ed
o
rg
ba
Em
Summary Tables
il
nt
U
9
ay
,M
PM
22
23
ed
o
rg
ba
Em
il
nt
U
9
ay
,M
PM
22
585
14,168
18,407
17.8%
20.9%
3.2%
77.0%
Debt held by the public .......................
Gross domestic product (GDP) ...............
Budget Totals as a Percent of GDP:
Receipts ...............................................
Outlays ................................................
Deficit/surplus (–) ............................
Debt held by the public .......................
603
77.4%
18.1%
21.2%
3.1%
19,162
14,824
22
Deficit/surplus (–) ............................
3,460
4,062
ay
3,814
4,340
526
15,957
20,947
18.2%
20.7%
2.5%
76.2%
3,654
4,094
440
15,353
20,014
18.3%
20.5%
2.2%
76.7%
,M
PM
3,268
3,853
9
Budget Totals in Billions of Dollars:
Receipts ...............................................
Outlays ................................................
18.1%
20.3%
2.2%
21,981
16,509
488
3,982
4,470
2020
75.1%
il
2019
nt
23,093
17,024
456
4,161
4,617
2021
73.7%
18.0%
20.0%
2.0%
U
2018
17,517
442
4,390
4,832
2022
72.2%
18.1%
19.9%
1.8%
24,261
ed
2017
o
rg
2024
209
18,150
319
17,887
70.2%
18.1%
19.4%
1.3%
25,489
67.8%
18.2%
18.9%
0.8%
26,779
4,864
5,073
4,615
4,933
2023
ba
2016
Table S–1. Budget Totals
Em
(In billions of dollars and as a percent of GDP)
65.3%
18.2%
18.9%
0.6%
28,134
18,379
176
5,130
5,306
2025
62.7%
18.3%
18.7%
0.4%
29,557
18,541
110
5,417
5,527
2026
59.8%
18.4%
18.4%
-0.1%
31,053
18,575
-16
5,724
5,708
2027
18.1%
20.3%
2.1%
2,351
20,001
22,353
20182022
18.2%
19.6%
1.4%
3,150
45,751
48,901
20182027
Totals
THE BUDGET FOR FISCAL YEAR 2018
25
605
3.2%
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
585
3.2%
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
–5
1
–3
.........
.........
.........
.........
.........
.........
.........
Debt service and indirect interest effects ...........................................
Total proposals in the 2018 Budget .........................................
Effect of economic feedback .....................................................................
Total deficit reduction in the 2018 Budget .....................................
27
–2
29
*
–15
–2
25
42
–2
–9
–4
–0
–1
–4
–*
1
–7
4
.........
1
25
5
413
2.1%
2018
–28
–24
–3
*
–49
–16
–13
52
–3
–16
–7
–1
–1
–1
–3
2
–12
10
–2
1
30
25
553
2.7%
2019
–159
–63
–96
–1
–81
–33
–63
52
–10
–23
–11
–2
–2
–3
–4
2
–16
–32
–3
2
–288
–102
–185
–5
–112
–51
–113
50
–20
–25
–13
–3
–2
–4
–4
3
–17
–67
–3
2
–30
50
743
3.3%
647
3.0%
–5
40
2021
2020
–440
–153
–287
–12
–133
–69
–152
49
–40
–30
–15
–5
–3
–6
–4
3
–26
–122
–4
2
–35
40
881
3.8%
2022
–607
–213
–394
–24
–156
–77
–185
48
–60
–33
–17
–5
–5
–7
–4
4
–35
–185
–4
2
–40
20
925
3.8%
2023
2025
2026
2027
2018- 20182022 2027
–747
–267
–480
–38
–179
–82
–214
47
–80
–33
–18
–10
–8
–8
–4
4
–38
–228
–4
2
–40
10
–408
–715
–76
–226
–87
–271
43
–130
–35
–19
–38
–17
–10
–5
4
–71
–369
–4
2
–50
5
–496
–858
–101
–251
–90
–299
41
–165
–34
–20
–58
–22
–11
–5
4
–89
–458
–5
2
–55
.........
–906 –1,124 –1,354
–333
–573
–55
–202
–85
–243
45
–105
–34
–19
–21
–12
–9
–5
4
–27
–276
–4
2
–50
5
–35
19
–250
200
469
–311
–887 –5,625
–345 –2,062
–542 –3,563
–18
–390 –1,404
–171 –593
–316 –1,528
245
–76 –616
–102 –272
–50 –143
–10 –142
–9
–72
–17
–63
–15
–38
11
29
–79 –339
–208 –1,723
–13
7
–15
160
956 1,082 1,234 1,338 3,238 8,775
3.8% 4.1% 4.5% 4.7%
2024
Totals
Resulting deficit/surplus (–) in the 2018 Budget ...........................
585
603
440
526
488
456
442
319
209
176
110
–16 2,351 3,150
Percent of GDP .....................................................................................
3.2% 3.1% 2.2% 2.5% 2.2% 2.0% 1.8% 1.3% 0.8% 0.6% 0.4% –0.1%
* $500 million or less
1
Reductions associated with OCO are relative to the BBEDCA baseline and are based on notional placeholder amounts that are consistent with a potential transition of
certain OCO costs into the base budget while continuing to fund contingency operations. The placeholder amounts do not reflect specific decisions or assumptions about
OCO funding in any particular year.
–3
*
–3
–*
2
22
.........
ay
Reprioritize discretionary spending:
Eliminate the defense sequester and raise the cap on defense
discretionary spending .................................................................
Reorganize Government and apply two-penny plan to non-defense
discretionary spending .................................................................
Phase down the use of Overseas Contingency Operations funding 1 ....
Total, reprioritize discretionary spending ..................................
,M
PM
Proposals in the 2018 Budget:
Major initiatives:
Repeal and replace Obamacare .......................................................
Support $1 trillion in private/public infrastructure investment ...
Reform financial regulation and prevent taxpayer-funded bailouts ...............................................................................................
Establish a paid parental leave program .......................................
Reform Medicaid and the Children’s Health Insurance Program
(CHIP) ...........................................................................................
Reform the welfare system ..............................................................
Reform Federal student loans .........................................................
Reduce improper payments Government-wide ..............................
Reform disability programs .............................................................
Reform retirement benefits for Federal employees ........................
Limit Farm Bill subsidies and make other agricultural reforms ..
Extend the current Veterans Choice program ................................
Other spending reductions and program reforms ..........................
Total, major initiatives .................................................................
Projected deficits in the pre-policy baseline .................................
Percent of GDP .....................................................................................
9
2017
il
nt
U
2016
ed
o
rg
ba
Em
(Deficit increases (+) or decreases (-) in billions of dollars)
Table S–2. Effect of Budget Proposals on Projected Deficits
26
SUMMARY TABLES
585
240
345
620
–36
Net interest ..............................................................................
Primary deficit .........................................................................
On-budget deficit ......................................................................
Off-budget deficit/surplus (–) ...................................................
1,660
324
1,281
854
507
717
3,359
542
5,224
1,207
757
480
670
3,114
487
4,905
1,138
701
454
643
2,936
431
4,643
1,070
646
432
626
2,774
372
4,398
1,005
582
408
589
2,583
316
4,118
946
593
378
656
2,573
276
4,065
910
588
368
560
2,427
240
3,853
1,546
300
665
659
1,323
653
650
1,303
640
637
1,277
623
629
1,251
600
618
1,219
592
624
1,215
585
600
1,185
Deficit ..........................................................................................
22
810
247
49
9
95
21
35
116
40
3,268
ay
647
–42
276
329
605
857
258
49
10
87
23
34
97
60
3,460
,M
PM
Receipts:
Individual income taxes ...........................................................
Corporation income taxes ........................................................
Social insurance and retirement receipts:
Social Security payroll taxes ..............................................
Medicare payroll taxes ........................................................
Unemployment insurance ....................................................
Other retirement ..................................................................
Excise taxes ..............................................................................
Estate and gift taxes ................................................................
Customs duties .........................................................................
Deposits of earnings, Federal Reserve System .......................
Other miscellaneous receipts ..................................................
Total receipts ........................................................................
Outlays:
Discretionary programs:
Defense ................................................................................
Non-defense .........................................................................
Subtotal, discretionary programs ....................................
Mandatory programs:
Social Security ......................................................................
Medicare ...............................................................................
Medicaid ...............................................................................
Other mandatory programs .................................................
Subtotal, mandatory programs .......................................
Net interest ..............................................................................
Total outlays .........................................................................
