S.7.a Federal Government (1)
Billions of dollars
Description Series code 2017 2018 2019 2020 2021 2022 2023 2024 Line
Federal government; gross value added (IMA) FA316902505 772.8 803.1 823.8 866.8 909.8 956.8 1010.3 1062.7 1
Federal government; consumption of fixed capital, structures, equipment, and intellectual property products, current cost basis (NIPA basis) FA316300001 280.2 290.1 298.9 310.5 328.7 357.9 378.2 397.9 2
Federal government; net value added (IMA) FA316902605 492.6 513.0 525.0 556.3 581.1 598.9 632.1 664.8 3
Federal government; compensation of employees paid (IMA) FA316025001 489.5 509.6 523.6 550.5 573.9 594.1 634.9 673.3 4
Federal government; wages and salaries paid (IMA) FA316020001 344.1 357.3 365.5 381.8 393.0 404.8 432.3 ND 5
Federal government; employers' social contributions paid (IMA) FA316401005 145.4 152.4 158.1 168.7 181.0 189.3 202.6 ND 6
Federal government; operating surplus, net FA316402101 3.1 3.3 1.4 5.9 7.1 4.8 -2.9 -8.5 7
Federal government; net national income/balance of primary incomes, net (IMA) FA316140005 -262.6 -314.9 -363.2 -939.0 -853.2 -531.6 -823.6 -959.8 8
Federal government; operating surplus, net FA316402101 3.1 3.3 1.4 5.9 7.1 4.8 -2.9 -8.5 9
Federal government; taxes on production and imports, receivable (IMA) FA316240001 131.4 163.5 174.9 155.3 180.6 201.6 174.2 178.4 10
Federal government; subsidies paid (with negative sign) (IMA) FA316402015 -59.3 -62.7 -72.4 -697.9 -606.8 -127.3 -102.1 -93.8 11
Federal government; property income (received) FA316150195 138.9 121.7 110.0 118.7 139.9 114.1 47.0 65.5 12
Federal government; interest received (IMA) FA316130101 29.2 34.8 37.8 26.2 21.6 21.1 32.1 47.2 13
Federal government; dividends received (IMA) FA316121185 103.7 79.0 63.8 87.0 109.2 76.1 0.1 3.3 14
Federal government; rents on land and natural resources received (IMA) FA316112101 6.1 7.9 8.3 5.4 9.1 16.8 14.8 15.0 15
Federal government; interest paid (IMA) FA316130095 476.7 540.6 577.2 521.0 574.1 724.8 939.9 1101.4 16
Federal government; net national income/balance of primary incomes, net (IMA) FA316140005 -262.6 -314.9 -363.2 -939.0 -853.2 -531.6 -823.6 -959.8 17
Federal government; current taxes on income, wealth, etc. received (IMA) FA316220001 1868.4 1865.0 1938.1 1993.7 2490.5 3042.1 2742.0 2921.5 18
Federal government; contributions for government social insurance received FA316601001 1284.3 1346.6 1409.5 1435.0 1543.0 1688.0 1801.3 1878.3 19
Federal government; social contributions paid FA316404001 2119.6 2217.6 2352.0 3399.4 3685.9 3014.3 3097.2 3298.0 20
Federal government; other current transfers received FA316403105 77.6 83.0 70.5 58.6 62.7 70.1 72.3 81.3 21
Federal government; other current transfers paid (IMA) FA316403001 606.4 634.1 659.4 932.4 1173.1 1041.8 1041.0 1050.8 22
Federal government; disposable income, net (IMA) FA316012005 241.7 128.0 43.5 -1783.5 -1616.0 212.6 -346.2 -427.6 23
Federal government; consumption expenditures FA316901001 978.5 1034.4 1087.2 1157.3 1222.8 1232.9 1320.2 1405.9 24
Federal government; net saving including net capital transfers paid, insurance and pension fund reserves adjustment and contributions for government social insurance for U.S. affiliated areas (IMA) FA316006085 -736.8 -906.4 -1043.8 -2940.8 -2838.8 -1020.3 -1666.4 -1833.5 25
Federal government; net saving less net capital transfers paid and including insurance and pension fund reserves adjustment and contributions for government social insurance for U.S. affiliated areas (IMA) FA316006385 -572.3 -967.0 -1122.8 -3014.2 -2954.9 -1207.1 -1916.3 -1993.8 26
Federal government; net saving including net capital transfers paid, insurance and pension fund reserves adjustment and contributions for government social insurance for U.S. affiliated areas (IMA) FA316006085 -736.8 -906.4 -1043.8 -2940.8 -2838.8 -1020.3 -1666.4 -1833.5 27
