Economic Report of the President 1994 - The American Presidency ...

More documents

Recommendations

Info

TABLE B-23.—Relation of gross domestic product, gross national product, net national product, andnationaI income, 1959-93[Billions of dollars; quarterly data at seasonally adjusted annual rates]Year orquarterGrossdomesticproductPIUS:Receiptsof factorincomefrom restof theworld '19591960196119621963196419651966156719681969 .197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993 p1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: IV1989: IV1990:1IIIllIV1991:1IIIllIV1992:1IIIllIV1993:1IIIllIV..494.2513.3531.8571.6603.1648 0702.7769.8814.3889.3959 51,010.71,097.21,207.01,349.61,458.61,585.91,768.41,974.12,232.72 488 62,708.03,030.63,149.63,405.03,777.24,038.74,268.64,539.94,900.45 250 85,546.15,722.96,038.56 374 03,195.13,547.33,869.14,140.54,336.64,683.05,044.65,344.85,461.95,540.95,583.85,597.95,631.75,697.75,758.65,803.75,908.75,991.46,059.56,194.46,261.66,327.66,395.96,510.84.35.05.46.16.6748.18.38.910.311913.014.116.423.830.328.232.837.747.169 780.694.197.395.8108.197.396.0105.1128.7157 5168.6146.1129.291.9102.1106.698.192.8114.4139.9159.3164.0165.4165.2179.7162.4147.2139.1135.7134.4132.9127.3122.3122.8131.9135.1Less:Paymentsof factorincome torest oftheworld 2 1.5Equals:GrossnationalproductLess:ConsumptionoffixedcapitalEquals:NetnationalproductIndirectbusinesstax andnontaxliabilityLess:BusinesstransferpaymentsStatisticaldiscrepancyPIUS:SubsidieslesscurrentsurplusofgovernmententerprisesEquals:Nationalincome1.81.81.82.1242.73.13.44.1586.66.47.711.114.614.915.717.225.337 546.560.967.166.583.882.486.9100.5120.8141 5146.9131.9121.964.471.085.582.488.9106.9130 2139.1143.8147.0149.0147.7138.0134.3131.5123.9115.6127.9119.5124.8122.4132.3128.7497 0516.6535.4575.8607.7653 0708.1774.9819.8895.5965 61,017.11,104.91,215.71,362.31,474.31,599.11,785.51,994.62,254.52 520 82,742.13,063.83,179.83,434.43,801.54,053.64,277.74,544.54,908.25 266 85,567.85,737.16,045.83,222.63,578.43,890.24,156.24,340.54,690.55,054 35,365.05,482.15,559.35,599.95,630.05,656.15,710.65,766.25,815.55,927.65,996.36,067.36,191.96,262.16,327.16,402.344 646.347.749.351.353 957.362.167.473.981588.897.6109.9120.4140.2165.2182.8205.2234.8272 4311.9362.4399.1418.4433.2454.5478.6502.2534.0580 4602.7626.1657.96712412.5439.7448.0465.6488.2512.1547 2600.8590.2597.9607.8614.8619.9622.3626.7635.4631.7637.2714.6648.0663.2663.3679.7678.7452.5470.2487.7526.5556.4599 2650.7712.8752.4821.5884 2928.31,007.31,105.71,241.91,334.11,433.91,602.71,789.42,019.82 248 42,430.22,701.42,780.83,016.03,368.33,599.13,799.24,042.44,374.24 686 44,965.15,111.05,387.92,810.13,138.73,442.23,690.73,852.34,178.54,507.24,764.24,891.94,961.44,992.25,015.15,036.25,088.35,139.65,180.05,295.95,359.15,352.85,543.95,598.85,663.95,722.641945.548.151.754.758 862.765.470.479.086 694.3103.6111.4121.0129.3140.0151.6165.5177.8188 7212.0249.3256.4280.1309.5329.9345.5365.0385.3414 7444.0476.6502.8530 