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February 16, 1999

F.106.c Consolidated Statement for Federal, State, and Local Governments (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1994

1
2
3
4
5
6

Receipts, NIPA basis
Personal tax and nontax receipts
Corporate profit tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance

1995

1996

1997

1997
Q1

Q2

Q3

Q4

Q1

1998
Q2

Q3

2124.6

2246.1

2411.1

2589.2

2525.6

2564.8

2616.0

2650.2

2703.7

2745.1

2779.7

1

739.1
186.6
568.4
630.5

795.0
211.0
581.2
658.9

890.5
226.1
606.5
688.0

989.0
246.1
627.2
727.0

955.6
238.8
617.2
714.0

975.8
241.9
625.0
722.1

999.0
254.2
632.0
730.8

1025.5
249.3
634.5
740.9

1066.9
239.9
641.9
755.0

1092.9
241.6
647.7
762.9

1108.4
243.2
656.5
771.6

2
3
4
5

Expenditures, NIPA basis

2214.6

2308.7

2398.8

2476.1

2448.4

2469.6

2479.9

2506.6

2504.6

2529.4

2538.9

6

7
8
9
10
11
12

Consumption expenditures
Transfer payments (net)
Net interest paid
- Dividends received by government
Subsidies - current surplus of govt. enterprises
- Wage accruals less disbursements

1107.1
947.3
144.9
11.4
26.6
0.0

1138.1
1001.5
156.6
12.5
25.1
0.0

1175.6
1057.7
157.1
13.7
22.0
0.0

1219.2
1096.0
153.8
14.8
21.9
0.0

1204.0
1083.1
154.4
14.4
21.3
0.0

1218.8
1089.6
154.9
14.7
21.0
0.0

1222.3
1096.7
153.7
14.8
22.0
0.0

1231.6
1114.5
152.3
15.2
23.4
0.0

1227.6
1121.1
148.1
15.7
23.5
0.0

1248.7
1126.7
146.1
16.0
23.9
0.0

1252.5
1135.8
142.0
16.0
24.6
0.0

7
8
9
10
11
12

13

Surplus, NIPA basis

-89.9

-62.6

12.3

113.0

77.2

95.2

136.1

143.6

199.1

215.7

240.8

13

14
15

+ Consumption of fixed capital
- Insurance and pension fund reserves (2)

138.8
86.6

143.8
72.2

147.7
101.5

151.6
111.2

150.3
88.5

151.5
128.8

151.7
138.6

152.9
89.1

153.4
60.6

153.8
92.4

155.0
79.0

14
15

16

= Gross saving

-37.7

9.1

58.5

153.4

139.0

117.9

149.2

207.4

291.9

277.1

316.8

16

17

Gross investment

18
19

Fixed investment
Access rights sales

20

Net financial investment

21

61.6

54.4

150.7

136.3

228.8

91.0

146.9

285.2

362.6

275.6

17

218.4
-7.6

229.7
-3.5

235.4
-7.1

235.4
0.4

232.6
-26.1

237.2
-2.6

236.4
-0.2

237.3
-1.9

232.5
0.1

239.8
-7.0

18
19

-261.6

-149.2

-171.8

-77.5

-99.5

22.3

-143.6

-89.3

49.7

130.0

42.8

20

-40.4

44.0

43.8

52.7

9.5

115.1

-21.7

108.0

99.8

107.1

-57.1

21

22
23
24
25

Gold, SDRs, and official foreign exchange
Checkable deposits and currency
Time and savings deposits
Security RPs

-2.7
-18.5
6.2
-15.1

6.4
2.8
9.8
-3.0

-2.9
8.2
9.7
32.1

2.5
1.0
7.2
3.6

-11.2
10.1
-8.4
0.5

0.6
-4.7
21.7
6.0

2.7
-12.0
11.5
2.8

17.8
10.6
3.9
5.0

1.4
-11.4
17.7
34.5

5.8
103.8
14.8
-24.0

10.4
-122.1
7.9
16.0

22
23
24
25

26
27
28
29
30
31
32

Credit market instruments
Open market paper
U.S. government agency securities (3)
Municipal securities
Corporate and foreign bonds
Mortgages
Other loans and advances (4)

