ECONOMIC

TABLE B-68.—Federal budget receipts, outlays, and debt, fiscal years 1968-78—Continued[Millions of dollars; fiscal years)DescriptionActualEstimate1974 1975 1976ransitionquarter1977 1978BUDGET RECEIPTS AND OUTLAYS:Total receipts264,932280,997300, 00581, 773354,045393,017Federal fundsTrust fundsInterfund transactions.181,219104,846-21,133187, 505118,590-25, 098201, 099133, 695-34, 78954, 08532,071-4, 383237, 405153, 558-36, 918258,926170, 515-36, 425Total outlays269,620326,105366, 46694, 746411,243439, 967Federal fundsTrust fundsInterfund transactions.199,92090,833-21,133240, 031111,171-25,098269, 969131,286-34, 78965,10634, 023-4, 383303,136145, 026-36,918319, 335157, 057-36, 425Total surplus or deficit (—).-4,688-45,108-66, 461-12, 973-57,198-46, 950Federal funds.Trust funds...OUTSTANDING DEBT, END OF YEAR:-18,70114,013-52, 5267,419-68, 8702,410-11,021-1,952-65, 7308,532-60, 40913, 459Gross Federal debt486,247544,131631,866646, 379716,725784, 973Held by Government agencies.Held by the public140,194346,053147, 225396,906151, 566480,300148,052498,327156, 398560,327169,146615,827Federal Reserve System.Others...80,649265,40484,993311,91394,714385, 58696, 702401,625BUDGET RECEIPTS.264,932280,997300, 00581, 773354, 045393, 017Individual income taxesCorporation income taxes.._Social insurance taxes and contributions..Excise taxesEstate and gift taxesCustoms duties..Miscellaneous receipts:Deposit of earnings by Federal ReserveSystem.Allother118,95238,62076,78016,8445,0353,3344,845524122,38640, 62186, 44116, 5514,6113,6765,777934131, 60341, 40992, 71416,9635,2164,0745,4512,57538, 8018,46025, 7604,4731,4551,2121,500112153, 09756, 604108, 88317, 9265,9074,7136,000915171,21758,910126, 06818, 5135,8065,2626,400841BUDGET OUTLAYS.269,620326,105366,46694, 746411,243439,967National defenseInternational affairsGeneral science, space, and technologyNatural resources, environment, and energy.Agriculture.Commerce and transportation_.Community and regional developmentEducation, training, employment, andsocial servicesHealthIncome security_Veterans benef ts and services_.Law enforcement and justiceGeneral government•Revenue sharing and general purpose fiscalassistanceInterestAllowancesUndistributed offsetting receipts78,5694,8213,9776,5712,23013,0£64,91111,55822,07484,43113,3862,4623,3276,74628,072-16,65186, 5855,8623,9899,5371,66016,0104,43115,24827,647108, 60516, 5972,9423,0897,00530,974-14,07589, 9965,0674,37011,2822,50217, 2485,30018,16733, 448127, 4C618, 4323,3202,9277,11934, 589-14, 70422, 5181,9971,1613,3245844,7001,5305,0138,72032, 7963,9628598782,0247,246-2, 567100,0757,1504,43417,0502,89916,1C67,69521,11439, 251138,11818, 3883,7123,7318,92637,987-15, 393112,2627,2814,72519, 7472,33319, 2527,86819, 35843, 205143, 89218, 2793,7893,9308,08939, 7352,651-16,429Composition of undistributed offsettingreceipts:Employer share, employee retirement.Interest received by trust fundsRents and royalties on the Outer ContinentalShelf.-3,319-6,583-6,748-3,980-7,667-4, 242-7,800-2,428 j -2,662-985-270-1,311-4, 592-8,201-2, 600-4,670-8,659-3,100Note.—Under provisions of the Congressional Budget Act of 1974, the fiscal year for the Federal Governmentshifted beginning with fiscal year 1977. Through fiscal year 1976, the fiscal year runs from July 1 throughJune 30; starting in October 1976 (fiscal year 1977), the fiscal year runs from October 1 through September 30.The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscal period known as thetransition quarter.Sources: Department of the Treasury and Office of Management and Budget.267