.6 25.4
Child nutrition..................................... 1.5 3.4 3.0 3.3 3.5 3.7 3.8 4.0 4.3 4.6 5.0 5.5 6.1 6.6 7.0 7.5 7.9
Earned income tax credit............................ 0 1.3 1.2 1.2 1.2 1.1 1.4 1.4 2.7 4.0 4.4 4.9 8.2 9.4 11.7 15.2 19.2
Supplemental Security Income........................ 4.3 5.7 6.9 7.9 7.6 8.7 9.3 9.9 11.4 11.5 11.5 14.8 17.9 21.2 24.5 24.5 24.1
Family support...................................... 5.1 7.3 8.0 8.4 8.9 9.2 9.9 10.5 10.8 11.2 12.2 14.1 15.7 16.4 17.3 18.1 17.6
Veterans' pensions.................................. 2.7 3.6 3.9 3.9 3.9 3.8 3.9 3.8 3.9 4.0 3.6 4.0 3.7 3.5 3.4 3.0 2.8
Other............................................... 0.3 0.1 0.4 0.3 0.5 0.8 0.9 1.0 1.0 1.3 1.8 2.1 2.5 2.7 3.0 3.2 3.7
---------------------------------------------------------------------------------------------------------------------------------------
Total, means-tested programs...................... 25.4 45.9 54.8 59.3 61.3 66.0 69.9 72.9 80.5 88.8 99.9 122.3 146.5 162.3 177.3 190.6 196.3
=======================================================================================================================================
Nonmeans-tested programs:
Medicare............................................ 14.1 34.0 49.2 55.5 61.0 69.7 74.2 79.9 85.7 94.3 107.4 114.2 129.4 143.2 159.6 177.1 191.3
Social Security..................................... 63.6 117.1 153.9 168.5 176.1 186.4 196.5 205.1 216.8 230.4 246.5 266.7 285.1 302.0 316.9 333.3 347.1
---------------------------------------------------------------------------------------------------------------------------------------
Subtotal.......................................... 77.7 151.1 203.1 224.0 237.1 256.1 270.7 285.0 302.5 324.7 353.9 380.9 414.5 445.1 476.5 510.4 538.4
=======================================================================================================================================
Other retirement and disability:
Federal civilian \3\................................ 7.4 15.5 20.6 22.1 23.3 24.6 25.0 27.6 30.3 31.8 33.7 36.9 37.0 38.8 40.3 42.7 43.6
Military............................................ 6.2 11.9 14.9 15.9 16.5 15.8 17.6 18.1 19.0 20.2 21.5 23.1 24.5 25.7 26.7 27.8 28.8
Other............................................... 4.7 4.7 5.2 5.2 4.9 5.1 4.9 5.1 4.9 5.2 4.7 4.4 5.1 4.2 5.3 4.7 4.8
---------------------------------------------------------------------------------------------------------------------------------------
Subtotal.......................................... 18.3 32.1 40.7 43.2 44.7 45.5 47.5 50.8 54.2 57.2 59.9 64.4 66.6 68.7 72.3 75.2 77.3
=======================================================================================================================================
Unemployment compensation............................... 12.8 16.9 22.2 29.7 17.0 15.8 16.1 15.5 13.6 13.9 17.5 25.1 36.9 35.4 26.4 21.3 22.6
Other programs:
Farm price supports................................. 0.6 2.8 11.7 18.9 7.3 17.7 25.8 22.4 12.2 10.6 6.5 10.1 9.2 15.6 9.9 5.8 5.0
Social services..................................... 2.9 3.7 3.4 3.5 4.4 3.5 4.0 4.1 4.2 4.6 5.1 5.6 5.2 5.1 5.6 5.5 5.0
Veterans' benefits \3\.............................. 10.2 11.0 12.5 12.7 12.8 12.9 12.9 13.0 14.8 14.9 13.4 14.4 15.7 17.0 18.0 18.3 17.2
General revenue sharing............................. 6.1 6.8 4.6 4.6 4.6 4.6 5.1 0.1 0 0 0 0 0 0 0 0 0
Other............................................... 10.4 21.2 19.8 15.8 17.1 27.9 7.7 6.4 12.3 12.5 10.4 13.1 16.7 12.9 4.5 12.3 4.5
---------------------------------------------------------------------------------------------------------------------------------------
Subtotal.......................................... 30.2 45.5 52.0 55.5 46.2 66.6 55.5 46.0 43.5 42.6 35.4 43.2 46.8 50.6 38.0 41.9 31.8
---------------------------------------------------------------------------------------------------------------------------------------
Total, nonmeans-tested programs................... 139.0 245.6 318.0 352.4 345.0 384.0 389.8 397.3 413.8 438.4 466.7 513.6 564.8 599.8 613.2 648.8 670.1
Total outlays..................................... 164.4 291.5 372.8 411.7 406.3 450.0 459.7 470.2 494.3 527.2 566.6 635.9 711.3 762.1 790.6 839.4 866.4
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ Formerly known as guaranteed student loans.
\2\ Includes Civil Service, Foreign Service, Coast Guard, other retirement programs, and annuitants' health benefits.
\3\ Includes veterans' compensation, readjustment benefits, life insurance, and housing programs.
Source: Congressional Budget Office.
