Table 17. BUDGET OUTLAYS BY FUNCTION, 1966-1976 (in millions of dollars)-Continued

Function

700

8,050

953 Rents and royalties on the Outer Continental
Shelf

Total undistributed offsetting receipts.

1,447 -1,661 -1,825 -2,018 -2,444 -2,611 -2,768 -2,927 -3,319 -4,070 -3,888
1,917 -2,275 -2,674 -3,099 -3,936 -4,765 -5,089 -5, 436 -6,583 -7,769 -8, 305
-248 -637 -961 -428 -187 -1,051 -279 -3,956 -6,748 -5,000 -8,000
-4, 573 -5, 460 -5, 545 -6, 567-8, 427 -8, 137 -12, 318 -16, 651-16, 839 -20, 193
134, 652 158, 254 178, 833 184, 548 196,588 211,425 231,876 246, 526 268, 392 313, 446 349, 372

-3, 613

Interfund transactions

106,512 126,779 143, 105
31,708 36, 693 41,499
-3,568 -5,218 -5,771

148,811
43, 284
-7,547

156, 301 163, 651 177,959 186,403 198, 692 229,005 254, 215 49,065 59,361 67,073 81,447 90,833 110,338 123,425 -8,778 -11,586-13, 156 -21, 325 -21, 133-25, 897 -28,268

Table 18. FEDERAL TRANSACTIONS IN THE NATIONAL INCOME ACCOUNTS, 1965–1976 (in billions of dollars)

Purchases of goods and services.

64.4

94.9

Defense.

(28.3) (31.8)

71.7 85.3
(48.9) (54.4) (67.7) (75.9) (78.0)
(15.5) (17.3) (17.6) (18.9) (21.4) (21.0) (22.7) (29.5)
30.5
34.2 39.4 44.8 50.7 56.8 69.7 78.6
(37.2) (42.7) (48.5)

99.4

98.0

95.8

103.2 105.3

110.3

121.1

136.1

(77.0)

(73.1) (73.6)

(54.8)

(67.4)

(75.7) (86.7)

(101.3)

(128.2) (143.0)

Foreign..

(2.2) (2.3)

(2.2)

(2.1) (2.2)

(2.0)

(2.3)

(2.8)

(2.7)

(2.9)

(3.5)

(4.0)

Grants-in-aid to State and local governments.

10.9

12.7

14.8

17.8

19.2

22.6

26.8

32.6

40.2

41.5

47.0

50.8

Net interest paid..

8.5

9.0

9.9

10.9

12.3

14.0

14.3

13.4

14.5

17.4

19.8

23.0

Subsidies less current surplus of Government

enterprises

4.1

4.5

5.1

4.1

4.1

4.7

5.7

5.3

6.7

4.7

3.7 4.1

Wage accruals less disbursements.

.1

-.5

.2

Table 19. FEDERAL FINANCES AND THE GROSS NATIONAL PRODUCT, 1954-1976 (dollar amounts in billions)

Fiscal year

Budget receipts

Percent

Amount

of GNP

Percent
of GNP

of GNP

Percent
of GNP

Notes. Certain interfund transactions are excluded from receipts and outlays starting in 1932. For years prior to 1932 the amounts of such transactions are not significant.

Refunds of receipts are excluded from receipts and outlays starting in 1913; comparable data are not available for prior years.

Data for 1789-1939 are for the administrative budget; 1940-1976 are for the unified budget.