F.106 Federal Government            
 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 2016.2 1853.2 1879.9 2001.0 2246.7 2214.5 2240.3 2182.4 2349.8 2490.9 2559.4 1
2 Personal current taxes 994.5 830.5 774.5 801.4 927.9 891.2 910.9 941.0 968.4 1039.2 1067.2 2
3 Taxes on production and imports 85.8 87.3 89.7 94.6 101.1 97.9 102.7 102.4 101.6 101.1 102.4 3
4 Taxes on corporate income 164.7 150.5 197.8 244.5 326.4 327.6 321.4 309.5 347.1 374.3 395.4 4
5 Taxes from the rest of the world 7.1 7.3 8.9 9.7 10.8 11.3 9.3 11.4 11.4 10.4 11.0 5
6 Contributions for govt. social insurance 717.5 734.3 758.9 802.2 855.3 838.3 846.1 863.2 873.8 911.9 928.1 6
7 Income receipts on assets 24.9 20.2 22.9 22.1 22.9 22.8 23.8 22.8 22.3 23.3 23.9 7
8 Current transfer receipts 27.1 24.8 25.0 27.7 7.1 29.1 30.5 -61.7 30.6 32.2 32.8 8
9 Current surplus of government enterprises -5.5 -1.6 2.3 -1.2 -4.9 -3.7 -4.5 -6.0 -5.4 -1.4 -1.3 9
10 Current expenditures, NIPA basis 1969.5 2101.1 2252.1 2383.0 2555.9 2502.0 2529.9 2578.5 2613.3 2637.9 2686.6 10
11 Consumption expenditures 531.9 591.5 662.7 724.5 768.6 758.0 760.8 784.3 771.1 803.6 802.6 11
12 Government social benefits 841.4 919.6 966.5 1018.4 1081.7 1065.9 1076.4 1087.8 1096.7 1148.8 1166.4 12
13 Other current transfer payments 290.0 323.4 362.2 374.9 395.0 395.2 385.4 393.5 405.7 373.3 379.8 13
14 Interest payments 258.6 229.1 212.9 220.9 253.8 230.9 252.1 255.2 277.1 257.5 285.4 14
15 Subsidies 47.6 37.5 47.8 44.3 56.9 51.9 55.2 57.7 62.7 54.7 52.3 15
16 - 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 16
17 Net federal government saving, NIPA basis 46.7 -247.9 -372.1 -382.0 -309.2 -287.6 -289.6 -396.0 -263.6 -147.0 -127.2 17
18 + Consumption of fixed capital 88.2 88.9 90.4 94.1 99.0 97.5 98.2 99.8 100.7 102.4 103.7 18
19 - Insurance and pension reserves (1) 3.3 -1.7 -0.6 0.0 0.7 4.5 0.0 -3.7 1.9 4.0 -1.7 19
20 + Net capital transfers (2) -12.9 -23.1 -40.4 -38.4 -42.0 -47.7 -41.4 -40.4 -38.5 -43.2 -44.2 20
21 = Gross saving and net capital transfers 118.8 -180.5 -321.5 -326.4 -252.8 -242.3 -232.7 -333.0 -203.4 -91.7 -66.0 21
22 Gross investment 82.1 -173.8 -373.6 -330.3 -238.6 -434.3 -28.7 -269.4 -222.0 -446.7 233.8 22  
23 Fixed investment 81.0 88.1 93.7 101.4 109.8 104.8 107.6 111.5 115.1 118.2 117.3 23
24 Nonproduced nonfinancial assets -0.7 0.3 -0.2 0.0 -0.6 0.3 -0.6 -2.3 0.0 0.2 -2.3 24
25 Net financial investment 1.8 -262.2 -467.1 -431.7 -347.7 -539.4 -135.7 -378.6 -337.1 -565.1 118.9 25  
26 Net acq. of financial assets 55.2 24.8 33.9 -2.9 15.4 92.2 -33.6 -50.2 53.3 -3.5 61.3 26  
