RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS(-): 1940-2011
(billions of dollars)
Public
Total Total Unified Public Def w/o Gross OASDI Medicare
Year Receipts Outlays Deficit Deficit OASDI Deficit Surplus Surplus
---- -------- ------- ------- ------- ------- ------- ------- --------
1940 6.5 9.5 -2.9 0.6 0.0
1941 8.7 13.7 -4.9 -5.5 -6.1 -6.8 0.7 0.0
1942 14.6 35.1 -20.5 -19.5 -20.4 -21.7 0.8 0.0
1943 24.0 78.6 -54.6 -60.0 -61.1 -63.4 1.0 0.0
1944 43.7 91.3 -47.6 -57.0 -58.2 -61.4 1.2 0.0
1945 45.2 92.7 -47.6 -50.4 -51.6 -56.0 1.2 0.0
1946 39.3 55.2 -15.9 -6.7 -7.7 -10.9 1.0 0.0
1947 38.5 34.5 4.0 17.5 16.4 13.8 1.2 0.0
1948 41.6 29.8 11.8 8.1 6.8 5.1 1.2 0.0
1949 39.4 38.8 0.6 1.9 0.7 -0.6 1.3 0.0
1950 39.4 42.6 -3.1 -4.7 -6.3 -4.2 1.6 0.0
1951 51.6 45.5 6.1 4.7 2.9 1.6 1.8 0.0
1952 66.2 67.7 -1.5 -0.4 -2.3 -3.8 1.9 0.0
1953 69.6 76.1 -6.5 -3.6 -5.4 -6.9 1.8 0.0
1954 69.7 70.9 -1.2 -6.1 -7.8 -4.8 1.7 0.0
1955 65.5 68.4 -3.0 -2.1 -3.2 -3.6 1.1 0.0
1956 74.6 70.6 3.9 4.5 3.0 1.7 1.5 0.0
1957 80.0 76.6 3.4 2.8 2.1 0.4 0.8 0.0
1958 79.6 82.4 -2.8 -7.0 -7.6 -7.4 0.5 0.0
1959 79.2 92.1 -12.8 -8.4 -7.7 -7.8 -0.7 0.0
1960 92.5 92.2 0.3 -2.1 -1.9 -3.1 -0.2 0.0
1961 94.4 97.7 -3.3 -1.5 -1.9 -2.1 0.4 0.0
1962 99.7 106.8 -7.1 -9.7 -8.4 -10.3 -1.3 0.0
1963 106.6 111.3 -4.8 -6.0 -5.2 -7.4 -0.8 0.0
1964 112.6 118.5 -5.9 -2.9 -3.5 -5.7 0.6 0.0
1965 116.8 118.2 -1.4 -3.9 -4.1 -6.3 0.2 0.0
1966 130.8 134.5 -3.7 -2.9 -2.3 -6.2 -0.6 0.9
1967 148.8 157.5 -8.6 -2.9 -6.9 -11.9 4.0 1.0
1968 153.0 178.1 -25.2 -22.9 -25.5 -28.2 2.6 -0.1
1969 186.9 183.6 3.2 11.4 7.7 2.9 3.7 0.7
1970 192.8 195.6 -2.8 -5.1 -10.9 -15.2 5.9 0.3
1971 187.1 210.2 -23.0 -19.8 -22.9 -27.3 3.0 0.7
1972 207.3 230.7 -23.4 -19.3 -22.4 -27.8 3.1 -0.1
1973 230.8 245.7 -14.9 -18.5 -19.0 -30.4 0.5 1.8
1974 263.2 269.4 -6.1 -2.8 -4.6 -17.6 1.8 4.1
1975 279.1 332.3 -53.2 -51.0 -53.0 -58.0 2.0 2.1
1976 298.1 371.8 -73.7 -82.7 -79.5 -87.0 -3.2 0.7
1977 355.6 409.2 -53.7 -71.7 -66.4 -77.4 -3.9 1.2
1978 399.6 458.7 -59.2 -58.0 -53.8 -70.2 -4.3 2.4
1979 463.3 504.0 -40.7 -33.2 -31.2 -52.9 -2.0 2.6
1980 517.1 590.9 -73.8 -71.6 -70.5 -79.6 -1.1 0.7
1981 599.3 678.2 -79.0 -77.5 -72.5 -85.8 -5.0 2.8
1982 617.8 745.8 -128.0 -135.2 -127.2 -142.5 -7.9 4.8
1983 600.6 808.4 -207.8 -212.7 -225.4 -234.4 0.2 6.2
1984 666.5 851.9 -185.4 -169.7 -170.0 -192.9 0.3 5.6
1985 734.1 946.4 -212.3 -200.3 -207.8 -252.9 9.4 4.1
1986 769.2 990.5 -221.2 -233.4 -239.5 -303.1 16.7 5.5
1987 854.4 1004.1 -149.8 -149.2 -168.7 -225.5 19.6 8.9
1988 909.3 1064.5 -155.2 -161.9 -200.7 -255.2 38.8 15.3
1989 991.2 1143.7 -152.5 -139.1 -191.6 -266.7 52.4 22.4
1990 1032.0 1253.2 -221.2 -220.9 -279.1 -338.5 58.2 15.5
1991 1055.0 1324.4 -269.4 -277.5 -331.0 -391.9 53.5 15.4
1992 1091.3 1381.7 -290.4 -310.8 -361.5 -403.6 50.7 13.6
