Friday, March 27, 2020

US GDP for 2019 Updated

On March 26, 2020, usgovernmentspending.com updated its GDP series with the latest data from the Bureau of Economic Analysis, under "Supplemental Information and Data" including nominal GDP for calendar 2019 of $21.428 trillion and real GDP  for calendar 2019 of $19.073 trillion in 2012 dollars. Real GDP is now expressed in 2012 dollars. GDP for years going back to 2014 have been revised by BEA.

Usgovernmentspending.com uses the BEA GDP data series from 1929 to the present and measuringworth.com as its GDP source from 1790 to 1928.

Thursday, March 12, 2020

Agency Debt Update for 2019

On March 12, 2020, usgovernmentspending.com updated its data for agency debt from the Federal Reserve Board database. Data is now available for the period 1945-2019. You can see our Agency Debt page here, and a comparison with the official "on-the-books" debt here.

For the period 2020 to 2025 usgovernmentspending.com has "guesstimated" the agency debt, assuming that it increases at the same rate as it did in 2018 to 2019.

See "Federal 'Agency Debt' Added" for explanation of  data derivation.

Data is downloaded from the FRB data download page for "Financial Accounts of the United States (Z.1)" as follows.
  1. Select a preformatted data package: "L.211 (A) Agency- and GSE-Backed Securities, n.s.a."
  2. Click: Format package.
  3. Select: 100 years.
  4. Click: Go to Download.
  5. Click: Download File.

Monday, February 10, 2020

Federal Budget for FY21 Released

On February 10, 2020, we updated usgovernmentspending.com with the numbers from the historical tables in the Budget of the United States Government for Fiscal Year 2021. Actual revenue for FY 2019 and estimated revenue through FY 2025 come from Historical Tables 2.1, 2.4, and 2.5. Actual spending for FY 2019 and estimated spending at the subfunction level through FY 2025 come from Table 3.2. Budget Authority estimates come from Table 5.1, federal debt estimates come from Table 7.1 and GDP estimates come from Table 10.1. Intergovernmental transfers come from Table 12.3.

Here is how headline budget estimates for the upcoming FY 2021 fiscal year have changed since the release of the FY 2020 budget a year ago in Winter 2019.

FY 2020 Federal Budget Changes Since 2019
$ billionEstimate for 2020
in FY2020 Budget
Estimate for 2020
in FY2021 Budget
Change
Federal Outlays$4,745.6$4,789.8+$44.2
Federal Receipts$3,644.8$3,706.3+$61.5
Federal Deficit$1,100.8$1,083.4-$17.4

You can see line item changes from budget to budget here. You can compare budget estimates with actuals here.

Account level spending estimates through FY 2025 come from the Outlays table in the Public Budget Database and were updated on usgovernmentspending.com on February 10, 2020.

Account level budget authority estimates through FY 2025 come from the Budget Authority table in the Public Budget Database and were updated on usgovernmentspending.com on February 10, 2020.