Federal Receipts as Percent of Gross Domestic Product
This dataset tracks federal receipts as percent of gross domestic product over time.
Latest Value
16.85
Year-over-Year Change
11.81%
Date Range
1/1/1929 - 1/1/2024
Summary
The Federal Receipts as Percent of Gross Domestic Product measures the total revenue collected by the U.S. federal government as a percentage of the country's overall economic output. This metric is crucial for analyzing the government's fiscal position and its impact on the broader economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator represents the federal government's total tax and non-tax receipts, including individual and corporate income taxes, social insurance taxes, and other revenue sources, expressed as a proportion of the nation's Gross Domestic Product. It provides insight into the government's ability to fund its operations and services through revenue collection.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
Policymakers and economists use this metric to assess the government's fiscal stance and its potential effects on economic growth, inflation, and debt levels.
Key Facts
- Federal receipts averaged 17.4% of GDP from 1960 to 2022.
- The highest level was 20.0% in 2000, the lowest was 14.6% in 2009.
- Tax revenue accounts for approximately 95% of total federal receipts.
FAQs
Q: What does this economic trend measure?
A: The Federal Receipts as Percent of Gross Domestic Product measures the total revenue collected by the U.S. federal government as a percentage of the country's overall economic output.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the government's ability to fund its operations and services through revenue collection, which is crucial for analyzing the government's fiscal position and its impact on the broader economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the government's fiscal stance and its potential effects on economic growth, inflation, and debt levels.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Federal Receipts as Percent of Gross Domestic Product (FYFRGDA188S), retrieved from FRED.