1993 1154.4 1409.5 -255.1 -248.7 -295.5 -349.3 46.8 10.2
1994 1258.6 1461.9 -203.3 -184.7 -241.5 -292.3 56.8 1.1
1995 1351.8 1515.8 -164.0 -171.3 -231.8 -277.3 60.4 -7.1
1996 1453.1 1560.6 -107.5 -129.7 -196.1 -260.9 66.4 8.9
1997 1579.3 1601.3 -22.0 -38.3 -119.6 -187.8 81.3 -1.1
1998 1721.8 1652.6 69.2 51.2 -48.2 -109.0 99.4 6.6
1999 1827.5 1702.9 124.6 88.7 -36.0 -127.4 124.7 26.3
2000 2025.2 1788.8 236.4 222.8 71.0 -22.9 151.8 29.9
2001 2136.9 1856.2 280.7 235.9 77.2 4.0 158.7 22.7
2002 2191.7 1960.6 231.2 227.4 52.6 -38.7 174.8 33.5
2003 2258.2 2016.2 242.0 227.3 34.6 -60.1 192.7 39.7
2004 2338.8 2076.7 262.1 246.3 36.5 -59.8 209.8 41.2
2005 2437.8 2168.7 269.0 253.8 18.5 -72.1 235.3 46.3
2006 2528.7 2223.9 304.8 291.2 40.7 -57.3 250.6 58.2
2007 2643.3 2303.4 339.9 326.2 103.4 -40.1
2008 2770.6 2397.9 372.7 198.0 -65.1 -185.0
2009 2909.9 2490.3 419.6 125.0 -148.0 -277.0
2010 3058.4 2593.5 465.0 71.0 -215.2 -355.0
2011 3232.6 2706.3 526.2 50.0 -390.0
* estimated
Note: Public Deficit equals change in Public Debt; Gross Deficit equals change
Gross Debt; Gross Debt equals Public Debt plus debt held by government
accounts; OASDI includes Old-Age and Survivors Insurance Fund (OAS) and
Disability Insurance Fund (DI); negative numbers denote deficits
Source: Budget of the United States Government, FY 2002, Historical Tables,
tables 1.1, 7.1, 13.1; Analytical Perspectives, tables 12-3 and 15-1;
2001 Annual OASDI Trustees Report, page 131, Table VI.C3
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DEBT HELD BY GOVERNMENT ACCOUNTS (billions of dollars)
Investment or disinvestment Holdings
----------------------------- end of
2000 % of 2001 2002 2002 % of
Description actual total est. est. est. total
---------------------------------- ------ ----- ------ ------ ------- -----
Old-age and survivors trust fund.. 131.3 53.3 137.1 151.4 1182.0 43.5
Civil Service retirement & disabil 31.3 12.7 31.2 31.2 574.4 21.1
Hospital insurance trust fund..... 15.1 6.1 28.3 33.7 230.9 8.5
Disability insurance trust fund... 21.0 8.5 21.7 23.1 158.5 5.8
Military retirement trust fund.... 8.1 3.3 2.6 6.2 158.2 5.8
Unemployment trust fund........... 9.0 3.7 6.5 6.7 99.5 3.7
Highway and Airport trust funds... 3.6 1.5 4.1 1.2 49.4 1.8
Federal Deposit Insurance Corp.... 1.8 0.7 0.1 0.6 43.3 1.6
Supplementary medical insurance... 18.5 7.5 -5.6 -0.2 39.3 1.4
Other government accounts......... 6.5 2.6 5.9 12.3 181.4 6.7
--------------------------------------------------------------------------------
Total investment in Federal debt.. 246.3 100.0 231.9 266.1 2716.9 100.0
Source: Budget of the United States Government, FY 2002, Analytical
Perspectives, page 234, table 12-5
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