-4.8
4.4
11.6
-0.9
5.4
-11.8
-13.5

-11.8
17.1
-35.1
-3.5
7.1
-9.9
12.6

1.0
20.3
-25.3
-0.5
10.7
-3.7
-0.6

23.5
11.3
9.2
0.2
-6.9
-1.0
10.7

-5.7
14.8
-19.2
-0.8
-9.6
-6.2
15.4

88.5
6.7
80.6
0.4
-9.0
1.9
7.7

-22.8
16.7
-45.4
0.5
-2.1
-0.9
8.3

34.1
7.1
20.8
0.5
-7.0
1.4
11.3

4.9
17.1
-20.8
0.4
-6.1
2.9
11.5

69.0
2.3
39.1
-0.4
11.1
2.6
14.3

66.0
12.6
20.0
-0.4
16.0
2.8
15.1

26
27
28
29
30
31
32

33
34

Corporate equities
Mutual fund shares

1.3
7.8

12.1
5.9

14.5
6.0

1.3
3.6

14.2
6.1

-14.8
1.0

0.2
4.2

5.6
3.0

-4.2
3.5

6.7
3.7

1.3
3.5

33
34

35
36
37

Trade receivables
Taxes receivable
Miscellaneous assets

-3.8
-14.0
3.2

-1.6
-14.9
38.2

1.2
-4.2
-22.0

-0.7
-2.6
13.5

-0.3
2.4
1.8

4.7
-15.1
27.3

-1.7
14.9
-21.5

-5.6
-12.8
46.4

6.2
2.9
44.3

0.7
-7.6
-65.7

-9.3
8.2
-39.0

35
36
37

221.2

193.2

215.6

130.3

109.0

92.8

121.9

197.3

50.0

-22.9

-99.9

38

0.0
0.7

2.2
0.6

-0.5
0.1

-0.5
-0.0

-2.1
0.4

0.0
0.2

0.0
1.3

0.0
-1.9

0.0
0.3

0.0
0.2

0.0
1.7

39
40

187.3
8.0
225.5
0.2
-46.3
0.0

172.7
5.1
218.1
1.5
-51.9
0.0

170.6
2.0
177.4
-1.6
-7.2
-0.0

98.1
-0.5
41.4
-0.1
57.3
-0.0

103.9
-3.6
87.1
-1.4
21.8
-0.0

39.8
-0.1
-2.3
0.2
42.0
0.0

117.8
0.6
45.2
-0.9
73.0
0.0

130.7
1.1
35.5
1.7
92.4
0.0

61.1
-2.7
-22.9
-2.4
89.1
0.0

-72.7
-0.5
-149.8
-1.4
79.1
0.0

-129.6
0.9
-202.9
-0.4
72.8
0.0

41
42
43
44
45
46

1.4
28.0
3.9

-2.8
16.0
4.5

4.4
44.1
-3.2

0.8
31.7
0.2

3.3
21.9
-18.4

0.1
30.3
22.4

-2.5
38.2
-32.8

2.5
36.5
29.4

-3.6
15.9
-23.7

-1.2
36.4
14.4

3.5
36.3
-11.8

47
48
49

18.0

-52.5

4.1

2.7

2.7

-110.9

58.3

60.5

6.7

-85.5

41.2

50

38

Net acquisition of financial assets

-55.7
205.9
0.0

Net increase in liabilities

39
40

SDR certificates
Treasury currency

41
42
43
44
45
46

Credit market instruments
Savings bonds
Other Treasury securities (5)
Budget agency securities
Municipal securities
Multifamily residential mortgages

47
48
49

Trade payables
Insurance and pension reserves
Miscellaneous liabilities

50

Discrepancy

(1) This table is consistent with NIPA table 3.1 in the Survey of Current Business, Department of Commerce.
(2) Saving transferred to the households and nonprofit organizations sector. Includes value of Treasury and agency securities held by state and local government employee retirement funds.
(3) Holdings by state and local governments may include small amounts of agency securities issued by the federal government.
(4) Excludes loans to state and local governments.
(5) Excludes Treasury securities owed to state and local governments.