Federal government; net capital transfers paid FA315440005 -164.5 60.6 79.0 73.4 116.1 186.8 249.9 160.4 28
Federal government; capital formation, net (IMA) FA315050905 5.1 20.1 31.5 52.4 42.7 -57.9 63.5 63.5 29
Federal government; gross fixed investment (NIPA basis) FA315019001 287.6 311.9 332.3 365.7 380.4 408.2 442.4 461.8 30
Federal government; consumption of fixed capital, structures, equipment, and intellectual property products, current cost basis (NIPA basis) FA316300001 280.2 290.1 298.9 310.5 328.7 357.9 378.2 397.9 31
Federal government; acquisition of nonproduced nonfinancial assets (net) FA315420003 -2.2 -1.6 -1.9 -2.9 -9.0 -108.2 -0.8 -0.4 32
Federal government; net lending (+) or borrowing (-) (capital account) FA315000995 -577.4 -987.2 -1154.3 -3066.6 -2997.5 -1149.2 -1979.8 -2057.3 33
Federal government; net lending (+) or borrowing (-) (capital account) FA315000995 -577.4 -987.2 -1154.3 -3066.6 -2997.5 -1149.2 -1979.8 -2057.3 34
Federal government; total financial assets FA314090005 114.6 324.4 72.2 1726.2 -1186.6 163.8 233.4 42.5 35
Federal government; monetary gold and SDRs; asset FA313011105 0.1 0.2 0.2 0.1 113.7 5.0 4.6 5.1 36
Federal government; monetary gold; asset FA313011203 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37
Federal government; special drawing rights (SDRs) holdings; asset FA313011303 0.1 0.2 0.2 0.1 113.7 5.0 4.6 5.1 38
Federal government; total currency and deposits; asset FA314000005 -171.6 178.5 5.6 1333.8 -1322.1 42.4 316.6 -52.0 39
Federal government; checkable deposits; asset FA313020005 -170.2 173.5 1.0 1326.3 -1323.6 42.6 321.2 -49.0 40
Federal government; total time and savings deposits; asset FA313030003 0.4 0.1 0.3 -1.3 1.1 -1.0 0.1 0.3 41
Federal government; other deposits; asset FA313030505 -1.8 4.8 4.3 8.8 0.4 0.8 -4.7 -3.3 42
Federal government; debt securities; asset FA314022005 0.0 0.0 0.1 0.1 -0.0 0.0 -0.0 -0.1 43
Federal government; agency- and GSE-backed securities; asset FA313061703 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44
Federal government; corporate and foreign bonds; asset FA313063005 0.0 0.0 0.1 0.1 -0.0 0.0 -0.0 -0.1 45
Federal government; total loans including security repurchase agreements; asset FA314035005 95.7 99.2 93.5 254.1 177.9 155.5 -84.1 103.3 46
Federal government; loans, excluding mortgages; asset FA314041005 95.6 95.7 92.9 250.7 171.9 142.1 -92.2 95.4 47
Federal government; other U.S. reserves, other claims (repurchase agreements); asset FA313011545 0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 48
Federal government; consumer credit, student loans; asset FA313066220 96.3 90.7 83.0 61.7 55.4 51.0 -25.1 55.8 49
Federal government; other loans and advances; asset FA313069005 -0.7 5.0 9.9 189.0 116.6 91.2 -67.0 39.6 50
Federal government; total mortgages; asset FA313065005 0.1 3.4 0.7 3.4 6.0 13.4 8.1 7.9 51
Federal government; equity and investment fund shares excluding mutual fund shares and money market fund shares; asset (IMA) FA313081105 1.4 5.3 1.4 115.8 -91.6 -3.5 -6.2 -1.7 52
Federal government; corporate equities; asset FA313064105 -0.1 4.0 0.0 0.0 -0.0 0.0 0.0 0.0 53
Federal government; U.S. equity in International Bank for Reconstruction and Development (IBRD), etc.; asset FA313092803 1.5 1.3 1.4 1.8 1.2 2.4 1.8 2.2 54
Federal government; equity in government-sponsored enterprises (GSEs); asset (2) FA313092403 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55
Federal government; equity investment in funding corporations under PPIP; asset FA313094303 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56
Federal government; Total Exchange Stabilization Fund Economic Recovery Programs investments in Federal Reserve credit facilities; asset FA313094205 0.0 0.0 0.0 114.0 -92.7 -5.9 -8.0 -3.9 57
Federal government; other accounts receivable; asset (IMA) FA313096005 189.0 41.3 -28.6 22.4 -64.5 -35.6 2.4 -12.1 58
