Receipts and Outlays 1940-2005

  Table 1.3-SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS(-) IN CURRENT DOLLARS, CONSTANT (FY 1996) DOLLARS, AND AS PERCENTAGES OF GDP: 1940-2005
  (dollar amounts in billions)
Fiscal Year In Current Dollars   In Constant (FY 1996 Dollars) Addendum: As Percentages of GDP
Receipts Outlays Surplus or Deficit (-)   Receipts Outlays Surplus or Deficit (-) Composite Deflator Receipts Outlays Surplus or Deficit (-)
1940 6.5 9.5 -2.9   80.4 116.3 -35.9 0.0814 6.8 9.8 -3.0
1941 8.7 13.7 -4.9   101.9 159.7 -57.8 0.0855 7.6 12.0 -4.3
1942 14.6 35.1 -20.5   156.2 375.0 -218.8 0.0937 10.1 24.4 -14.2
1943 24.0 78.6 -54.6   219.6 718.7 -499.1 0.1093 13.3 43.6 -30.3
1944 43.7 91.3 -47.6   385.8 805.1 -419.4 0.1134 20.9 43.7 -22.8
                       
1945 45.2 92.7 -47.6   400.3 821.9 -421.6 0.1128 20.4 41.9 -21.5
1946 39.3 55.2 -15.9   366.6 515.2 -148.7 0.1072 17.6 24.8 -7.1
1947 38.5 34.5 4.0   332.9 298.2 34.7 0.1157 16.4 14.7 1.7
1948 41.6 29.8 11.8   361.4 258.8 102.6 0.1150 16.2 11.6 4.6
1949 39.4 38.8 0.6   327.1 322.3 4.8 0.1205 14.5 14.3 0.2
                       
1950 39.4 42.6 -3.1   307.7 332.0 -24.3 0.1282 14.4 15.6 -1.1
1951 51.6 45.5 6.1   381.5 336.4 45.1 0.1353 16.1 14.2 1.9
1952 66.2 67.7 -1.5   469.3 480.0 -10.8 0.1410 19.0 19.4 -0.4
1953 69.6 76.1 -6.5   471.3 515.2 -44.0 0.1477 18.7 20.4 -1.7
1954 69.7 70.9 -1.2   455.9 463.4 -7.5 0.1529 18.4 18.7 -0.3
                       
1955 65.5 68.4 -3.0   424.7 444.2 -19.4 0.1541 16.6 17.3 -0.8
1956 74.6 70.6 3.9   460.1 435.8 24.3 0.1621 17.4 16.5 0.9
1957 80.0 76.6 3.4   470.3 450.2 20.1 0.1701 17.8 17.0 0.8
1958 79.6 82.4 -2.8   444.6 460.1 -15.5 0.1791 17.3 17.9 -0.6
1959 79.2 92.1 -12.8   430.7 500.5 -69.8 0.1840 16.1 18.7 -2.6
                       
1960 92.5 92.2 0.3   498.6 497.0 1.6 0.1855 17.8 17.7 0.1
1961 94.4 97.7 -3.3   496.0 513.5 -17.5 0.1903 17.8 18.4 -0.6
1962 99.7 106.8 -7.1   516.5 553.5 -37.0 0.1930 17.5 18.8 -1.3
1963 106.6 111.3 -4.8   530.2 553.8 -23.7 0.2010 17.8 18.5 -0.8
1964 112.6 118.5 -5.9   551.5 580.5 -29.0 0.2042 17.5 18.5 -0.9
                       
1965 116.8 118.2 -1.4   564.9 571.7 -6.8 0.2068 17.0 17.2 -0.2
1966 130.8 134.5 -3.7   612.8 630.1 -17.3 0.2135 17.3 17.8 -0.5
1967 148.8 157.5 -8.6   673.4 712.5 -39.1 0.2210 18.3 19.4 -1.1
1968 153.0 178.1 -25.2   663.1 772.1 -109.1 0.2307 17.6 20.5 -2.9
1969 186.9 183.6 3.2   767.2 753.9 13.3 0.2436 19.7 19.3 0.3
                       
1970 192.8 195.6 -2.8   747.0 758.0 -11.0 0.2581 19.0 19.3 -0.3
1971 187.1 210.2 -23.0   681.2 765.1 -83.8 0.2747 17.3 19.4 -2.1
1972 207.3 230.7 -23.4   708.5 788.4 -79.9 0.2926 17.6 19.6 -2.0
1973 230.8 245.7 -14.9   745.7 793.9 -48.2 0.3095 17.6 18.7 -1.1
1974 263.2 269.4 -6.1   786.9 805.3 -18.3 0.3345 18.3 18.7 -0.4
                       