2022
2021
2020
2019
436
–25
316
95
411
892
270
50
10
106
24
40
70
54
3,707
1,836
355
9
2018
il
533
–4
372
157
529
931
283
49
11
107
26
42
56
56
3,869
1,934
375
nt
U
2017
564
20
431
153
584
972
297
49
11
110
28
43
49
57
4,059
2,042
401
ed
612
29
487
154
641
1,027
315
50
12
114
29
44
51
58
4,264
2,165
400
o
rg
682
47
542
187
728
1,081
332
51
12
116
31
46
60
60
4,495
2,291
414
ba
640
72
592
121
713
1,133
348
52
13
119
33
50
70
61
4,730
2,425
425
1,362
885
537
719
3,503
592
5,443
676
672
1,348
2023
Em
2016
(In billions of dollars)
Table S–3. Baseline by Category 1
593
97
634
55
689
1,191
367
53
13
123
36
53
78
64
4,984
2,568
439
1,448
913
570
726
3,656
634
5,673
695
688
1,384
2024
627
122
670
79
749
1,251
386
54
14
127
38
56
86
65
5,251
2,719
455
1,537
1,012
604
759
3,912
670
6,000
713
705
1,418
2025
681
145
706
120
826
1,316
407
56
15
131
40
60
91
67
5,538
2,880
475
1,630
1,106
648
821
4,205
706
6,364
732
722
1,453
2026
668
174
741
101
842
1,379
427
57
16
136
43
65
98
69
5,844
3,058
497
1,728
1,195
688
846
4,457
741
6,687
750
739
1,488
2027
2,826
68
2,147
746
2,894
4,903
1,497
248
56
553
139
214
286
284
20,394
10,268
1,945
5,702
3,541
2,280
3,244
14,767
2,147
23,287
3,181
3,193
6,373
20182022
6,035
678
5,489
1,224
6,712
11,173
3,432
519
127
1,189
328
499
709
610
46,741
23,918
4,235
13,406
8,650
5,328
7,115
34,500
5,489
53,453
6,747
6,718
13,464
20182027
Totals
THE BUDGET FOR FISCAL YEAR 2018
27
607
560
1,167
2021
661
589
1,250
2020
645
575
1,221
2019
630
562
1,192
2018
616
548
1,164
2017
616
551
1,167
ed
il
nt
U
9
ay
,M
PM
22
677
604
1,281
2022
694
619
1,313
2023
711
634
1,346
2024
729
650
1,379
2025
747
667
1,414
2026
765
683
1,449
2027
3,229
2,879
6,108
20182022
6,875
6,133
13,008
20182027
Totals
Memorandum, totals with pre-policy economic assumptions:
Receipts .................................................................................... 3,268 3,467 3,707 3,838 3,991 4,151 4,330 4,505 4,703 4,902 5,116 5,339 20,017 44,581
Outlays ..................................................................................... 3,853 4,072 4,120 4,392 4,638 4,894 5,211 5,431 5,659 5,984 6,350 6,678 23,255 53,356
Deficit ....................................................................................
585
605
413
553
647
743
881
925
956 1,082 1,234 1,338
3,238
8,775
1
Baseline estimates are on the basis of the economic assumptions shown in Table S-9, which incorporate the effects of the Administration’s fiscal policies. Baseline totals
reflecting current-law economic assumptions are shown in a memorandum bank.
Memorandum, budget authority for discretionary
programs:
Defense ....................................................................................
Non-defense .............................................................................
Total, discretionary budget authority .................................
2016
o
rg
ba
Em
(In billions of dollars)
Table S–3. Baseline by Category 1—Continued
28
SUMMARY TABLES
.........
3,268
585
240
345
620
–36
Deficit/surplus (–) .............................................
Net interest ......................................................
Primary deficit/surplus (–) ...............................
On-budget deficit/surplus (–) ...........................
Off-budget deficit/surplus (–) ...........................
810
247
49
9
95
21
35
116
40
1,546
300
22
Receipts:
Individual income taxes ...................................
Corporation income taxes ................................
Social insurance and retirement receipts:
Social Security payroll taxes ......................
Medicare payroll taxes ................................
Unemployment insurance ............................
Other retirement ..........................................
Excise taxes ......................................................
Estate and gift taxes ........................................
Customs duties .................................................
Deposits of earnings, Federal Reserve System ...
Other miscellaneous receipts ..........................
Allowance for Obamacare repeal and
replacement ..................................................
Total receipts ................................................
.........
.........
2,427
240
3,853
910
588
368
560
585
600
1,185
ay
643
601
1,244
1,005
582
404
570
–30
5
2,535
315
4,094
594
619
1,213
946
593
378
656
.........
.........
2,573
276
4,062
644
–42
276
326
603
466
–25
315
125
440
–55
3,654
892
270
50
12
106
24
40
70
54
857
258
49
10
87
23
34
97
60
.........
3,460
1,836
355
1,660
324
,M
PM
Outlays:
Discretionary programs:
Defense .........................................................
Non-defense ..................................................
Subtotal, discretionary programs ............
Mandatory programs:
Social Security ..............................................
Medicare .......................................................
Medicaid .......................................................
Other mandatory programs .........................
Allowance for Obamacare repeal and
replacement ..............................................
Allowance for infrastructure initiative .......
Subtotal, mandatory programs ...............
Net interest ......................................................
Total outlays .................................................
–30
25
2,736
371
4,340
1,070
646
423
603
665
567
1,232
2019
534
–8
371
155
526
–60
3,814
931
283
49
14
107
26
42
56
55
1,935
375
9
2018
il
2022
662
485
1,148
1,279
851
467
658
667
506
1,173
1,205
756
460
622
–130
50
2,963
481
4,617
1,137
700
439
609
–90
40
2,835
428
4,470
2021
670
537
1,207
2020
472
16
428
60
488
–85
3,982
972
297
50
16
110
28
43
50
57
2,044
401
nt
U
2017
431
25
481
–25
456
–100
4,161
1,027
315
53
18
99
29
44
52
57
2,167
400
ed
399
42
528
–87
442
–105
4,390
1,081
332
55
20
101
31
46
61
59
2,293
414
–140
40
3,156
528
4,832
o
rg
2016
251
68
567
–249
319
–115
4,615
1,133
348
54
22
104
33
50
71
61
2,428
425
–155
20
3,237
567
4,933
1,360
882
477
653
665
464
1,129
2023
ba
Em
(In billions of dollars)
Table S–4. Proposed Budget by Category
117
92
595
–386
209
–120
4,864
1,191
367
56
23
106
36
53
78
63
2,572
439
–160
10
3,345
595
5,073
1,446
910
490
649
679
455
1,134
2024
59
117
613
–438
176
–120
5,130
1,251
386
56
24
109
38
56
87
64
2,723
455
–170
5
3,553
613
5,306
1,535
1,017
499
667
693
446
1,139
2025
–30
140
629
–518
110
–120
5,417
1,316
407
59
25
113
40
60
92
66
2,884
475
–170
5
3,754
629
5,527
1,628
1,085
518
687
708
437
1,145
2026
20182027
5,696 13,392
3,535 8,594
2,193 4,701
3,062 6,396
3,307 6,774
2,696 4,927
6,003 11,701
20182022
4,903 11,173
1,497 3,432
257
543
80
199
524 1,072
139
328
214
499
290
717
282
606
–185
169
639
–654
–16
3,150
2,301
50
2,514
636
2,123 5,166
228 –2,017
2,351
–120
–405 –1,000
5,724 20,001 45,751
1,379
427
62
26
117
43
65
99
69
3,062 10,275 23,945
497 1,946 4,236
–175
–420 –1,250
.........
160
200
3,919 14,226 32,033
639 2,123 5,166
5,708 22,353 48,901
1,725
1,166
524
678
722
429
1,151
2027
Totals
THE BUDGET FOR FISCAL YEAR 2018
29
22
607
560
1,167
ay
646
536
1,182
668
479
1,147
,M
PM
Memorandum, budget authority for discretionary programs:
Defense .........................................................
Non-defense ..................................................
Total, discretionary funding ....................
2018
668
464
1,132
2019
9
2017
il
668
450
1,118
2020
nt
U
2016
666
428
1,094
2021
ed
665
419
1,084
2022
o
rg
679
410
1,089
2023
ba
Em
(In billions of dollars)
693
402
1,095
2024
Table S–4. Proposed Budget by Category—Continued
707
394
1,101
2025
722
386
1,108
2026
737
378
1,115
2027
20182027
3,335 6,873
2,239 4,209
5,574 11,081
20182022
Totals
30
SUMMARY TABLES
3.1
3.2
6.3
4.9
3.1
2.0
3.4
.........
.........
13.4
1.4
21.2
8.7
1.7
4.5
1.3
0.3
0.1
0.5
0.1
0.2
0.5
0.3
.........
18.1
4.9
3.2
2.0
3.0
.........
.........
13.2
1.3
20.9
8.4
1.6
4.4
1.3
0.3
0.1
0.5
0.1
0.2
0.6
0.2
.........
17.8
3.2
1.3
1.9
3.4
–0.2
Deficit/surplus (–) ................................................................
Net interest .........................................................................
Primary deficit/surplus (–) ..................................................
On-budget deficit/surplus (–) ..............................................
Off-budget deficit/surplus (–) ..............................................
22
Receipts:
Individual income taxes ......................................................
Corporation income taxes ...................................................
Social insurance and retirement receipts:
Social Security payroll taxes .........................................
Medicare payroll taxes ...................................................
Unemployment insurance ...............................................
Other retirement .............................................................
Excise taxes .........................................................................
Estate and gift taxes ...........................................................
Customs duties ....................................................................
Deposits of earnings, Federal Reserve System ..................
Other miscellaneous receipts .............................................
Allowance for Obamacare repeal and replacement ...........
Total receipts ...................................................................
ay
3.4
–0.2
1.4
1.7
3.1
,M
PM
3.2
3.3
6.4
3.2
3.0
6.2
2.3
–0.1
1.6
0.6
2.2
4.5
1.4
0.2
0.1
0.5
0.1
0.2
0.4
0.3
–0.3
18.3
9.2
1.8
5.0
2.9
2.0
2.8
–0.1
*
12.7
1.6
20.5
9
Outlays:
Discretionary programs:
Defense ............................................................................
Non-defense .....................................................................
Subtotal, discretionary programs ...............................
Mandatory programs:
Social Security .................................................................
Medicare ..........................................................................
Medicaid ..........................................................................
Other mandatory programs ............................................
Allowance for Obamacare repeal and replacement .......
Allowance for infrastructure initiative ..........................
Subtotal, mandatory programs ..................................
Net interest .........................................................................
Total outlays ....................................................................
