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

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TABLE B-78.—Federal receipts, outlays, and debt, fiscal years 1982-95[Millions of dollars; fiscal years]DescriptionActual1982 1983 1984 1985 1986 1987 1988RECEIPTS AND OUTLAYS:Total receiptsTotal outlaysTotal surplus or deficit (-)...On-budget receiptsOn-budget outlaysOn-budget surplus or deficit (-)Off-budget receiptsOff-budget outlaysOff-budget surplus or deficit (-)OUTSTANDING DEBT, END OF PERIOD:Gross Federal debtHeld by Government accountsHeld by the publicFederal Reserve SystemOtherRECEIPTS: ON-BUDGET AND OFF-BUDGETIndividual income taxesCorporation income taxesSocial insurance taxes and contributions....On-budget....Off-budget...Excise taxesEstate and gift taxesCustoms duties and feesMiscellaneous receipts:Deposits of earnings by FederalReserve SystemAll otherOUTLAYS: ON-PUDGET AND OFF-BUDGETNational defenseInternational affairsGeneral science, space, and technologyEnergyNatural resources and environmentAgricultureCommerce and housing creditOn-budgetOff-budget....TransportationCommunity and regional developmentEducation, training, employment, andsocial servicesHealthMedicareIncome securitySocial securityOn-budgetOff-budgetVeterans benefits and services-Administration of justiceGeneral governmentNet interestOn-budgetOff-budgetAllowancesUndistributed offsetting receiptsOn-budgetOff-budget617,766745,755-127,989474,299594,351-120,052143,467151,404-7,9371,136,798217,560919,238134,497784,741617,766297,74449,207201,49858,031143,46736,3117,9918,85415,186975745,755185,30912,3007,20013,52712,99815,9446,2566,25620,6258,34727,02927,44546,567107,717155,964844155,12023,9584,71210,91485,04487,114-2,071-26,099-24,453-1,646600,562808,380-207,818453,242661,272-208,030147,320147,1082121,371,164240,1141,131,049155,527975,522600,562288,93837,022208,99461,674147,32035,3006,0538,65514,4921,108808,380209,90311,8487,9359,35312,67222,9016,6816,68121,3347,56026,60628,64152,588122,598170,72419,993150,73124,8465,10511,23589,82891,673-1,845-33,976-32,198-1,778666,457851,846-185,388500,382686,032-185,650166,075165,8132621,564,110264,1591,299,951155,1221,144,829666,457298,41556,893239,37673,301166,07537,3616,01011,37015,6841,347851,846227,41315,8768,3177,08612,59313,6136,9176,91723,6697,67327,57930,41757,540112,668178,2237,056171,16725,6145,66311,817111,123114,432-3,310-31,957-29,913-2,044734,057946,391-212,334547,886769,584-221,698186,171176,8079,3631,816,974317,6121,499,362169,8061,329,556734,057334,53161,331265,16378,992186,17135,9926,42212,07917,0591,480946,391252,74816,1768,6275,68513,35725,5654,2294,22925,8387,68029,34233,54265,822128,200188,6235,189183,43426,2926,27011,588129,504133,622-4,118-32,698-30,189-2,509769,091990,336-221,245568,862806,838-237,976200,228183,49816,7312,120,082383,9191,736,163190,8551,545,308769,091348,95963,143283,90183,673200,22832,9196,95813,32718,3741,510990,336273,37514,152.8,9764,73513,63931,4494,8904,89028,1177,23330,58535,93670,164119,796198,7578,072190,68426,3566,57212,564136,047140,377-4,329-33,007-30,150-2,857854,1431,003,911-149,769640,741810,079-169,339213,402193,83219,5702,345,578457,4441,888,134212,0401,676,094854,143392,55783,926303,31889,916213,40232,4577,49315,08516,8172,4901,003,911281,99911,6499,2164,11513,36326,6066,1826,18226,2225,05129,72439,96775,120123,250207,3534,930202,42226,7827,5537,565138,652143,942-5,290-36,455-33,155-3,300908,9541,064,140-155,187667,463861,449-193,986241,491202,69138,8002,600,760550,5072,050,252229,2181,821,034908,954401,18194,508334,33592,845241,49135,2277,59416,19817,1632,7471,064,140290,36110,47110,8412,29714,60617,21018,81518,81527,2725,29431,93844,48778,878129,332219,3414,852214,48929,4289,2369,464151,838159,253-7,416-36,967-32,585-4,382Note.—Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscalyear is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscalperiod known as the transition quarter.Refunds of receipts are excluded from receipts and outlays.See next page for continuation of table.360
TABLE B-78.—Federal receipts, outlays, and debt, fiscal years 1982-95—Continued[Millions of dollars; fiscal years]DescriptionActual1989 1990 1991 1992 1993Estimates1994 1995RECEIPTS AND OUTLAYS:Total receiptsTotal outlaysTotal surplus or deficit (-)..On-budget receiptsOn-budget outlaysOn-budget surplus or deficit (-)....Off-budget receipts..Off-budget outlays....Off-budget surplus or deficit (-) ..OUTSTANDING DEBT, END OF PERIOD:Gross Federal debtHeld by Government accounts..Held by the publicFederal Reserve SystemOtherRECEIPTS. ON-BUDGET AND OFF-BUDGET..Individual income taxesCorporation income taxesSocial insurance taxes and contributions..On-budgetOff-budgetExcise taxesEstate and gift taxesCustoms duties and feesMiscellaneous receipts:Deposits of earnings by FederalReserve SystemAll otherOUTLAYS: ON-BUDGET AND OFF-BUDGET..National defenseInternational affairsGeneral science, space, and technology..EnergyNatural resources and environmentAgricultureCommerce and housing creditOn-budgetOff-budgetTransportationCommunity and regional developmentEducation, training, employment, and socialservicesHealthMedicareIncome securitySocial securityOn-budgetOff-budgetVeterans benefits and servicesAdministration of justiceGeneral governmentNet interestOn-budgetOff-budgetAllowancesUndistributed