| F.105 State and Local Governments, Excluding Employee Retirement Funds (1) | |||||||||||||
| Billions of dollars; quarterly figures are seasonally adjusted annual rates | |||||||||||||
| stock price direction | DOWN | DOWN | DOWN | UP | UP | UP | DOWN | UP | UP | UP | DOWN | ||
| bond price direction | UP | UP | UP | UP | DOWN | DOWN | UP | DOWN | DOWN | DOWN | DOWN | ||
| 2001 | 2002 | 2003 | 2004 | 2005 | 2005 | 2006 | |||||||
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | ||||||||
| 1 | Current receipts, NIPA basis | 1373.0 | 1410.1 | 1494.2 | 1592.6 | 1700.6 | 1672.2 | 1702.9 | 1697.8 | 1729.6 | 1755.4 | 1797.2 | 1 |
| 2 | Personal current taxes | 242.7 | 221.3 | 226.6 | 248.4 | 275.2 | 266.7 | 280.9 | 274.0 | 279.3 | 293.4 | 313.3 | 2 |
| 3 | Taxes on production and imports | 642.8 | 675.5 | 717.5 | 769.4 | 821.2 | 803.8 | 817.5 | 827.9 | 835.7 | 851.4 | 861.6 | 3 |
| 4 | Taxes on corporate income | 30.2 | 32.2 | 35.3 | 43.1 | 58.0 | 58.7 | 57.1 | 54.7 | 61.3 | 66.4 | 70.0 | 4 |
| 5 | Contributions for govt. social insurance | 13.6 | 15.8 | 19.8 | 24.2 | 25.3 | 25.3 | 25.3 | 25.3 | 25.2 | 24.8 | 24.7 | 5 |
| 6 | Income receipts on assets | 88.8 | 78.2 | 72.9 | 73.3 | 75.3 | 74.4 | 75.0 | 75.6 | 76.3 | 76.7 | 77.5 | 6 |
| 7 | Current transfer receipts | 350.8 | 384.7 | 422.7 | 438.0 | 456.1 | 448.7 | 453.8 | 462.0 | 459.8 | 450.5 | 458.3 | 7 |
| 8 | Current surplus of government enterprises | 4.0 | 2.5 | -0.6 | -3.8 | -10.5 | -5.4 | -6.8 | -21.7 | -7.9 | -7.8 | -8.2 | 8 |
| 9 | Current expenditures, NIPA basis | 1368.2 | 1444.3 | 1514.5 | 1605.5 | 1703.9 | 1661.2 | 1690.5 | 1717.2 | 1746.8 | 1742.7 | 1769.4 | 9 |
| 10 | Consumption expenditures | 969.8 | 1025.3 | 1073.8 | 1130.3 | 1207.2 | 1174.6 | 1192.8 | 1217.8 | 1243.4 | 1256.2 | 1280.7 | 10 |
| 11 | Govt. social benefit payments to persons | 305.2 | 332.0 | 353.0 | 382.9 | 402.3 | 393.4 | 403.8 | 404.5 | 407.3 | 390.4 | 391.7 | 11 |
| 12 | Interest payments | 85.5 | 86.0 | 87.7 | 91.8 | 94.2 | 92.8 | 93.5 | 94.5 | 95.8 | 95.8 | 96.6 | 12 |
| 13 | Subsidies | 7.7 | 0.9 | 0.1 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 13 |
| 14 | - Wage accruals less disbursements | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 14 |
| 15 | Net state and local govt. saving, NIPA basis | 4.8 | -34.2 | -20.4 | -12.9 | -3.3 | 10.9 | 12.4 | -19.3 | -17.2 | 12.7 | 27.8 | 15 |
| 16 | + Consumption of fixed capital | 117.8 | 122.7 | 127.8 | 136.7 | 153.2 | 144.7 | 147.9 | 165.9 | 154.3 | 156.7 | 159.2 | 16 |
| 17 | + Net capital transfers (2) | 48.6 | 52.1 | 51.6 | 51.9 | 53.9 | 52.3 | 55.2 | 54.4 | 53.8 | 55.6 | 56.1 | 17 |
| 18 | = Gross saving and net capital transfers | 171.1 | 140.7 | 159.0 | 175.7 | 203.8 | 207.9 | 215.5 | 201.0 | 190.9 | 225.0 | 243.1 | 18 |
| 19 | Gross investment | 217.0 | 171.4 | 192.4 | 224.8 | 231.0 | 264.5 | 200.0 | 236.0 | 223.7 | 248.4 | 262.4 | 19 |
| 20 | Fixed investment | 243.0 | 256.1 | 262.2 | 270.0 | 287.3 | 278.7 | 287.7 | 288.7 | 294.0 | 301.7 | 314.2 | 20 |