TABLE I-6.--CONGRESSIONAL BUDGET OFFICE OUTLAY PROJECTIONS FOR MANDATORY SPENDING, FISCAL YEARS 1996-2007
[By fiscal year, in billions of dollars]
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Actual
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Means-tested programs
-----------------------------------------------------------------------------------------------------------------------------------
Medicaid.................................................... $91.990 $98.599 $105.308 $113.619 $122.861 $132.792 $143.783 $155.863 $168.685 $183.113 $198.937 $216.231
Food stamps \1\............................................. 25.422 23.794 24.450 25.884 27.226 28.645 29.417 30.197 31.153 32.142 33.015 33.835
Supplemental Security Income................................ 24.125 27.258 26.135 28.001 32.593 29.733 34.638 37.030 39.531 45.565 44.875 43.866
Family support.............................................. 17.601 20.121 21.825 22.194 22.767 22.836 22.889 23.226 23.586 23.938 24.291 24.659
Veterans' pensions.......................................... 2.834 2.975 2.989 3.399 3.751 3.203 3.604 3.665 3.733 4.154 3.863 3.747
Child nutrition............................................. 7.875 8.221 8.474 8.895 9.353 9.829 10.314 10.809 11.314 11.832 12.370 12.919
Earned income credit........................................ 19.159 20.822 21.685 22.495 23.340 24.216 25.036 26.001 26.961 27.920 28.913 29.890
Student loans \2\........................................... 3.602 0.294 3.305 3.550 3.669 3.756 3.793 3.916 3.997 4.074 4.119 4.196
Other....................................................... 3.691 3.904 4.222 4.621 5.054 5.482 5.905 6.347 6.806 7.269 7.755 8.270
-----------------------------------------------------------------------------------------------------------------------------------
Total, means-tested programs............................ 196.299 205.988 218.393 232.658 250.614 260.492 279.379 297.054 315.766 340.007 358.138 377.613
===================================================================================================================================
Nonmeans-tested programs
-----------------------------------------------------------------------------------------------------------------------------------
Social Security............................................. 347.051 362.966 380.747 399.470 419.516 440.719 463.650 487.404 512.432 539.157 567.561 598.397
Medicare.................................................... 191.310 208.810 226.966 248.158 272.964 285.635 313.729 339.352 368.248 409.800 437.632 464.075
-----------------------------------------------------------------------------------------------------------------------------------
Subtotal................................................ 538.361 571.776 607.713 647.628 692.480 726.354 777.379 826.756 880.680 948.957 1005.193 1062.472
-----------------------------------------------------------------------------------------------------------------------------------
Other retirement and disability:
Federal civilian \3\...................................... 43.636 46.140 48.276 50.879 53.689 56.481 59.491 62.817 66.463 70.448 74.734 79.268
Military.................................................. 28.831 30.092 31.171 32.246 33.330 34.397 35.491 36.613 37.768 38.892 40.241 41.540
Other..................................................... 4.847 4.367 4.354 4.374 4.582 4.777 4.714 4.749 4.800 4.840 4.984 4.969
-----------------------------------------------------------------------------------------------------------------------------------
Subtotal................................................ 77.314 80.599 83.801 87.499 91.601 95.655 99.696 104.179 109.031 114.180 119.959 125.777
-----------------------------------------------------------------------------------------------------------------------------------
Unemployment compensation................................... 22.583 22.654 24.210 26.154 27.824 29.243 30.414 31.637 32.894 34.236 35.595 36.977
Deposit insurance........................................... -8.405 -12.481 -4.263 -2.854 -1.168 -0.483 -0.291 -0.688 -0.881 -0.919 -1.093 -1.177
Other programs:
Veterans' benefits \4\.................................... 17.243 18.439 19.957 20.843 22.800 20.270 22.161 22.631 23.098 25.269 24.126 22.877
Farm price supports....................................... 5.031 5.744 7.447 7.183 6.651 5.493 5.179 5.155 5.169 5.146 5.146 5.158
Social services........................................... 5.019 5.268 5.309 5.411 5.503 5.522 5.581 6.027 6.128 6.206 6.297 6.397
Credit reform liquidating accounts........................ -9.217 -7.788 -5.885 -5.875 -5.685 -5.681 -5.486 -5.507 -5.504 -5.738 -6.246 -6.312
Other..................................................... 13.684 18.517 19.290 17.852 20.225 23.736 24.946 23.447 23.816 23.822 24.426 24.802
-----------------------------------------------------------------------------------------------------------------------------------
Subtotal................................................ 31.760 40.180 46.118 45.414 49.494 49.340 52.381 51.753 52.707 54.705 53.749 52.922
-----------------------------------------------------------------------------------------------------------------------------------
Total, nonmeans-tested programs......................... 661.613 702.728 757.579 803.841 860.231 900.109 959.579 1013.637 1074.431 1151.159 1213.403 1276.971
-----------------------------------------------------------------------------------------------------------------------------------
Grand total, all mandatory spending................. 857.912 908.716 975.972 1036.499 1110.845 1160.601 1238.958 1310.691 1,390.197 1491.166 1571.541 1654.584
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ Includes nutrition assistance to Puerto Rico.
\2\ Formerly known as guaranteed student loans.
\3\ Includes Civil Service, Foreign Service, Coast Guard, other retirement programs, and annuitants' health benefits.
\4\ Includes veterans' compensation, readjustment benefits, life insurance, and housing programs.
Note.--Spending for major benefit programs shown in this table includes benefits only. Outlays for administrative costs of most benefit programs are classified as nondefense discretionary
spending, and Medicare premium collections are offsetting receipts.
Source: Congressional Budget Office.
TABLE I-7.--OUTLAYS FOR MAJOR SPENDING CATEGORIES, FISCAL YEARS 1962-96
[In billions of dollars]
----------------------------------------------------------------------------------------------------------------
Entitlements
National and other Nondefense Net Offsetting Total
Fiscal year defense mandatory discretionary interest receipts outlays
spending spending
----------------------------------------------------------------------------------------------------------------
1962.................................. $52.6 $34.7 $19.5 $6.9 -$6.8 $106.8
1963.................................. 53.7 36.2 21.5 7.7 -7.9 111.3
1964.................................. 55.0 38.9 24.1 8.2 -7.7 118.5
1965.................................. 51.0 39.7 26.8 8.6 -7.9 118.2
1966.................................. 59.0 43.4 31.2 9.4 -8.4 134.5
1967.................................. 72.0 50.9 34.4 10.3 -10.2 157.5
1968.................................. 82.2 59.7 35.8 11.1 -10.6 178.1
1969.................................. 82.7 64.7 34.6 12.7 -11.0 183.6
1970.................................. 81.9 72.6 38.3 14.4 -11.5 195.6
1971.................................. 79.0 86.9 43.5 14.8 -14.1 210.2
1972.................................. 79.3 100.9 49.1 15.5 -14.1 230.7
1973.................................. 77.1 116.1 53.1 17.3 -18.0 245.7
1974.................................. 80.7 131.0 57.3 21.4 -21.2 269.4
1975.................................. 87.6 169.6 70.2 23.2 -18.3 332.3
1976.................................. 89.9 189.4 85.4 26.7 -19.6 371.8
1977.................................. 97.5 204.0 99.3 29.9 -21.5 409.2
1978.................................. 104.6 227.7 113.8 35.5 -22.8 458.7
1979.................................. 116.8 247.3 122.9 42.6 -25.6 503.5
1980.................................. 134.6 291.5 141.5 52.5 -29.2 590.9
1981.................................. 158.0 339.6 149.7 68.8 -37.9 678.2
1982.................................. 185.9 370.9 139.9 85.0 -36.0 745.8
1983.................................. 209.9 410.7 143.3 89.8 -45.3 808.4
1984.................................. 228.0 405.8 151.2 111.1 -44.2 851.8
1985.................................. 253.1 448.4 162.6 129.5 -47.1 946.4
1986.................................. 273.8 462.8 164.5 136.0 -45.9 990.3
1987.................................. 282.5 474.4 161.5 138.7 -53.0 1,003.9
1988.................................. 290.9 505.3 173.4 151.8 -57.0 1,064.1
1989.................................. 304.0 549.6 184.7 169.3 -63.9 1,143.2
1990.................................. 300.1 627.3 200.3 184.2 -58.8 1,252.7
1991.................................. 319.7 702.6 213.6 194.5 -106.0 1,323.8
1992.................................. 302.6 716.6 231.9 199.4 -68.8 1,380.9
1993.................................. 292.4 736.8 248.5 198.8 -67.1 1,408.2
1994.................................. 282.3 784.1 261.6 203 -69.1 1,460.8
1995.................................. 273.6 818.1 272.1 232.2 -80.2 1,519.1
1996.................................. 266.0 857.9 268.4 241.1 -73.0 1,560.3
----------------------------------------------------------------------------------------------------------------
Source: Congressional Budget Office.
