TABLE 2.-Receipts and expenditures, fiscal years 1789-1960—Continued Net receipts $3,780, 148, 685 3,962, 755, 690 4, 129, 394, 441 4, 177, 941, 702 3,729, 913, 845 5, 144, 013, 044 44, 475, 303, 665 36, 494, 900, 837 60, 389, 743, 895 $113, 476, 853 32,576, 510 72, 966, 260 181, 235, 203 3,729, 913, 845 5, 144, 013, 044 44, 475, 303, 665 61, 286, 560, 916 60, 208, 508, 692 1,941, 902, 117 2, 125, 964, 360 3,226, 103, 049 3, 149, 506, 267 5, 231, 768, 454 $346, 142, 001 312,743, 410 1927. 369, 114, 122 318, 909, 096 $881, 806, 662 $1,464, 175, 961 1928. 400, 989, 683 331, 335, 492 731, 764, 476 1,639, 175, 204 1929 425, 947, 194 364, 561, 544 678, 330, 400 1,830, 020, 348 4,775, 778, 841 1937. 628, 104, 285 556, 674, 066 866, 384, 331 6,596, 619, 790 5,704, 858, 728 4,625, 163, 465 6, 549,938, 998 50, 490, 101, 935 5,789, 467, 599 891, 484, 523 2,313,057, 956 8,579, 588, 976 20,888, 349, 026 26, 537, 633, 877 30, 047, 152, 135 15, 164, 412, 379 5, 597, 203, 036 4,284, 619, 125 4,434, 705, 920 $1,690, 460, 724 4, 129, 545, 653 9,731, 611, 019 3, 520, 632, 580 16, 405, 038, 348 1,040, 935, 697 1, 110, 692, 812 1,260,085, 336 1, 808, 160, 396 2, 608, 979, 806 3, 616, 686, 048 4,721, 957, 683 5,749, 913, 064 5, 612, 654, 812 5,859, 263, 437 6, 503, 580, 030 6, 382, 485, 640 6,370, 361, 774 6,786, 598, 862 7,244, 193, 486 7,606, 774, 062 7,592, 769, 102 9, 179, 588, 857 6, 222, 451, 833 5,899, 509, 926 9,880, 496, 406 14, 185, 059, 207 16, 473, 764, 057 14, 262, 279, 670 12, 574, 435, 216 20, 427, 444, 299 17, 588, 084, 620 19, 012, 727, 036 23,756, 285, 980 20,913, 201, 820 22, 612, 578, 594 23, 985, 513, 486 23,725, 946, 561 25, 203, 401, 856 32, 017, 030, 764 27, 052, 072, 193 737, 672, 818 6, 520, 965, 945-2, 791, 052, 100 9, 062, 032, 204-3,918, 019, 161 98, 416, 219, 790-53, 940, 916, 126 60, 447, 574, 319 39,032, 393, 376 32, 955, 232, 145 39, 474, 412, 987 -20, 676, 170, 609 753, 787, 660 39, 544, 036, 935-3, 122, 102, 357 43, 970, 284, 450 3,509, 782, 624 65, 303, 201, 294-4,016, 640, 378 74, 119, 797, 882 -9,449, 213, 457 67,537,000, 317 -3, 116, 966, 256 64, 388, 737, 614-4, 180, 228, 921 66, 224, 397, 935 68, 966, 314, 562 71, 369, 174, 086 76, 539, 412, 799 1, 625, 553, 403 1,595, 571, 550 -2,819, 454, 041 1, 224, 047, 422 80, 342, 335, 375-12, 426, 986, 751 Footnotes on pages 400 and 401. (Footnotes for table 2.) From 1789 to 1842 the fiscal year ended Dec. 31; from 1844 to date, on June 30. Figures for 1843 are for a half year, Jan. 1 to June 30. For postal receipts and expenditures, see table 19. Effective Jan. 3, 1949, amounts refunded by the Government, principally for the overpayment of taxes, have been reported as deductions from total receipts rather than as expenditures. Also, effective July 1, 1948, payments to the Treasury, principally by wholly owned Government corporations for retirement of capital stock and for disposition of earnings, have been excluded in reporting both budget receipts and expenditures. Neither of these changes affects the size of the budget surplus or deficit. Prior year figures, beginning with the fiscal year 1931, have been adjusted accordingly for comparative purposes. For amounts of adjustments on account of refunds of receipts and capital transfers for the fiscal years 1931 through 1948, see 1956 annual report, p. 396, footnote 3. Excludes civil expenditures under War and Navy Departments in Washington through 1915. After 1915 includes all expenditures by the Departments of the Army (including rivers and harbors and Panama Canal), Navy, and, beginning with fiscal 1949, the Air Force. Beginning with 1952, Department of Defense expenditures not classified under any one of these 3 departments are included in "Other." Also, beginning with 1960, expenditures for "Mutual Security, Mutual Assistance Program" formerly classified under "Funds Appropriated to the President," but currently classified under "Defense Department," are included in "Other.' Title was changed pursuant to act of July 26, 1947. Figures for Department of the Army include expenditures of Department of the Air Force from funds made available prior to fiscal 1949. Expenditures for Office of the Secretary of Defense and interservice activities of the Defense Department are included in "Other." The practice of including statutory debt retirements in budget expenditures was discontinued effective with fiscal 1948. Such expenditures are not included in this table, nor does the "Surplus or deficit" take into account such expenditures. Table 37 shows details of statutory debt retirements. 7 Includes the tonnage tax through 1931. Beginning with 1932 the tonnage tax has been covered into the general fund as miscellaneous receipts and is included in this table in "Other receipts." Transfers to trust funds and refunds of receipts. For content see table 3. For content see table 5. See also the note to this table. TABLE 3.-Transfers to trust funds and [On basis of daily Treasury statements through 1952; thereafter on basis of "Monthly Statement 1 Represents tax receipts transferred and appropriated to the respective trust accounts. $265, 000, 000 533, 402, 587 610.097, 413 670, 650,000 812,490, 728 1,036, 468, 839 1,345,296, 201 1,548, 479, 777 1,596, 224, 782 1,493, 703. 