Federal Government receipts and expenditures

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Table 4.7 Federal Government receipts and expenditures

Category

Billions of current dollars

Percent distribution

Annual rate of change

1998

2008

2018

2028

1998

2008

2018

2028

1998–08

2008–18

2018–28

Receipts

$1,789.8

$2,577.5

$3,486.2

$5,179.3

100.0

100.0

100.0

100.0

3.7

3.1

4.0

Tax receipts

1,095.3

1,489.5

1,957.0

2,962.8

61.2

57.8

56.1

57.2

3.1

2.8

4.2

Personal taxes

831.2

1,176.3

1,611.6

2,455.3

46.4

45.6

46.2

47.4

3.5

3.2

4.3

Corporate income taxes

177.7

202.0

157.7

243.5

9.9

7.8

4.5

4.7

1.3

-2.4

4.4

Taxes on production and imports

80.7

94.0

160.3

224.1

4.5

3.6

4.6

4.3

1.5

5.5

3.4

Taxes from the rest of the world

5.7

17.2

27.4

39.9

0.3

0.7

0.8

0.8

11.7

4.8

3.8

Contributions for social insurance

617.4

974.5

1,343.0

2,009.3

34.5

37.8

38.5

38.8

4.7

3.3

4.1

Income receipts on assets

21.6

33.6

38.3

58.9

1.2

1.3

1.1

1.1

4.5

1.3

4.4

Interest receipts

17.4

19.8

31.4

49.0

1.0

0.8

0.9

0.9

1.3

4.7

4.6

Rents and royalties

4.2

13.8

6.9

9.9

0.2

0.5

0.2

0.2

12.6

-6.7

3.7

Transfer receipts

21.5

46.5

73.0

100.6

1.2

1.8

2.1

1.9

8.0

4.6

3.3

From business

12.7

27.0

45.4

59.2

0.7

1.0

1.3

1.1

7.8

5.3

2.7

From persons

8.8

19.5

27.6

41.4

0.5

0.8

0.8

0.8

8.3

3.5

4.1

Surplus of government enterprises

7.6

1.1

-8.8

-1.6

0.4

0.0

-0.3

0.0

-17.6

-15.7

 

Expenditures

1,788.4

3,208.6

4,472.1

6,776.7

100.0

100.0

100.0

100.0

6.0

3.4

4.2

Consumption expenditures

437.8

878.9

1,032.0

1,257.5

24.5

27.4

23.1

18.6

7.2

1.6

2.0

Transfer payments

949.1

1,891.7

2,829.2

4,594.4

53.1

59.0

63.3

67.8

7.1

4.1

5.0

Government social benefits

730.4

1,478.5

2,203.9

3,718.1

40.8

46.1

49.3

54.9

7.3

4.1

5.4

Social Security benefits

369.2

605.5

974.2

1,785.3

20.6

18.9

21.8

26.3

5.1

4.9

6.2

Medicare benefits

205.6

461.6

734.4

1,271.7

11.5

14.4

16.4

18.8

8.4

4.8

5.6

Unemployment benefits

19.7

51.1

25.5

37.2

1.1

1.6

0.6

0.5

10.0

-6.7

3.8

Other benefits to persons

127.7

344.9

446.9

585.4

7.1

10.7

10.0

8.6

10.4

2.6

2.7

Benefits to the rest of the world

8.2

15.4

22.9

38.5

0.5

0.5

0.5

0.6

6.5

4.0

5.3

Other transfer payments

218.8

413.1

625.3

876.5

12.2

12.9

14.0

12.9

6.6

4.2

3.4

Grants-in-aid to state & local government

200.8

371.2

578.1

812.2

11.2

11.6

12.9

12.0

6.3

4.5

3.5

To the rest of the world

18.0

41.9

47.2

64.3

1.0

1.3

1.1

0.9

8.8

1.2

3.1

Interest payments

365.6

388.4

545.3

861.3

20.4

12.1

12.2

12.7

0.6

3.5

4.7

To persons and business

293.5

291.3

430.2

543.7

16.4

9.1

9.6

8.0

-0.1

4.0

2.4

To the rest of the world

72.1

97.0

115.0

317.5

4.0

3.0

2.6

4.7

3.0

1.7

10.7

Subsidies

35.9

49.6

65.7

63.5

2.0

1.5

1.5

0.9

3.3

2.9

-0.3

 

Net Federal Government saving

1.4

-631.1

-985.9

-1,597.5

4.6

4.9

Surplus or deficit as percentage of gross domestic product

0.0

-4.3

-4.8

-5.2

1.1

0.9

Note: Dash indicates data not computable or not applicable.
Source: Historical data: Bureau of Economic Analysis; Projected data: Bureau of Labor Statistics.

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Last Modified Date: September 4, 2019