TABLE I-8.--OUTLAYS FOR MAJOR SPENDING CATEGORIES, AS A PERCENTAGE OF GDP, FISCAL YEARS 1962-96
----------------------------------------------------------------------------------------------------------------
Entitlements
National and other Nondefense Net Offsetting Total
Fiscal year defense mandatory discretionary interest receipts outlays
spending spending
----------------------------------------------------------------------------------------------------------------
1962.................................. 9.3 6.1 3.5 1.2 -1.2 18.8
1963.................................. 9.0 6.0 3.6 1.3 -1.3 18.6
1964.................................. 8.6 6.1 3.7 1.3 -1.2 18.5
1965.................................. 7.4 5.8 3.9 1.3 -1.1 17.2
1966.................................. 7.8 5.7 4.1 1.2 -1.1 17.8
1967.................................. 8.9 6.3 4.3 1.3 -1.3 19.4
1968.................................. 9.4 6.9 4.2 1.3 -1.2 20.5
1969.................................. 8.7 6.8 3.6 1.3 -1.2 19.4
1970.................................. 8.1 7.2 3.8 1.4 -1.1 19.4
1971.................................. 7.3 8.1 4.0 1.4 -1.3 19.5
1972.................................. 6.7 8.6 4.2 1.3 -1.2 19.6
1973.................................. 5.9 8.9 4.1 1.3 -1.4 18.8
1974.................................. 5.6 9.1 4.0 1.5 -1.5 18.7
1975.................................. 5.6 10.9 4.5 1.5 -1.2 21.4
1976.................................. 5.2 10.9 4.9 1.5 -1.1 21.5
1977.................................. 4.9 10.3 5.0 1.5 -1.1 20.8
1978.................................. 4.7 10.3 5.2 1.6 -1.0 20.7
1979.................................. 4.7 9.9 5.0 1.7 -1.0 20.2
1980.................................. 5.0 10.7 5.2 1.9 -1.1 21.7
1981.................................. 5.2 11.1 4.9 2.3 -1.2 22.3
1982.................................. 5.8 11.5 4.4 2.6 -1.1 23.2
1983.................................. 6.1 12.0 4.2 2.6 -1.3 23.6
1984.................................. 6.0 10.6 3.9 2.9 -1.2 22.3
1985.................................. 6.2 10.9 3.9 3.2 -1.1 23.0
1986.................................. 6.3 10.6 3.8 3.1 -1.1 22.7
1987.................................. 6.1 10.3 3.5 3.0 -1.1 21.8
1988.................................. 5.9 10.2 3.5 3.1 -1.1 21.5
1989.................................. 5.7 10.3 3.4 3.2 -1.2 21.4
1990.................................. 5.3 11.0 3.5 3.2 -1.0 22.1
1991.................................. 5.5 12.0 3.6 3.3 -1.8 22.6
1992.................................. 4.9 11.7 3.8 3.2 -1.1 22.5
1993.................................. 4.5 11.4 3.8 3.1 -1.0 21.8
1994.................................. 4.1 11.5 3.8 3.0 -1.0 21.4
1995.................................. 3.8 11.4 3.8 3.2 -1.1 21.1
1996.................................. 3.6 11.5 3.6 3.2 -1.0 20.8
----------------------------------------------------------------------------------------------------------------
Note.--GDP = gross domestic product.
Source: Congressional Budget Office.
TABLE I-9.--REVENUES BY MAJOR SOURCE, FISCAL YEARS 1962-96
[In billions of dollars]
----------------------------------------------------------------------------------------------------------------
Estate
Individual Corporate Social Excise and Customs Miscellaneous Total
Fiscal year income income insurance taxes gift duties receipts revenues
taxes taxes taxes taxes
----------------------------------------------------------------------------------------------------------------
1962........................ $45.6 $20.5 $17.0 $12.5 $2.0 $1.1 $0.8 $99.7
1963........................ 47.6 21.6 19.8 13.2 2.2 1.2 1.0 106.6
1964........................ 48.7 23.5 22.0 13.7 2.4 1.3 1.1 112.6
1965........................ 48.8 25.5 22.2 14.6 2.7 1.4 1.6 116.8
1966........................ 55.4 30.1 25.5 13.1 3.1 1.8 1.9 130.8
1967........................ 61.5 34.0 32.6 13.7 3.0 1.9 2.1 148.8
1968........................ 68.7 28.7 33.9 14.1 3.1 2.0 2.5 153.0
1969........................ 87.2 36.7 39.0 15.2 3.5 2.3 2.9 186.9
1970........................ 90.4 32.8 44.4 15.7 3.6 2.4 3.4 192.8
1971........................ 86.2 26.8 47.3 16.6 3.7 2.6 3.9 187.1
1972........................ 94.7 32.2 52.6 15.5 5.4 3.3 3.6 207.3
1973........................ 103.2 36.2 63.1 16.3 4.9 3.2 3.9 230.8
1974........................ 119.0 38.6 75.1 16.8 5.0 3.3 5.4 263.2
1975........................ 122.4 40.6 84.5 16.6 4.6 3.7 6.7 279.1
1976........................ 131.6 41.4 90.8 17.0 5.2 4.1 8.0 298.1
1977........................ 157.6 54.9 106.5 17.5 7.3 5.2 6.5 355.6
1978........................ 181.0 60.0 121.0 18.4 5.3 6.6 7.4 399.6
1979........................ 217.8 65.7 138.9 18.7 5.4 7.4 9.3 463.3
1980........................ 244.1 64.6 157.8 24.3 6.4 7.2 12.7 517.1
1981........................ 285.9 61.1 182.7 40.8 6.8 8.1 13.8 599.3
1982........................ 297.7 49.2 201.5 36.3 8.0 8.9 16.2 617.8
1983........................ 288.9 37.0 209.0 35.3 6.1 8.7 15.6 600.6
1984........................ 298.4 56.9 239.4 37.4 6.0 11.4 17.1 666.5
1985........................ 334.5 61.3 265.2 36.0 6.4 12.1 18.6 734.2
1986........................ 349.0 63.1 283.9 32.9 7.0 13.3 20.1 769.3
1987........................ 392.6 83.9 303.3 32.5 7.5 15.1 19.6 854.4
1988........................ 401.2 94.5 334.3 35.2 7.6 16.2 20.3 909.3
1989........................ 445.7 103.3 359.4 34.4 8.7 16.3 23.3 991.2
1990........................ 466.9 93.5 380.0 35.3 11.5 16.7 28.0 1,032.0
1991........................ 467.8 98.1 396.0 42.4 11.1 15.9 23.6 1,055.0
1992........................ 476.0 100.3 413.7 45.6 11.1 17.4 27.3 1,091.3
1993........................ 509.7 117.5 428.3 48.1 12.6 18.8 19.5 1,154.4
1994........................ 543.1 140.4 461.5 55.2 15.2 20.1 23.2 1,258.6
1995........................ 590.2 157.0 484.5 57.5 14.8 19.3 28.6 1,351.8
1996........................ 656.4 171.8 509.4 54.0 17.2 18.7 25.5 1,453.1
----------------------------------------------------------------------------------------------------------------
Source: Congressional Budget Office.