5262.3291.7317.7335.1351.6372.3394.2424.4436.2437.2448.0454.8465.6470.5481.3488.9493.4497.3504.8515.7515.6526.2532.4547.91.41.41.51.61.8202.22.32.52.8313.23.43.94.55.05.26.57.38.29911.213.415.416.619.021.024.224.025.626 626.826.327.628 016.018.120.222.224.924.227.226.226.327.027.126.726.126.326.026.627.027.627.828.127.027.828.428.8-1.8-3.1-2.2-1.0-2.07-.72.8.8-.126.03.11.1-.51.46.010.410.97.613 813.610.9-7.410.2-9.0-13.91.2-24.8-28.4117.89.623.6-10.113.8-20.5-5.9-2.0-24.9-25.412.813.1-1.814.94.9.24.527.36.223.123.615.732.134.412.013.3-0.9-.8.2.3-.31.31.41.21.2152.62.43.42.6.42.61.43.33.6294.84.76.211.79.56.49.714.110.9544.57.7729.619.29.72.68.222.016.54.49.93.0-5.610.41.8.8-8.04.33.03.9-3.77.717.16.1-5.310.7410.1425.7440.5474.5501.55391586.9643.7679.9741.0798.6833,5899.5992.91,119.51,198.81,285.31,435.51,609.11,829.82,038 92,198.22,432.52,522.52,720.83,058.33,268.43,437.93,692.34,002.64 249 54,491.04,598.34,836.62,551.52,834.33,134.43,341.93,486.03,828.84,127.64,305.24,426.24,502.04,496.64,539.24,546.04,587.84,596.94,662.64,755.44,814.64,800.84,975.85,038.95,104.05,143.21 Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign affiliates of U.S.corporations.2 Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S. affiliates of foreigncorporations.Source: Department of Commerce, Bureau of Economic Analysis.294
TABLE B-24.—Relation of national income and personal income, 1959-93[Billions of dollars; quarterly data at seasonally adjusted annual rates]Year or quarter195919601961196219631964196519661967!19681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993"1982 IV1983 IV1984 IV1985 IV1986 IV1987 IV1988 IV1989 IV1990 1 IIIIIIV1991 1 IIIIIIV1992 1 IIIIIIV1993 1 IIIIIIV PNationalincome410.1425.7440.5474.5501.5539.1586.9643.7679.9741.0798.6833.5899.5992.91,119.51,198.81,285.31,435.51,609.11,829.82,038.92,198.22,432.52,522.52,720.83,058.33,268.43,437.93,692.34,002.64,249.54,491.04,598.34,836.62,551.52,834.33,134.43,341.93,486.03,828.84,127.64,305.24,426.24,502.04,496.64,539.24,546.04,587.84,596.94,662.64,755.44,814.64,800.84,975.85,038.95,104.05,143.2Less:Corporateprofitswithinventoryvaluationandcapitalconsumptionadjustments52.350.751.659.665.172.182.988.686.092.689.677.590.3103.2116.4104.5121.9147.1175.7199.7202.5177.7182.0151.5212.7264.2280.8271.6319.8365.0362.8380.6369.5407.2150.3229.1261.3284.9264.6343.3378.3354.5382.6409.3367.5362.8369.3370.8359.0378.8409.9411.7367.5439.5432.1458.1468.5Netinterest10.211.213.114.616.118.221.124.328.130.433.640.045.449.356.571.880.085.1100.7120.5149.9191.2233.4262.4270.0307.9326.2350.2360.4387.7452.7463.7462.8442.0256.8281.8321.1331.9349.7368.6408.1459.8460.5459.5460.6474.4468.8466.3464.2451.9439.5440.8440.1447.7450.1443.2444.6Contributionsforsocialinsurance18.821.922.925.428.530.131.640.645.550.457.962.268.979.097.6110.5118.5134.5149.8171.8197.8216.6251.3269.6290.2325.0353.8379.8400.7442.3473.2503.1528.4555.6585.3272.8298.3332.2362.3388.7409.6453.5480.4495.9500.7506.4509.5520.7525.7531.5535.7548.5552.7556.6564.6568.9585.9590.5596.0Wageaccrualslessdisbursements0.0.0.0.0.0.0.0.0.0.0.0.0.6.0-.1-.5.1.1.1.3-.2.0,1.0- 