Table 3.18B. Relation of Federal Government Current Receipts and Expenditures in the National Income and Product Accounts to the Budget Fiscal Years and Quarters

Quarterly

			Billions of Dollars
	Line	Name	Q4 2024	Q3 2024	Q4 2023
		Current receipts
	line 1	Budget receipts	1,082.939	1,164.537	1,107.573
	line 2	Less: Coverage differences	12.837	15.676	12.189
	line 3	Contributions received by federal employee pension and insurance funds	2.011	2.154	1.831
	line 4	Capital transfers received	8.815	11.525	8.390
	line 5	Financial transactions	0.000	0.000	0.000
	line 6	Other	2.011	1.997	1.968
	line 7	Less: Netting and grossing differences	-80.179	-83.326	-76.620
	line 8	Supplementary medical insurance premiums	-37.834	-37.880	-35.799
	line 9	Interest receipts	-16.038	-14.418	-12.166
	line 10	Current surplus of government enterprises	0.371	0.184	0.846
	line 11	Other	-26.677	-31.211	-29.501
	line 12	Plus: Timing differences	173.162	15.366	53.110
	line 13	Taxes on corporate income	11.547	-9.891	-41.166
	line 14	Federal and state unemployment insurance taxes	5.252	1.522	4.516
	line 15	Withheld personal income tax and social security contributions	151.016	43.797	84.045
	line 16	Excise taxes	-0.631	-9.120	-0.229
	line 17	Other	5.977	-10.941	5.944
	line 18	Equals: Federal government current receipts NIPAs	1,323.443	1,247.553	1,225.114
		Current expenditures
	line 19	Budget outlays	1,794.647	1,722.914	1,616.016
	line 20	Less: Coverage differences	60.537	35.662	95.423
	line 21	Federal employee pension and insurance fund transactions	-25.621	-15.571	-27.464
	line 22	Interest accrued	-40.664	-41.333	-42.475
	line 23	Contributions accrued (employer)	-38.342	-26.155	-36.057
	line 24	Benefits paid	53.315	51.826	50.977
	line 25	Administrative expenses	0.070	0.091	0.091
	line 26	Financing disbursements from credit programs	-17.231	1.066	1.066
	line 27	Other differences in funds covered	-2.177	2.276	2.139
	line 28	Net investment	20.577	20.165	18.095
	line 29	Capital transfers paid	65.556	65.494	41.103
	line 30	Financial transactions	38.665	-31.905	74.194
	line 31	Loan disbursements less loan repayments and sales	44.066	-27.560	11.201
	line 32	Deposit insurance	-5.099	-5.085	62.895
	line 33	Net purchases of foreign currency	0.000	0.000	0.000
	line 34	Other	-0.302	0.740	0.098
	line 35	Net purchases of nonproduced assets	0.004	-0.077	0.027
	line 36	Other	-19.235	-5.786	-13.738
	line 37	Less: Netting and grossing differences	-80.179	-83.326	-76.620
	line 38	Supplementary medical insurance premiums	-37.834	-37.880	-35.799
	line 39	Interest receipts	-16.038	-14.418	-12.166
	line 40	Current surplus of government enterprises	0.371	0.184	0.846
	line 41	Other	-26.677	-31.211	-29.501
	line 42	Plus: Timing differences	-4.282	23.147	68.021
	line 43	Purchases (increase in payables net of advances)	-12.837	-1.784	-10.593
	line 44	Interest payments	0.117	0.116	0.116
	line 45	Current transfer payments	17.644	15.474	83.468
	line 46	Other	-9.207	9.341	-4.969
	line 47	Equals: Federal government current expenditures NIPAs	1,810.006	1,793.724	1,665.234
		Net federal government saving
	line 48	Budget surplus or deficit	-711.708	-558.377	-508.443
	line 49	Plus: Net investment	20.577	20.165	18.095
	line 50	Less: Net capital transfers received	-56.741	-53.969	-32.713
	line 51	Less: Federal employee retirement plans	27.632	17.725	29.295
	line 52	Less: Other coverage differences	1.985	36.423	-61.720
	line 53	Less: Timing differences	-177.444	7.780	14.912
	line 54	Equals: Federal government saving national income and product accounts	-486.563	-546.171	-440.121