2018
il
2.5
–*
1.8
0.7
2.5
4.4
1.4
0.2
0.1
0.5
0.1
0.2
0.3
0.3
–0.3
18.2
9.2
1.8
5.1
3.1
2.0
2.9
–0.1
0.1
13.1
1.8
20.7
3.2
2.7
5.9
2019
nt
U
2017
2.1
0.1
1.9
0.3
2.2
4.4
1.4
0.2
0.1
0.5
0.1
0.2
0.2
0.3
–0.4
18.1
9.3
1.8
5.2
3.2
2.0
2.8
–0.4
0.2
12.9
1.9
20.3
3.0
2.4
5.5
2020
ed
2022
5.3
3.5
1.9
2.7
–0.6
0.2
13.0
2.2
19.9
5.2
3.3
2.0
2.7
–0.6
0.2
12.8
2.1
20.0
1.9
0.1
2.1
–0.1
2.0
4.4
1.4
0.2
0.1
0.4
0.1
0.2
0.2
0.2
–0.4
18.0
9.4
1.7
1.6
0.2
2.2
–0.4
1.8
4.5
1.4
0.2
0.1
0.4
0.1
0.2
0.3
0.2
–0.4
18.1
9.5
1.7
2.7
2.0
4.7
2.9
2.2
5.1
2021
o
rg
2016
ba
1.0
0.3
2.2
–1.0
1.3
4.4
1.4
0.2
0.1
0.4
0.1
0.2
0.3
0.2
–0.5
18.1
9.5
1.7
5.3
3.5
1.9
2.6
–0.6
0.1
12.7
2.2
19.4
2.6
1.8
4.4
2023
Em
(As a percent of GDP)
0.4
0.3
2.2
–1.4
0.8
4.4
1.4
0.2
0.1
0.4
0.1
0.2
0.3
0.2
–0.4
18.2
9.6
1.6
5.4
3.4
1.8
2.4
–0.6
*
12.5
2.2
18.9
2.5
1.7
4.2
2024
0.2
0.4
2.2
–1.6
0.6
4.4
1.4
0.2
0.1
0.4
0.1
0.2
0.3
0.2
–0.4
18.2
9.7
1.6
5.5
3.6
1.8
2.4
–0.6
*
12.6
2.2
18.9
2.5
1.6
4.0
2025
Table S–5. Proposed Budget by Category as a Percent of GDP
–0.1
0.5
2.1
–1.8
0.4
4.5
1.4
0.2
0.1
0.4
0.1
0.2
0.3
0.2
–0.4
18.3
9.8
1.6
5.5
3.7
1.8
2.3
–0.6
*
12.7
2.1
18.7
2.4
1.5
3.9
2026
–0.6
0.5
2.1
–2.1
–0.1
4.4
1.4
0.2
0.1
0.4
0.1
0.2
0.3
0.2
–0.4
18.4
9.9
1.6
5.6
3.8
1.7
2.2
–0.6
.........
12.6
2.1
18.4
2.3
1.4
3.7
2027
2.1
*
1.9
0.2
2.1
4.4
1.4
0.2
0.1
0.5
0.1
0.2
0.3
0.3
–0.4
18.1
9.3
1.8
5.2
3.2
2.0
2.8
–0.4
0.1
12.9
1.9
20.3
3.0
2.5
5.5
1.1
0.2
2.0
–0.7
1.4
4.4
1.4
0.2
0.1
0.4
0.1
0.2
0.3
0.2
–0.4
18.2
9.5
1.7
5.3
3.4
1.9
2.6
–0.5
0.1
12.8
2.0
19.6
2.7
2.0
4.8
2018- 20182022 2027
Totals
THE BUDGET FOR FISCAL YEAR 2018
31
22
*0.05 percent of GDP or less.
ay
3.3
3.0
6.3
3.4
2.8
6.2
,M
PM
Memorandum, budget authority for discretionary
programs:
Defense ............................................................................
Non-defense .....................................................................
Total, discretionary funding .......................................
3.3
2.4
5.7
2018
9
2017
il
3.2
2.2
5.4
2019
nt
U
2016
3.0
2.0
5.1
2020
ed
2.9
1.9
4.7
2021
o
rg
2.7
1.7
4.5
2022
ba
2.7
1.6
4.3
2023
Em
(As a percent of GDP)
2.6
1.5
4.1
2024
2.5
1.4
3.9
2025
2.4
1.3
3.7
2026
Table S–5. Proposed Budget by Category as a Percent of GDP—Continued
2.4
1.2
3.6
2027
3.0
2.0
5.1
2.8
1.7
4.5
2018- 20182022 2027
Totals
32
SUMMARY TABLES
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
–34
–1,212
–210
–304
–3,372
–660
–20
.........
.........
–84
–111
–267
.........
–20
–30
–60
–72
–30
–154
–4,392
–6
–474
–443
81
–81
–4,038
–500
.........
–610
.........
.........
.........
.........
.........
.........
322
–5,317
–3,098
–2,179
–158
–4,592
–136
–20
–49
–1,314
–319
–339
–3,900
.........
327
–6,830
–3,791
–2,679
–159
–4,929
–140
–20
–30
–20
–660
.........
332
–8,141
–4,199
–3,030
.........
–4,873
–142
–20
–30
–20
–660
–1,325
–402
–335
–4,001
–42
–45
–40
–64
–67
–71
.........
338
–9,060
–4,499
–3,263
.........
–5,055
–137
–20
–30
–20
–660
–1,335
–560
–335
–4,188
.........
–5,453
–139
–20
–30
–20
–660
–1,365
–886
–335
–4,584
–53
–60
–1,885
2025
.........
–5,666
–139
–20
–30
–20
–660
–1,378
–1,072
–335
–4,797
–58
–56
–1,897
2026
–151
–353
–6,813
20182022
–685
–100
–150
–100
–2,640
.........
–477
–5,865 –19,260
–139
–20
–30
–20
–660
–1,390 –5,103
–1,234 –1,287
–335 –1,402
–4,996 –15,108
–64
–53
–1,920
2027
.........
344
.........
350
.........
356
.........
361
–443
1,376
–9,972 –10,394 –10,726 –10,946 –25,306
–4,744 –4,960 –5,145 –5,228 –14,297
–3,493 –3,575 –3,491 –3,436 –10,213
.........
–5,241
–138
–20
–30
–20
–660
–1,353
–716
–335
–4,373
–1,856
–73
–1,845
–1,826
2024
–1,815
2023
2022
2021
–443
3,125
–76,404
–38,873
–27,471
–477
–46,540
–1,377
–200
–300
–200
–5,940
–11,924
–5,755
–3,077
–38,046
–420
–653
–16,218
20182027
Totals
–900
–500
.........
–1,095
–552
–381
–660
–1,390
–381
–725
–1,426
–382
–235
–1,489
–382
–50
–1,519
–382
–50
–1,549
–382
–50
–3,793
–382
–50
–3,868
–382
–3,990
–4,368
–1,144
–4,425
–16,586
–3,054
–314
–322
–327
–332
–338
–344
–350
–356
–361 –1,376
–3,125
–6,956 –10,594 –13,300 –15,370 –16,823 –18,209 –18,930 –19,362 –19,609 –50,259 –143,192
.........
314
–3,333
–2,157
–1,466
–136
–131
–1,685
–1,052
–859
–20
–20
–30
–20
–660
–1,251
–272
–313
–3,568
–35
–77
–1,620
–1,552
.........
.........
.........
.........
.........
.........
ay
,M
PM
22
Agriculture:
Farm Bill savings:
Limit crop insurance premium subsidy to
$40,000 .......................................................
Limit eligiblity for agricultural commodity
payments to $500,000 Adjusted Gross
Income (AGI) ..............................................
Limit Crop Insurance eligiblity to $500,000
AGI ..............................................................
Eliminate Harvest Price Option for Crop
Insurance ....................................................
Streamline conservation programs ...............
Eliminate small programs .............................
Total Farm Bill savings ..............................
Establish Food Safety and Inspection Service
(FSIS) user fee ................................................
Establish Animal Plant and Health Inspection
Service (APHIS) user fee ...............................
Establish Grain Inspection, Packers, and Stockyards Administration (GIPSA) user fee ...........
Establish Agricultural Marketing Service
(AMS) user fee ................................................
Eliminate interest payments to electric &
telecommunications utilities .........................
Eliminate the Rural Economic Development
Program ..........................................................
Total, Agriculture ...........................................
Education:
Create single income-driven student loan
repayment plan 1 ............................................
Eliminate subsidized student loans ..................
Eliminate Public Service Loan Forgiveness .....
Eliminate account maintenance fee payments
to guaranty agencies ......................................
Support Year-Round Pell grants ........................
Reallocate mandatory Pell funding to support
Year-Round Pell Grants .................................
Total, Education .............................................
Energy:
Reduce Strategic Petroleum Reserve by half ....
Restart Nuclear Waste Fund Fee in 2020 .........
Repeal borrowing authority for Western Area
Power Administration (WAPA) ......................
2020
9
2019
il
nt
U
2018
ed
2017
ba
Em
o
rg
(Deficit increases (+) or decreases (-) in millions of dollars)
Table S–6. Mandatory and Receipt Proposals
THE BUDGET FOR FISCAL YEAR 2018
33
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
–3,365
.........
127
.........
.........
.........
–2,359
.........
127
.........
.........
–20
22
18
1
16
180
18
3
3
–584
.........
.........
.........
.........
.........
.........
60
45
828
88
32
266
112
4
60
3,346
248
–35
–122
–22
–110
1,439
62
–396
–2,424
.........
.........
–386
–2,817
.........
.........
2021
–386
–2,919
.........
.........
2022
2024
.........
.........
–386
–2,337
.........
.........
–386
–2,492
2023
–386
–2,367
.........
.........
2025
–386
–4,611
.........
.........
2026
–13
–580
20182022
–386 –2,989
–4,686 –13,084
.........
.........
2027
–4,919
–29,576
–13
–580
20182027
Totals
.........
127
.........
159
54
6
30
268
1
.........
254
56
23
–68
–121
.........
13
.........
127
.........
10
2
8
68
.........
.........
.........
16
23
–85
–136
.........
2
.........
127
.........
.........
1
.........
4
20
.........
.........
.........
6
23
–86
–43
.........
–3
1,040
127
.........
.........
5
.........
2
.........
.........
.........
.........
.........
23
–87
–48
.........
–3
1,471
127
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
23
–90
–55
.........