701 1,715, 917, 175 2, 338, 753, 695 2,240, 414, 065 2,656, 220, 526 3,694, 527, 792 4,306, 218, 612 4,706, 252, 235 5, 140, 311, 374 5,638, 464, 120 6,971,066, 460 8,729, 312, 174 10,424, 150, 452 10, 700, 590, 420 13. 459, 913, 934 Amounts appropriated to the Federal old-age and survivors insurance trust fund are equivalent to the amounts of taxes collected and deposited for old-age insurance. Amounts transferred currently for appropriation to the trust fund are based on estimates of old-age insurance tax receipts made by the Secretary of the Treasury (42 U.S.C. 401 (a)), and are adjusted in later transfers on the basis of wage and self-employment income records maintained in the Social Security Administration. Tax refunds are reimbursed to the general fund by the trust fund (42 U.S.C. 401 (g) (z)). The Federal disability insurance trust fund was established by the Social Security Act Amendments of 1956, approved Aug. 1, 1956 (42 U.S.C. 401 (b)). The act appropriated to the trust fund amounts equivalent to specified percentages of the wages and self-employment income, respectively, which are taxed for old-age insurance, and provided that the amounts appropriated should be transferred from time to time to the trust fund on the same basis as transfers to the Federal old-age and survivors insurance trust fund. Rates of tax were increased by the percentages appropriated to the Federal disability insurance trust fund, the increase being applicable to wages paid and taxable years beginning after Dec. 31, 1956. Tax refunds are reimbursed to the general fund by the trust fund (42 U.S.C. 401 (g) (z)). 10 Sec. 114(f) of the Economic Cooperation Act of 1948, approved Apr. 3, 1948, required that the sum of $3,000,000,000 be transferred to a trust fund entitled "Foreign Economic Cooperation Trust Fund" and 'considered as expended during the fiscal year 1948, for the purpose of reporting governmental expenditures." The effect of this was to charge the budget in fiscal 1948 for expenditures made in fiscal 1949, with consequent effect on the budget surplus or deficit of those years. This bookkeeping transaction had no effect on the actual timing of either receipts or expenditures. In order to simplify comparison of figures between years, the transactions shown in this table do not take into account the transfer of $3,000,000,000 in fiscal 1948 to the Foreign Economic Cooperation trust fund; expenditures of $3,000,000,000 during fiscal 1949 from the Foreign Economic Cooperation trust fund are treated as budget expenditures in this table. If effect is given to sec. 114(f) of the Economic Cooperation Act of 1948, the budget results for the fiscal years 1948 and 1949 would be as follows: 11 Expenditures for the Department of the Air Force (established Sept. 18, 1947) formerly included under Department of the Army. 12 Beginning with the fiscal year 1951, investments of wholly owned Government corporations in public debt securities are excluded from budget expenditures and included with other investments under "Trust account and other transactions." See tables 8 and 10. NOTE. In accordance with the plan stated in the President's budget message of Jan. 18, 1960, the fiscal year totals of net receipts and total expenditures have been revised to eliminate certain interfund transactions consisting mainly of interest payments by Government agencies to the Treasury Department. This elimination does not affect the amount of the budget surplus or deficit. See also tables 1, 4, 5, 10, 12, and 20. refunds of receipts, fiscal years 1931-60 of Receipts and Expenditures of the United States Government," see "Bases of Tables"] The Highway Revenue Act of 1956, approved June 29, 1956 (23 U.S.C. 120, note), established a highway trust fund from which are to be made, as provided by appropriation acts, Federal-aid highway expenditures after June 30, 1956, and before July 1, 1972. The act appropriated to this fund amounts equivalent to specified percentages of receipts from certain excise taxes on motor fuels, motor vehicles, tires and tubes, and use of certain vehicles, and provided that the amounts appropriated should be transferred currently to the trust fund on the basis of estimates by the Secretary of the Treasury with proper adjustments to be made in subsequent transfers. The use tax was imposed by the act and rates were increased for the other taxes. Tax refunds are reimbursed to the general fund by the trust fund (23 U.S.C. 120, note) (sec. 209(f) (4) of the act of June 29, 1956). Prior to fiscal 1957 corresponding excise tax receipts were included in net budget receipts and Federal-aid highway expenditures were included in budget expenditures. 6 Amounts are appropriated to the railroad retirement account equal to the amount of taxes under the Railroad Retirement Tax Act deposited in the Treasury, less refunds, during each fiscal year (65 Stat. 222 and 66 Stat. 371) and transfers are made currently. Excludes the Government's contribution for creditable military service from 1944 through 1954 (45 U.S.Č. 228C-1(n)). 7 Amounts shown have been reduced by refunds of taxes reimbursed from the Federal old-age and survivors insurance, Federal disability insurance, and highway trust funds. See table 16 for certain detail by States for the current year. 9,497, 810 6,091, 123 11, 259, 808 4,389, 417 8, 241, 988 3, 315, 117 2,302, 206, 394 6,608, 425, 006 7,824, 090, 621 |