27 Gold, SDRs, and official foreign exchange 4.6 3.4 -1.8 -3.1 -14.4 -21.6 2.9 -19.4 -19.5 -2.3 1.9 27
28 Checkable deposits and currency 41.1 -17.1 9.2 -31.0 12.6 39.9 -31.1 -8.6 50.2 -67.3 75.6 28
29 Time and savings deposits 4.2 17.1 -25.2 0.0 -1.0 -0.1 -2.8 1.5 -2.5 0.4 0.2 29
30 Credit market instruments 6.0 9.5 -2.7 3.3 -2.7 0.9 -6.2 -6.3 0.8 7.3 9.4 30  
31 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31
32 Other loans and advances -6.0 -3.7 -1.5 -2.6 -8.8 -10.2 -9.3 -10.4 -5.3 -5.2 -0.8 32
33 Mortgages -1.1 0.5 -2.5 1.6 2.4 1.1 0.6 3.8 4.0 1.8 6.9 33
34 Consumer credit (3) 13.1 12.7 1.3 4.3 3.8 10.0 2.6 0.3 2.1 10.7 3.3 34
35 Trade receivables 7.3 -3.3 19.1 10.5 9.1 -6.4 16.2 18.8 7.8 -15.5 6.3 35
36 Taxes receivable -9.3 15.2 33.9 16.9 13.2 83.6 -11.4 -34.7 15.3 69.2 -33.0 36
37 Miscellaneous assets 1.3 0.0 1.4 0.6 -1.4 -4.1 -1.2 -1.5 1.2 4.7 0.9 37
38 Net increase in liabilities 53.4 286.9 501.0 428.8 363.2 631.7 102.2 328.4 390.4 561.5 -57.6 38  
39 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39
40 Treasury currency 1.3 1.0 0.6 0.7 0.8 0.8 1.1 0.9 0.3 0.6 0.8 40
41 Credit market instruments -5.6 257.6 396.0 361.9 306.9 569.7 25.1 263.9 368.9 531.5 -116.1 41  
42 Savings bonds 5.6 4.5 8.9 0.6 0.7 -0.2 0.3 -1.1 3.8 3.8 -2.7 42
43 Other Treasury securities -10.7 252.5 389.5 361.9 306.6 570.6 26.2 265.3 364.3 528.7 -113.7 43
44 Budget agency securities -0.5 0.5 -2.4 -0.6 -0.4 -0.7 -1.4 -0.4 0.8 -1.0 0.2 44
45 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45
46 Trade payables 3.4 0.8 72.6 14.8 12.4 15.1 15.4 15.4 3.9 7.9 20.2 46
47 Insurance reserves 1.4 1.6 1.1 1.1 1.1 0.0 1.7 0.3 2.6 0.3 2.2 47
48 Miscellaneous liabilities (4) 53.0 26.0 30.7 50.3 41.9 46.1 58.9 48.0 14.7 21.2 35.4 48  
49 Nonmarketable securities held by pension plans 60.8 24.5 24.7 40.9 40.0 42.1 33.8 40.9 43.1 32.5 18.7 49
50 Other -7.8 1.5 6.0 9.3 1.9 4.0 25.1 7.1 -28.4 -11.3 16.7 50
51 Discrepancy 36.7 -6.7 52.1 3.9 -14.2 192.0 -204.0 -63.6 18.6 355.0 -299.9 51
Memo:
52 Change in cash balance (5) 50.9 -1.6 -24.8 -3.1 4.6 21.0 -45.8 14.8 28.3 -59.4 62.2 52
 -1  Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves.                   
 -2 Table F.9, line 2.                    
 -3 Student loans.                    
 -4    Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, and foreign service retirement                 
  and disability fund.                    
 -5   Time and savings deposits (line 29) plus checkable deposit and currency liabilities of the monetary authority and commercial banking sectors (table F.204, lines 3 and 7).