TABLE I-10.--REVENUES BY MAJOR SOURCE AS A PERCENTAGE OF GDP, FISCAL YEARS 1962-96
----------------------------------------------------------------------------------------------------------------
Estate
Individual Corporate Social Excise and Customs Miscellaneous Total
Fiscal year income income insurance taxes gift duties receipts revenues
taxes taxes taxes taxes
----------------------------------------------------------------------------------------------------------------
1962........................ 8.0 3.6 3.0 2.2 0.4 0.2 0.1 17.6
1963........................ 7.9 3.6 3.3 2.2 0.4 0.2 0.2 17.8
1964........................ 7.6 3.7 3.4 2.1 0.4 0.2 0.2 17.6
1965........................ 7.1 3.7 3.2 2.1 0.4 0.2 0.2 17.0
1966........................ 7.3 4.0 3.4 1.7 0.4 0.2 0.2 17.3
1967........................ 7.6 4.2 4.0 1.7 0.4 0.2 0.3 18.4
1968........................ 7.9 3.3 3.9 1.6 0.4 0.2 0.3 17.6
1969........................ 9.2 3.9 4.1 1.6 0.4 0.2 0.3 19.7
1970........................ 9.0 3.3 4.4 1.6 0.4 0.2 0.3 19.1
1971........................ 8.0 2.5 4.4 1.5 0.3 0.2 0.4 17.4
1972........................ 8.1 2.7 4.5 1.3 0.5 0.3 0.3 17.6
1973........................ 7.9 2.8 4.8 1.2 0.4 0.2 0.3 17.6
1974........................ 8.3 2.7 5.2 1.2 0.4 0.2 0.4 18.3
1975........................ 7.9 2.6 5.4 1.1 0.3 0.2 0.4 18.0
1976........................ 7.6 2.4 5.2 1.0 0.3 0.2 0.5 17.2
1977........................ 8.0 2.8 5.4 0.9 0.4 0.3 0.3 18.0
1978........................ 8.2 2.7 5.5 0.8 0.2 0.3 0.3 18.0
1979........................ 8.7 2.6 5.6 0.8 0.2 0.3 0.4 18.5
1980........................ 9.0 2.4 5.8 0.9 0.2 0.3 0.5 19.0
1981........................ 9.4 2.0 6.0 1.3 0.2 0.3 0.5 19.7
1982........................ 9.3 1.5 6.3 1.1 0.2 0.3 0.5 19.2
1983........................ 8.4 1.1 6.1 1.0 0.2 0.3 0.5 17.5
1984........................ 7.8 1.5 6.3 1.0 0.2 0.3 0.4 17.4
1985........................ 8.1 1.5 6.5 0.9 0.2 0.3 0.5 17.9
1986........................ 8.0 1.4 6.5 0.8 0.2 0.3 0.5 17.6
1987........................ 8.5 1.8 6.6 0.7 0.2 0.3 0.4 18.5
1988........................ 8.1 1.9 6.7 0.7 0.2 0.3 0.4 18.3
1989........................ 8.3 1.9 6.7 0.6 0.2 0.3 0.4 18.5
1990........................ 8.2 1.6 6.7 0.6 0.2 0.3 0.5 18.2
1991........................ 8.0 1.7 6.8 0.7 0.2 0.3 0.4 18.0
1992........................ 7.7 1.6 6.7 0.7 0.2 0.3 0.4 17.7
1993........................ 7.9 1.8 6.6 0.7 0.2 0.3 0.3 17.8
1994........................ 7.9 2.1 6.7 0.8 0.2 0.3 0.3 18.4
1995........................ 8.2 2.2 6.7 0.8 0.2 0.3 0.4 18.8
1996........................ 8.8 2.3 6.8 0.7 0.2 0.2 0.3 19.4
----------------------------------------------------------------------------------------------------------------
Note.--GDP = gross domestic product.
Source: Congressional Budget Office.
TABLE I-11.--FEDERAL REVENUES BY SOURCE FOR SELECTED YEARS IN NOMINAL DOLLARS AS A PERCENTAGE OF GDP AND TOTAL
REVENUES, SELECTED FISCAL YEARS 1965-96
----------------------------------------------------------------------------------------------------------------
Revenue source 1965 1970 1975 1980 1985 1990 1995 1996
----------------------------------------------------------------------------------------------------------------
In nominal dollars (billions)
------------------------------------------------------------------------
Individual income...................... $48.8 $90.4 $122.4 $244.1 $334.5 $466.9 $590.2 $656.4
Corporate income....................... 25.5 32.8 40.6 64.6 61.3 93.5 157.0 171.8
Social insurance....................... 22.2 44.4 84.5 157.8 265.2 380.0 484.5 509.4
Excise................................. 14.6 15.7 16.6 24.3 36.0 35.3 57.5 54.0
Estate and gift........................ 2.7 3.6 4.6 6.4 6.4 11.5 14.8 17.2
Other.................................. 3.0 5.9 10.4 19.9 30.7 44.7 47.9 44.2
------------------------------------------------------------------------
Total............................ 116.8 192.8 279.1 517.1 734.2 1032.0 1351.8 1453.0
========================================================================
As a percentage of GDP
------------------------------------------------------------------------
Individual income...................... 7.1 9.0 7.9 9.0 8.1 8.2 8.2 8.8
Corporate income....................... 3.7 3.3 2.6 2.4 1.5 1.6 2.2 2.3
Social insurance....................... 3.2 4.4 5.4 5.8 6.5 6.7 6.7 6.8
Excise................................. 2.1 1.6 1.1 0.9 0.9 0.6 0.8 0.7
Estate and gift........................ 0.4 0.4 0.3 0.2 0.2 0.2 0.2 0.2
Other.................................. 0.4 0.6 0.7 0.7 0.7 0.8 0.7 0.6
------------------------------------------------------------------------
Total............................ 17.0 19.1 18.0 19.0 17.9 18.2 18.8 19.4
========================================================================
As a percentage of revenues
------------------------------------------------------------------------
Individual income...................... 41.8 46.9 43.9 47.2 45.6 45.2 43.7 45.2
Corporate income....................... 21.8 17.0 14.6 12.5 8.4 9.1 11.6 11.8
Social insurance....................... 19.0 23.0 30.3 30.5 36.1 36.8 35.8 35.1
Excise................................. 12.5 8.1 5.9 4.7 4.9 3.4 4.3 3.7
Estate and gift........................ 2.3 1.9 1.7 1.2 0.9 1.1 1.1 1.2
Other.................................. 2.6 3.0 3.7 3.9 4.2 4.3 3.5 3.0
------------------------------------------------------------------------
Total............................ 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
----------------------------------------------------------------------------------------------------------------
Note.--GDP = gross domestic product.
Source: Congressional Budget Office.