offsetting receiptsOn-budgetOff-budget990,6911,143,172-152,481727,026932,261-205,235263,666210,91152,7542,867,493678,1572,189,336220,0881,969,248990,691445,690103,291359,41695,751263,66634,3868,74516,33419,6043,2251,143,172303,5599,57312,8382,70616,18216,91929,21129,520-31027,6085,36236,67448,39084,964136,031232,5425,069227,47330,0669,4749,017169,266180,661-11,395-37,212-32,354-4,858See Budget of the United States Government, Fiscal Year 1995,1,031,3211,252,705-221,384749,6661,027,640-277,974281,656225,06556,5903,206,207795,8412,410,366234,4102,175,9561,031,321466,88493,507380,04798,392281,65635,34511,50016,70724,3193,0111,252,705299,33113,76414,4443,34117,08011,95867,14265,5161,62629,4858,49838,75557,71698,102147,019248,6233,625244,99829,1129,99510,734184,221200,212-15,991-36,615-31,048-5,567Sources: Department of the Treasury and Office of Management and Budget.1,054,2721,323,793-269,521760,3881,082,106-321,719293,885241,68752,1983,598,303910,3622,687,942258,5912,429,3511,054,272467,82798,086396,016102,131293,88542,40211,13815,94919,1583,6961,323,793273,29215,85116,1112,43618,55915,18375,63974,3211,31731,0996,81143,35471,183104,489170,301269,0152,619266,39531,34912,27611,661194,541214,763-20,222-39,356-33,553-5,8041,090,4531,380,856-290,403788,0271,128,518-340,490302,426252,33950,0874,001,9411,003,3022,998,639296,3972,702,2431,090,453475,964100,270413,689111,263302,42645,56911,14317,35922,9203,5381,380,856298,35016,10716,4094,50020,02515,20510,0839,42465933,3336,83845,24889,497119,024196,958287,5856,166281,41834,13814,42612,990199,421223,059-23,637-39,280-33,179-6,101February 1994, for additional information.1,153,5351,408,205-254,670841,6011,141,618-300,017311,934266,58745,3474,351,2231,104,0453,247,178325,6532,921,5261,153,535509,680117,520428,300116,366311,93448,05712,57718,80214,9083,6911,408,205291,08616,82617,0304,31920,23920,443-22,725-24,1661,44135,0049,05150,01299,415130,552207,257304,5856,236298,34935,72014,95513,009198,811225,599-26,788-37,386-30,970-6,4161,249,0711,483,829-234,758912,8921,202,953-290,061336,179280,87655,3034,676,0291,203,6173,472,4121,249,071549,901130,719461,923125,744336,17954,55012,74919,19815,8474,1841,483,829279,82418,96817,2794,98822,28516,868504-1,2451,74837,5829,28250,793112,252143,651214,626320,4605,796314,66338,12916,47914,299203,448232,521-29,073-37,887-31,425-6,4631,353,8151,518,945-165,130998,5941,223,582-224,987355,221295,36459,8574,960,1281,314,0013,646,1271,353,815595,048140,437490,393135,172355,22171,88813,88520,85616,6044,7051,518,945270,72517,79816,9414,56421,81712,795-5,482-8,7413,25938,3689,15453,524123,077156,228221,440337,1686,639330,52939,24717,33113,807212,835244,504-31,669205-42,597-35,841-6,756361
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unitedminds
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Economic Report of the PresidentTo
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the Technology Reinvestment Project
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formed health care system, increase
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CONTENTSPageCHAPTER 1. A STRATEGY F
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PageProviding Comprehensive Benefit
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LIST OF CHARTS—CONTINUEDPage3-5 L
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CHAPTER 1A Strategy for Growth and
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which have left consumers and busin
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that growth in both real compensati
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for inflation was on average roughl
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Box 1-2.—Saving, Investment, and
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investments in human capital; inves
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of the income distribution (Table 1
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Box 1-3.—Credible Deficit Reducti
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Chart 1-7 Correlation of Investment
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Box 1~4*~-A Balanced Budget Amendme
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This educational record is not good
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fallen markedly since the 1960s (Ch
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The development and deployment of n
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Earlier rounds of GATT talks had fo
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Chart 1-10 Projected Real Growth Ra
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are therefore on the public dole. M
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prise communities and be granted sm
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ingredient that should allow the ec
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Chart 2-2 National Defense Purchase
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Chart 2-3 Growth of U.S. Merchandis
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Chart 2-5 Households: Credit Market
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THE HEADWINDS ARE MOSTLY CALMINGAs
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1993, real consumer spending increa