–5
1,583
127
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
23
–90
–36
.........
–3
1,700
127
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
23
–91
–42
.........
–4
1,828
127
.........
.........
271
76
595
780
10
120
7,200
614
109
–264
–609
.........
12
.........
635
.........
–5,815
277
76
601
800
10
120
7,200
620
224
–708
–833
.........
–6
7,621
1,270
.........
–5,815
75
39
7
.........
.........
.........
.........
.........
169
169
–6,815 –19,568 –39,958 –58,911 –78,510 –103,417 –128,279 –163,159 –66,097 –598,374
116
18
111
316
4
.........
2,161
232
23
–54
–120
.........
17
–250
......... –10,000 –20,000 –40,000 –60,000 –80,000 –105,000 –130,000 –165,000 –70,000 –610,000
–1,821
–3,814
.........
–1,110
.........
–13
–580
.........
.........
.........
.........
.........
.........
ay
,M
PM
.........
.........
2020
9
22
Divest Southwestern Power Administration
transmission assets ........................................
Divest WAPA transmission assets ....................
Divest Bonneville Power Administration transmission assets .................................................
Total, Energy ..................................................
Health and Human Services:
Reform Medicaid ................................................
Extend Children’s Health Insurance Program
(CHIP) funding through 2019 2 .....................
Repeal the Independent Payment Advisory
Board (IPAB) ..................................................
Improve the Medicare appeals system ..............
Improve 340B program integrity ......................
Prohibit governmental discrimination against
health care providers that refuse to cover
abortion ...........................................................
Interactions ........................................................
Strengthen Child Support Enforcement and
Establishment ................................................
Establish a Child Support Technology Fund ....
Shift Social Services Block Grant (SSBG) expenditures to Foster Care and Permanency ........
Extend certain Medicare Access and CHIP
Reauthorization Act of 2015 (MACRA) programs through 2019:
Extend Health Centers ..................................
Extend the National Health Service Corps ...
Extend Teaching Health Centers Graduate
Medical Education .....................................
Extend Family to Family Health Information
Centers .......................................................
Extend the Maternal, Infant, and Early
Childhood Home Visiting Program ...........
Extend the Special Diabetes Program for
the National Institutes of Health and the
Indian Health Service ................................
Extend Medicare Enrollment Assistance
Programs ....................................................
Extend Abstinence Education and Personal
Responsibility Education Program ...........
Extend Health Profession Opportunity
Grants .........................................................
Total Health and Human Services ................
2019
il
nt
U
2018
ed
o
rg
ba
2017
Em
(Deficit increases (+) or decreases (-) in millions of dollars)
Table S–6. Mandatory and Receipt Proposals—Continued
34
SUMMARY TABLES
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
–231
.........
–327
–69
–3
–6
–405
.........
–36
.........
–272
–83
–3
–5
–363
9
3
70
.........
–301
.........
–95
62
.........
–9
.........
.........
–7
.........
.........
–94
.........
615
–1,196
.........
–581
.........
.........
.........
.........
.........
709
.........
.........
.........
ay
–1,202
.........
–796
406
–88
.........
–215
709
,M
PM
.........
.........
.........
2019
.........
–415
78
28
.........
–509
.........
–12
.........
2020
9
22
Homeland Security:
Extend expiring Customs and Border Protection (CBP) fees ................................................
Increase Customs user fees ...............................
Increase immigration user fees .........................
Establish Electronic Visa Update System user
fee 2 ..................................................................
Reform the National Flood Insurance Program ...
Authorize mandatory outlays for U.S. Coast
Guard Continuation Pay ................................
Eliminate BrandUSA; make revenue available
to CBP 2 ...........................................................
Transfer Electronic System for Travel Authorization receipts to International Trade
Administration 2 .............................................
Total, Homeland Security ..............................
Interior:
Lease oil and gas in the Arctic National Wildlife Refuge (ANWR) ........................................
Repeal Gulf of Mexico Energy Security Act
(GOMESA) State payments ...........................
Cancel Southern Nevada Public Land Management Act (SNPLMA) balances .......................
Repeal enhanced geothermal payments to
counties ...........................................................
Reauthorize the Federal Land Transaction
Facilitation Act ...............................................
Total, Interior .................................................
Labor:
Establish a paid parental leave program:
Provide paid parental leave benefits 2 ...........
Establish an Unemployment Insurance (UI)
solvency standard 2 ....................................
Improve UI program integrity 2 ....................
Provide for Reemployment Services and
Eligibility Assessments 2 ...........................
Total, establish a paid parental leave
program ..................................................
Improve Pension Benefit Guaranty Corporation (PBGC) solvency .....................................
Accelerate PBGC premium payment ................
Total, Labor ....................................................
2018
–1,210
.........
–340
870
–541
–758
–251
2,420
–9
–434
–3
–78
–344
.........
il
nt
31
.........
–730
.........
–19
.........
2021
.........
–1,294
.........
–2,355
–1,061
–562
–1,894
–249
1,644
–12
–382
–4
.........
–366
.........
.........
–718
U
2017
.........
–971
.........
–26
.........
2022
1,868
–3
–783
–4
.........
–376
–400
.........
–964
.........
33
–1,507
.........
–2,972
–1,465
–522
–2,568
–243
ed
o
rg
.........
–38
.........
2023
–1,625
.........
–1,183
442
–411
–1,045
–211
2,109
.........
–879
–4
.........
–375
–500
.........
–1,080
.........
34
.........
–1,076
ba
–1,705
.........
–2,032
–327
–413
–1,833
–253
2,172
.........
–379
–4
.........
–375
.........
.........
–1,152
.........
35
.........
–1,141
.........
–46
.........
2024
Em
(Deficit increases (+) or decreases (-) in millions of dollars)
–1,546
3,088
2,024
482
–493
–1,072
–249
2,296
.........
–379
–4
.........
–375
.........
.........
–1,276
.........
36
.........
–1,260
.........
–52
.........
2025
Table S–6. Mandatory and Receipt Proposals—Continued
–2,238
–3,088
–5,139
187
–499
–1,488
–241
2,415
.........
–779
–4
.........
–375
–400
.........
–5,335
.........
37
.........
–1,375
–3,931
–66
.........
2026
–2,335
–5,005
–8,181
–841
–519
–2,254
–228
2,160
.........
–879
–4
.........
–375
–500
.........
–5,615
.........
38
.........
–1,432
–4,143
–78
.........
2027
–6,409
.........
–7,044
–635
–1,713
–5,220
–1,052
7,350
–35
–2,367
–17
–230
–1,685
–400
.........
–2,365
210
104
.........
–2,606
.........
–73
.........
20182022
–15,858
–5,005
–21,555
–692
–4,048
–12,912
–2,234
18,502
–35
–5,662
–37
–230
–3,560
–1,800
.........
–16,823
210
284
.........
–8,890
–8,074
–353
.........
20182027
Totals
THE BUDGET FOR FISCAL YEAR 2018
35
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
637
637
–74
1,593
–43
–66
–3,394
–1,910
.........
–107
–107
.........
.........
.........
367
367
–15
718
–42
–20
–3,205
–2,549
.........
–108
–108
–524
–1,875
–1,719
.........
.........
.........
5
.........
.........
.........
ay
4
12,295
–3,227
–1,187
–2,134
,M
PM
22
Transportation:
Air Traffic Control:
Reform Air Traffic Control 2 ...........................
Outlay savings from discretionary cap adjustment ......................................................
Reform Essential Air Service 2 ..........................
Assume Highway Trust Fund outlays conform
to baseline levels of Highway Trust Fund
revenues ..........................................................
Total, Transportation .....................................
Treasury:
Provide authority for Bureau of Engraving and
Printing to construct new facility 2 ...............
Veterans Affairs:
Continue the Veterans Choice Program ............
Cap Post–9/11 GI Bill Flight Training ..............
Extend round-down of cost-of-living adjustments (COLAs) ...............................................
Modernize Individual Unemployability ............
Total, Veterans Affairs ...................................
Corps of Engineers:
Divest Washington Aqueduct ............................
Reform inland waterways financing 2 ...............
Total, Corps of Engineers ...............................
Environmental Protection Agency:
Expand use of pesticide licensing fees ..............
Office of Personnel Management (OPM):
Reduce Federal retirement benefits:
Eliminate Federal Employee Retirement
System COLA; reduce Civil Service Retirement System COLA by 0.5% ...............
Other Federal retirement changes ................
Increase Employee Contributions:
Increase employee contributions to 50% of
cost with 6-year phase-in (1% per year) 2 ...
Intragovernmental effects of OPM proposals
(non-scoreable):
Loss of mandatory offsetting receipts from
OPM proposals ...........................................
9
13,957
–4,810
–1,892
–3,055
4
–119
–106
–225
–127
–3,582
–1,286
2,469
–46
–3
173
173
.........
.........
.........
2020
il
nt
–919
4,738
15,779
–6,372
–2,657
–2,617
4
.........
–105
–105
–182
–3,773
–947
3,056
–48
5
17,302
18,073
18,881
17,425
–7,959
–3,481
–3,298
4
.........
–104
–104
–235
–3,968
–816
3,437
–50
–314
19,050
–9,537
–4,369
–3,620
3
.........
–103
–103
–295
–4,166
–1,013
3,500
–52
5
19,166
–9,568
–5,322
–3,943
2
.........
–103
–103
–347
–4,369
–1,270
3,500
–54
14
19,280
–9,599
–6,344
–4,383
1
.........
–101
–101
–403
–4,576
–1,535
3,500
–56
3
19,384
–9,624
–7,432
–4,841
1
.........
–100
–100
–466
–4,787
–1,812
3,500
–59
165
11,273
–229
–401
–5,288
5,676
21
–119
–530
–649
19,472
59,456
–9,640 –24,087
–8,591 –9,740
–5,280 –12,979
1
.........