| 21 | Nonproduced nonfinancial assets | 9.2 | 10.6 | 10.9 | 11.0 | 11.6 | 11.3 | 11.5 | 11.6 | 11.8 | 12.0 | 12.2 | 21 |
| 22 | Net financial investment | -35.3 | -95.4 | -80.7 | -56.2 | -67.8 | -25.6 | -99.1 | -64.4 | -82.1 | -65.3 | -63.9 | 22 |
| 23 | Net acq. of financial assets | 97.3 | 76.9 | 68.7 | 89.9 | 137.0 | 173.1 | 61.0 | 185.7 | 128.1 | 34.9 | 95.8 | 23 |
| 24 | Checkable deposits and currency | 4.0 | 5.2 | 3.5 | -4.6 | 9.8 | 40.4 | 8.8 | -34.8 | 24.7 | -7.9 | 14.4 | 24 |
| 25 | Time and savings deposits | 12.0 | 8.8 | 8.0 | 6.9 | 29.0 | 60.2 | -1.1 | 29.1 | 28.0 | 16.1 | 6.9 | 25 |
| 26 | Money market fund shares | 3.2 | 1.6 | 3.6 | 3.2 | 2.4 | 3.1 | -1.0 | 4.2 | 3.2 | 5.9 | 2.5 | 26 |
| 27 | Security RPs | -11.1 | -16.4 | 7.2 | 6.4 | 4.7 | 6.2 | -1.9 | 8.3 | 6.4 | 11.6 | 4.9 | 27 |
| 28 | Credit market instruments | 93.4 | 86.5 | 52.5 | 61.8 | 97.4 | 120.9 | 62.8 | 129.3 | 76.4 | 66.7 | 53.3 | 28 |
| 29 | Open market paper | 17.4 | 14.4 | 9.4 | 8.3 | 6.2 | 8.1 | -2.5 | 10.9 | 8.4 | 15.2 | 6.4 | 29 |
| 30 | Treasury securities | 18.3 | 26.3 | 8.3 | 22.6 | 68.1 | 82.7 | 74.7 | 78.1 | 37.0 | 11.2 | 23.1 | 30 |
| 31 | Agency- and GSE-backed securities | 47.2 | 41.9 | 20.4 | 18.1 | 13.5 | 17.6 | -5.5 | 23.6 | 18.2 | 21.0 | 13.9 | 31 |
| 32 | Municipal securities | 0.2 | 0.1 | 0.3 | 0.2 | 0.2 | 0.2 | -0.1 | 0.3 | 0.2 | 0.4 | 0.2 | 32 |
| 33 | Corporate and foreign bonds | 11.2 | 9.1 | 6.5 | 5.7 | 4.3 | 5.6 | -1.7 | 7.5 | 5.8 | 6.5 | 4.4 | 33 |
| 34 | Mortgages | -1.0 | -5.4 | 7.7 | 6.8 | 5.1 | 6.7 | -2.1 | 8.9 | 6.9 | 12.5 | 5.3 | 34 |
| 35 | Corporate equities | 4.0 | 10.3 | -17.5 | -5.0 | -0.9 | 14.1 | -8.7 | -6.8 | -2.4 | -15.9 | 12.0 | 35 |
| 36 | Mutual fund shares | 0.4 | 2.1 | -5.4 | -1.5 | -0.3 | 4.3 | -2.7 | -2.1 | -0.7 | -4.9 | 3.7 | 36 |
| 37 | Trade receivables | 5.9 | 2.6 | 7.4 | 6.5 | 4.9 | 6.3 | -2.0 | 8.5 | 6.6 | 11.9 | 5.0 | 37 |
| 38 | Taxes receivable | 3.7 | 4.8 | 7.8 | 25.3 | 42.8 | 40.4 | 42.4 | 40.2 | 48.0 | 51.1 | 52.8 | 38 |
| 39 | Miscellaneous assets | -18.2 | -28.5 | 1.6 | -9.0 | -52.8 | -123.0 | -35.8 | 9.7 | -62.1 | -99.8 | -59.6 | 39 |
| 40 | Net increase in liabilities | 132.5 | 172.3 | 149.4 | 146.1 | 204.8 | 198.7 | 160.1 | 250.1 | 210.2 | 100.1 | 159.7 | 40 |
| 41 | Credit market instruments | 105.7 | 143.9 | 120.3 | 115.3 | 171.5 | 166.5 | 127.2 | 216.5 | 175.7 | 65.0 | 123.4 | 41 |
| 42 | Municipal securities | 105.4 | 143.4 | 120.0 | 115.1 | 171.0 | 166.2 | 126.8 | 215.9 | 175.1 | 64.3 | 122.6 | 42 |
| 43 | Short-term | 23.8 | 25.2 | 10.4 | -5.9 | 5.7 | 4.5 | -20.7 | 12.8 | 26.3 | 0.3 | -8.2 | 43 |
| 44 | Other | 81.6 | 118.2 | 109.6 | 121.0 | 165.3 | 161.7 | 147.5 | 203.1 | 148.7 | 64.1 | 130.9 | 44 |
| 45 | U.S. government loans | 0.2 | 0.5 | 0.3 | 0.2 | 0.5 | 0.3 | 0.4 | 0.6 | 0.6 | 0.6 | 0.7 | 45 |
| 46 | Trade payables | 26.9 | 28.4 | 29.2 | 30.8 | 33.3 | 32.2 | 32.9 | 33.6 | 34.6 | 35.2 | 36.4 | 46 |
| 47 | Discrepancy | -45.8 | -30.7 | -33.4 | -49.1 | -27.2 | -56.5 | 15.5 | -35.0 | -32.8 | -23.4 | -19.3 | 47 |
| -1 Data for retirement funds are shown in table F.119. | |||||||||||||
| -2 Table F.9, line 8. | |||||||||||||