TABLE I-12.--CONGRESSIONAL BUDGET OFFICE BASELINE REVENUE PROJECTIONS BY SOURCE AND AS A PERCENTAGE OF GDP, FISCAL YEARS 1997-2007
[In billions of dollars]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Revenue source 1997 1998 1999 2000 2001 2002 2004 2005 2006 2007
--------------------------------------------------------------------------------------------------------------------------------------------------------
Projections
---------------------------------------------------------------------------------------------
Individual income......................................... $676.4 $707.7 $740.5 $777.3 $816.9 $857.4 $947.2 $993.9 $1,042.1 $1,095.7
Corporate income.......................................... 179.1 183.7 187.1 188.9 192.7 197.9 213.3 222.9 233.7 244.5
Social insurance.......................................... 533.9 553.4 577.6 604.4 630.0 658.7 716.5 749.2 784.3 820.5
Excise.................................................... 53.7 52.2 52.7 53.2 53.8 54.5 55.6 56.2 56.9 57.6
Estate and gift........................................... 19.2 20.6 21.9 23.3 24.7 26.2 29.5 31.4 33.3 35.3
Customs duties............................................ 17.4 18.6 18.7 19.5 20.6 21.9 24.9 26.2 27.5 28.9
Other..................................................... 27.2 30.2 34.6 38.4 42.0 43.6 46.2 47.6 49.1 50.4
---------------------------------------------------------------------------------------------
Total............................................... 1506.9 1566.5 1633.2 1704.9 1780.6 1860.2 2033.1 2127.4 2226.8 2332.9
=============================================================================================
As a percentage of GDP
---------------------------------------------------------------------------------------------
Individual income......................................... 8.6 8.6 8.6 8.6 8.7 8.7 8.8 8.8 8.8 8.9
Corporate income.......................................... 2.3 2.2 2.2 2.1 2.0 2.0 2.0 2.0 2.0 2.0
Social insurance.......................................... 6.8 6.8 6.7 6.7 6.7 6.7 6.6 6.6 6.6 6.6
Excise.................................................... 0.7 0.6 0.6 0.6 0.6 0.6 0.5 0.5 0.5 0.5
Estate and gift........................................... 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3
Customs duties............................................ 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Other..................................................... 0.4 0.4 0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.4
---------------------------------------------------------------------------------------------
Total............................................... 19.2 19.1 19.0 19.0 18.9 18.8 18.8 18.8 18.8 18.8
--------------------------------------------------------------------------------------------------------------------------------------------------------
Note.--GDP = gross domestic product.
Source: Congressional Budget Office.
TABLE I-13.--REVENUES, OUTLAYS, AND DEFICITS, FISCAL YEARS 1962-96
[In billions of dollars]
----------------------------------------------------------------------------------------------------------------
Deficit (-) or surplus
------------------------------
Fiscal year Revenues Outlays Social Postal
Onbudget Security Service
----------------------------------------------------------------------------------------------------------------
1962......................................................... $99.7 $106.8 -$5.9 -$1.3 0
1963......................................................... 106.6 111.3 -4.0 -0.8 0
1964......................................................... 112.6 118.5 -6.5 0.6 0
1965......................................................... 116.8 118.2 -1.6 0.2 0
1966......................................................... 130.8 134.5 -3.1 -0.6 0
1967......................................................... 148.8 157.5 -12.6 4.0 0
1968......................................................... 153.0 178.1 -27.7 2.6 0
1969......................................................... 186.9 183.6 -0.5 3.7 0
1970......................................................... 192.8 195.6 -8.7 5.9 0
1971......................................................... 187.1 210.2 -26.1 3.0 0
1972......................................................... 207.3 230.7 -26.4 3.0 0
1973......................................................... 230.8 245.7 -15.4 0.5 0
1974......................................................... 263.2 269.4 -8.0 1.8 0
1975......................................................... 279.1 332.3 -55.3 2.0 0
1976......................................................... 298.1 371.8 -70.5 -3.2 0
1977......................................................... 355.6 409.2 -49.8 -3.9 0
1978......................................................... 399.6 458.7 -54.9 -4.3 0
1979......................................................... 463.3 504.0 -38.7 -2.0 0
1980......................................................... 517.1 590.9 -72.7 -1.1 0
1981......................................................... 599.3 678.2 -74.0 -5.0 0
1982......................................................... 617.8 745.8 -120.1 -7.9 0
1983......................................................... 600.6 808.4 -208.0 0.2 0
1984......................................................... 666.5 851.8 -185.7 0.3 0
1985......................................................... 734.2 946.4 -221.7 9.4 0
1986......................................................... 769.3 990.5 -238.0 16.7 0
1987......................................................... 854.4 1,004.2 -169.3 19.6 0
1988......................................................... 909.3 1,064.5 -194.0 38.8 0
1989......................................................... 991.2 1,143.7 -205.2 52.4 $0.3
1990......................................................... 1,032.0 1,253.2 -277.8 58.2 -1.6
1991......................................................... 1,055.0 1,324.4 -321.6 53.5 -1.3
1992......................................................... 1,091.3 1,381.7 -340.5 50.7 -0.7
1993......................................................... 1,154.4 1409.4 -300.4 46.8 -1.4
1994......................................................... 1,258.6 1,461.7 -258.8 56.8 -1.1
1995......................................................... 1,351.8 1,515.7 -226.3 60.4 2.0
1996......................................................... 1,453 1,560.3 -174.3 66.4 0.6
----------------------------------------------------------------------------------------------------------------
Source: Congressional Budget Office.
TABLE I-14.--REVENUES, OUTLAYS, AND DEFICITS AS A PERCENTAGE OF GDP, FISCAL YEARS 1962-96
[As a percentage of GDP]
----------------------------------------------------------------------------------------------------------------
Deficit (-) or surplus
-----------------------------
Revenues Outlays Social Postal
Onbudget Security Service
----------------------------------------------------------------------------------------------------------------
1962.......................................................... 17.6 18.8 -1.0 -0.2 0
1963.......................................................... 17.8 18.6 -0.7 -0.1 0
1964.......................................................... 17.6 18.5 -1.0 0.1 0
1965.......................................................... 17.0 17.2 -0.2 (\1\) 0
1966.......................................................... 17.3 17.8 -0.4 -0.1 0
1967.......................................................... 18.4 19.4 -1.6 0.5 0
1968.......................................................... 17.6 20.5 -3.2 0.3 0
1969.......................................................... 19.7 19.4 -0.1 0.4 0
1970.......................................................... 19.1 19.4 -0.9 0.6 0
1971.......................................................... 17.4 19.5 -2.4 0.3 0
1972.......................................................... 17.6 19.6 -2.2 0.3 0
1973.......................................................... 17.6 18.8 -1.2 (\1\) 0
1974.......................................................... 18.3 18.7 -0.6 0.1 0
1975.......................................................... 18.0 21.4 -3.6 0.1 0
1976.......................................................... 17.2 21.5 -4.1 -0.2 0
1977.......................................................... 18.0 20.8 -2.5 -0.2 0
1978.......................................................... 18.0 20.7 -2.5 -0.2 0
1979.......................................................... 18.5 20.2 -1.6 -0.1 0
1980.......................................................... 19.0 21.7 -2.7 (\1\) 0
1981.......................................................... 19.7 22.3 -2.4 -0.2 0
1982.......................................................... 19.2 23.2 -3.7 -0.2 0
1983.......................................................... 17.5 23.6 -6.1 (\1\) 0
1984.......................................................... 17.4 22.3 -4.9 (\1\) 0
1985.......................................................... 17.9 23.0 -5.4 0.2 0
1986.......................................................... 17.6 22.7 -5.4 0.4 0
1987.......................................................... 18.5 21.8 -3.7 0.4 0
1988.......................................................... 18.3 21.5 -3.9 0.8 0
1989.......................................................... 18.5 21.4 -3.8 1.0 (\1\)
1990.......................................................... 18.2 22.1 -4.9 1.0 (\1\)
1991.......................................................... 18.0 22.6 -5.5 0.9 (\1\)
1992.......................................................... 17.7 22.5 -5.5 0.8 (\1\)
1993.......................................................... 17.8 21.8 -4.6 0.7 (\1\)
1994.......................................................... 18.4 21.4 -3.8 0.8 (\1\)
1995.......................................................... 18.8 21.1 -3.1 0.9 (\1\)
1996.......................................................... 19.4 20.8 -2.3 0.9 (\1\)
----------------------------------------------------------------------------------------------------------------
\1\ Less than 0.05 percent.