–100
–100
–536
–630
–5,002 –17,922
–2,099 –7,508
3,500
–61
–494
–5,546 –15,164 –16,833 –18,156 –19,436 –20,399
–239 –9,595 –10,744 –11,261 –11,770 –11,925
16,382
155,808
–72,055
–41,799
–35,046
29
–119
–1,037
–1,156
–2,677
–40,822
–15,237
28,773
–511
–708
–95,276
–49,619
–70,027
52
15,627
–9,669 –10,058 –10,293 –10,407 –10,407 –10,407 –18,455
.........
.........
.........
.........
.........
.........
52
20182027
–8,786
52
20182022
115,632
2027
29,367
2026
14,976
2025
14,391
2024
2022
2023
Totals
2021
U
2019
ed
2018
o
rg
ba
Em
2017
(Deficit increases (+) or decreases (-) in millions of dollars)
Table S–6. Mandatory and Receipt Proposals—Continued
36
SUMMARY TABLES
22
Discretionary effect of OPM proposals ..........
Total, Office of Personnel Management ....
Other Independent Agencies:
Federal Communications Commission:
Enact Spectrum License User Fee ................
Reform the Postal Service ..................................
Restructure the Consumer Financial Protection Bureau .....................................................
Eliminate the Securities and Exchange Commission Reserve Fund ....................................
Mandatory effects of agency eliminations ........
Total, Other Independent Agencies ...............
Cross-cutting reforms:
Repeal and replace Obamacare 2 .......................
Implement an infrastructure initiative ............
Reform welfare programs:
Reform Supplemental Nutrition Assistance
Program (SNAP) ........................................
Establish a SNAP authorized retailer application fee .....................................................
Eliminate SSBG .............................................
Reduce Temporary Assistance for Needy
Families (TANF) block grant .....................
Provide funding for welfare research and
Census Bureau Survey of Income and
Program Participation, transferred from
TANF ..........................................................
Eliminate TANF Contingency Fund .............
Require Social Security Number (SSN) for
Child Tax Credit & Earned Income Tax
Credit 2 ........................................................
Total, reform welfare programs .................
Reform disability programs and test new
approaches:
Test new approaches to increase labor force
participation ...............................................
Reinstate the reconsideration review stage
in 10 States .................................................
Reduce 12 month retroactive Disability
Insurance benefits to six months ..............
Create sliding scale for multi-recipient Supplemental Security Income families ..........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
30,000
25,000
–7,627 –13,990 –16,928 –21,130 –24,871 –24,634 –25,714 –26,135 –25,266 –64,312 –190,932
–246
–1,683
–1,491
–4,637
–252
–1,411
–1,218
.........
–608
–50
.........
–6,199
–50
.........
–6,227
–50
.........
–6,129
–50
.........
–6,030
–804
–2,910
–50
–200
.........
.........
–6,031 –26,639
–826
–450
.........
–57,255
–6,833
.........
–608
–1,550
–241
–1,700
.........
–608
–1,582
–236
–1,700
.........
–608
–1,615
–230
–1,700
.........
–608
–1,632
–230
–1,700
.........
–608
–1,632
–230
–1,700
.........
–608
–1,632
–230
–1,700
.........
–608
–1,632
–230
–1,700
.........
–608
–1,632
–230
–1,700
.........
–2,999
–7,456
–1,205
–8,194
.........
–6,039
–15,616
–2,355
–16,694
–5,000 –30,000 –35,000 –40,000 –40,000 –50,000 –50,000 –55,000 –15,000 –250,000
40,000 50,000 40,000 20,000 10,000
5,000
5,000
......... 160,000 200,000
–50
–1
–6,200
–784
–3,950
–46,020
100
.........
–113
–743
.........
.........
.........
–827
–643
71
100
–861
–797
–10
100
–882
–951
–59
100
–956
–1,043
–526
100
–906
–1,112
–246
–2,494
–862
–1,191
–263
–5,069
–955
–1,272
–305
–979
–1,349
–354
–1,002
–1,430
–376
–9,332 –13,809 –18,627
–4,269
–3,547
–524
500
–8,973
–9,901
–2,068
–48,831
–449 –4,512 –4,447 –4,358 –4,309 –4,296 –4,373 –4,460 –4,555 –4,652 –18,075 –40,411
–8,534 –16,167 –22,536 –25,412 –29,592 –33,337 –33,177 –34,344 –34,860 –34,088 –102,241 –272,047
.........
–567
–50
.........
–5,997
25,000
5,000
–50
.........
–5,904
–764
–745
–500 –1,450
–4,655 –22,077
–50
.........
–5,535
–726
–706
–500
–4,676
.........
1
–3,001
–683
–500
–4,913
–500
–4,904
–500
–4,795
–650
–500
–4,923
–450
–4,791
–145
–300
–4,871
–69,849
–62,941
–150
–4,685
–7,966 –7,650 –7,341 –29,978
–9,012 –10,163 –11,380 –17,329
–8,290
–7,957
–8,624
–7,100
20182027
–50
–2,807
–8,265
–5,578
–7,826
–3,692
20182022
–7,230
–3,031
2027
–6,657
–910
2026
2025
2024
2023
.........
–4,117
2022
2021
Totals
2020
.........
.........
.........
.........
.........
ay
,M
PM
2019
il
nt
U
9
2018
ed
o
rg
ba
Em
2017
(Deficit increases (+) or decreases (-) in millions of dollars)
Table S–6. Mandatory and Receipt Proposals—Continued
THE BUDGET FOR FISCAL YEAR 2018
37
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
.........
–3
–58
–1,360
–719
.........
.........
–2
.........
.........
–756
.........
.........
.........
.........
.........
.........
.........
.........
–28
–12
.........
.........
–194
15
293
.........
.........
.........
.........
.........
–30
–73
–179
.........
209
20
–104
–2,400
.........
–61
–885
–1,097
–31
–18
–9
–14
–26
–8
.........
.........
.........
.........
.........
.........
ay
,M
PM
.........
9
22
Create a probationary period for Administrative Law Judges (ALJs) ........................
Eliminate Workers Compensation Reverse
Offsets .........................................................
Offset overlapping unemployment and disability payments 2 ......................................
Total, reform disability programs and test
new approaches ......................................
Reduce improper payments:
Reduce improper payments Government-wide ...................................................
Allow Government-wide use of CBP entry/
exit data to prevent improper payments ...
Use Death Master File to prevent improper
payments ....................................................
Authorize Social Security Administration
(SSA) to use all collection tools to recover
funds ...........................................................
Hold fraud facilitators liable for overpayments ..........................................................
Increase overpayment collection threshold
for Old Age, Survivors, and Disability
Insurance ....................................................
Exclude SSA debts from discharge in bankruptcy ..........................................................
Allow SSA to use commercial database to
verify real property ....................................
Increase oversight of paid tax return preparers 2 .............................................................
Provide more flexible authority for the Internal Revenue Service to address correctable errors 2 ................................................
Total, reduce improper payments ..............
Reform the medical liability system 2 ...............
Reform financial regulation and prevent taxpayer-funded bailouts ....................................
Conduct spectrum auctions below 6 gigahertz ...
Eliminate allocations to the Housing Trust
Fund and Capital Magnet Fund 2 .................
Authorize additional Afghan Special Immigrant Visas ......................................................
Modify TRICARE Pharmacy fees (includes
non-scoreable accrual effect) .........................
Extend Joint Committee mandatory sequestration ..................................................................
.........
–1
–1,482
–1,825
–249
–8
.........
–1
–2
.........
161
20
–177
–3,000
–300
–64
–1,695
–1,928
–35
–44
–23
–43
il
nt
–2,383
–2,133
–329
–12
.........
2021
–5
.........
117
18
–247
–3,400
–300
–65
–2,636
–3,308
–38
–53
–29
–59
–1
–3
.........
U
2020
–2,765
–324
–16
.........
2022
.........
102
18
–321
–4,300
.........
–67
–4,584
–4,827
–42
–60
–34
–77
–1
–4
.........
–11
–4,288
ed
2019
o
rg
.........
2023
.........
2024
–323
–319
–296
–28
.........
2026
–317
–31
.........
2027
–50
–70
–38
–107
–1
–5
.........
–26
–55
–68
–40
–135
–1
–5
.........
–31
–61
–76
–43
–144
–1
–5
.........
–40
–66
–79
–45
–156
–1
–11
.........
–43
–9,652 –20,480 –38,024 –57,633
–72,475
–2,538
–164
.........
20182027
–160
–197
–113
–213
–3
–11
.........
–17
–439
–559
–315
–848
–8
–41
.........
–177
–8,872 –139,210
–8,839
–960
–39
.........
20182022
Totals
.........
51
18
–335
–4,400
.........
.........
29
16
–348
–4,300
.........
–93
16
–375
–4,400
.........
–187
16
–378
.........
881
91
–1,044
–4,500 –13,100
–6,000
–600
8,361 –20,341 –27,435
–49
15
–367
–4,300
.........
–39,415
632
172
–2,846
–35,000
–6,600
–70
–71
–74
–76
–77
–287
–655
–4,889 –10,020 –20,889 –38,470 –58,111 –9,873 –142,252
–6,541 –8,082 –9,114 –9,642 –10,295 –11,339 –55,013
–47
–69
–36
–93
–1
–4
.........
–20
–4,549
–5,096
–323
–25
.........
2025
–7,730 –12,212 –16,815 –21,783
–22
–19
ba
2018
Em
2017
(Deficit increases (+) or decreases (-) in millions of dollars)
Table S–6. Mandatory and Receipt Proposals—Continued
38
SUMMARY TABLES
.........
2019
33,216
2018
20,571
2021
2022
2023
2024
2025
2026
2027
3,720 –17,301 –41,270 –74,529 –93,612 –117,899 –169,980 –217,761
2020
ed
o
rg
ba
Em
il
nt
U
9
ay
,M
PM
22
–1,063
20182022
–674,845
20182027
Totals
Total, mandatory and receipt proposals .......
