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The Budget and Economic Outlook: Fiscal Years 2004-2013 January 2003 |
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This appendix shows historical data for revenues, outlays, and the surplus or deficit. Budget data consistent with the projections in Chapters 1, 3, and 4 of this report are available for fiscal years 1962 through 2002 and are reported in Tables F-1 through F-10. The data are shown in both nominal dollars and as a percentage of gross domestic product (GDP). Data for 2002 come from the Department of the Treasury, Final Monthly Treasury Statement (October 2002), and from the Office of Management and Budget. Federal revenues, outlays, the surplus or deficit, and debt held by the public are shown in Tables F-1 and F-2. Revenues, outlays, and the surplus or deficit have both on-budget and off-budget components. Social Security's receipts and outlays were placed off-budget by the Balanced Budget and Emergency Deficit Control Act of 1985; the Postal Service was moved off-budget four years later by the Omnibus Budget Reconciliation Act of 1989. The major sources of federal revenues (including off-budget revenues) are presented in Tables F-3 and F-4. Social insurance taxes include payments by employers and employees for Social Security, Medicare, Railroad Retirement, and unemployment insurance, as well as pension contributions by federal workers. Excise taxes are levied on certain products and services, such as gasoline, alcoholic beverages, and air travel. Miscellaneous receipts consist of deposits of earnings by the Federal Reserve System and numerous fees and charges. Total outlays for major spending categories are shown in Tables F-5 and F-6. (Those totals include both on- and off-budget outlays.) To allow comparison of historical outlays with the projections in Chapters 1 and 4, historical data have been divided into the same categories of spending as the projections. Spending controlled by the appropriation process is classified as discretionary. Tables F-7 and F-8 divide discretionary spending into its defense, international, and domestic components. Entitlements and other mandatory spending include programs whose spending is governed by laws that set requirements for eligibility. Additional detail on entitlement programs is shown in Tables F-9 and F-10. Net interest is identical to the budget function of the same name (function 900). Offsetting receipts include the federal government's contributions to retirement programs for its employees, fees, charges (such as Medicare premiums), and receipts from the use of federally controlled land and offshore territory. Estimates of the standardized-budget surplus or deficit and its revenue and outlay components for fiscal years 1960 through 2002 are reported in Tables F-11 through F-13, along with estimates of potential GDP, actual GDP, and the nonaccelerating inflation rate of unemployment (NAIRU). The standardized-budget measure and its components are also shown as a percentage of potential GDP. The change in the standardized-budget surplus or deficit is commonly used to measure the short-term impact of fiscal policy on aggregate demand. The standardized-budget deficit (also called the structural deficit) excludes the effects that cyclical fluctuations in output and unemployment have on revenues and outlays and makes other adjustments. Historical estimates for standardized-budget revenues, outlays, and the surplus or deficit have been revised from those shown in previous reports. |
Table F-9. |
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Outlays for Entitlements and Other Mandatory Spending, 1962-2002 | ||||||||||||||||||||||||
(In billions of dollars) |
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Means-Tested Programs |
Non-Means-Tested Programs
|
Total Entitlements and Other Mandatory Spending |
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Medicaid | Other | Total Means- Tested |
Social Security |
Medicare | Other Retirement and Disability |
Unemploy- ment Compen- sation |
Farm Price Supports |
Deposit Insurance |
Other | Total Non- Means Tested |
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|
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1962 | 0.1 | 4.2 | 4.3 | 14.0 | 0 | 2.7 | 3.5 | 2.4 | -0.4 | 8.2 | 30.4 | 34.7 | ||||||||||||
1963 | 0.2 | 4.5 | 4.7 | 15.5 | 0 | 2.9 | 3.6 | 3.4 | -0.4 | 6.6 | 31.5 | 36.2 | ||||||||||||
1964 | 0.2 | 4.8 | 5.0 | 16.2 | 0 | 3.3 | 3.4 | 3.4 | -0.4 | 8.0 | 33.9 | 38.9 | ||||||||||||
1965 | 0.3 | 4.9 | 5.2 | 17.1 | 0 | 3.6 | 2.7 | 2.8 | -0.4 | 8.7 | 34.5 | 39.7 | ||||||||||||
1966 | 0.8 | 5.0 | 5.8 | 20.3 | * | 4.1 | 2.2 | 1.4 | -0.5 | 10.1 | 37.6 | 43.4 | ||||||||||||
1967 | 1.2 | 5.0 | 6.2 | 21.3 | 3.2 | 4.8 | 2.3 | 2.0 | -0.4 | 11.6 | 44.7 | 50.9 | ||||||||||||
1968 | 1.8 | 5.7 | 7.5 | 23.3 | 5.1 | 5.7 | 2.2 | 3.3 | -0.5 | 13.1 | 52.2 | 59.7 | ||||||||||||
1969 | 2.3 | 6.3 | 8.6 | 26.7 | 6.3 | 5.2 | 2.3 | 4.2 | -0.6 | 11.9 | 56.0 | 64.6 | ||||||||||||
1970 | 2.7 | 7.4 | 10.1 | 29.6 | 6.8 | 6.6 | 3.1 | 3.8 | -0.5 | 12.9 | 62.4 | 72.5 | ||||||||||||
