Financial Accounts of the United States - Z.1
F.105 General Government (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates| Description | Series code | 2021 | 2022 | 2023 | 2024 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| General government; current receipts, NIPA basis | FA366010115 | 8010.4 | 8810.9 | 8534.8 | 8971.2 | 8833.2 | 8879.2 | 9006.5 | 9165.9 | 9275.4 | 1 |
| General government; personal current taxes | FA366210005 | 2705.1 | 3244.9 | 2855.7 | 3035.7 | 2965.6 | 3005.4 | 3054.2 | 3117.6 | 3187.7 | 2 |
| General government; taxes on production and imports, receivable (IMA) | FA366240005 | 1700.1 | 1850.2 | 1893.1 | 1968.2 | 1938.0 | 1954.7 | 1975.9 | 2004.2 | 2038.8 | 3 |
| General government; taxes on corporate income (accrual basis) | FA366231005 | 450.1 | 563.9 | 608.6 | 654.9 | 630.2 | 657.4 | 655.7 | 676.2 | 678.6 | 4 |
| Federal government; taxes from the rest of the world | FA316231061 | 31.5 | 34.3 | 35.4 | 37.5 | 36.7 | 37.6 | 37.8 | 38.0 | 37.1 | 5 |
| General government; contributions for government social insurance received | FA366601005 | 1565.3 | 1710.7 | 1822.7 | 1905.0 | 1889.0 | 1896.1 | 1903.9 | 1930.8 | 1961.8 | 6 |
| General government; property income (received) | FA366150105 | 232.2 | 207.7 | 144.7 | 162.8 | 160.2 | 164.5 | 163.8 | 162.6 | 167.0 | 7 |
| General government; other current transfers received | FA366403105 | 1337.2 | 1207.0 | 1207.4 | 1247.7 | 1253.9 | 1205.3 | 1255.5 | 1276.1 | 1241.4 | 8 |
| General government; operating surplus, net | FA366402105 | -11.0 | -7.9 | -32.8 | -40.5 | -40.5 | -41.8 | -40.2 | -39.7 | -37.1 | 9 |
| General government; current expenditures | FA366900015 | 10603.8 | 9742.9 | 10262.7 | 10867.2 | 10633.2 | 10764.4 | 10992.2 | 11078.9 | 11194.1 | 10 |
| General government; consumption expenditures | FA366901005 | 3375.3 | 3566.5 | 3724.0 | 3916.7 | 3840.1 | 3882.1 | 3947.7 | 3996.9 | 4030.6 | 11 |
| General government; social contributions paid | FA366404005 | 4593.6 | 4042.6 | 4178.4 | 4439.7 | 4347.5 | 4413.8 | 4472.0 | 4525.5 | 4674.5 | 12 |
| General government; other current transfers paid | FA366403005 | 1173.1 | 1041.8 | 1041.0 | 1050.8 | 1007.9 | 1010.9 | 1102.4 | 1082.0 | 1016.4 | 13 |
| General government; interest paid | FA366130005 | 852.0 | 964.0 | 1216.6 | 1365.4 | 1340.8 | 1363.2 | 1377.3 | 1380.3 | 1367.1 | 14 |
| General government; subsidies paid | FA366402005 | 609.9 | 128.0 | 102.8 | 94.6 | 96.8 | 94.4 | 92.8 | 94.2 | 105.5 | 15 |
| General government; net saving including net capital transfers paid | FA366006005 | -2593.4 | -932.0 | -1728.0 | -1895.9 | -1799.9 | -1885.1 | -1985.7 | -1913.1 | -1918.6 | 16 |
| General government; consumption of fixed capital, structures, equipment, and intellectual property products, current cost basis (NIPA basis) | FA366300005 | 662.0 | 733.6 | 776.8 | 810.0 | 796.1 | 804.1 | 815.1 | 824.8 | 836.0 | 17 |
| Federal government; life insurance and pension fund reserves, adjustment to convert NIPA to FOF savings; liability (2) | FA313154015 | -1.2 | -2.6 | -1.4 | -1.1 | -2.4 | -1.4 | -0.7 | 0.1 | -2.0 | 18 |
| General government; net capital transfers paid excluding payments under the financial stabilization program (3) | FA365440095 | 32.9 | -43.1 | 153.6 | 35.4 | 27.5 | 33.1 | 48.9 | 32.0 | 7.0 | 19 |
| General government; gross saving less net capital transfers paid | FA366000105 | -1963.2 | -152.6 | -1103.4 | -1120.2 | -1028.8 | -1112.7 | -1218.8 | -1120.3 | -1087.7 | 20 |