.........
3,967
9,555 –32,168 –67,365 –122,356 –184,954 –227,758 –275,731 –368,861 –457,782 –208,367 –1,723,454
1
The single income-driven repayment plan proposal has sizeable interactive effects with the proposals to eliminate subsidized loans and Public Service Loan Forgiveness.
These effects, $7.4 billion over 10 years, are included in the single income-driven repayment plan subtotal.
2
The estimates for this proposal include effects on receipts. The receipt effects included in the totals above are as follows:
Extend Children’s Health Insurance Program
(CHIP) funding through 2019 .......................
.........
49
–219
–367
–67
.........
.........
.........
.........
.........
.........
–604
–604
Establish Electronic Visa Update System user
fee ....................................................................
.........
–27
–27
–31
–28
–29
–28
–31
–28
–29
–28
–142
–286
Eliminate BrandUSA; make revenue available
to CBP .............................................................
.........
162
170
178
.........
.........
.........
.........
.........
.........
.........
510
510
Transfer Electronic System for Travel Authorization receipts to International Trade
Administration ...............................................
.........
–162
–171
–178
–185
–193
–200
–208
–215
–223
–230
–889
–1,965
Provide paid parental leave benefits .................
.........
.........
.........
.........
–916
–962
–971 –1,158 –1,264 –1,365 –1,459 –1,878
–8,095
Establish an Unemployment Insurance (UI)
solvency standard ..........................................
.........
.........
.........
–758 –1,894 –2,568 –1,045 –1,833 –1,072 –1,488 –2,254 –5,220 –12,912
Improve UI program integrity ...........................
.........
.........
4
8
23
42
86
57
81
102
132
77
535
Provide for Reemployment Services and Eligibility Assessments ..........................................
.........
.........
–1
.........
18
89
238
269
229
264
284
106
1,390
Reform Air Traffic Control .................................
.........
.........
.........
......... 14,391 14,976 15,627 16,382 17,302 18,073 18,881 29,367 115,632
Reform Essential Air Service ............................
.........
.........
.........
.........
129
130
132
133
134
136
137
259
931
Authority for Bureau of Engraving and Printing to construct new facility ..........................
.........
–15
–74
–3
5
–314
5
14
3
165
–494
–401
–708
Reform inland waterways financing .................
.........
–108
–107
–106
–105
–104
–103
–103
–101
–100
–100
–530
–1,037
Increase employee contributions to 50% of cost
with 6-year phase-in (1% per year) ...............
......... –1,719 –3,227 –4,810 –6,372 –7,959 –9,537 –9,568 –9,599 –9,624 –9,640 –24,087 –72,055
Repeal and replace Obamacare .........................
......... 55,000 60,000 85,000 100,000 105,000 115,000 120,000 120,000 120,000 120,000 405,000 1,000,000
Require Social Security Number (SSN) for
Child Tax Credit & Earned Income Tax
Credit ..............................................................
.........
–298 –1,176 –1,194 –1,228 –1,261 –1,313 –1,381 –1,455 –1,526 –1,618 –5,157 –12,450
Offset overlapping unemployment and disability payments ....................................................
.........
.........
.........
1
3
7
13
18
23
46
36
11
147
Increase oversight of paid tax return preparers ...
.........
–12
–18
–20
–22
–24
–27
–29
–32
–36
–39
–96
–259
Provide more flexible authority for the IRS to
address correctable errors .............................
.........
–5
–10
–11
–11
–12
–13
–13
–14
–15
–15
–49
–119
Reform the medical liability system .................
.........
–24
–222
–545
–982 –1,468 –2,054 –2,666 –3,053 –3,261 –3,444 –3,241 –17,719
Eliminate allocations to the Housing Trust
Fund and Capital Magnet Fund ...................
.........
–75
–79
–96
–110
–117
–122
–126
–129
–131
–134
–477
–1,120
Total receipt effects of mandatory proposals ...
......... 52,766 54,843 77,068 102,649 105,233 115,688 119,757 120,810 120,987 120,015 392,559 989,815
Total, cross-cutting reforms ...........................
2017
(Deficit increases (+) or decreases (-) in millions of dollars)
Table S–6. Mandatory and Receipt Proposals—Continued
THE BUDGET FOR FISCAL YEAR 2018
39
1,065
+54
–54
+*
603
462
1,065
1,070
+25
–15
+10
576
504
1,080
Total, Base Current Law Caps ................................
Proposed Base Cap Changes: 2
Defense ..................................................................
Non-Defense ...........................................................
Total, Base Cap Changes ....................................
Proposed Base Caps:
Defense 3 .....................................................................
Non-Defense ..............................................................
22
89
70
19
3
2
8
101
1,181
Total, Cap Adjustments ............................................
Total, Discretionary Budget Authority ................
1,080
Cap Adjustments: 5
Overseas Contingency Operations 6 .........................
Defense ...................................................................
Non-Defense ...........................................................
Emergency Requirements .........................................
Program Integrity .....................................................
Disaster Relief 7 .........................................................
Total, Proposed Base Caps ......................................
ay
Proposed Base Caps with Additional NDD Adjustments:
Defense 3 .....................................................................
576
Non-Defense ..............................................................
504
1,150
85
77
65
12
.........
2
7
1,065
603
462
,M
PM
1,069
616
453
+54
–77
–23
1,092
562
530
1,131
69
60
52
8
.........
2
7
1,062
616
446
Additional Non-Defense (NDD) Cap Reductions for Budget Proposals: 4
Air Traffic Control Reform ....................................
.........
.........
.........
Federal Employee Retirement
Cost Share Reduction ........................................
.........
.........
–7
Total, Proposed NDD Cap Reductions ..............
.........
.........
–7
Total, Base Caps .........................................................
549
516
551
519
Current Law Base Caps: 1
Defense .....................................................................
Non-Defense ..............................................................
2019
9
2018
il
590
556
1,146
1,119
2021
576
543
2020
1,117
52
43
39
4
.........
2
7
1,066
629
437
1,093
35
26
24
2
.........
2
7
1,059
642
417
–8
–18
–7
–7
1,077
1,073
–10
642
435
629
444
.........
+52
–121
–69
+53
–99
–46
nt
U
ed
2023
1,083
21
12
10
2
.........
2
7
1,062
655
407
–8
–19
–10
1,081
655
426
+50
–144
–93
1,088
21
12
10
2
.........
2
7
1,067
669
398
–9
–19
–10
1,086
669
417
+49
–167
–118
1,094
21
12
10
2
.........
2
7
1,073
683
390
–8
–19
–10
1,092
683
409
+47
–190
–142
1,234
1,204
1,174
636
599
620
584
2024
605
570
2022
o
rg
2017
ba
Em
(Net budget authority in billions of dollars)
Table S–7. Proposed Discretionary Caps for 2018 Budget
1,101
21
12
10
2
.........
2
7
1,080
697
383
–8
–18
–10
1,098
697
401
+45
–213
–168
1,266
652
614
2025
1,108
21
12
10
2
.........
2
7
1,087
712
375
–8
–18
–10
1,105
712
393
+44
–236
–193
1,298
668
629
2026
1,115
21
12
10
2
.........
2
7
1,094
727
367
–7
–18
–10
1,112
727
385
+42
–260
–219
1,331
685
645
2027
11,080
365
278
240
38
.........
20
68
10,715
6,633
4,082
–70
–143
–73
10,858
6,633
4,225
+489
–1,559
–1,070
11,928
6,144
5,784
20182027
Totals
40
SUMMARY TABLES
2018
2019
2020
2021
ed
2022
o
rg
ba
2023
Em
nt
U
9
ay
,M
PM
22
2024
2025
2026
2027
20182027
Totals
Memorandum—Appropriations Counted Outside of Discretionary Caps:
21st Century Cures Appropriations 8 ........................
1
1
1
1
*
1
1
*
*
*
.........
5
Non-BBEDCA Emergency Funding 9 ........................
–*
–5
.........
.........
.........
.........
.........
.........
.........
.........
.........
–5
* $500 million or less.
1
The caps presented here are equal to the levels estimated for 2017 through 2021 in the Balanced Budget and Emergency Deficit Control Act of 1985 (BBEDCA) with
separate categories of funding for “defense” (or Function 050) and “non-defense” programs. The 2017 caps were revised in the Bipartisan Budget Act of 2015 and the 2018
through 2021 caps include OMB estimates of Joint Committee enforcement (also known as “sequestration”). For 2022 through 2027, programs are assumed to grow at
current services growth rates consistent with current law.
2
The Administration proposed in its March 16 Blueprint an increase in the existing defense caps for 2017 and 2018 that is offset with decreases to the non-defense caps.
One-half of the 2017 increase ($5 billion of which is classified as Overseas Contingency Operations) is paid for out of non-defense in 2017 while the entire increase in 2018
is paid for out of non-defense. After 2018, the Budget proposes caps through 2027 that reflect an annual 2.1 percent increase for defense programs and an annual two percent (or “2-penny”) decrease for non-defense programs.
3
The defense base cap estimates for 2019-2027 reflect inflated 2018 levels, not a policy judgment. The Administration will determine 2019-2027 defense funding levels in
the 2019 Budget, in accordance with the National Security Strategy, National Defense Strategy, and Nuclear Posture Review that are currently under development.
4
These cap reductions are for reforms in the Budget that would shift the Federal Aviation Administration’s air traffic control function to an independent, non-governmental
organization beginning in 2021 and reduce Federal agency costs through changes to current civilian employee retirement plans.
5
The funding amounts below are cap adjustments that are designated pursuant to Section 251(b)(2) of BBEDCA.
6
The outyear amounts for OCO in the 2018 Budget reflect notional placeholders consistent with a potential transition of certain OCO costs into the base budget while continuing to fund contingency operations. The placeholder amounts do not reflect specific decisions or assumptions about OCO funding in any particular year.