1971 | 3.4 | 10.0 | 13.4 | 35.1 | 7.5 | 8.3 | 5.8 | 2.9 | -0.4 | 14.3 | 73.5 | 86.9 | ||||||||||||
1972 | 4.6 | 11.7 | 16.3 | 39.4 | 8.4 | 9.6 | 6.7 | 4.1 | -0.6 | 17.0 | 84.5 | 100.8 | ||||||||||||
1973 | 4.6 | 11.4 | 16.0 | 48.2 | 9.0 | 11.7 | 4.9 | 3.6 | -0.8 | 23.4 | 100.0 | 116.0 | ||||||||||||
1974 | 5.8 | 13.7 | 19.5 | 55.0 | 10.7 | 13.8 | 5.6 | 1.0 | -0.6 | 25.9 | 111.4 | 130.9 | ||||||||||||
1975 | 6.8 | 18.6 | 25.4 | 63.6 | 14.1 | 18.3 | 12.8 | 0.6 | 0.5 | 34.2 | 144.0 | 169.4 | ||||||||||||
1976 | 8.6 | 21.7 | 30.3 | 72.7 | 16.9 | 18.9 | 18.6 | 1.1 | -0.6 | 31.2 | 158.8 | 189.1 | ||||||||||||
1977 | 9.9 | 23.4 | 33.3 | 83.7 | 20.8 | 21.6 | 14.3 | 3.8 | -2.8 | 29.0 | 170.4 | 203.7 | ||||||||||||
1978 | 10.7 | 24.8 | 35.5 | 92.4 | 24.3 | 23.7 | 10.8 | 5.7 | -1.0 | 36.0 | 191.9 | 227.4 | ||||||||||||
1979 | 12.4 | 26.5 | 38.9 | 102.6 | 28.2 | 27.9 | 9.8 | 3.6 | -1.7 | 37.8 | 208.1 | 247.0 | ||||||||||||
1980 | 14.0 | 31.9 | 45.9 | 117.1 | 34.0 | 32.1 | 16.9 | 2.8 | -0.4 | 43.0 | 245.3 | 291.2 | ||||||||||||
1981 | 16.8 | 37.1 | 53.9 | 137.9 | 41.3 | 37.4 | 18.3 | 4.0 | -1.4 | 48.0 | 285.5 | 339.4 | ||||||||||||
1982 | 17.4 | 37.4 | 54.8 | 153.9 | 49.2 | 40.7 | 22.2 | 11.7 | -2.1 | 40.4 | 316.0 | 370.8 | ||||||||||||
1983 | 19.0 | 40.3 | 59.3 | 168.5 | 55.5 | 43.2 | 29.7 | 18.9 | -1.2 | 36.7 | 351.3 | 410.6 | ||||||||||||
1984 | 20.1 | 41.2 | 61.3 | 176.1 | 61.0 | 44.7 | 17.0 | 7.3 | -0.8 | 39.1 | 344.3 | 405.6 | ||||||||||||
1985 | 22.7 | 43.3 | 66.0 | 186.4 | 69.6 | 45.5 | 15.8 | 17.7 | -2.2 | 49.3 | 382.2 | 448.2 | ||||||||||||
1986 | 25.0 | 44.9 | 69.9 | 196.5 | 74.2 | 47.5 | 16.1 | 25.8 | 1.5 | 30.1 | 391.9 | 461.8 | ||||||||||||
1987 | 27.4 | 45.5 | 72.9 | 205.1 | 79.9 | 50.8 | 15.5 | 22.4 | 3.1 | 24.5 | 401.3 | 474.2 | ||||||||||||
1988 | 30.5 | 50.0 | 80.5 | 216.8 | 85.7 | 54.2 | 13.6 | 12.2 | 10.0 | 32.0 | 424.5 | 505.0 | ||||||||||||
1989 | 34.6 | 54.2 | 88.8 | 230.4 | 94.3 | 57.2 | 13.9 | 10.6 | 22.0 | 31.4 | 459.8 | 548.6 | ||||||||||||
1990 | 41.1 | 58.8 | 99.9 | 246.5 | 107.4 | 59.9 | 17.1 | 6.5 | 57.9 | 31.6 | 527.0 | 626.9 | ||||||||||||
1991 | 52.5 | 69.7 | 122.2 | 266.8 | 114.2 | 64.4 | 25.1 | 10.1 | 66.2 | 33.4 | 580.1 | 702.3 | ||||||||||||
1992 | 67.8 | 78.7 | 146.5 | 285.2 | 129.4 | 66.6 | 37.0 | 9.3 | 2.6 | 40.3 | 570.3 | 716.8 | ||||||||||||
1993 | 75.8 | 86.5 | 162.3 | 302.0 | 143.1 | 68.7 | 35.5 | 15.6 | -28.0 | 38.8 | 575.7 | 738.0 | ||||||||||||
1994 | 82.0 | 95.0 | 177.0 | 316.9 | 159.5 | 72.1 | 26.4 | 9.9 | -7.6 | 31.8 | 609.1 | 786.1 | ||||||||||||