Federal government; trade receivables; asset FA313070000 0.1 10.4 -1.9 11.3 10.6 -0.1 12.8 4.3 59
Federal government; total taxes receivable; asset FA313078000 188.9 30.9 -26.7 11.1 -75.2 -35.5 -10.4 -16.4 60
Federal government; total liabilities FA314190005 635.6 1295.0 1185.0 5018.5 1447.0 1338.2 2573.1 2051.5 61
Federal government; special drawing rights (SDRs) allocations; liability FA313111303 0.0 0.0 0.0 0.0 112.8 0.0 0.0 0.0 62
Federal government; total currency and deposits; liability FA314100005 0.8 0.4 0.3 0.4 0.4 0.5 1.2 0.5 63
Federal government; debt securities; liability FA314122005 554.3 1130.2 1061.0 4316.2 1611.0 1287.5 2382.0 1913.2 64
Federal government; total marketable Treasury securities; liability FA313161105 554.4 1131.6 1062.7 4317.3 1611.4 1287.4 2381.6 1912.9 65
Federal government; budget agency securities; liability FA313161705 -0.1 -1.5 -1.7 -1.0 -0.4 0.0 0.4 0.3 66
Federal government; loans; liability FA314123005 44.3 127.9 113.9 264.9 72.5 259.4 238.5 231.7 67
Federal government; insurance, pension and standardized guarantee schemes; liability (IMA) FA313152005 15.3 -39.1 -27.3 -27.0 -72.6 -124.7 -156.3 -150.3 68
Federal government; life insurance reserves; liability FA313140003 -0.2 0.2 0.9 0.2 0.3 0.4 1.3 2.2 69
Federal government; retiree health care funds; liability FA313195105 9.6 13.9 14.4 8.2 21.4 38.5 29.8 25.8 70
Federal government defined benefit retirement funds; claims of pension funds on sponsor; asset FA343073045 6.0 -53.2 -42.6 -35.4 -94.3 -163.6 -187.5 -178.3 71
Federal government; other accounts payable; liability (IMA) FA313196005 20.7 75.6 37.2 463.9 -277.1 -84.5 107.7 56.4 72
Monetary authority; monetary gold certificates; asset FA713011203 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 73
Monetary authority; SDR certificates issued by federal government; asset FA713014003 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10.0 74
Federal government; trade payables; liability FA313170005 17.5 74.0 33.3 35.0 57.8 -9.7 84.9 31.4 75
Federal government; Paycheck Protection Program payables; liability FA313172003 0.0 0.0 0.0 432.7 -332.6 -97.1 -3.0 0.0 76
Federal government; unidentified miscellaneous liabilities, including liability due to FICO FA313193005 3.2 1.6 3.9 -3.8 -2.3 22.3 25.9 15.0 77
Federal government; net lending (+) or borrowing (-) (financial account) FA315000005 -521.0 -970.6 -1112.8 -3292.3 -2633.6 -1174.4 -2339.7 -2009.0 78
Federal government; total other volume changes (IMA) FV318090185 129.2 -0.2 -47.9 -184.0 494.5 107.2 -410.8 92.9 79
Federal government; nonfinancial assets (does not include land) FV312010095 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80
Federal government; other volume changes (IMA) FV318090085 72.8 -16.8 -89.4 41.7 130.6 132.3 -50.9 44.6 81
Federal government; statistical discrepancy (IMA) (3) FU317005045 -56.5 -16.6 -41.5 225.7 -364.0 25.1 359.9 -48.3 82
Federal government; nonfinancial assets (does not include land) FR312010095 90.1 102.8 46.1 91.1 291.3 288.3 75.5 95.9 83
Federal government; total residential and nonresidential structures FR315015605 57.0 68.4 39.0 54.1 206.3 197.9 35.5 36.1 84
Federal government; nonresidential equipment, current cost basis FR315013265 7.5 12.5 7.2 6.2 42.8 41.2 22.3 17.2 85
Federal government; nonresidential intellectual property products, current cost basis FR315013765 25.6 21.9 -0.1 30.8 42.2 49.2 17.6 42.7 86
Federal government; total financial assets FR314090005 41.9 -8.8 61.2 101.0 -25.4 -7.7 70.8 133.2 87
Federal government; monetary gold and SDRs; asset FR313011105 40.8 -4.4 61.4 99.6 -24.4 -6.0 70.5 134.0 88
Federal government; total currency and deposits; asset FR314000005 3.2 0.8 1.1 0.4 -0.1 0.1 0.0 -0.5 89
Federal government; other U.S. reserves, other claims (repurchase agreements); asset FR313011545 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 90