7
“Disaster Relief” appropriations are amounts designated as such by the Congress provided they are for activities carried out pursuant to a determination under the
Robert T. Stafford Disaster Relief and Emergency Assistance Act. These amounts are held to a funding ceiling that is determined one year at a time and OMB currently
estimates the 2018 ceiling to be at $7.4 billion. The Administration is requesting $6.8 billion in 2018, but does not explicitly request disaster-designated appropriations in
any year after the budget year. A placeholder set at the budget year request level is included in each of the outyears.
8
The 21st Century Cures Act permitted funds to be appropriated each year and not counted towards the discretionary caps so long as the appropriations were specifically
provided for the authorized purposes. These amounts are displayed outside of the discretionary totals for this reason and the levels included through the budget window
reflect authorized levels.
9
The 2018 Budget includes a permanent cancellation of balances of emergency funding in the Department of Energy that were not designated pursuant to BBEDCA. These
cancellations are not being re-designated as emergency; therefore no savings are being achieved under the caps nor will the caps be adjusted for these cancellations.
2017
il
(Net budget authority in billions of dollars)
Table S–7. Proposed Discretionary Caps for 2018 Budget—Continued
THE BUDGET FOR FISCAL YEAR 2018
41
Commerce ..........................................................................................................................
Defense: 1
Cabinet Departments:
Agriculture 3 .......................................................................................................................
Base Discretionary Funding:
il
nt
U
,M
PM
22
Transportation ..................................................................................................................
Treasury:
Treasury program level (excluding offsets) ...................................................................
Treasury mandatory spending changes (CHIMPs) ......................................................
Veterans Affairs .................................................................................................................
Major Agencies:
Corps of Engineers ............................................................................................................
Environmental Protection Agency ...................................................................................
General Services Administration .....................................................................................
National Aeronautics and Space Administration ............................................................
ay
Housing and Urban Development (HUD):
HUD gross total (excluding receipts) ............................................................................
HUD receipts .................................................................................................................
Interior ...............................................................................................................................
Justice (DOJ):
DOJ program level (excluding offsets) .........................................................................
DOJ mandatory spending changes (CHIMPs) .............................................................
Labor ..................................................................................................................................
State and Other International Programs 3 .......................................................................
9
Homeland Security (DHS):
DHS excluding 2017 Border Request ...........................................................................
March Border Security Request for 2017 1 ....................................................................
ed
CR/Enacted for 2017 ....................................................................................................
Adjustment for March Defense Request for 2017 ........................................................
Total, Defense Policy ......................................................................................................
Education ...........................................................................................................................
Energy ...............................................................................................................................
National Nuclear Security Administration .................................................................
Other Energy .................................................................................................................
Health and Human Services 4 ...........................................................................................
o
rg
40.7
–9.5
11.7
27.7
–11.3
9.7
28.2
16.2
12.1
–0.9
78.8
5.0
5.7
0.5
19.1
46.9
–13.2
13.2
28.8
–11.8
12.1
39.7
18.6
12.6
–0.9
74.5
6.0
8.2
0.2
19.2
44.1
.........
3.0
65.3
574.5
.........
574.5
59.0
28.0
13.9
14.1
18.0
7.8
2018
Request 2
41.3
78.0
521.8
27.4
549.1
68.2
29.7
12.5
17.2
22.7
9.2
ba
Em
2017
Estimate 1,2
(Net budget authority in billions of dollars)
–1.0
–2.6
+0.3
–0.2
–0.5
.........
+4.3
–11.5
–2.4
–1.1
+0.5
–2.4
–6.2
+3.7
–1.4
–3.0
+2.8
–12.7
+52.8
–27.4
+25.4
–9.2
–1.7
+1.4
–3.1
–4.6
–1.5
–16.3%
–31.4%
N/A
–0.8%
–4.1%
N/A
+5.8%
–29.1%
–12.7%
–3.8%
N/A
–19.8%
–13.2%
N/A
–10.9%
N/A
+6.8%
–16.2%
+10.1%
N/A
+4.6%
–13.5%
–5.6%
+11.4%
–18.0%
–20.5%
–15.8%
Percent
2018 Request less
2017 Estimate
Dollar
Table S–8. 2018 Discretionary Overview by Major Agency
42
SUMMARY TABLES
9.0
20.4
–13.6
7.4
0.9
6.7
1.4
8.1
101.4
1,181.0
Homeland Security ...........................................................................................................
Housing and Urban Development ....................................................................................
Subtotal, Disaster Relief .......................................................................................................
Subtotal, Cap Adjustment Funding ...................................................................................
Total, Discretionary Budget Authority ............................................................................
0.2
0.4
1.0
1.0
0.1
2.7
65.0
4.7
69.7
0.2
19.2
89.0
1,079.6
0.4
1.2
1.5
22
Program Integrity:
Health and Human Services ............................................................................................
Social Security Administration .......................................................................................
Subtotal, Program Integrity .................................................................................................
Disaster Relief: 5
ay
Emergency Requirements:
Agriculture ........................................................................................................................
Housing and Urban Development ....................................................................................
Transportation ..................................................................................................................
Corps of Engineers ............................................................................................................
National Aeronautics and Space Administration ............................................................
Subtotal, Emergency Requirements ....................................................................................
,M
PM
CR/Enacted for 2017 ....................................................................................................
Adjustment for March Defense Request for 2017 ........................................................
Total, Defense Policy ......................................................................................................
Homeland Security ...........................................................................................................
State and Other International Programs ........................................................................
Subtotal, Overseas Contingency Operations .......................................................................
9
Cap Adjustment Funding:
Overseas Contingency Operations:
Defense: 1
il
nt
U
Subtotal, Discretionary Base Budget Authority ............................................................
Other Agencies ......................................................................................................................
2017 Allowance 1 ....................................................................................................................
ed
o
rg
ba
1,150.3
85.3
6.8
.........
6.8
0.4
1.5
1.9
.........
.........
.........
.........
.........
.........
64.6
.........
64.6
.........
12.0
76.6
–30.7
–16.1
+0.1
–1.4
–1.3
+0.1
+0.3
+0.4
–0.2
–0.4
–1.0
–1.0
–0.1
–2.7
–0.4
–4.7
–5.1
–0.2
–7.2
–12.4
–14.6
+*
–2.6
+13.6
9.1
17.9
.........
1,065.0
–0.8
–*
Dollar
–2.6%
–15.9%
+1.2%
N/A
–16.4%
+17.3%
+26.8%
+24.5%
N/A
N/A
N/A
N/A
N/A
N/A
–0.6%
N/A
–7.3%
–100.0%
–37.4%
–14.0%
–1.4%
+0.3%
–12.5%
N/A
–10.7%
–4.9%
Percent
2018 Request less
2017 Estimate
6.7
0.8
2018
Request 2
Em
National Science Foundation ............................................................................................
Small Business Administration ........................................................................................
Social Security Administration 4 .......................................................................................
2017
Estimate 1,2
(Net budget authority in billions of dollars)
Table S–8. 2018 Discretionary Overview by Major Agency—Continued
THE BUDGET FOR FISCAL YEAR 2018
43
il
nt
9
ay
,M
PM
22
2018
Request 2
Dollar
Percent
2018 Request less
2017 Estimate
Health and Human Services .............................................................................................
0.9
1.1
+0.2
+21.1%
Non-BBEDCA Emergency Appropriations:
Agriculture .........................................................................................................................
–*
.........
+*
N/A
Energy 7 ..............................................................................................................................
.........
–4.7
–4.7
N/A
* $50 million or less.
1
At the time the 2018 Budget was prepared, 2017 appropriations remained incomplete and the 2017 column reflects at the account level enacted full-year and continuing appropriations provided under the Continuing Appropriations Act, 2017 (Division C of Public Law 114-223,
as amended by Division A of Public Law 114-254 and amended further by Public Law 115-30) that expired on May 5. In addition, the levels are adjusted to illustratively reflect the current law caps for 2017 and the Administration’s March 16 request for additional appropriations for defense and border security, which are included with the levels shown for the Departments of Defense and Homeland Security.
The 2017 levels include a further allowance adjustment to reflect the reductions to non-defense programs proposed by the Administration.
2
Enacted, continuing, and proposed changes in mandatory programs (CHIMPs) are included in both 2017 and 2018.
3
Funding for Food for Peace Title II Grants is included in the State and Other International Programs total. Although the funds are appropriated to the Department of Agriculture, the funds are administered by the U.S. Agency for International Development.
4
Funding from the Hospital Insurance and Supplementary Medical Insurance trust funds for administrative expenses incurred by the
Social Security Administration that support the Medicare program are included in the Health and Human Services total and not in the
Social Security Administration total.
5
“Disaster Relief ” appropriations are amounts designated by the Congress provided they are for activities carried out pursuant to a determination under the Robert T. Stafford Disaster Relief and Emergency Assistance Act. These amounts are held to a funding ceiling that is
determined one year at a time and OMB currently estimates the 2018 ceiling to be at $7.4 billion. The Administration is requesting $6.8
billion in 2018.
6
The 21st Century Cures Act permitted funds to be appropriated each year for certain activities and not counted toward the discretionary
caps so long as the appropriations were specifically provided for the authorized purposes. These amounts are displayed outside of the
discretionary totals for this reason.
7
The 2018 Budget proposes to eliminate the Title 17 Innovative Technology Loan Guarantee Program and the Advanced Technology Vehicles Manufacturing Loan Program in the Department of Energy. This proposal includes a permanent cancellation of most of the remaining balances of emergency funding that were not designated pursuant to BBEDCA. These cancellations are not being re-designated as
emergency; therefore no savings are being achieved under the caps nor will the caps be adjusted for these cancellations.
