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Spending History 2000 - 2004


UNITED STATES REVENUES AND EXPENDITURES
Federal Fiscal Years 2000-2004
(In Billions of Dollars)
Numbers may not add exactly due to rounding.

 
2000
(Actual)
2001
(Actual)
2002
(Actual)
2003
(Actual)
2004
(Actual)
REVENUES
Individual Income Taxes
 
1,004.5
994.3
858.3
793.7
809.0
Corporate Income Taxes
 
207.3
151.1
148.0
131.8
189.4
Social Insurance Taxes1
652.9
694.0
700.8
713.0
733.4
Excise Taxes2
68.9
66.2
67.0
67.5
69.9
Estate & Gift Taxes
 
29.0
28.4
26.5
22.0
24.8
Customs Duties
 
19.9
19.4
18.6
19.9
21.1
Miscellaneous Receipts
 
    42.8
   37.8
   33.9
   34.5
   32.8
TOTAL REVENUES
 
2,025.2
1,991.2
1,853.2
1,782.3
1,880.3
 
OUTLAYS
 
Discretionary Outlays
 
 
 
 
 
 
Defense
 
295.0
306.1
348.9
404.9
454.1
International
 
21.3
22.5
26.2
27.9
33.8
Domestic
 
298.6
320.8
359.2
392.6
407.5
 
614.8
649.3
734.3
825.4
895.3
Mandatory Outlays
 
 
 
 
 
 
Social Security
 
406.0
429.4
452.1
470.5
491.5
Medicare
 
216.0
237.9
253.1
274.2
297.2
Medicaid
 
117.9
129.4
147.5
160.7
176.2
Income Support 3
133.5
142.7
179.9
196.4
190.7
Other Retirement &
Disability
113.8
116.3
124.9
129.4
135.0
Other Programs
42.6
38.8
38.6
50.5
55.6
Net Interest4
223.0
206.2
171.0
153.1
160.2
Offsetting Receipts5
 -78.8
 -86.8
 -91.0
-100.2
-108.7
 
1,174.0
1,213.9
1,276.1
1,334.6
1,397.7
 
TOTAL OUTLAYS
1,788.8
1,863.2
2,010.4
2,160.0
2,293.0
           
Surplus/Deficit
236.4
128.0
-157.2
-377.7
-413.0
           
Standardized Budget
Surplus/Deficit6
 
116.0
115.0
-117.0
-303.0
-288.0
           
 
U.S. DEBT
Debt Held by the Public7
 
3,409.8
3,319.6
3,540.4
3,913.4
4,295.5
 
Intragovernmental Debt8
2,268.9
2,468.2
2,675.1
2,859.1
3,071.7
 
Total U.S. Debt
5,678.7
5,787.8
6,215.5
6,772.5
7,367.2
 
 
 
 
 
 
 
 
Gross Domestic Product (GDP)9
9,708.0
10,060.0
10,389.0
10,841.0
11,545.0
           
 
           
Surplus/Deficit as Percentage of GDP
 
1.19%
1.14%
1.13%
2.79%
2.49%
 
Debt Held by the Public as Percentage of GDP
 
35.12%
33.00%
34.08%
36.10%
36.50%
 
Total Debt as Percentage of GDP
58.50%
57.53%
59.83%
62.47%
63.81%
           
 


1
Social Insurance Taxes consist mainly of payroll taxes, which are primarily taxes for Social Security (called Old-Age, Survivors, and Disability Insurance, or OASDI) and Medicare's Hospital Insurance (HI). A small share of social insurance tax revenues comes from unemployment insurance taxes and contributions to other federal retirement programs.

2Nearly all excise taxes fall into 5 major categories:  highway, airport, telephone, alcohol, and tobacco taxes.  Almost half of all excise receipts are earmarked by law to The Highway Trust Fund and they come primarily from taxes on gasoline and diesel fuel.

3Income support includes unemployment compensation, supplemental security income, earned income and child tax credits, food stamps, family support, child nutrition, and foster care.

4Net interest includes interest paid on Treasury securities and other interest that the government pays (for example, on late refunds issued by the Internal Revenue Service) minus interest that the government collects from various sources (such as commercial banks, where Treasury tax and loan accounts are maintained.) Net interest is determined by the size and composition of the government's debt, annual budget deficits or surpluses, and market interest rates.

5Offsetting receipts include Medicare premiums and employers' share of employee retirement, as well as federal pension programs, receipts from auctions and leasing, usert fees, etc.  However, the largest amounts are from Medicare premiums and employers' share of employee retirement.

6The standardized budget excludes deposit insurance, receipts from auctions of licenses to use the electromagnetic spectrum and timing adjustments.

7These numbers do not agree with those published by the U.S. Bureau of Public Debt.  This is because the Bureau of Public Debt reports the face value of all debt outstanding.  However, some of the bonds sold have interest rates that are indexed to inflation.  Therefore, the Congressional Budget Office adjusts the public debt annually to reflect the current market value.

8These numbers only are from the U.S. Bureau of Public Debt as they are not published by the Congressional Budget Office.

9These numbers do not agree with those published by the U.S. Bureau of Economic Analysis.  I could find no one who could explain the difference.

Source: Congressional Budget Office

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