Note.--GDP = gross domestic product.
Source: Congressional Budget Office.
TABLE I-15.--FEDERAL FINANCES AND THE FEDERAL DEBT, 1955-97
[Dollars in billions]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total deficit Federal debt, end of year
-------------------------------------------------------------------------------------------
Gross Held by government Held by the public
Fiscal year ----------------------- accounts ----------------------
Amount Percentage -----------------------
of GDP Anount Percentage Percentage Anount Percentage
of GDP Anount of GDP of GDP
--------------------------------------------------------------------------------------------------------------------------------------------------------
1955........................................................ -$3.0 -0.8 $274.4 69.4 $47.8 12.1 $226.6 57.3
1956........................................................ 3.9 0.9 272.7 63.9 50.5 11.8 222.2 52.1
1957........................................................ 3.4 0.8 272.3 60.5 52.9 11.8 219.3 48.7
1958........................................................ -2.8 -0.6 279.7 61.0 53.3 11.6 226.3 49.3
1959........................................................ -12.8 -2.6 287.5 58.7 52.8 10.8 234.7 47.9
1960........................................................ 0.3 0.1 290.5 56.1 53.7 10.4 236.8 45.7
1961........................................................ -3.3 -0.6 292.6 55.2 54.3 10.2 238.4 44.9
1962........................................................ -7.1 -1.3 302.9 53.4 54.9 9.7 248.0 43.7
1963........................................................ -4.8 -0.8 310.3 51.8 56.3 9.4 254.0 42.4
1964........................................................ -5.9 -0.9 316.1 49.4 59.2 9.3 256.8 40.1
1965........................................................ -1.4 -0.2 322.2 46.9 61.5 9.0 260.8 38.0
1966........................................................ -3.7 -0.5 328.5 43.6 64.8 8.6 263.7 35.0
1967........................................................ -8.6 -1.1 340.4 41.9 73.8 9.1 266.6 32.8
1968........................................................ -25.2 -2.9 368.7 42.5 79.1 9.1 289.5 33.4
1969........................................................ 3.2 0.3 365.8 38.6 87.7 9.2 278.1 29.3
1970........................................................ -2.8 -0.3 380.9 37.7 97.7 9.7 283.2 28.1
1971........................................................ -23.0 -2.1 408.2 37.9 105.1 9.8 303.0 28.1
1972........................................................ -23.4 -2.0 435.9 37.0 113.6 9.6 322.4 27.4
1973........................................................ -14.9 -1.1 466.3 35.7 125.4 9.6 340.9 26.1
1974........................................................ -6.1 -0.4 483.9 33.6 140.2 9.7 343.7 23.9
1975........................................................ -53.2 -3.4 541.9 34.9 147.2 9.5 394.7 25.4
1976........................................................ -73.7 -4.3 629.0 36.3 151.6 8.8 477.4 27.6
TQ.......................................................... NA NA 643.6 35.4 148.1 8.1 495.5 27.2
1977........................................................ -53.7 -2.7 706.4 35.8 157.3 8.0 549.1 27.9
1978........................................................ -59.2 -2.7 776.6 35.1 169.5 7.7 607.1 27.4
1979........................................................ -40.7 -1.6 829.4 33.2 189.2 7.6 640.3 25.7
1980........................................................ -73.8 -2.7 909.1 33.4 199.2 7.3 709.8 26.1
1981........................................................ -79.0 -2.6 994.8 32.6 209.5 6.9 785.3 25.8
1982........................................................ -128.0 -4.0 1,137.3 35.4 217.6 6.8 919.8 28.6
1983........................................................ -207.8 -6.1 1,371.7 40.1 240.1 7.0 1,131.6 33.1
1984........................................................ -185.4 -4.9 1,564.7 41.0 264.2 6.9 1,300.5 34.1
1985........................................................ -212.3 -5.2 1,817.5 44.3 317.6 7.7 1,499.9 36.6
1986........................................................ -221.2 -5.1 2,120.6 48.5 383.9 8.6 1,736.7 39.7
1987........................................................ -149.8 -3.3 2,346.1 50.9 457.4 9.9 1,888.7 41.0
1988........................................................ -155.2 -3.1 2,601.3 52.5 550.5 11.1 2,050.8 41.4
1989........................................................ -152.5 -2.8 2,868.0 53.6 678.2 12.7 2,189.9 40.9
1990........................................................ -221.2 -3.9 3,206.6 56.4 795.8 14.0 2,410.7 42.4
1991........................................................ -269.4 -4.6 3,598.5 61.4 910.4 15.5 2,688.1 45.9
1992........................................................ -290.4 -4.7 4,002.1 65.1 1,003.3 16.3 2,998.8 48.8
1993........................................................ -255.0 -3.9 4,351.4 67.3 1,103.9 17.1 3,247.5 50.2
1994........................................................ -203.1 -3.0 4,643.7 68.0 1,211.6 17.7 3,432.1 50.2
1995........................................................ -163.9 -2.3 4,921.0 68.5 1,317.6 18.3 3,603.4 50.1
1996........................................................ -107.3 -1.4 5,181.9 69.2 1,449.0 19.4 3,733.0 49.9
1997 \1\.................................................... -125.6 -1.6 5,453.7 69.4 1,577.9 20.1 3,875.8 49.3
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ 1997 figures are estimates.
NA--Not available.
Source: Executive Office of the President (1997, tables 1.1, 1.2, 7.1).
TABLE I-16.--CONGRESSIONAL BUDGET OFFICE PROJECTIONS OF INTEREST COSTS AND FEDERAL DEBT, 1996-2002
----------------------------------------------------------------------------------------------------------------
Fiscal year
Source Actual -----------------------------------------------------
1996 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Net interest outlays (billions of dollars)
--------------------------------------------------------------
Interest on public debt (gross interest) \1\..... $344 $359 $368 $380 $390 $400 $412
Interest received by trust funds:
Social Security.............................. -37 -43 -48 -53 -58 -64 -69
Other trust funds \2\........................ -61 -63 -61 -60 -59 -58 -56
--------------------------------------------------------------
Subtotal................................... -97 -106 -109 -113 -117 -121 -125
==============================================================
Other interest \3\............................... -5 -5 -7 -7 -7 -8 -8
--------------------------------------------------------------
Total, net interest, outlays............... 241 248 252 260 266 271 278
==============================================================
Federal debt, end of year (billions of dollars)
--------------------------------------------------------------
Gross Federal debt............................... 5,182 5,433 5,683 5,954 6,243 6,522 6,818
Debt held by government accounts:
Social Security.............................. 550 629 710 798 892 990 1,094
Other government accounts \2\................ 899 940 969 989 997 998 989
--------------------------------------------------------------
Subtotal................................... 1,449 1,569 1,679 1,787 1,889 1,989 2,053
==============================================================
Debt held by the public.......................... 3,733 3,864 4,004 4,167 4,353 4,534 4,735
Debt subject to limit \4\........................ 5,137 5,390 5,643 5,914 6,203 6,482 6,778
--------------------------------------------------------------
Federal debt as a percentage of GDP
--------------------------------------------------------------
Debt held by the public.......................... 49.9 49.4 48.9 48.6 48.4 48.1 48.0
----------------------------------------------------------------------------------------------------------------
\1\ Excludes interest costs of debt issued by agencies other than the Treasury (primarily deposit insurance
agencies).