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RESIDENTIAL INVESTMENTResidential i
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smallest annual increase in 20 year
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ments with the Internal Revenue Ser
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safe-harbor rules for underpayment
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Chart 2-9 Alternative Measures of t
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Meanwhile, the Mountain States were
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inflation is measured by the Blue C
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Saving, Investment, and Capital Acc
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the future should be reflected in l
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Chart 2-15 Dynamic Effects of Defic
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joyed healthy average real GDP grow
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Chart 2-16 Personal Income Taxes as
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TABLE 2-2.— Administration Foreca
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TABLE 2-3.— Accounting for Growth
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CHAPTER 3Trends and Recent Developm
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first quarter of 1991, nonfarm payr
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cause defense cutbacks have caused
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UNEMPLOYMENT AND NONEMPLOYMENTThe U
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Chart 3-3 Civilian Unemployment Rat
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Chart 3-6 Employment-to-Population
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Chart 3-8 Ratio of White-Collar to
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than would be expected given its hi
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that the natural rate is falling? M
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SLOW INCOME GROWTHIncome trends hav
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Chart 3-10 Average Annual Growth of
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Box 3-3.—Consequences of Producti
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likely that immigration could expla
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We do, however, know how many worke
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size. No data are available on vola
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BENEFITSOne of the concerns raised
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edented partnership to develop a nu
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CHAPTER 4Health Care ReformTHE UNIT
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make cost-conscious decisions. In a
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A third rationale for universal cov
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Box 4-1.—Moral Hazard and Adverse
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ies depending on one's health statu
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than people in other countries do,
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sumers are ill equipped to bring st
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By itself, the aging of the populat
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TABLE 4-3.- Sources and Uses of Hea
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about 65 to 70 cents for a typical
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THE ARCHITECTURE OF THE HEALTHSECUR
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etary savings for the Federal Gover
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contribution, within limits. Outsid
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salary income, payments from the em
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TABLE 4-6.—Caps on Premiums by Fi
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An example will illustrate the proc
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TABLE 4-9.—Sources and Uses of Fe
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Chart 4-9 Business Spending on Heal
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Health care reform should set the s
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and private sectors, addressing env
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Box 5-1.—Selected National Perfor
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Box 5-2*—Market PowerFirms are sa
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ate regulation. For example, State
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competitiveness of U.S. industry, a
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Box 5-4.—ExternalitiesAn external
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in the habitat of the spotted owl r
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CLIMATE CHANGE ACTION PLANCertain g
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eral, lays a foundation for broader
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The Administration's proposal seeks