4.2-.2 .0.0.0.0.1-.1-20.020.0.0.0.6.0.0-.2 .0.0.0.0.0.2.2-.4 .0.0.0.0.0-80.080.0.0.0.0Personalinterestincome22.725.026.929.332.436.140.344.949.554.660.869.275.781.894.1112.4123.0134.6155.7184.5223.2274.0336.1376.8397.5461.9498.1531.7548.1583.2668.2698.2715.6694.3695.8373.6418.7485.4507.5532.6562.3608.9681.2686.9692.8702.8710.3715.4720.0717.3709.6694.4696.0692.2694.5695.4693.1695.7699.2Personaldividendincome12.713.414.015.016.118.020.220.922.124.525.123.523.525.527.729.629.234.739.444.250.457.166.967.177.878.887.9104.7100.4108.4126.5144.4127.9140.4158.369.480.679.392.7105.6100.1113.8132.9141.2145.6146.6144.4136.6126.7123.9124.3128.2136.0144.9152.3157.0157.8159.0159.4>IUS:Governmenttransferpaymentstopersons25.727.531.532.634.536.039.143.652.360.667.581.897.0108.4124.1147.4185.7202.8217.5234.8262.8312.6355.7396.3426.1437.8468.1497.1521.3555.9603.8666.3749.2836.8889.7419.9428.0442.3474.8505.8528.1563.5624.0649.0656.1669.2690.9724.2740.9754.8776.8816.6830.9844.3855.4873.0883.7896.4905.6Businesstransferpaymentstopersons1.31.31.41.51.71.82.02.12.32.52.82.83.03.43.84.04.55.55.96.87.98.810.211.812.815.117.820.720.820.821.121.320.721.621.912.313.216.218.820.920.421.320.821.321.521.321.120.820.520.620.821.121.521.822.021.421.822.122.3Equals:Personalincome391.2409.2426.5453.4476.4510.7552.9601.7646.5709.9773.7831.0893.5980.51,098.71,205.71,307.31,446.31,601.31,807.92,033.12,265.42,534.72,690.92,862.53,154.63,379.83,590.43,802.04,075.94,380.34,673.84,850.95,144.95,387.62,746.82,965.33,242.53,456.73,647.83,918.54,195.24,469.44,585.64,648.64,701.94,759.14,783.94,833.44,858.84,927.55,017.85,093.85,139.85,328.35,254.75,373.25,412.75,509.8Source: Department of Commerce, Bureau of Economic Analysis.295
Page 1:
S : Sf:' ;: W^W't-^WW': ;, S 4 Si :
Page 5:
unitedminds
Page 9 and 10:
Economic Report of the PresidentTo
Page 11:
the Technology Reinvestment Project
Page 14:
formed health care system, increase
Page 19 and 20:
CONTENTSPageCHAPTER 1. A STRATEGY F
Page 21:
PageProviding Comprehensive Benefit
Page 24 and 25:
LIST OF CHARTS—CONTINUEDPage3-5 L
Page 27 and 28:
CHAPTER 1A Strategy for Growth and
Page 29 and 30:
which have left consumers and busin
Page 31 and 32:
that growth in both real compensati
Page 33 and 34:
for inflation was on average roughl
Page 35 and 36:
Box 1-2.—Saving, Investment, and
Page 37 and 38:
investments in human capital; inves
Page 39 and 40:
of the income distribution (Table 1
Page 41 and 42:
Box 1-3.—Credible Deficit Reducti
Page 43 and 44:
Chart 1-7 Correlation of Investment
Page 45 and 46:
Box 1~4*~-A Balanced Budget Amendme
Page 47 and 48:
This educational record is not good
Page 49 and 50:
fallen markedly since the 1960s (Ch
Page 51 and 52:
The development and deployment of n
Page 53 and 54:
Earlier rounds of GATT talks had fo
Page 55 and 56:
Chart 1-10 Projected Real Growth Ra
Page 57 and 58:
are therefore on the public dole. M
Page 59:
prise communities and be granted sm