U
Memorandum - Appropriations Counted Outside of Discretionary Caps:
21st Century Cures Appropriations: 6
2017
Estimate 1,2
o
rg
ba
Em
ed
(Net budget authority in billions of dollars)
Table S–8. 2018 Discretionary Overview by Major Agency—Continued
44
SUMMARY TABLES
18,566
2.9
1.6
1.9
1.3
1.3
0.3
1.8
18,037
3.7
2.6
1.9
1.1
0.1
*
2.1
0.8
2.7
2.6
19,367
4.3
2.3
2.3
1.9
2017
nt
9
ay
,M
PM
22
22,253
5.0
2.9
3.0
2.0
2.3
21,197
4.7
2.7
2.8
2.0
2.3
2.1
3.4
20,237
4.5
2.4
2.5
2.0
2.3
1.5
3.3
2020
2019
2018
2.6
3.8
24,563
5.1
3.0
3.0
2.0
23,379
5.1
3.0
3.0
2.0
2.9
3.8
2.3
3.0
3.8
2.3
2022
2021
Projections
3.0
3.8
2.3
25,806
5.1
3.0
3.0
2.0
2023
3.1
3.8
2.3
27,111
5.1
3.0
3.0
2.0
2024
3.1
3.8
2.3
28,483
5.1
3.0
3.0
2.0
2025
3.1
3.8
2.3
29,924
5.1
3.0
3.0
2.0
2026
3.1
3.8
2.3
31,439
5.1
3.0
3.0
2.0
2027
5.3
4.9
4.6
4.4
4.6
4.7
4.8
4.8
4.8
4.8
4.8
4.8
4.8
Unemployment rate, civilian, percent 3 ............................
* 0.05 percent or less.
Note: A more detailed table of economic assumptions appears in Chapter 2, “Economic Assumptions and Interactions with the Budget,” in the Analytical Perspectives volume
of the Budget.
1
Based on information available as of early March, 2017.
2
Seasonally adjusted CPI for all urban consumers.
3
Annual average.
4
Average rate, secondary market (bank discount basis).
Interest rates, percent: 3
91-day Treasury bills 4 ...........................................................
10-year Treasury notes .........................................................
Consumer Price Index, 2 percent change, year/year ......
Gross Domestic Product (GDP):
Nominal level, billions of dollars ..........................................
Percent change, nominal GDP, year/year .............................
Real GDP, percent change, year/year ...................................
Real GDP, percent change, Q4/Q4 ........................................
GDP chained price index, percent change, year/year ..........
2016
2015
il
Actual
U
ed
o
rg
ba
Em
(Calendar years)
Table S–9. Economic Assumptions 1
THE BUDGET FOR FISCAL YEAR 2018
45
1,051
368
6
1,425
19,513
25
19,538
19,513
26
19,539
106.1%
Changes in Debt Subject to Statutory Limitation:
Change in debt held by the public ............................................
Change in debt held by Government accounts ........................
Change in other factors ............................................................
Total, change in debt subject to statutory limitation ..........
Debt Subject to Statutory Limitation, End of Year:
Debt issued by Treasury ...........................................................
Adjustment for discount, premium, and coverage 3 .................
Total, debt subject to statutory limitation 4 .........................
Debt Outstanding, End of Year:
Gross Federal debt: 5
Debt issued by Treasury .......................................................
Debt issued by other agencies ..............................................
Total, gross Federal debt ...................................................
As a percent of GDP ......................................................
*
213
467
–1
83
16
155
345
240
585
3.2%
1,051
ay
22
Financing:
Unified budget deficit/surplus (–):
Primary deficit/surplus (–) ....................................................
Net interest ...........................................................................
Unified budget deficit/surplus (–) .....................................
As a percent of GDP ......................................................
Other transactions affecting borrowing from the public:
Changes in financial assets and liabilities: 1
Change in Treasury operating cash balance ...................
Net disbursements of credit financing accounts:
Direct loan and Troubled Asset Relief Program
(TARP) equity purchase accounts ............................
Guaranteed loan accounts ............................................
Net purchases of non-Federal securities by the National
Railroad Retirement Investment Trust (NRRIT) ........
Net change in other financial assets and liabilities 2 ......
Subtotal, changes in financial assets and liabilities ...
Seigniorage on coins ..............................................................
Total, other transactions affecting borrowing from the
public .........................................................................
Total, requirement to borrow from the public
(equals change in debt held by the public) ......
466
88
2
.........
125
315
440
2.2%
2018
21,067
28
21,095
529
210
2
740
529
89
–1
.........
90
–1
.........
155
371
526
2.5%
2019
21,815
30
21,844
604
142
3
749
604
78
–1
.........
79
–1
81
–1
60
428
488
2.2%
2020
22,479
31
22,510
552
112
3
666
552
64
–1
.........
64
–1
68
–2
.........
20,328 21,067 21,815 22,479
27
26
25
24
20,354 21,093 21,840 22,503
106.2% 105.4% 104.3% 102.4%
20,328
27
20,355
656
159
1
816
656
54
–1
.........
54
–1
67
–9
–3
326
276
603
3.1%
9
,M
PM
2017
il
nt
U
Actual
2016
ed
o
rg
23,091
23
23,114
100.1%
23,091
32
23,123
515
96
2
613
515
59
–1
.........
59
–1
65
–5
.........
–25
481
456
2.0%
2021
ba
23,625
23
23,647
97.5%
23,625
34
23,658
494
39
2
535
494
52
–1
.........
53
–1
61
–7
.........
–87
528
442
1.8%
2022
Estimate
Em
(Dollar amounts in billions)
24,049
21
24,071
94.4%
24,049
35
24,084
369
54
2
426
369
51
–1
.........
51
–1
61
–9
.........
–249
567
319
1.3%
2023
Table S–10. Federal Government Financing and Debt
24,389
20
24,410
91.2%
24,389
36
24,425
263
76
2
341
263
54
–1
.........
54
–1
60
–5
.........
–386
595
209
0.8%
2024
24,620
19
24,639
87.6%
24,620
36
24,656
229
*
1
230
229
54
–1
.........
54
–1
60
–5
.........
–438
613
176
0.6%
2025
24,763
19
24,781
83.8%
24,763
36
24,799
162
–20
1
143
162
52
–1
.........
52
–1
58
–5
.........
–518
629
110
0.4%
2026
24,658
18
24,676
79.5%
24,658
37
24,695
34
–140
2
–104
34
50
–*
.........
50
–1
55
–4
.........
–654
639
–16
–0.1%
2027
46
SUMMARY TABLES
5,372
14,168
77.0%
2019
5,883
15,957
76.2%
2018
5,740
15,353
76.7%
2017
5,531
14,824
77.4%
ed
5,994
16,509
75.1%
2020
o
rg
2023
6,184
17,887
70.2%
2022
6,130
17,517
72.2%
6,090
17,024
73.7%
Estimate
2021
ba
il
nt
U
9
ay
,M
PM
22
6,260
18,150
67.8%
2024
6,260
18,379
65.3%
2025
6,240
18,541
62.7%
2026
6,101
18,575
59.8%
2027
Debt Held by the Public Net of Financial Assets:
Debt held by the public .............................................................
14,168 14,824 15,353 15,957 16,509 17,024 17,517 17,887 18,150 18,379 18,541 18,575
Less financial assets net of liabilities:
Treasury operating cash balance .........................................
353
350
350
350
350
350
350
350
350
350
350
350
Credit financing account balances:
Direct loan and TARP equity purchase accounts ............
1,227
1,294
1,383
1,464
1,532
1,597
1,658
1,719
1,779
1,839
1,897
1,952
Guaranteed loan accounts ................................................
28
18
20
19
17
12
5
–4
–9
–14
–19
–23
Government-sponsored enterprise preferred stock .............
109
109
109
109
109
109
109
109
109
109
109
109
Non-Federal securities held by NRRIT ................................
24
24
22
21
20
19
18
17
17
16
16
15
Other assets net of liabilities ................................................
–42
–42
–42
–42
–42
–42
–42
–42
–42
–42
–42
–42
Total, financial assets net of liabilities ............................
1,699
1,753
1,842
1,921
1,985
2,045
2,097
2,149
2,203
2,257
2,310
2,360
Debt held by the public net of financial assets ............
12,469 13,071 13,511 14,036 14,524 14,979 15,420 15,738 15,947 16,122 16,232 16,215
As a percent of GDP ..................................................
67.7%
68.2% 67.5% 67.0% 66.1%
64.9%
63.6%
61.7%
59.5%
57.3%
54.9%
52.2%
* $500 million or less.
1
A decrease in the Treasury operating cash balance (which is an asset) is a means of financing a deficit and therefore has a negative sign. An increase in checks outstanding (which is a liability) is also a means of financing a deficit and therefore also has a negative sign.
2
Includes checks outstanding, accrued interest payable on Treasury debt, uninvested deposit fund balances, allocations of special drawing rights, and other liability accounts; and, as an offset, cash and monetary assets (other than the Treasury operating cash balance), other asset accounts, and profit on sale of gold.
3
Consists mainly of debt issued by the Federal Financing Bank (which is not subject to limit), the unamortized discount (less premium) on public issues of Treasury notes
and bonds (other than zero-coupon bonds), and the unrealized discount on Government account series securities.
4
The statutory debt limit is approximately $19,809 billion, as increased after March 15, 2017.
5
Treasury securities held by the public and zero-coupon bonds held by Government accounts are almost all measured at sales price plus amortized discount or less amortized premium. Agency debt securities are almost all measured at face value. Treasury securities in the Government account series are otherwise measured at face value
less unrealized discount (if any).
6
At the end of 2016, the Federal Reserve Banks held $2,463.5 billion of Federal securities and the rest of the public held $11,704.3 billion. Debt held by the Federal Reserve
Banks is not estimated for future years.
Held by:
Debt held by Government accounts .....................................
Debt held by the public 6 .......................................................
As a percent of GDP ..........................................................
Actual
2016
Em
(Dollar amounts in billions)
Table S–10. Federal Government Financing and Debt—Continued
THE BUDGET FOR FISCAL YEAR 2018
47