Economic Report of the President

TABLE B-70.—Federal budget receipts, outlays, and debt, fiscal years 1971-82—Continued[Millions of dollars; fiscal years]BUDGET RECEIPTS AND OUTLAYS;DescriptionActual1977 1978 1979 1980Estimate1981 1982Total receiptsFederal fundsTrust fundsInterfund transactions.Total outlays..Federal fundsTrust fundsInterfund transactionsTotal surplus or deficit (-)..Federal funds...Trust fundsOUTSTANDING DEBT, END OF PERIOD:Gross Federal debtHeld by Government agenciesHeld by the publicFederal Reserve System.,Other '357,762241,312152,763-36,313402,710295,756143,267-36,313-44,948-54,4449,496709,138157,295551,843105,004446,839401,997270,484168,012-36,498450,804331,985155,318-36,498-48,807-61,80412,694780,425169,477610,948115,480495,468465,940316,351189,641-40,052493,635362,381171,305-40,052-27,694-46,03018,335833,751189,162644,589115,594528,996520,050350,849213,875-44,674579,613419,214205,074-44,674-59,563-68,3648,801914,317199,212715,105120,846594,259607,525415,239242,545-50,259662,740474,932238,068-50,259-55,215-59,6934,477992,398205,293787,105711,780484,105286,113-58,437739,296530,817266,916-58,437-27,516-46,71219,1961,057,664225,559832,105BUDGET RECEIPTS....357,762401,997465,940520,050607,525711,780Individual income taxesCorporation income taxesSocial insurance taxes and contributionsExcise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts:Deposits of earnings by Federal Reserve System..Another ..157,62654,892108,68817,5487,3275,1505,908622180,98859,952123,41018,3765,2856,5736,641772217,84165,677141,59118,7455,4117,4398,327910244,06964,600160,74724,3296,389747411,767975284,01366,009184,82444,3936,909.J.43913,069899331,67764,648214,66469,6337,6687,80014,710BUDGET OUTLAYS...402,710450,804493,635579,613662,740739,296National defenseInternational affairsGeneral science, space, and technologyEnergyNatural resources and environmentAgricultureCommerce and housing creditTransportationCommunity and regional developmentEducation, training, employment, and social services..HealthIncome securityVeterans benefits and servicesAdministration of justiceGeneral governmentGeneral purpose fiscal assistanceInterestAllowances \Undistributed offsetting receipts97,5014,8134,6774,17210,0005,5329814,6366,34820,98538,785137,90018,0383,6003,1699,49938,009-15,053105,1865,9224,7425,86110,9257,7313,32415,44511,07026,46343,676146,18118,9743,8023,7069,60143,966-15,772117,6816,0915,0416,85612,0916,2382,56517,4599,54229,68549,614160,15919,9284,1534,0938,37252,556-18,488135,85610,7335,7226,31313,8124,7627,78221,12010,06830,76758,165193,10021,1834,5704,5058,58464,504-21,933161,08811,3146,2588,73914,1101,1123,45624,05411,14431,77366,032231,65022,5914,7865,1706,85480,405-27,796184,39912,1527,59011,97314,0394,8038,05821,5519,08434,51174,636255,00624,4624,8825,2466,90289,9461,920-31,863Composition of undistributed offsetting receipts:Employer share, employee retirementInterest received by trust fundsRents and royalties on the Outer Continental Shelf..-4,548-8,131-2,374-4,983-8,530-2,259-5,271-9,950-3,267-5,787-12,045-4,101-6,561-13,435-7,800-6,798-15,165-9,900Note.—Under provisions of the Congressional Budget Act of 1974, the fiscal year for the Federal Government shifted beginning with fiscalyear 1977. 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 period July 1,1976 through September 30,1976 is a separate fiscal period known as thetransition quarter.Refunds of receipts are excluded from receipts and outlays.See "Budget of the United States Government, Fiscal Year 1982" for additional information.Sources: Department of the Treasury and Office of Management and Budget.315