1995 | 89.1 | 101.5 | 190.6 | 333.3 | 177.1 | 75.2 | 21.3 | 5.8 | -17.9 | 33.2 | 628.0 | 818.5 | ||||||||||||
1996 | 92.0 | 104.2 | 196.2 | 347.1 | 191.3 | 77.3 | 22.6 | 5.0 | -8.4 | 27.6 | 662.5 | 858.7 | ||||||||||||
1997 | 95.6 | 107.2 | 202.8 | 362.3 | 207.9 | 80.6 | 20.6 | 5.8 | -14.4 | 30.8 | 693.5 | 896.3 | ||||||||||||
1998 | 101.1 | 107.9 | 209.0 | 376.1 | 211.0 | 82.9 | 19.6 | 8.5 | -4.4 | 35.8 | 729.6 | 938.6 | ||||||||||||
1999 | 107.7 | 113.0 | 220.7 | 387.0 | 209.3 | 85.3 | 21.4 | 18.0 | -5.3 | 40.5 | 756.1 | 976.8 | ||||||||||||
2000 | 117.4 | 118.6 | 235.9 | 406.0 | 216.0 | 87.8 | 20.7 | 30.5 | -3.1 | 35.8 | 793.9 | 1,029.8 | ||||||||||||
2001 | 130.4 | 118.4 | 248.7 | 429.4 | 237.9 | 92.7 | 27.9 | 22.4 | -1.4 | 37.8 | 846.5 | 1,095.2 | ||||||||||||
2002 | 147.5 | 138.5 | 286.1 | 452.5 | 253.7 | 96.1 | 50.6 | 13.9 | -1.0 | 70.8 | 910.6 | 1,196.6 | ||||||||||||
Source: Congressional Budget Office. | ||||||||||||||||||||||||
Note: * = less than $50 million. | ||||||||||||||||||||||||
Table F-10. |
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Outlays for Entitlements and Other Mandatory Spending, 1962-2002 | ||||||||||||||||||||||||
(As a percentage of GDP) |
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Means-Tested Programs |
Non-Means-Tested Programs
|
Total Entitlements and Other Mandatory Spending |
||||||||||||||||||||||
Medicaid | Other | Total Means- Tested |
Social Security |
Medicare | Other Retirement and Disability |
Unemploy- ment Compen- sation |
Farm Price Supports |
Deposit Insurance |
Other | Total Non- Means- Tested |
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1962 | * | 0.7 | 0.8 | 2.5 | 0 | 0.5 | 0.6 | 0.4 | -0.1 | 1.4 | 5.3 | 6.1 | ||||||||||||
1963 | * | 0.8 | 0.8 | 2.6 | 0 | 0.5 | 0.6 | 0.6 | -0.1 | 1.1 | 5.2 | 6.0 | ||||||||||||
1964 | * | 0.7 | 0.8 | 2.5 | 0 | 0.5 | 0.5 | 0.5 | -0.1 | 1.2 | 5.3 | 6.1 | ||||||||||||
1965 | * | 0.7 | 0.8 | 2.5 | 0 | 0.5 | 0.4 | 0.4 | -0.1 | 1.3 | 5.0 | 5.8 | ||||||||||||
1966 | 0.1 | 0.7 | 0.8 | 2.7 | * | 0.5 | 0.3 | 0.2 | -0.1 | 1.3 | 5.0 | 5.7 | ||||||||||||
1967 | 0.1 | 0.6 | 0.8 | 2.6 | 0.4 | 0.6 | 0.3 | 0.2 | * | 1.4 | 5.5 | 6.3 | ||||||||||||
1968 | 0.2 | 0.7 | 0.9 | 2.7 | 0.6 | 0.7 | 0.2 | 0.4 | -0.1 | 1.5 | 6.0 | 6.9 | ||||||||||||
1969 | 0.2 | 0.7 | 0.9 | 2.8 | 0.7 | 0.6 | 0.2 | 0.4 | -0.1 | 1.3 | 5.9 | 6.8 | ||||||||||||
1970 | 0.3 | 0.7 | 1.0 | 2.9 | 0.7 | 0.7 | 0.3 | 0.4 | * | 1.3 | 6.2 | 7.2 | ||||||||||||
1971 | 0.3 | 0.9 | 1.2 | 3.2 | 0.7 | 0.8 | 0.5 | 0.3 | * | 1.3 | 6.8 | 8.0 | ||||||||||||
1972 | 0.4 | 1.0 | 1.4 | 3.3 | 0.7 | 0.8 | 0.6 | 0.3 | -0.1 | 1.4 | 7.2 | 8.6 | ||||||||||||
