(In billions)

Year Ended September 30,

2016

2015

2010

2005

2000

1990

1980

As reported

Revenue

$

5,097

$

5,168

$

3,931

$

3,640

$

3,214

$

1,638

$

770

Expenditures

$

5,852

$

5,658

$

5,130

$

3,826

$

2,804

$

1,817

$

833

Surplus (deficit)

$

(755

)

$

(490

)

$

(1,199

)

$

(186

)

$

410

$

(179

)

$

(63

)

Cash, cash equivalents, and short-term investments ¹

$

1,180

$

1,010

$

967

$

506

$

479

$

298

$

128

Total assets ¹

$

21,633

$

21,095

$

17,337

$

13,145

$

10,281

$

5,591

$

2,863

Total liabilities ¹

$

29,110

$

27,914

$

20,966

$

13,833

$

9,430

$

5,531

$

2,150

Net worth ¹

$

(7,477

)

$

(6,819

)

$

(3,629

)

$

(688

)

$

851

$

30

$

713

Adjusted for inflation ²

Revenue

$

5,097

$

5,216

$

4,321

$

4,495

$

4,497

$

3,041

$

2,300

Expenditures

$

5,852

$

5,711

$

5,639

$

4,724

$

3,924

$

3,373

$

2,488

Surplus (deficit)

$

(755

)

$

(495

)

$

(1,318

)

$

(229

)

$

573

$

(332

)

$

(188

)

Cash, cash equivalents, and short-term investments ¹

$

1,180

$

1,019

$

1,063

$

625

$

670

$

553

$

382

Total assets ¹

$

21,633

$

21,291

$

19,057

$

16,231

$

14,386

$

10,380

$

8,550

Total liabilities ¹

$

29,110

$

28,173

$

23,047

$

17,081

$

13,195

$

10,324

$

6,421

Net worth ¹

$

(7,477

)

$

(6,882

)

$

(3,989

)

$

(850

)

$

1,191

$

56

$

2,129

¹

Balance sheet figures shown here are sourced from the Federal Reserve. The balance sheets that we use in all other sections of this document are sourced as described in About This Report, Structure and content, Sources of data, Financial statement and related data at the beginning of this report. Because Item 6 requires us to show more years of financial information than elsewhere in this report, the figures that we show here are sourced from the Federal Reserve as this is the only source of which we are aware that provides an extended time series of combined balance sheet data. Key differences in the balance sheets from the two sources are that the Federal Reserve does not appear to include in its data: TARP investments, inventories and related property, investments in GSEs, or land in their assets or environmental and disposal liabilities, benefits due and payable, loan guarantee liabilities, or other liabilities in their liabilities. They also appear to account for Treasury securities, property, plant, and equipment, and employee and veteran benefits payable on different bases.

²

To show the financial highlights in “real” terms, we have calculated and reported inflation-adjusted amounts. The inflation adjustment factors are based on the Consumer Price Index – All Urban Consumers (CPI-U) with a baseline year of 2016.

(In billions)

Fiscal Year

2016

2015

2011

2006

Tax revenues

$

4,748

$

4,700

$

3,577

$

3,594

Non-tax revenues

349

468

702

446

Total revenue

5,097

5,168

4,279

4,040

Transfer payments to individuals other than personnel and subsidies

2,812

2,702

2,357

1,627

Compensation for personnel past and present

1,574

1,526

1,413

1,168

Payments to others for goods and services

682

684

732

612

Capital expenditures

497

481

527

435

Net interest paid

313

295

297

252

Other income

(26)

(30)

(31)

(12)

Total expenditures

5,852

5,658

5,295

4,082

Net deficit

$

(755)

$

(490)

$

(1,016)

$

(42)

(In billions)

Fiscal Year

2016

2015

2011

2006

Tax revenues

$

4,748

$

4,700

$

3,577

$

3,594

Non-tax revenues

349

468

702

446

Total revenues

5,097

5,168

4,279

4,040

Establish justice and ensure domestic tranquility expenditures

425

406

380

353

Provide for the common defense expenditures

828

811

893

629

Promote the general welfare expenditures

1,358

1,327

1,245

854

Secure the blessings of liberty to ourselves and our posterity expenditures

3,097

2,972

2,633

2,109

General government and other expenditures

144

142

144

137

Total expenditures

5,852

5,658

5,295

4,082

Net deficit

$

(755)

$

(490)

$

(1,016)

$

(42)

(In billions)

2016

2015

Assets

Cash and other monetary assets (Note 2)

$

1,201

$

1,022

Accounts and taxes receivable, net (Note 3)

463

434

Loans receivable, net (Note 4)

1,503

1,437

Inventories and related property, net (Note 5)

314

321

Property, plant, and equipment, net (Note 6)

11,340

11,031

Debt and equity securities (Note 7)

4,531

4,597

Investments in government-sponsored enterprises (Note 8)

109

106

Other assets (Note 9)

144

167

Total assets

$

19,605

$

19,115

Stewardship land and heritage assets (Note 22)

Liabilities and equity

Accounts payable (Note 10)

$

948

$

912

Debt securities held by the public and accrued interest (Note 11)

16,411

15,396

Employee and veteran benefits payable (Note 12)

15,099

14,369

Environmental and disposal liabilities (Note 13)

447

412

Benefits due and payable (Note 14)

218

214

Insurance and guarantee program liabilities (Note 15)

187

170

Loan guarantee liabilities (Note 4)

18

36

Other liabilities (Note 16)

469

660

Total liabilities

33,797

32,169

Contingencies (Note 18) and commitments (Note 19)

Accumulated deficit

(14,192)

(13,054)

Total liabilities and accumulated deficit

$

19,605

$

19,115