\2\ Principally Civil Service retirement, military retirement, Medicare, unemployment insurance, and the highway
and the airport and airway trust funds.
\3\ Primarily interest on loans to the public and to the Resolution Trust Corporation and the Bank Insurance
Fund.
\4\ Differs from the gross Federal debt primarily because most debt issued by agencies other than the Treasury
is excluded from the debt limit.
Note.--Projections of interest and debt assume compliance with the discretionary spending caps in the Budget
Enforcement Act.
Source: Congressional Budget Office.
TABLE I-17.--TRUST FUND SURPLUSES, SELECTED FISCAL YEARS 1981-96
[In billions of dollars]
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Fiscal year
Account -------------------------------------------------------------------------------------------------------------------------------------
1981 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Social Security........................................... -$5 (\1\) (\1\) $9 $17 $20 $39 $52 $58 $54 $51 $47 $57 $60 $66
Medicare.................................................. 3 $6 $6 4 6 9 15 22 15 15 14 10 1 -7 9
Military retirement....................................... ...... ....... ....... 12 12 14 14 14 12 13 12 10 8 7 5
Civilian retirement \2\................................... 11 14 15 18 19 18 19 20 22 24 26 28 28 28 28
Unemployment.............................................. -1 -1 4 5 4 7 8 7 6 -3 -12 1 3 8 6
Highway and airport....................................... -2 1 4 2 1 2 2 4 2 4 2 -1 -5 -1 (\1\)
Other \3\................................................. 1 2 5 5 3 3 1 4 5 6 4 6 4 4 1
-------------------------------------------------------------------------------------------------------------------------------------
Total trust fund surplus.............................. 7 23 33 54 62 73 98 124 120 112 96 100 95 99 115
=====================================================================================================================================
Federal funds deficit................................. -86 -231 -218 -267 -283 -222 -253 -276 -342 -381 -386 -355 -299 -263 -222
Overall deficit....................................... -79 -208 -185 -212 -221 -150 -155 -153 -221 -270 -290 -255 -203 -164 -107
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ Less than $500 million.
\2\ Includes Civil Service retirement, Foreign Service retirement, and several smaller funds.
\3\ Includes primarily railroad retirement, employees' health insurance and life insurance, hazardous substance superfund, foreign military states, veterans life insurance trust fund, other
trust funds, overseas private investment corporations, abandoned mine redemption fund, nuclear disposal fund, and uranium enrichment decontamination and decommissioning fund.
Source: Congressional Budget Office.
TABLE I-18.--CONGRESSIONAL BUDGET OFFICE PROJECTIONS OF TRUST FUND SURPLUSES, FISCAL YEARS 1997-2002
[In billions of dollars]
----------------------------------------------------------------------------------------------------------------
Trust fund 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Social Security \1\................................. $79 $81 $88 $94 $98 $104
Medicare \2\........................................ -15 -16 -23 -33 -39 -51
Military retirement................................. 9 9 9 9 10 10
Civilian retirement \3\............................. 28 28 27 28 28 28
Unemployment........................................ 7 6 3 2 2 3
Highway and airport................................. -1 -3 -3 -3 -3 -4
Other \4\........................................... 3 3 3 3 3 4
-----------------------------------------------------------
Total trust fund surplus \5\.................... 110 109 106 101 99 94
===========================================================
Federal funds deficit \5\....................... -225 -231 -255 -273 -265 -281
-----------------------------------------------------------
Total deficit................................... -115 -122 -149 -172 -167 -188
===========================================================
Memorandum: Net transfers from Federal funds to
trust funds........................................ 240 257 273 290 301 322
----------------------------------------------------------------------------------------------------------------
\1\ Old-age and survivors insurance and disability insurance.
\2\ Hospital insurance and supplementary medical insurance.
\3\ Civil Service retirement, Foreign Service retirement, and several smaller funds.
\4\ Primarily railroad retirement, employees' health insurance and life insurance, Superfund, and various
veterans' insurance trust funds.
\5\ Assumes that discretionary spending reductions are made in nonfund programs.
Source: Congressional Budget Office.
TABLE I-19.--CONGRESSIONAL BUDGET OFFICE BASELINE, ADMINISTRATION, AND BLUE CHIP ECONOMIC PROJECTIONS, CALENDAR
YEARS 1996-2002
----------------------------------------------------------------------------------------------------------------
Forecast Projected
Projection category Estimated \1\ -----------------------------------------
1996 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Real GDP \2\ (percentage change, year over year):
Congressional Budget Office........................ 2.3 2.3 2.0 2.2 2.1 2.1 2.1
Administration..................................... 2.3 2.2 2.0 2.2 2.3 2.3 2.3
Blue chip.......................................... 2.4 2.6 2.1 2.1 2.5 2.4 2.3
GDP deflator (percentage change, year over year):
Congressional Budget Office........................ 2.1 2.3 2.5 2.6 2.6 2.6 2.6
Administration..................................... 2.2 2.5 2.6 2.6 2.6 2.6 2.6
Blue chip.......................................... 2.1 2.2 2.5 2.6 2.6 2.7 2.7
Consumer Price Index \3\ (percentage change, year over
year):
Congressional Budget Office........................ 2.9 2.9 2.9 3.0 3.0 3.0 3.0
Administration..................................... 2.7 2.7 2.7 2.7 2.7 2.7 2.7
Blue chip.......................................... 3.0 2.9 3.0 3.0 3.0 3.2 3.1
Civilian unemployment rate (percent): \4\
Congressional Budget Office........................ 5.4 5.3 5.6 5.8 5.9 6.0 6.0
Administration..................................... 5.4 5.3 5.5 5.5 5.5 5.5 5.5
Blue chip.......................................... 5.4 5.4 5.5 5.9 5.9 5.7 5.5
Three-month Treasury bill rate (percent): \5\
Congressional Budget Office........................ 5.0 5.0 5.0 4.9 4.7 4.6 4.6
Administration..................................... 5.0 5.0 4.7 4.4 4.2 4.0 4.0
Blue chip.......................................... 5.1 5.2 5.2 5.0 5.0 5.2 5.2
Ten-year Treasury note rate (percent):
Congressional Budget Office........................ 6.4 6.2 6.2 6.2 6.2 6.2 6.2
Administration..................................... 6.4 6.1 5.9 5.5 5.3 5.1 5.1
Blue chip \6\...................................... 6.4 6.5 6.5 6.4 6.4 6.5 6.5
----------------------------------------------------------------------------------------------------------------
\1\ The blue chip forecast was prepared 3 months later than the other forecasts, so the blue chip data for 1996
are actual.
\2\ Consumer Price Index for all Urban Consumers (CPI-U).