Federal government; corporate and foreign bonds; asset FR313063005 -2.1 -1.3 -1.2 1.0 -0.9 -1.8 0.2 -0.3 91
Federal government; other loans and advances; asset FR313069005 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 92
Federal government; corporate equities; asset FR313064105 0.0 -4.0 0.0 0.0 0.0 0.0 0.0 0.0 93
Federal government; equity investment in funding corporations under PPIP; asset FR313094303 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 94
Federal government; total liabilities FR314190005 -0.9 -3.0 -4.2 6.1 -0.7 -30.2 -24.6 -19.4 95
Federal government; special drawing rights (SDRs) allocations; liability FR313111303 2.8 -1.2 -0.3 2.0 -2.9 -7.9 1.2 -4.3 96
Federal government; miscellaneous liabilities, excluding claims of pension funds FR313190015 -3.7 -1.8 -3.9 4.0 2.3 -22.3 -25.9 -15.0 97
Federal government; net worth (IMA) FR312090095 132.9 97.1 111.5 186.1 266.6 310.9 170.9 248.5 98
Federal government; net worth (IMA) FC312090095 -310.2 -870.2 -1059.2 -3012.1 -2193.7 -789.0 -2156.3 -1652.4 99
Federal government; total assets (does not include land) FL312000095 6164.4 6603.1 6761.0 8785.8 8042.4 8557.6 8944.5 9324.3 100
Federal government; nonfinancial assets (does not include land) (4) LM312010095 3422.7 3547.2 3626.7 3773.1 4116.1 4454.7 4594.5 4754.3 101
Federal government; total residential and nonresidential structures LM315015605 1603.3 1663.1 1696.3 1748.0 1946.0 2135.4 2166.7 2199.2 102
Federal government; nonresidential equipment, current cost basis LM315013265 765.9 790.3 817.8 846.9 906.0 955.2 987.1 1012.3 103
Federal government; nonresidential intellectual property products, current cost basis LM315013765 1053.5 1093.8 1112.6 1178.2 1264.1 1364.2 1440.7 1542.8 104
Federal government; total financial assets FL314090005 2741.7 3055.9 3134.3 5012.7 3926.2 4102.9 4350.0 4570.0 105
Federal government; monetary gold and SDRs; asset FL313011105 389.5 385.3 446.9 546.5 635.9 634.8 710.0 849.2 106
Federal government; monetary gold; asset LM313011203 337.6 334.5 396.1 493.6 472.2 474.3 543.5 682.3 107
Federal government; special drawing rights (SDRs) holdings; asset LM313011303 51.9 50.8 50.7 52.9 163.6 160.5 166.5 166.9 108
Federal government; total currency and deposits; asset FL314000005 267.1 446.4 453.1 1787.3 465.1 507.7 825.0 769.6 109
Federal government; checkable deposits; asset FL313020005 232.0 405.9 407.2 1732.1 410.3 454.7 776.0 728.4 110
Federal government; total time and savings deposits; asset FL313030003 1.9 2.0 2.3 1.0 2.1 1.1 1.2 1.5 111
Federal government; other deposits; asset FL313030505 33.3 38.5 43.6 54.2 52.7 51.8 47.8 39.7 112
Federal government; debt securities; asset FL314022005 9.0 7.7 6.6 7.7 6.7 4.9 4.4 7.0 113
Federal government; agency- and GSE-backed securities; asset FL313061703 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 114
Federal government; corporate and foreign bonds; asset FL313063005 9.0 7.7 6.6 7.7 6.7 4.9 4.4 7.0 115
Federal government; total loans including security repurchase agreements; asset FL314035005 1481.2 1580.4 1673.9 1928.0 2105.9 2282.9 2198.8 2302.0 116
Federal government; loans, excluding mortgages; asset FL314041005 1361.5 1457.3 1550.1 1800.9 1972.8 2114.9 2022.8 2118.1 117
Federal government; other U.S. reserves, other claims (repurchase agreements); asset LM313011545 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 118
Federal government; consumer credit, student loans; asset FL313066220 1145.6 1236.3 1319.2 1381.0 1436.4 1487.3 1462.2 1518.0 119
Federal government; other loans and advances; asset FL313069005 216.0 221.0 230.9 419.9 536.4 627.6 560.6 600.1 120
Federal government; total mortgages; asset FL313065005 119.7 123.1 123.8 127.1 133.1 167.9 176.0 183.9 121
Federal government; equity and investment fund shares excluding mutual fund shares and money market fund shares; asset (IMA) FL313081105 98.0 99.3 100.6 216.5 124.9 121.4 115.3 113.6 122
