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 | 2022 | 2023 | 2024 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| General government; current receipts, NIPA basis | FA366010115 | 8804.9 | 8466.2 | 8969.8 | 8889.6 | 9029.0 | 9172.1 | 9264.5 | 9527.3 | 9738.7 | 1 |
| General government; personal current taxes | FA366210005 | 3243.3 | 2835.7 | 2988.2 | 2957.6 | 3019.1 | 3072.9 | 3154.0 | 3200.9 | 3254.4 | 2 |
| General government; taxes on production and imports, receivable (IMA) | FA366240005 | 1834.5 | 1861.0 | 1954.7 | 1943.2 | 1965.9 | 1988.0 | 2014.4 | 2203.1 | 2289.6 | 3 |
| General government; taxes on corporate income (accrual basis) | FA366231005 | 586.1 | 597.8 | 663.7 | 665.8 | 660.7 | 682.8 | 653.6 | 652.7 | 675.2 | 4 |
| Federal government; taxes from the rest of the world | FA316231061 | 34.1 | 36.0 | 38.9 | 39.6 | 38.0 | 40.9 | 40.0 | 42.8 | 40.5 | 5 |
| General government; contributions for government social insurance received | FA366601005 | 1710.4 | 1807.1 | 1929.6 | 1919.4 | 1941.8 | 1965.9 | 2002.6 | 2011.8 | 2027.7 | 6 |
| General government; property income (received) | FA366150105 | 204.6 | 168.3 | 196.3 | 194.3 | 199.0 | 202.7 | 213.6 | 215.0 | 219.7 | 7 |
| General government; other current transfers received | FA366403105 | 1207.9 | 1207.1 | 1245.9 | 1217.3 | 1250.6 | 1267.1 | 1234.7 | 1253.4 | 1284.4 | 8 |
| General government; operating surplus, net | FA366402105 | -16.0 | -46.9 | -47.5 | -47.6 | -46.2 | -48.2 | -48.3 | -52.4 | -52.9 | 9 |
| General government; current expenditures | FA366900015 | 9741.1 | 10310.7 | 11022.9 | 10905.2 | 11164.9 | 11273.7 | 11369.9 | 11608.5 | 11789.9 | 10 |
| General government; consumption expenditures | FA366901005 | 3563.5 | 3765.9 | 3991.8 | 3959.5 | 4021.9 | 4071.4 | 4104.9 | 4132.0 | 4207.0 | 11 |
| General government; social contributions paid | FA366404005 | 4041.8 | 4182.5 | 4490.0 | 4459.1 | 4527.9 | 4593.2 | 4722.2 | 4890.3 | 4939.9 | 12 |
| General government; other current transfers paid | FA366403005 | 1041.1 | 1041.6 | 1049.2 | 1009.9 | 1099.6 | 1084.0 | 1016.9 | 1033.3 | 1050.3 | 13 |
| General government; interest paid | FA366130005 | 966.7 | 1218.5 | 1397.6 | 1383.0 | 1422.8 | 1430.4 | 1418.3 | 1433.0 | 1468.4 | 14 |
| General government; subsidies paid | FA366402005 | 128.0 | 102.3 | 94.2 | 93.7 | 92.8 | 94.7 | 107.7 | 120.0 | 124.2 | 15 |
| General government; net saving including net capital transfers paid | FA366006005 | -936.2 | -1844.5 | -2053.2 | -2015.6 | -2136.0 | -2101.6 | -2105.4 | -2081.2 | -2051.2 | 16 |
| General government; consumption of fixed capital, structures, equipment, and intellectual property products, current cost basis (NIPA basis) | FA366300005 | 729.0 | 770.3 | 803.8 | 797.9 | 808.9 | 819.7 | 830.8 | 840.6 | 854.5 | 17 |
| Federal government; life insurance and pension fund reserves, adjustment to convert NIPA to FOF savings; liability (2) | FA313154015 | -2.6 | -1.4 | -1.1 | -1.4 | -0.7 | 0.1 | -2.0 | -1.8 | -0.6 | 18 |
| General government; net capital transfers paid excluding payments under the financial stabilization program (3) | FA365440095 | -42.8 | 154.4 | 47.2 | 34.3 | 79.3 | 31.7 | 6.5 | -17.5 | -20.2 | 19 |