Page 62 and 63:
ingredient that should allow the ec
Page 64 and 65:
Chart 2-2 National Defense Purchase
Page 66 and 67:
Chart 2-3 Growth of U.S. Merchandis
Page 68 and 69:
Chart 2-5 Households: Credit Market
Page 70 and 71:
THE HEADWINDS ARE MOSTLY CALMINGAs
Page 72 and 73:
1993, real consumer spending increa
Page 74 and 75:
RESIDENTIAL INVESTMENTResidential i
Page 76 and 77:
smallest annual increase in 20 year
Page 78 and 79:
ments with the Internal Revenue Ser
Page 80 and 81:
safe-harbor rules for underpayment
Page 82 and 83:
Chart 2-9 Alternative Measures of t
Page 84 and 85:
Meanwhile, the Mountain States were
Page 86 and 87:
inflation is measured by the Blue C
Page 88 and 89:
Saving, Investment, and Capital Acc
Page 90 and 91:
the future should be reflected in l
Page 92 and 93:
Chart 2-15 Dynamic Effects of Defic
Page 94 and 95:
joyed healthy average real GDP grow
Page 96 and 97:
Chart 2-16 Personal Income Taxes as
Page 98 and 99:
TABLE 2-2.— Administration Foreca
Page 100 and 101:
TABLE 2-3.— Accounting for Growth
Page 103 and 104:
CHAPTER 3Trends and Recent Developm
Page 105 and 106:
first quarter of 1991, nonfarm payr
Page 107 and 108:
cause defense cutbacks have caused
Page 109 and 110:
UNEMPLOYMENT AND NONEMPLOYMENTThe U
Page 111 and 112:
Chart 3-3 Civilian Unemployment Rat
Page 113 and 114:
Chart 3-6 Employment-to-Population
Page 115 and 116:
Chart 3-8 Ratio of White-Collar to
Page 117 and 118:
than would be expected given its hi
Page 119 and 120:
that the natural rate is falling? M
Page 121 and 122:
SLOW INCOME GROWTHIncome trends hav
Page 123 and 124:
Chart 3-10 Average Annual Growth of
Page 125 and 126:
Box 3-3.—Consequences of Producti
Page 127 and 128:
likely that immigration could expla
Page 129 and 130:
We do, however, know how many worke
Page 131 and 132:
size. No data are available on vola
Page 133 and 134:
BENEFITSOne of the concerns raised
Page 135 and 136:
edented partnership to develop a nu
Page 137 and 138:
CHAPTER 4Health Care ReformTHE UNIT
Page 139 and 140:
make cost-conscious decisions. In a
Page 141 and 142:
A third rationale for universal cov
Page 143 and 144:
Box 4-1.—Moral Hazard and Adverse
Page 145 and 146:
ies depending on one's health statu
Page 147 and 148:
than people in other countries do,
Page 149 and 150:
sumers are ill equipped to bring st
Page 151 and 152:
By itself, the aging of the populat
Page 153 and 154:
TABLE 4-3.- Sources and Uses of Hea
Page 155 and 156:
about 65 to 70 cents for a typical
Page 157 and 158:
THE ARCHITECTURE OF THE HEALTHSECUR
Page 159 and 160:
etary savings for the Federal Gover
Page 161 and 162:
contribution, within limits. Outsid
Page 163 and 164:
salary income, payments from the em
Page 165 and 166:
TABLE 4-6.—Caps on Premiums by Fi
Page 167 and 168:
An example will illustrate the proc
Page 169 and 170:
TABLE 4-9.—Sources and Uses of Fe
Page 171 and 172:
Chart 4-9 Business Spending on Heal
Page 173:
Health care reform should set the s
Page 176 and 177:
and private sectors, addressing env