Federal government; corporate equities; asset LM313064105 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 123
Federal government; U.S. equity in International Bank for Reconstruction and Development (IBRD), etc.; asset FL313092803 64.8 66.1 67.5 69.3 70.5 72.9 74.7 77.0 124
Federal government; equity in government-sponsored enterprises (GSEs); asset (2) FL313092403 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 125
Federal government; equity investment in funding corporations under PPIP; asset LM313094303 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 126
Federal government; Total Exchange Stabilization Fund Economic Recovery Programs investments in Federal Reserve credit facilities; asset FL313094205 0.0 0.0 0.0 114.0 21.3 15.4 7.4 3.5 127
Federal government; other accounts receivable; asset (IMA) FL313096005 496.9 536.8 453.2 526.8 587.7 551.2 496.6 528.6 128
Federal government; trade receivables; asset FL313070000 65.0 75.4 73.5 84.9 95.5 95.4 108.2 112.5 129
Federal government; total taxes receivable; asset FL313078000 431.9 461.4 379.7 441.9 492.2 455.8 388.4 416.1 130
Federal government; total assets (does not include land) FL312000095 6164.4 6603.1 6761.0 8785.8 8042.4 8557.6 8944.5 9324.3 131
Federal government; total liabilities FL314190005 19064.4 20373.4 21590.5 26627.4 28077.6 29381.9 31925.0 33957.2 132
Federal government; special drawing rights (SDRs) allocations; liability FL313111303 50.3 49.1 48.8 50.9 160.8 152.9 154.1 149.8 133
Federal government; total currency and deposits; liability FL314100005 49.4 49.8 50.1 50.5 50.8 51.4 52.6 53.1 134
Federal government; debt securities; liability FL314122005 14459.0 15589.2 16650.1 20966.4 22577.3 23864.8 26246.7 28159.9 135
Federal government; total marketable Treasury securities; liability FL313161105 14434.6 15566.2 16628.9 20946.2 22557.5 23845.0 26226.6 28139.5 136
Federal government; budget agency securities; liability FL313161705 24.4 22.9 21.2 20.2 19.8 19.8 20.2 20.5 137
Federal government; loans; liability FL314123005 2148.0 2275.9 2389.8 2654.7 2727.2 2986.6 3225.1 3456.8 138
Federal government; insurance, pension and standardized guarantee schemes; liability (IMA) FL313152005 2033.2 2011.1 2020.1 2005.4 1936.8 1808.4 1646.7 1496.4 139
Federal government; life insurance reserves; liability FL313140003 51.1 51.3 52.2 52.4 52.6 53.0 54.3 56.5 140
Federal government; retiree health care funds; liability FL313195105 287.1 301.0 315.4 323.6 345.1 383.6 413.4 439.1 141
Federal government defined benefit retirement funds; claims of pension funds on sponsor; asset FL343073045 1695.0 1658.8 1652.5 1629.4 1539.1 1371.8 1179.0 1000.8 142
Federal government; other accounts payable; liability (IMA) FL313196005 324.6 398.3 431.6 899.6 624.8 517.9 599.8 641.2 143
Monetary authority; monetary gold certificates; asset FL713011203 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 144
Monetary authority; SDR certificates issued by federal government; asset FL713014003 5.2 5.2 5.2 5.2 5.2 5.2 5.2 15.2 145
Federal government; trade payables; liability FL313170005 308.2 382.3 415.5 450.6 508.4 498.7 583.6 615.0 146
Federal government; Paycheck Protection Program payables; liability FL313172003 0.0 0.0 0.0 432.7 100.1 3.0 0.0 0.0 147
Federal government; liability due to FICO FL313193013 0.1 -0.2 -0.2 0.0 0.0 0.0 0.0 0.0 148
Federal government; net worth (IMA) FL312090095 -12900.0 -13770.2 -14829.5 -17841.5 -20035.2 -20824.3 -22980.5 -24632.9 149

NOTES

  1. The federal government sector excludes federal government employee retirement funds.
  2. Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the 2004:Q4.
  3. The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.
  4. Excludes land and nonproduced nonfinancial assets.
Last Update: September 11, 2025