1973 | 0.4 | 0.9 | 1.2 | 3.7 | 0.7 | 0.9 | 0.4 | 0.3 | -0.1 | 1.8 | 7.6 | 8.8 | ||||||||||||
1974 | 0.4 | 0.9 | 1.4 | 3.8 | 0.7 | 1.0 | 0.4 | 0.1 | * | 1.8 | 7.7 | 9.1 | ||||||||||||
1975 | 0.4 | 1.2 | 1.6 | 4.1 | 0.9 | 1.2 | 0.8 | * | * | 2.2 | 9.2 | 10.9 | ||||||||||||
1976 | 0.5 | 1.3 | 1.7 | 4.2 | 1.0 | 1.1 | 1.1 | 0.1 | * | 1.8 | 9.1 | 10.9 | ||||||||||||
1977 | 0.5 | 1.2 | 1.7 | 4.2 | 1.1 | 1.1 | 0.7 | 0.2 | -0.1 | 1.5 | 8.6 | 10.3 | ||||||||||||
1978 | 0.5 | 1.1 | 1.6 | 4.2 | 1.1 | 1.1 | 0.5 | 0.3 | * | 1.6 | 8.6 | 10.2 | ||||||||||||
1979 | 0.5 | 1.1 | 1.6 | 4.1 | 1.1 | 1.1 | 0.4 | 0.1 | -0.1 | 1.5 | 8.3 | 9.9 | ||||||||||||
1980 | 0.5 | 1.2 | 1.7 | 4.3 | 1.2 | 1.2 | 0.6 | 0.1 | * | 1.6 | 9.0 | 10.7 | ||||||||||||
1981 | 0.6 | 1.2 | 1.8 | 4.5 | 1.3 | 1.2 | 0.6 | 0.1 | * | 1.6 | 9.3 | 11.1 | ||||||||||||
1982 | 0.5 | 1.2 | 1.7 | 4.8 | 1.5 | 1.3 | 0.7 | 0.4 | -0.1 | 1.2 | 9.8 | 11.5 | ||||||||||||
1983 | 0.6 | 1.2 | 1.7 | 4.9 | 1.6 | 1.3 | 0.9 | 0.5 | * | 1.1 | 10.2 | 11.9 | ||||||||||||
1984 | 0.5 | 1.1 | 1.6 | 4.6 | 1.6 | 1.2 | 0.4 | 0.2 | * | 1.0 | 8.9 | 10.5 | ||||||||||||
1985 | 0.5 | 1.0 | 1.6 | 4.5 | 1.7 | 1.1 | 0.4 | 0.4 | -0.1 | 1.2 | 9.2 | 10.8 | ||||||||||||
1986 | 0.6 | 1.0 | 1.6 | 4.5 | 1.7 | 1.1 | 0.4 | 0.6 | * | 0.7 | 8.9 | 10.5 | ||||||||||||
1987 | 0.6 | 1.0 | 1.6 | 4.4 | 1.7 | 1.1 | 0.3 | 0.5 | 0.1 | 0.5 | 8.6 | 10.2 | ||||||||||||
1988 | 0.6 | 1.0 | 1.6 | 4.3 | 1.7 | 1.1 | 0.3 | 0.2 | 0.2 | 0.6 | 8.5 | 10.1 | ||||||||||||
1989 | 0.6 | 1.0 | 1.6 | 4.3 | 1.7 | 1.1 | 0.3 | 0.2 | 0.4 | 0.6 | 8.5 | 10.1 | ||||||||||||
1990 | 0.7 | 1.0 | 1.7 | 4.3 | 1.9 | 1.0 | 0.3 | 0.1 | 1.0 | 0.6 | 9.2 | 10.9 | ||||||||||||
1991 | 0.9 | 1.2 | 2.1 | 4.5 | 1.9 | 1.1 | 0.4 | 0.2 | 1.1 | 0.6 | 9.8 | 11.8 | ||||||||||||
1992 | 1.1 | 1.3 | 2.4 | 4.6 | 2.1 | 1.1 | 0.6 | 0.1 | * | 0.6 | 9.2 | 11.5 | ||||||||||||
1993 | 1.2 | 1.3 | 2.5 | 4.6 | 2.2 | 1.0 | 0.5 | 0.2 | -0.4 | 0.6 | 8.8 | 11.2 | ||||||||||||
1994 | 1.2 | 1.4 | 2.5 | 4.6 | 2.3 | 1.0 | 0.4 | 0.1 | -0.1 | 0.5 | 8.8 | 11.3 | ||||||||||||
1995 | 1.2 | 1.4 | 2.6 | 4.6 | 2.4 | 1.0 | 0.3 | 0.1 | -0.2 | 0.5 | 8.6 | 11.2 | ||||||||||||
1996 | 1.2 | 1.4 | 2.5 | 4.5 | 2.5 | 1.0 | 0.3 | 0.1 | -0.1 | 0.4 | 8.6 | 11.2 | ||||||||||||
1997 | 1.2 | 1.3 | 2.5 | 4.4 | 2.5 | 1.0 | 0.3 | 0.1 | -0.2 | 0.4 | 8.5 | 10.9 | ||||||||||||
1998 | 1.2 | 1.2 | 2.4 | 4.3 | 2.4 | 1.0 | 0.2 | 0.1 | -0.1 | 0.4 | 8.4 | 10.8 | ||||||||||||
1999 | 1.2 | 1.2 | 2.4 | 4.2 | 2.3 | 0.9 | 0.2 | 0.2 | -0.1 | 0.4 | 8.3 | 10.7 | ||||||||||||