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vances in technical know-how have a
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Investments in R&D are risky. Like
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1950s and 1960s, and American compa
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ico and Lawrence Livermore in Calif
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of industry. MOCs will be affiliate
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tiveness. Again, the hoped-for resu
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forts to cut the massive Federal bu
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TECHNOLOGY POLICY, GROWTH, ANDCOMPE
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mitment to an open international tr
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ses, which take such intersectoral
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An important sectoral development i
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TABLE 6-3.—Stock of U.S. Outward
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technical change has been offered a
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ent account is a broader measure of
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TABLE 6-6.—Intrafirm Trade as Sha
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greater access to the Japanese mark
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the transparency of its trade regim
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that if the states of the former So
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Box 6-3.—Mexican Economic Reforms
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1998, while nontariff barriers on a
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ward convergence in environmental a
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Box 6-4.—The Asian "Miracle"Per c
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Box 6-5.—The Economic Impact of t
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development, and environmental clea
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THE TRADE POLICY AGENDABy lowering
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ignated monopolies. It also establi
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The dollar ended 1993 roughly where
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Box 6-7.—Exchange-Rate Volatility
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Chart 6-5 French Franc-Deutsche Mar
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Besides bringing these endeavors to
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LETTER OF TRANSMITTALCOUNCIL OF ECO
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Report to the President on the Acti
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duction budget package, the North A
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Working Group studying cost-benefit
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prepares the Economic Indicators an
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Appendix BSTATISTICAL TABLES RELATI
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POPULATION, EMPLOYMENT, WAGES, AND
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AGRICULTURE:PageB-96. Farm income,
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NATIONAL INCOME OR EXPENDITURETABLE
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TABLE B-2.—Gross domestic product
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TABLE B-3.—Implicit price deflato
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TABLE B-4.—Fixed-weighted price i
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TABLE B-5.—Changes in gross domes
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TABLE B-7.—Cross domestic product
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TABLE B-9.—Gross domestic product
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TABLE B-ll.—Gross domestic produc
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TABLE B-13.—Gross domestic produc
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TABLE B-15.—Personal consumption
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TABLE B-17.—Gross and net private
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TABLE B-19.—Inventories and final
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TABLE B-21.—Foreign transactions
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TABLE B-23.—Relation of gross dom
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TABLE B-25.—National income by ty
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TABLE B-26.—Sources of personal i
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TABLE B-27.—Disposition of person
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TABLE B-29.—Gross sating and inve
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TABLE B-31.—Median money income (
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TABLE B-33.—Population and the la
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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 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
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