Page 178 and 179:
Box 5-1.—Selected National Perfor
Page 180 and 181:
Box 5-2*—Market PowerFirms are sa
Page 182 and 183:
ate regulation. For example, State
Page 184 and 185:
competitiveness of U.S. industry, a
Page 186 and 187:
Box 5-4.—ExternalitiesAn external
Page 188 and 189:
in the habitat of the spotted owl r
Page 190 and 191:
CLIMATE CHANGE ACTION PLANCertain g
Page 192 and 193:
eral, lays a foundation for broader
Page 194 and 195:
The Administration's proposal seeks
Page 196 and 197:
vances in technical know-how have a
Page 198 and 199:
Investments in R&D are risky. Like
Page 200 and 201:
1950s and 1960s, and American compa
Page 202 and 203:
ico and Lawrence Livermore in Calif
Page 204 and 205:
of industry. MOCs will be affiliate
Page 206 and 207:
tiveness. Again, the hoped-for resu
Page 208 and 209:
forts to cut the massive Federal bu
Page 210 and 211:
TECHNOLOGY POLICY, GROWTH, ANDCOMPE
Page 212 and 213:
mitment to an open international tr
Page 214 and 215:
ses, which take such intersectoral
Page 216 and 217:
An important sectoral development i
Page 218 and 219:
TABLE 6-3.—Stock of U.S. Outward
Page 220 and 221:
technical change has been offered a
Page 222 and 223:
ent account is a broader measure of
Page 224 and 225:
TABLE 6-6.—Intrafirm Trade as Sha
Page 226 and 227:
greater access to the Japanese mark
Page 228 and 229:
the transparency of its trade regim
Page 230 and 231:
that if the states of the former So
Page 232 and 233:
Box 6-3.—Mexican Economic Reforms
Page 234 and 235:
1998, while nontariff barriers on a
Page 236 and 237:
ward convergence in environmental a
Page 238 and 239:
Box 6-4.—The Asian "Miracle"Per c
Page 240 and 241:
Box 6-5.—The Economic Impact of t
Page 242 and 243:
development, and environmental clea
Page 244 and 245:
THE TRADE POLICY AGENDABy lowering
Page 246 and 247:
ignated monopolies. It also establi
Page 248 and 249:
The dollar ended 1993 roughly where
Page 250 and 251: Box 6-7.—Exchange-Rate Volatility
Page 252 and 253: Chart 6-5 French Franc-Deutsche Mar
Page 254 and 255: Besides bringing these endeavors to
Page 257 and 258: LETTER OF TRANSMITTALCOUNCIL OF ECO
Page 259 and 260: Report to the President on the Acti
Page 261 and 262: duction budget package, the North A
Page 263 and 264: Working Group studying cost-benefit
Page 265 and 266: prepares the Economic Indicators an
Page 267: Appendix BSTATISTICAL TABLES RELATI
Page 270 and 271: POPULATION, EMPLOYMENT, WAGES, AND
Page 272 and 273: AGRICULTURE:PageB-96. Farm income,
Page 274 and 275: NATIONAL INCOME OR EXPENDITURETABLE
Page 276 and 277: TABLE B-2.—Gross domestic product
Page 278 and 279: TABLE B-3.—Implicit price deflato
Page 280 and 281: TABLE B-4.—Fixed-weighted price i
Page 282 and 283: TABLE B-5.—Changes in gross domes
Page 284 and 285: TABLE B-7.—Cross domestic product
Page 286 and 287: TABLE B-9.—Gross domestic product
Page 288 and 289: TABLE B-ll.—Gross domestic produc
Page 290 and 291: TABLE B-13.—Gross domestic produc
Page 292 and 293: TABLE B-15.—Personal consumption