| General government; gross saving less net capital transfers paid | FA366000105 | -161.8 | -1227.2 | -1295.4 | -1250.7 | -1405.7 | -1313.8 | -1279.2 | -1221.2 | -1175.9 | 20 |
| General government; gross investment | FA365090005 | -197.7 | -1590.0 | -1190.3 | -573.4 | -1378.4 | -1622.5 | -1500.2 | -227.2 | -1459.0 | 21 |
| General government; gross fixed investment | FA365019005 | 894.7 | 975.3 | 1049.3 | 1035.6 | 1065.0 | 1079.3 | 1090.6 | 1105.0 | 1116.1 | 22 |
| General government; acquisition of nonproduced nonfinancial assets (net) | FA365420005 | -90.3 | 18.8 | 20.5 | 19.5 | 20.8 | 21.5 | 21.7 | 22.2 | 22.5 | 23 |
| General government; net lending (+) or borrowing (-) (financial account) | FA365000005 | -1002.1 | -2584.0 | -2260.1 | -1628.6 | -2464.3 | -2723.3 | -2612.5 | -1354.5 | -2597.5 | 24 |
| General government; total financial assets | FA364090005 | 613.2 | 334.1 | 233.6 | 145.3 | 685.0 | -290.7 | -856.1 | 388.2 | 2123.0 | 25 |
| Federal government; monetary gold and SDRs; asset | FA313011105 | 5.0 | 4.6 | 5.1 | 4.2 | 5.9 | 2.7 | 1.4 | -5.2 | -1.0 | 26 |
| General government; checkable deposits and currency; asset | FA363020005 | 57.4 | 336.3 | -34.0 | -18.9 | 435.3 | -595.9 | -1236.5 | 200.7 | 1718.1 | 27 |
| General government; total time and savings deposits; asset | FA363030005 | -13.4 | 3.9 | 0.0 | 4.6 | -21.0 | -21.3 | 10.4 | -4.7 | -47.7 | 28 |
| Federal government; other deposits; asset | FA313030505 | 3.3 | 3.8 | 12.3 | 13.2 | 9.2 | 8.5 | 25.2 | 17.4 | 12.8 | 29 |
| State and local governments; money market fund shares; asset | FA213034003 | 9.8 | 6.8 | 9.9 | 4.1 | 14.2 | 19.2 | 6.0 | 2.3 | 14.2 | 30 |
| General government; security repurchase agreements; asset | FA362051005 | -0.4 | 12.2 | 8.9 | 15.7 | 39.3 | -22.7 | 12.6 | 26.0 | 25.4 | 31 |
| General government; debt securities; asset | FA364022005 | 341.3 | 87.9 | 106.1 | 168.2 | 52.9 | 66.0 | 38.6 | 293.0 | 118.6 | 32 |
| State and local governments; commercial paper; asset | FA213069103 | 33.0 | 3.4 | -0.2 | -14.0 | 21.4 | -20.3 | 92.9 | 56.4 | -44.7 | 33 |
| State and local governments; Treasury securities, excluding SLGS; asset | FA213061103 | 228.2 | 73.5 | 85.2 | 119.6 | 4.7 | 81.1 | -61.1 | 161.2 | 109.6 | 34 |
| General government; agency- and GSE-backed securities; asset | FA363061705 | 30.2 | 9.3 | 11.7 | 26.7 | 25.4 | -10.7 | 1.6 | 43.3 | 38.7 | 35 |
| State and local governments; municipal securities; asset | FA213062003 | 5.0 | 1.9 | 2.4 | 3.9 | 4.4 | -1.4 | 4.9 | 7.0 | 0.9 | 36 |
| General government; corporate and foreign bonds; asset | FA363063005 | 45.0 | -0.2 | 6.9 | 32.0 | -3.0 | 17.3 | 0.2 | 25.0 | 14.2 | 37 |
| General government; loans; asset | FA364023005 | 144.8 | -123.4 | 115.7 | 149.0 | 153.8 | 69.7 | 112.7 | 139.9 | 64.5 | 38 |
| General government; total mortgages; asset | FA363065005 | 12.5 | -22.8 | 13.2 | 13.8 | 10.2 | 14.8 | 9.9 | 9.5 | 9.8 | 39 |
| Federal government; consumer credit, student loans; asset | FA313066220 | 51.0 | -25.1 | 55.8 | 47.4 | 82.2 | 14.6 | 63.0 | 86.5 | 71.3 | 40 |
| General government; other loans and advances; asset | FA363069005 | 81.4 | -75.4 | 46.6 | 87.8 | 61.3 | 40.2 | 39.8 | 43.9 | -16.6 | 41 |