2000 | 1.2 | 1.2 | 2.4 | 4.2 | 2.2 | 0.9 | 0.2 | 0.3 | * | 0.4 | 8.2 | 10.6 | ||||||||||||
2001 | 1.3 | 1.2 | 2.5 | 4.3 | 2.4 | 0.9 | 0.3 | 0.2 | * | 0.4 | 8.4 | 10.9 | ||||||||||||
2002 | 1.4 | 1.3 | 2.8 | 4.4 | 2.5 | 0.9 | 0.5 | 0.1 | * | 0.7 | 8.8 | 11.6 | ||||||||||||
Source: Congressional Budget Office. | ||||||||||||||||||||||||
Note: * = between -0.05 percent and 0.05 percent. | ||||||||||||||||||||||||
Table F-11. |
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Surpluses, Deficits, Debt, and Related Series, 1960-2002 | ||||||||||||||||||
In Billions of Dollars |
As a Percentage of GDP |
|||||||||||||||||
Surplus or Deficit (-) |
Standardized- Budget Surplus or Deficit (-)a |
Debt Held by the Public |
Surplus or Deficit (-) |
Standardized- Budget Surplus or Deficit (-)a,b |
Debt Held by the Public |
GDP (Billions of Dollars) |
NAIRUd (Percent) |
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Actualc | Potential | |||||||||||||||||
1960 | * | * | 237 | 0.1 | 0.1 | 45.6 | 520 | 520 | 5.5 | |||||||||
1961 | -3 | 3 | 238 | -0.6 | 0.6 | 44.9 | 531 | 547 | 5.5 | |||||||||
1962 | -7 | -4 | 248 | -1.3 | -0.8 | 43.6 | 569 | 575 | 5.5 | |||||||||
1963 | -5 | -4 | 254 | -0.8 | -0.6 | 42.3 | 600 | 605 | 5.5 | |||||||||
1964 | -6 | -7 | 257 | -0.9 | -1.0 | 40.0 | 642 | 637 | 5.6 | |||||||||
1965 | -1 | -5 | 261 | -0.2 | -0.7 | 37.9 | 688 | 674 | 5.6 | |||||||||
1966 | -4 | -14 | 264 | -0.5 | -2.0 | 34.8 | 757 | 719 | 5.7 | |||||||||
1967 | -9 | -21 | 267 | -1.1 | -2.7 | 32.8 | 812 | 776 | 5.8 | |||||||||
1968 | -25 | -31 | 290 | -2.9 | -3.7 | 33.3 | 870 | 840 | 5.8 | |||||||||
1969 | 3 | -11 | 278 | 0.3 | -1.2 | 29.3 | 949 | 916 | 5.8 | |||||||||
1970 | -3 | -6 | 283 | -0.3 | -0.6 | 27.9 | 1,014 | 1,002 | 5.9 | |||||||||
1971 | -23 | -11 | 303 | -2.1 | -1.0 | 28.0 | 1,082 | 1,090 | 5.9 | |||||||||
1972 | -23 | -20 | 322 | -2.0 | -1.7 | 27.4 | 1,178 | 1,179 | 6.0 | |||||||||
1973 | -15 | -21 | 341 | -1.1 | -1.7 | 26.0 | 1,314 | 1,274 | 6.1 | |||||||||
1974 | -6 | 2 | 344 | -0.4 | 0.1 | 23.8 | 1,442 | 1,415 | 6.2 | |||||||||
1975 | -53 | -1 | 395 | -3.4 | ** | 25.3 | 1,559 | 1,616 | 6.2 | |||||||||
1976 | -74 | -37 | 477 | -4.2 | -2.1 | 27.5 | 1,736 | 1,787 | 6.2 | |||||||||
1977 | -54 | -22 | 549 | -2.7 | -1.1 | 27.8 | 1,975 | 2,000 | 6.2 | |||||||||
1978 | -59 | -33 | 607 | -2.7 | -1.5 | 27.4 | 2,219 | 2,212 | 6.3 | |||||||||
1979 | -41 | -18 | 640 | -1.6 | -0.7 | 25.6 | 2,505 | 2,472 | 6.3 | |||||||||
1980 | -74 | -13 | 712 | -2.7 | -0.5 | 26.1 | 2,732 | 2,775 | 6.2 | |||||||||
1981 | -79 | -14 | 789 | -2.6 | -0.5 | 25.8 | 3,060 | 3,128 | 6.2 | |||||||||