Note.--The forecast labeled ``administration'' in this table reflects the administration's estimate of its own
programs' effects on the economy. The Congressional Budget Office forecast is based on data available through
November 1996 and does not reflect fourth-quarter data for gross domestic product or the Consumer Price Index
published in January 1997. The blue chip forecasts are based on a survey of private forecasters published on
March 10, 1997. Congressional Budget Office's forecasts projections are based on current policy assumptions,
whereas the administration's forecasts and projections are based on balanced budget economic assumptions.
Source: Congressional Budget Office; Office of Management and Budget; Eggert Economic Enterprises, Inc., Blue
Chip Economic Indicators.
TABLE I-20.--EFFECTS ON CONGRESSIONAL BUDGET OFFICE BUDGET PROJECTIONS OF SELECTED CHANGES IN ECONOMIC
ASSUMPTIONS, FISCAL YEARS 1997-2002
[In billions of dollars]
----------------------------------------------------------------------------------------------------------------
Category 1997 1998 1999 2000 2001 2002
----------------------------------------------------------------------------------------------------------------
Real growth: Effect of 0.1 percentage point lower annual rate beginning January 1997
----------------------------------------------------------------------------------------------------------------
Change in revenues............................................. -$1 -$2 -$4 -$6 -$8 -$10
Change in outlays.............................................. (\1\) (\1\) (\1\) 1 1 2
Change in deficit.............................................. 1 2 4 6 9 12
----------------------------------------------------------------------------------------------------------------
Inflation: Effect of 1 percentage point higher annual rate beginning January 1996
----------------------------------------------------------------------------------------------------------------
Change in revenues............................................. 8 24 41 58 78 99
Change in outlays.............................................. 7 30 52 75 99 124
Change in deficit.............................................. -2 6 12 17 21 25
----------------------------------------------------------------------------------------------------------------
Interest rates: Effect of 1 percentage point higher annual rate beginning January 1996
----------------------------------------------------------------------------------------------------------------
Change in revenues............................................. 0 0 0 0 0 0
Change in outlays.............................................. 6 18 27 34 41 48
Change in deficit.............................................. 6 18 27 34 41 48
----------------------------------------------------------------------------------------------------------------
\1\ Less than $500 million.
Note.--See appendix D in Congressional Budget Office (January 1997) for an explanation of our revised rules of
thumb annual report.
Source: Congressional Budget Office.
TABLE I-21.--PRICE LEVELS, 1970-2002
----------------------------------------------------------------------------------------------------------------
Chain-
type All CPI-U CPI-X1
Year GDP items fiscal Food and Housing Medical CPI-X1 fiscal
price (CPI-U) year beverage \1\ care year
index
----------------------------------------------------------------------------------------------------------------
1970............................... 30.6 38.8 37.8 40.1 36.4 34.0 41.3 40.4
1971............................... 32.1 40.5 39.7 41.4 38.0 36.1 43.1 42.3
1972............................... 33.5 1.8 41.2 43.1 39.5 37.3 44.5 43.8
1973............................... 35.4 44.4 42.8 48.8 41.2 38.8 47.2 45.5
1974............................... 38.5 49.3 46.7 55.5 45.8 42.4 52.0 49.4
1975............................... 42.2 53.8 51.8 60.2 50.6 47.5 56.3 54.3
1976 \2\........................... 44.6 56.9 55.5 62.1 53.7 52.0 59.5 58.0
1977............................... 47.5 60.6 59.7 65.8 57.4 57.0 63.2 62.3
1978............................... 50.9 65.2 63.9 72.2 62.4 61.8 67.6 66.3
1979............................... 55.3 72.6 70.5 79.9 70.1 67.5 74.1 72.2
1980............................... 60.4 82.4 80.0 86.8 81.0 74.9 82.3 80.3
1981............................... 66.1 90.9 88.9 93.5 90.4 82.9 90.2 88.3
1982............................... 70.2 96.5 95.5 97.3 96.9 92.6 95.7 94.5
1983............................... 73.2 99.6 98.8 99.5 99.5 100.7 99.6 98.7
1984............................... 75.9 103.9 102.9 103.2 103.6 107.0 103.9 102.9
1985............................... 78.6 107.6 106.7 105.6 107.7 113.6 107.6 106.7
1986............................... 80.6 109.7 109.3 109.1 110.9 122.2 109.7 109.3
1987............................... 83.1 113.7 112.5 113.6 114.2 130.3 113.7 112.5
1988............................... 86.1 118.4 117.1 118.2 118.4 138.8 118.4 117.1
1989............................... 89.7 124.0 122.6 125.0 122.9 149.4 124.0 122.6
1990............................... 93.6 130.8 128.8 132.1 128.5 163.0 130.8 128.8
1991............................... 97.3 136.3 135.3 136.8 133.5 177.2 136.3 135.3
1992............................... 100.0 140.4 139.3 138.7 137.4 190.3 140.4 139.3
1993............................... 102.6 144.6 143.6 141.6 141.1 201.6 144.6 143.6
1994............................... 104.9 148.3 147.4 144.9 144.7 211.2 148.3 147.4
1995............................... 107.6 152.5 151.5 148.9 148.3 220.7 152.5 151.5
1996............................... 109.7 157.0 155.7 153.7 152.7 228.5 157.0 155.7
1997 \3\........................... 112.4 161.4 160.3 NA NA NA 161.4 160.3
1998 \3\........................... 115.2 166.2 164.9 NA NA NA 166.2 164.9
1999 \3\........................... 118.2 171.1 169.8 NA NA NA 171.1 169.8
2000 \3\........................... 121.3 176.1 174.8 NA NA NA 176.1 174.8
2001 \3\........................... 124.5 181.4 180.1 NA NA NA 181.4 180.1
2002 \3\........................... 127.7 186.8 185.5 NA NA NA 186.8 185.5
----------------------------------------------------------------------------------------------------------------
\1\ Includes alcoholic beverages, not shown separately.
\2\ In 1976, the fiscal year was moved from July-June to October-September. The 3-month period from July through
September 1976 is not represented in this table. The value for CPI-U during this period is 57.3; the value of
CPI-X1 during this period is 59.9.
\3\ Congressional Budget Office forecast from The Economic and Budget Outlook: fiscal years 1997-2006, May 1996.
NA--Not available.
Note.--Data beginning in 1978 are for all urban consumers; earlier data are for urban wage earners and clerical
workers. Data for CPI-U beginning 1983 incorporate a rental equivalence measure for homeowners' costs (the
measure used in determining CPI-X1) and therefore are not strictly comparable with earlier figures.
Source: Department of Commerce, Bureau of Economic Analysis; Department of Labor, Bureau of Labor Statistics;
and Congressional Budget Office.
REFERENCES
Congressional Budget Office. (1997, January). The economic and
budget outlook: Fiscal years 1998-2007. Washington, DC:
U.S. Government Printing Office.
Eggert Economic Enterprises, Inc. (1997, January 10). Blue Chip
Economic Indicators. Alexandria, Virginia: Capitol
Publications.
Executive Office of the President. (1997). Budget of the U.S.
Government, fiscal year 1998 (Historical Tables).
Washington, DC: U.S. Government Printing Office.
Office of Management and Budget. (1996, July). Midsession
review of the 1997 budget. Washington, DC: Author.