Page 294 and 295: TABLE B-17.—Gross and net private
Page 296 and 297: TABLE B-19.—Inventories and final
Page 298 and 299: TABLE B-21.—Foreign transactions
Page 302 and 303: TABLE B-25.—National income by ty
Page 304 and 305: TABLE B-26.—Sources of personal i
Page 306 and 307: TABLE B-27.—Disposition of person
Page 308 and 309: TABLE B-29.—Gross sating and inve
Page 310 and 311: TABLE B-31.—Median money income (
Page 312 and 313: TABLE B-33.—Population and the la
Page 314 and 315: TABLE B-34.—Civilian employment a
Page 316 and 317: TABLE B-36.—Unemployment by demog
Page 318 and 319: TABLE B-38.—Civilian labor force
Page 320 and 321: TABLE B-40.—Civilian unemployment
Page 322 and 323: TABLE B-42.—Unemployment by durat
Page 324 and 325: TABLE B-44.—Employees on nonagric
Page 326 and 327: TABLE B-45.—Hours and earnings in
Page 328 and 329: TABLE B-47.—Productivity and rela
Page 330 and 331: PRODUCTION AND BUSINESS ACTIVITYTAB
Page 332 and 333: TABLE B-51.—Industrial production
Page 334 and 335: TABLE B-53.—New construction acti
Page 336 and 337: TABLE B-54.—New housing units sta
Page 338 and 339: Year or monthTABLE B-56.—Manufact
Page 340 and 341: TABLE B-58.—Manufacturers' new an
Page 342 and 343: TABLE B-60.—Consumer price indexe
Page 344 and 345: TABLE B-61.—Consumer price indexe
Page 346 and 347: TABLE B-63.—Changes in consumer p
Page 348 and 349: TABLE B-64.—Producer price indexe
Page 350 and 351:
TABLE B-66.—Producer price indexe
Page 352 and 353:
TABLE B-67.—Changes in producer p
Page 354 and 355:
TABLE B-69.—Components of money s
Page 356 and 357:
TABLE B-70.—Aggregate reserves of
Page 358 and 359:
TABLE B-72.—Bond yields and inter
Page 360 and 361:
TABLE B-73.—Total funds raised in
Page 362 and 363:
TABLE B-74.—Mortgage debt outstan
Page 364 and 365:
TABLE B-76.—Consumer credit outst
Page 366 and 367:
TABLE B-78.—Federal receipts, out
Page 368 and 369:
TABLE B-79.—Federal budget receip
Page 370 and 371:
TABLE B-81.—Federal and State and
Page 372 and 373:
TABLE B-83.—State and local gover
Page 374 and 375:
TABLE B-85.—Interest-bearing publ
Page 376 and 377:
TABLE B-87.—Estimated ownership o
Page 378 and 379:
TABLE B-89.—Corporate profits by
Page 380 and 381:
TABLE B-91.—Sales, profits, and s
Page 382 and 383:
TABLE B-93.—Sources and uses of f
Page 384 and 385:
TABLE B-95.—Business formation an
Page 386 and 387:
19481949195019511952195319541955195
Page 388 and 389:
TABLE B-99.—Indexes of prices rec
Page 390 and 391:
TABLE B-101.— Farm business balan
Page 392 and 393:
TABLE B-103.—U.S. international t
Page 394 and 395:
TABLE B-104.—U.S. merchandise exp
Page 396 and 397:
TABLE B-106.—U.S. merchandise exp
Page 398 and 399:
TABLE B-108.—Industrial productio
Page 400 and 401:
TABLE B-110.—Foreign exchange rat
Page 402 and 403:
NATIONAL WEALTHTABLE B-l 12.—Nati
Page 404:
SUPPLEMENTARY TABLETABLE B-114.—S
show all

Economic Report of the President 1994 - The American Presidency ...

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?