1982 | -128 | -41 | 925 | -4.0 | -1.2 | 28.6 | 3,231 | 3,435 | 6.1 | |||||||||
1983 | -208 | -114 | 1,137 | -6.0 | -3.1 | 33.0 | 3,442 | 3,682 | 6.1 | |||||||||
1984 | -185 | -145 | 1,307 | -4.8 | -3.7 | 34.0 | 3,847 | 3,930 | 6.1 | |||||||||
1985 | -212 | -177 | 1,507 | -5.1 | -4.2 | 36.4 | 4,142 | 4,185 | 6.0 | |||||||||
1986 | -221 | -214 | 1,741 | -5.0 | -4.8 | 39.6 | 4,398 | 4,424 | 6.0 | |||||||||
1987 | -150 | -152 | 1,890 | -3.2 | -3.2 | 40.6 | 4,654 | 4,692 | 6.0 | |||||||||
1988 | -155 | -130 | 2,052 | -3.1 | -2.6 | 40.9 | 5,017 | 4,996 | 5.9 | |||||||||
1989 | -153 | -118 | 2,191 | -2.8 | -2.2 | 40.5 | 5,407 | 5,345 | 5.9 | |||||||||
1990 | -221 | -121 | 2,412 | -3.9 | -2.1 | 42.0 | 5,738 | 5,706 | 5.9 | |||||||||
1991 | -269 | -147 | 2,689 | -4.5 | -2.4 | 45.4 | 5,928 | 6,088 | 5.8 | |||||||||
1992 | -290 | -185 | 3,000 | -4.7 | -2.9 | 48.2 | 6,222 | 6,403 | 5.7 | |||||||||
1993 | -255 | -185 | 3,248 | -3.9 | -2.8 | 49.5 | 6,561 | 6,713 | 5.6 | |||||||||
1994 | -203 | -145 | 3,433 | -2.9 | -2.1 | 49.4 | 6,949 | 7,030 | 5.4 | |||||||||
1995 | -164 | -144 | 3,604 | -2.2 | -2.0 | 49.2 | 7,323 | 7,376 | 5.3 | |||||||||
1996 | -108 | -99 | 3,734 | -1.4 | -1.3 | 48.5 | 7,700 | 7,740 | 5.2 | |||||||||
1997 | -22 | -73 | 3,772 | -0.3 | -0.9 | 46.0 | 8,194 | 8,137 | 5.2 | |||||||||
1998 | 69 | -37 | 3,721 | 0.8 | -0.4 | 43.0 | 8,655 | 8,528 | 5.2 | |||||||||
1999 | 126 | -3 | 3,632 | 1.4 | ** | 39.7 | 9,141 | 8,945 | 5.2 | |||||||||
2000 | 236 | 99 | 3,410 | 2.4 | 1.1 | 35.1 | 9,715 | 9,442 | 5.2 | |||||||||
2001 | 127 | 80 | 3,320 | 1.3 | 0.8 | 33.1 | 10,032 | 9,995 | 5.2 | |||||||||
2002 | -158 | -153 | 3,540 | -1.5 | -1.5 | 34.3 | 10,337 | 10,428 | 5.2 | |||||||||
Sources: Congressional Budget Office; Department of Commerce, Bureau of Economic Analysis. | ||||||||||||||||||
Note: * = less than $500 million; ** = less than 0.05 percent. | ||||||||||||||||||
a. Excludes deposit insurance, receipts from auctions of licenses to use the electromagnetic spectrum, timing adjustments, and contributions from allied nations for Operation Desert Storm (which were received in 1991 and 1992). | ||||||||||||||||||
b. Shown as a percentage of potential GDP. | ||||||||||||||||||
c. CBO calculated fiscal year numbers from quarterly national income and product account data from the Bureau of Economic Analysis. | ||||||||||||||||||
d. The NAIRU is the nonaccelerating inflation rate of unemployment. It is the benchmark for computing potential GDP. | ||||||||||||||||||
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