Table S.8. State and Local Governments

by Year from 1960 through 2006

[Billions of dollars]
Bureau of Economic Analysis
Downloaded on 1/11/2008 At 1:39:11 PM    Last Revised December 07, 2007
Note. The state and local government accounts exclude state and local employee
retirement funds.
1. Government-sponsored enterprises (GSEs) consist of Federal
Home Loan Banks, Federal National Mortgage Association, Federal
employee retirement funds.
Home Loan Mortgage Corporation, Federal Agricultural Mortgage
Corporation, Farm Credit System, the Financing Corporation, and
the Resolution Funding Corporation, and they included the Student
Loan Marketing Association (Sallie Mae) until it was fully
privatized in the fourth quarter of 2004.
2. 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 flows, and other
statistical differences between the capital and financial accounts.
3. Excludes land and nonproduced nonfinancial assets.

1 Gross Value added
2 Less: Consumption of fixed capital
3 Equals: Net value added
4 Compensation of employees (paid)
5 Wages and salaries
6 Employers' social contributions
7 Operating surplus, net
8 Net national income/balance of primary incomes, net
9 Operating surplus, net
10 Taxes on production and imports, receivable
11 Subsidies (paid)
12 Property income (received)
13 Interest
14 Distributed income of corporations (dividends)
15 Rents on land and natural resources
16 Less: Uses of property income (interest paid)
17 Net national income/balance of primary incomes, net
18 Plus: Current taxes on income, wealth, etc. (received)
19 Plus: Social benefits (received)
20 Less: Social contributions (paid)
21 Plus: Other current transfers (received)
22 Equals: Disposable income, net
23 Less: Final consumption expenditures
24 Equals: Net saving
25 Net saving and capital transfers
26 Net saving
27 Capital transfers received (net)
28 Capital formation, net
29 Gross fixed capital formation (acquisition of produced nonfinancial assets)
30 Less consumption of fixed capital
31 Acquisition of nonproduced nonfinancial assets
32 Net lending or borrowing, capital account (25-28)
33 Net lending or borrowing (line 32)
34 Net acquisition of financial assets
35 Currency and deposits
36 Currency and transferable deposits
37 Time and savings deposits
38 Securities other than shares
39 Open market paper
40 Treasury securities
41 Agency- and GSE-backed securities\1\
42 Municipal securities
43 Corporate and foreign bonds
44 Loans
45 Short term (security repurchases)
46 Longterm (mortgages)
47 Shares and other equity
48 Money market fund shares
49 Corporate equities
50 Mutual fund shares
51 Other accounts receivable
52 Trade receivables
53 Taxes receivable
54 Other (miscellaneous assets)
55 Net incurrence of liabilities
56 Securities other than shares (municipals)
57 Short term
58 Other
59 Loans (short term)
60 Other accounts payable (trade payables)
61 Net lending or borrowing, financial account (34-55)
62 Total other volume changes
63 Other volume changes
64 Less: Statistical discrepancy (lines 32-[34-55])\2\
65 Nonfinancial assets
66 Structures
67 Equipment and software
68 Shares and other equity
69 Changes in net worth due to nominal holding gains or losses
70 Change in net worth (28+32+62+69)
71 Total assets
72 Nonfinancial assets\3\
73 Structures
74 Equipment and software
75 Financial assets
76 Currency and deposits
77 Currency and transferable deposits
78 Time and savings deposits
79 Securities other than shares
80 Open market paper
81 Treasury securities
82 Agency- and GSE-backed securities\1\
83 Municipal securities
84 Corporate and foreign bonds
85 Loans
86 Short term (security repurchases)
87 Long term (mortgages)
88 Shares and other equity
89 Money market fund shares
90 Corporate equities
91 Mutual fund shares
92 Other accounts receivable
93 Trade receivables
94 Taxes receivable
95 Other (miscellaneous assets)
96 Total liabilities and net worth
97 Liabilities
98 Securities other than shares (municipals)
99 Short term
100 Other
101 Loans (short term)
102 Other accounts payable (trade payables)
103 Net worth

Table S.8. State and Local Governments

Source

Contents