Federal government current receipts, NIPAs
M318181Q027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,226.27
Year-over-Year Change
21.20%
Date Range
7/1/1959 - 10/1/2023
Summary
This economic trend measures the total current receipts of the U.S. federal government, which is a key indicator of fiscal health and tax revenue.
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
Federal government current receipts represent the total inflows of money to the government from various sources, including individual and corporate income taxes, social insurance taxes, and other revenue. This data is an important metric for economists and policymakers to assess the government's fiscal position and ability to fund public expenditures.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts (NIPAs).
Historical Context
Policymakers use this trend to inform decisions on taxation, spending, and fiscal policy.
Key Facts
- Federal government current receipts reached a record high of $4.5 trillion in 2021.
- Receipts declined sharply during the COVID-19 pandemic due to economic disruptions.
- Income taxes make up the largest component of federal government receipts.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total current receipts of the U.S. federal government, including income taxes, social insurance taxes, and other revenue.
Q: Why is this trend relevant for users or analysts?
A: Federal government receipts are a key indicator of fiscal health and the government's ability to fund public expenditures, making it an important metric for economists and policymakers.
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 (NIPAs).
Q: How is this trend used in economic policy?
A: Policymakers use this trend to inform decisions on taxation, spending, and overall fiscal policy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Federal government current receipts, NIPAs (M318181Q027NBEA), retrieved from FRED.