1975 279.1 332.3 -53.2   758.6 903.3 -144.7 0.3679 17.9 21.3 -3.4
1976 298.1 371.8 -73.7   754.8 941.5 -186.7 0.3949 17.2 21.4 -4.2
TQ 81.2 96.0 -14.7   198.8 234.9 -36.1 0.4086 17.7 20.9 -3.2
1977 355.6 409.2 -53.7   830.4 955.7 -125.3 0.4282 18.0 20.7 -2.7
1978 399.6 458.7 -59.2   876.0 1,005.8 -129.8 0.4561 18.0 20.7 -2.7
1979 463.3 504.0 -40.7   938.8 1,021.3 -82.5 0.4935 18.5 20.1 -1.6
                       
1980 517.1 590.9 -73.8   952.0 1,087.9 -135.9 0.5432 18.9 21.6 -2.7
1981 599.3 678.2 -79.0   998.8 1,130.4 -131.6 0.6000 19.6 22.2 -2.6
1982 617.8 745.8 -128.0   963.6 1,163.2 -199.6 0.6411 19.1 23.1 -4.0
1983 600.6 808.4 -207.8   894.2 1,203.7 -309.4 0.6716 17.4 23.5 -6.0
1984 666.5 851.9 -185.4   946.8 1,210.2 -263.4 0.7039 17.3 22.1 -4.8
                       
1985 734.1 946.4 -212.3   1,008.6 1,300.4 -291.7 0.7278 17.7 22.9 -5.1
1986 769.2 990.5 -221.2   1,032.1 1,328.9 -296.9 0.7453 17.5 22.5 -5.0
1987 854.4 1,004.1 -149.8   1,116.1 1,311.7 -195.6 0.7655 18.4 21.6 -3.2
1988 909.3 1,064.5 -155.2   1,151.6 1,348.1 -196.5 0.7896 18.1 21.2 -3.1
1989 991.2 1,143.7 -152.5   1,208.9 1,394.9 -186.0 0.8199 18.3 21.2 -2.8
                       
1990 1,032.0 1,253.2 -221.2   1,217.1 1,478.0 -260.9 0.8479 18.0 21.8 -3.9
1991 1,055.0 1,324.4 -269.4   1,194.0 1,498.9 -304.8 0.8836 17.8 22.3 -4.5
1992 1,091.3 1,381.7 -290.4   1,198.3 1,517.2 -318.9 0.9107 17.5 22.2 -4.7
1993 1,154.4 1,409.5 -255.1   1,234.8 1,507.7 -272.9 0.9349 17.6 21.5 -3.9
1994 1,258.6 1,461.9 -203.3   1,317.5 1,530.3 -212.8 0.9553 18.1 21.0 -2.9
                       
1995 1,351.8 1,515.8 -164.0   1,382.8 1,550.6 -167.8 0.9776 18.5 20.7 -2.2
1996 1,453.1 1,560.6 -107.5   1,453.1 1,560.6 -107.5 1.0000 18.9 20.3 -1.4
1997 1,579.3 1,601.3 -22.0   1,550.9 1,572.5 -21.6 1.0183 19.3 19.6 -0.3
1998 1,721.8 1,652.6 69.2   1,672.0 1,604.8 67.2 1.0298 19.9 19.1 0.8
1999 1,827.5 1,703.0 124.4   1,745.1 1,626.3 118.8 1.0472 20.0 18.7 1.4
                       
2000 estimate 1,956.3 1,789.6 166.7   1,825.9 1,670.3 155.6 1.0714 20.4 18.7 1.7
2001 estimate 2,019.0 1,835.0 184.0   1,842.2 1,674.3 167.9 1.0960 20.1 18.3 1.8
2002 estimate 2,081.2 1,895.3 185.9   1,855.3 1,689.5 165.7 1.1218 19.8 18.0 1.8
2003 estimate 2,147.5 1,962.9 184.6   1,868.8 1,708.2 160.7 1.1491 19.6 17.9 1.7
2004 estimate 2,236.1 2,041.1 195.0   1,899.2 1,733.6 165.6 1.1774 19.4 17.7 1.7
                       
2005 estimate 2,340.9 2,125.5 215.4   1,940.2 1,761.7 178.6 1.2065 19.4 17.6 1.8
  Note: GDP, percentages of GDP, deflators and constant dollar amounts for years prior to 1960 are OMB estimates based on detailed historical GDP series for which revised data are not yet available from the Bureau of Economic Analysis. For additional detail
  Note: The surplus allocation for debt reduction is part of the President's overall budgetary framework to extend the solvency of Social Security and Medicare, and is shown in Table S-1 in Part 6 of the 2001 Budget.
  Table 1.3-SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS(-) IN CURRENT DOLLARS, CONSTANT (FY 1996) DOLLARS, AND AS PERCENTAGES OF GDP: 1940-2005
  (dollar amounts in billions)
Fiscal Year In Current Dollars
Receipts Outlays Surplus or Deficit (-)
1940 6.5 9.5 -2.9
1941 8.7 13.7 -4.9
1942 14.6 35.1 -20.5
1943 24.0 78.6 -54.6
1944 43.7 91.3 -47.6

Last Updated on 3/12/00
By Franklin Mancuso