| General government; corporate equities; asset | FA363064105 | 24.8 | -18.5 | -21.9 | -5.5 | -6.9 | -27.3 | 36.0 | -43.2 | 7.8 | 42 |
| Federal government; other equity; asset (IMA) | FA313081115 | -3.5 | -6.2 | -1.7 | -2.5 | 1.8 | -6.2 | 0.4 | 0.2 | 7.3 | 43 |
| State and local governments; mutual fund shares; asset | FA213064203 | 10.7 | -4.0 | -4.4 | 1.7 | -1.9 | -3.0 | 8.3 | -13.0 | -6.6 | 44 |
| General government; trade receivables; asset | FA363070005 | 34.3 | 32.4 | 18.2 | 27.1 | 43.9 | 21.8 | 45.0 | 49.5 | 18.7 | 45 |
| General government; taxes receivable; asset | FA363078005 | 18.0 | -17.2 | 8.6 | -228.4 | -73.2 | 216.3 | 73.6 | -295.9 | 170.5 | 46 |
| State and local governments; unidentified miscellaneous assets | FA213093003 | -18.8 | 15.3 | 10.6 | 12.7 | 31.8 | -18.4 | 10.2 | 21.1 | 20.3 | 47 |
| General government; total liabilities | FA364190005 | 1615.3 | 2918.1 | 2493.7 | 1773.8 | 3149.3 | 2432.6 | 1756.4 | 1742.6 | 4720.5 | 48 |
| Federal government; special drawing rights (SDRs) allocations; liability | FA313111303 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 49 |
| Federal government; Treasury currency; liability | FA313125003 | 0.5 | 1.2 | 0.5 | 0.7 | 0.4 | 0.1 | -0.4 | 0.7 | -2.0 | 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 | 1237.2 | 2405.3 | 2011.4 | 1220.4 | 2662.5 | 1921.1 | 1202.7 | 1207.7 | 4183.8 | 52 |
| Federal government; total marketable Treasury securities; liability | FA313161105 | 1287.4 | 2381.6 | 1912.9 | 1020.5 | 2523.9 | 1966.6 | 1056.2 | 921.8 | 3988.7 | 53 |
| Federal government; budget agency securities; liability | FA313161705 | 0.0 | 0.4 | 0.3 | 1.1 | 0.2 | 0.8 | 1.0 | 1.8 | 3.7 | 54 |
| State and local governments; municipal securities; liability | FA213162005 | -50.3 | 23.3 | 98.2 | 198.8 | 138.4 | -46.3 | 145.5 | 284.0 | 191.4 | 55 |
| General government; loans; liability | FA364123005 | 269.2 | 231.9 | 227.1 | 152.2 | 306.2 | 416.0 | 1.0 | -436.7 | 973.6 | 56 |
| State and local governments; depository institution loans n.e.c.; liability | FA213168003 | 9.0 | -7.5 | -5.8 | -0.0 | -6.7 | 8.3 | 0.1 | 14.9 | 6.0 | 57 |
| General government; other loans and advances; liability | FA363169005 | 260.2 | 239.4 | 232.9 | 152.2 | 312.9 | 407.7 | 0.9 | -451.6 | 967.6 | 58 |
| 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 | 59 |
| Federal government; life insurance reserves; liability | FA313140003 | 0.4 | 1.3 | 2.2 | 0.0 | 4.2 | 0.8 | 4.5 | 0.3 | 4.9 | 60 |
| General government; trade payables; liability | FA363170005 | 56.7 | 154.3 | 104.3 | 121.1 | 108.9 | 142.1 | 114.6 | 135.0 | 145.0 | 61 |
| General government; total miscellaneous liabilities | FA363190005 | 51.4 | 124.1 | 148.2 | 279.4 | 67.0 | -47.4 | 434.0 | 835.7 | -584.8 | 62 |
| General government; sector discrepancy | FA367005005 | 36.0 | 362.8 | -105.2 | -677.3 | -27.2 | 308.8 | 221.0 | -994.0 | 283.0 | 63 |
| General government (consolidated); total financial assets (4) | FA374090005 | 389.1 | 266.1 | 137.6 | -42.7 | 630.4 | -287.2 | -758.7 | 170.4 | 2023.5 | 64 |
| General government (consolidated); total liabilities (4) | FA374190005 | 1391.2 | 2850.1 | 2397.7 | 1585.8 | 3094.7 | 2436.1 | 1853.8 | 1524.9 | 4621.0 | 65 |
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: January 9, 2026