| General government; gross investment | FA365090005 | -1579.1 | -210.0 | -1492.9 | -1110.0 | -464.9 | -997.4 | -1121.2 | -1856.6 | -653.8 | 21 |
| General government; gross fixed investment | FA365019005 | 828.2 | 887.2 | 986.6 | 1073.0 | 1040.9 | 1060.9 | 1087.4 | 1102.9 | 1117.8 | 22 |
| General government; acquisition of nonproduced nonfinancial assets (net) | FA365420005 | 6.6 | -93.2 | 14.8 | 15.0 | 15.4 | 14.3 | 15.1 | 15.3 | 15.1 | 23 |
| General government; net lending (+) or borrowing (-) (financial account) | FA365000005 | -2413.8 | -1004.1 | -2494.3 | -2198.0 | -1521.1 | -2072.5 | -2223.7 | -2974.7 | -1786.6 | 24 |
| General government; total financial assets | FA364090005 | -588.8 | 600.3 | 430.6 | 286.8 | 659.1 | 308.5 | 560.1 | -380.4 | -591.9 | 25 |
| Federal government; monetary gold and SDRs; asset | FA313011105 | 113.7 | 5.0 | 4.6 | 5.1 | 7.9 | 4.2 | 5.9 | 2.7 | 3.0 | 26 |
| General government; checkable deposits and currency; asset | FA363020005 | -1207.8 | 57.3 | 336.3 | -33.9 | 222.8 | 70.2 | 244.9 | -673.6 | -1073.4 | 27 |
| General government; total time and savings deposits; asset | FA363030005 | -29.6 | -13.4 | 3.9 | 0.0 | 37.8 | 4.6 | -21.0 | -21.3 | 20.6 | 28 |
| Federal government; other deposits; asset | FA313030505 | 0.4 | 0.8 | -4.7 | -3.3 | 2.8 | -2.4 | -6.4 | -7.1 | -11.9 | 29 |
| State and local governments; money market fund shares; asset | FA213034003 | 15.3 | 9.8 | 6.8 | 9.9 | 2.1 | 4.1 | 14.2 | 19.2 | 6.0 | 30 |
| General government; security repurchase agreements; asset | FA362051005 | 29.8 | -0.4 | 19.1 | 17.7 | 12.7 | 23.7 | 51.0 | -16.3 | 20.8 | 31 |
| General government; debt securities; asset | FA364022005 | 480.1 | 343.0 | 158.3 | 194.5 | 231.8 | 250.5 | 150.2 | 145.6 | 135.6 | 32 |
| State and local governments; commercial paper; asset | FA213069103 | 27.4 | 33.0 | 4.8 | -2.3 | 10.2 | -14.1 | 21.4 | -26.7 | 121.6 | 33 |
| State and local governments; Treasury securities, excluding SLGS; asset | FA213061103 | 441.6 | 229.4 | 118.6 | 145.3 | 200.8 | 173.6 | 67.6 | 139.2 | -18.4 | 34 |
| General government; agency- and GSE-backed securities; asset | FA363061705 | 10.5 | 30.4 | 22.5 | 28.5 | 23.1 | 42.0 | 45.0 | 3.8 | 15.5 | 35 |
| State and local governments; municipal securities; asset | FA213062003 | -1.2 | 5.0 | 3.3 | 4.3 | 4.8 | 5.6 | 6.6 | 0.2 | 6.8 | 36 |
| General government; corporate and foreign bonds; asset | FA363063005 | 1.7 | 45.2 | 9.1 | 18.8 | -7.1 | 43.4 | 9.6 | 29.1 | 10.0 | 37 |
| General government; loans; asset | FA364023005 | 153.8 | 144.9 | -123.4 | 95.6 | 90.2 | 150.0 | 154.7 | -12.4 | 115.4 | 38 |
| General government; total mortgages; asset | FA363065005 | -12.0 | 12.5 | -22.8 | 13.2 | 14.2 | 13.8 | 10.2 | 14.8 | 15.2 | 39 |
| Federal government; consumer credit, student loans; asset | FA313066220 | 55.4 | 51.0 | -25.1 | 55.8 | 78.9 | 47.4 | 82.2 | 14.6 | 63.0 | 40 |
| General government; other loans and advances; asset | FA363069005 | 110.5 | 81.5 | -75.4 | 26.6 | -2.8 | 88.8 | 62.2 | -41.8 | 37.1 | 41 |
| General government; corporate equities; asset | FA363064105 | -36.1 | 25.0 | -14.7 | -17.8 | -44.0 | -1.3 | -1.4 | -24.3 | 43.2 | 42 |
| Federal government; other equity; asset (IMA) | FA313081115 | -91.5 | -3.5 | -6.2 | -1.7 | 0.0 | -2.5 | 1.8 | -6.2 | -1.1 | 43 |
| State and local governments; mutual fund shares; asset | FA213064203 | -27.7 | 10.8 | -2.0 | -2.1 | -12.1 | 3.9 | 0.8 | -0.8 | 11.1 | 44 |
| General government; trade receivables; asset | FA363070005 | 45.5 | 34.3 | 32.4 | 11.1 | -20.7 | 21.3 | 20.4 | 23.5 | 28.8 | 45 |
| General government; taxes receivable; asset | FA363078005 | -22.0 | 5.8 | -0.8 | -6.4 | 103.6 | -237.0 | -96.1 | 204.0 | 93.5 | 46 |
| State and local governments; unidentified miscellaneous assets | FA213093003 | -12.6 | -18.9 | 20.9 | 17.9 | 24.3 | 19.2 | 41.3 | -13.3 | 16.8 | 47 |
| General government; total liabilities | FA364190005 | 1825.1 | 1604.4 | 2924.9 | 2484.8 | 2180.2 | 2381.0 | 2783.8 | 2594.3 | 1194.8 | 48 |
| Federal government; special drawing rights (SDRs) allocations; liability | FA313111303 | 112.8 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 49 |
| Federal government; Treasury currency; liability | FA313125003 | 0.4 | 0.5 | 1.2 | 0.5 | 0.7 | 0.7 | 0.4 | 0.1 | -0.4 | 50 |
| Federal government; postal savings system deposits; liability | FA313131003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 51 |
| General government; debt securities; liability | FA364122005 | 1682.0 | 1236.8 | 2404.3 | 2010.6 | 1788.5 | 1838.9 | 2302.9 | 2112.3 | 680.1 | 52 |
| Federal government; Treasury securities; liability | FA313161105 | 1611.4 | 1287.4 | 2381.6 | 1912.9 | 1689.4 | 1639.7 | 2164.8 | 2157.7 | 533.8 | 53 |
| Federal government; budget agency securities; liability | FA313161705 | -0.4 | 0.0 | 0.4 | 0.3 | -0.9 | 1.1 | 0.2 | 0.8 | 1.0 | 54 |
| State and local governments; municipal securities; liability | FA213162005 | 71.1 | -50.7 | 22.3 | 97.5 | 100.0 | 198.1 | 137.9 | -46.2 | 145.3 | 55 |
| General government; loans; liability | FA364123005 | 72.9 | 260.2 | 239.4 | 232.9 | 140.7 | 248.1 | 96.6 | 446.3 | 84.2 | 56 |
| Federal government; multifamily residential mortgages; liability | FA313165403 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 57 |
| General government; other loans and advances; liability | FA363169005 | 72.9 | 260.2 | 239.4 | 232.9 | 140.7 | 248.1 | 96.6 | 446.3 | 84.2 | 58 |
| Federal government; life insurance reserves; liability | FA313140003 | 0.3 | 0.4 | 1.3 | 2.2 | 3.7 | 0.0 | 4.2 | 0.8 | 4.5 | 59 |
| General government; trade payables; liability | FA363170005 | 115.9 | 56.0 | 153.2 | 104.2 | 44.3 | 121.1 | 109.4 | 141.8 | 116.6 | 60 |
| General government; total miscellaneous liabilities | FA363190005 | -159.3 | 50.6 | 125.4 | 134.4 | 202.3 | 172.2 | 270.2 | -106.9 | 309.8 | 61 |
| General government; sector discrepancy | FA367005005 | -384.1 | 57.4 | 389.6 | -10.2 | -564.0 | -115.3 | -97.6 | 736.3 | -433.9 | 62 |
| General government (consolidated); total financial assets (4) | FA374090005 | -1023.6 | 375.0 | 316.1 | 128.9 | 447.2 | 64.8 | 440.3 | -436.5 | -539.1 | 63 |
| General government (consolidated); total liabilities (4) | FA374190005 | 1390.2 | 1379.1 | 2810.4 | 2326.9 | 1968.3 | 2137.3 | 2664.0 | 2538.2 | 1247.5 | 64 |
NOTES
- Sum of the federal government and state and local governments sectors.
- Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves. Saving transferred to the households and nonprofit organizations sector. Includes value of Treasury and agency- and GSE-backed securities held by state and local government employee retirement funds.
- Table F.5, line 63 less line 12.
- Excludes Treasury securities and municipal securities held by state and local governments (lines 34 and 36) and federal government loans to state and local governments (line 58).
Last Update: June 12, 2025