1 DAILY TREASURY STATEMENT PAGE: 1 Cash and debt operations of the United States Treasury Wednesday December 31, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE I Operating Cash Balance | ___________________________________________________________________________________________ | | | Opening balance | | _________________________________________________________________ | Closing | | | This | | Type of account | balance | | This | fiscal | | | today | Today | month | year | ___________________________________________________________________________________________ Federal Reserve Account $ 106,123 $ 112,203 $ 66,385 $ 32,988 Financial Institution Accoun 0 0 0 0 Supplementary Financing Prog 259,325 259,325 434,107 299,491 Tax and Loan Note Accounts (Table V) 1,199 1,916 1,964 39,129 Total Operating Balance 366,648 373,444 502,456 371,608 1 DAILY TREASURY STATEMENT PAGE: 2 Cash and debt operations of the United States Treasury Wednesday December 31, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE II Deposits and Withdrawals of Operating Cash | ___________________________________________________________________________________________ | | | This | Fiscal | | Deposits | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Federal Reserve Account: Agriculture Loan Repayments (misc) 474 1,017 1,881 Air Transport Security Fees 126 156 526 Commodity Credit Corporation programs 63 559 1,674 Customs and Certain Excise Taxes 96 2,600 8,624 Deposits by States: Supplemental Security Income 0 394 1,200 Unemployment 8 234 4,544 Education Department programs 88 1,311 3,607 Energy Department programs 24 565 1,678 Estate and Gift Taxes 262 2,240 6,789 Federal Reserve Earnings 81 4,826 9,767 Foreign Deposits, Military Sales 19 2,440 4,916 FTD's Received (Table IV) 4,833 57,728 138,891 Housing and Urban Development programs 1 101 411 Individual Income and Employment Taxes, Not Withheld 832 8,062 26,918 Interest recd from T&L Depositaries 0 0 29 Justice Department programs 12 596 1,539 Postal Service 359 8,846 25,057 Public Debt Cash Issues (Table III-B) 71,258 584,528 2,338,204 Other Deposits: Fed. Crop Ins. Corp. Fund Premiums 64 120 3,110 GSE Dividends 204 204 204 Medicare Premiums 217 1,825 5,222 Minerals Management Svc/Collections 279 887 2,059 National Credit Union Administration 3,701 3,711 4,022 Total Other Deposits 4,466 15,950 34,768 Change in Balance of Uncollected Funds (closing balance $ 1) 7 4 63 Transfers from Depositaries 9,110 162,177 634,919 Total Federal Reserve Account 92,119 854,335 3,246,004 Tax and Loan Note Accounts: FTD's Received (Table IV) 8,393 161,413 371,767 Transfers from Federal Reserve Account (Table V) 0 0 225,223 Total Tax and Loan Note Accounts (Table V) 8,393 161,413 596,990 Total Deposits (excluding transfers) 91,402 853,570 2,982,853 1 DAILY TREASURY STATEMENT PAGE: 3 Cash and debt operations of the United States Treasury Wednesday December 31, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ ___________________________________________________________________________________________ | | | This | Fiscal | | Withdrawals | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Federal Reserve Account: Commodity Credit Corporation programs 104 2,827 13,583 Defense Vendor Payments (EFT) 1,404 37,048 96,077 Education Department programs 618 12,053 32,233 Energy Department programs 199 2,545 7,731 Federal Employees Insurance Payments 218 5,013 14,605 Fed. Highway Administration programs 90 3,068 10,274 Federal Salaries (EFT) 1,086 16,524 46,039 Food and Nutrition Service (misc) 195 6,013 17,088 Food Stamps 14 333 1,002 GSA programs 119 1,461 4,202 Health and Human Services Grants (misc) 521 7,365 21,098 Housing and Urban Development programs 250 4,845 14,026 Interest on Treasury Securities 3,902 10,195 38,479 Justice Department programs 8 1,168 3,637 Labor Dept. prgms (excl. unemployment) 52 1,061 3,203 Medicaid 258 17,725 52,898 Medicare 1,750 41,430 118,195 NASA programs 0 1,661 4,211 Postal Service Money Orders and Other 362 4,483 11,550 Public Debt Cash Redemp. (Table III-B) 25,324 608,260 1,786,085 Social Security Benefits (EFT) 19 42,706 126,600 Temporary Assistance for Needy Families (HHS) 30 1,468 4,713 Transportation Security Admin. (DHS) 0 185 624 Unemployment Insurance Benefits 432 7,243 16,386 Veterans Affairs programs 81 2,667 7,613 Other Withdrawals: Agriculture Loan Payments (misc) 53 652 1,729 Emergency Prep & Response (DHS) 53 1,850 4,740 Federal Aviation Administration 62 825 2,232 Federal Transit Admin. 78 966 2,649 Military Active Duty Pay (EFT) 3,537 9,676 22,147 Pension Benefit Guaranty Corp. 356 381 1,149 Supple. Security Income Benefits (EFT) 2,285 4,584 8,848 TARP 39,079 55,068 246,540 Thrift Savings Plan Transfer 101 1,727 4,812 Treasury Dept: Claims Payments 83 481 763 Veterans Benefits (EFT) 2,933 5,697 11,196 Unclassified 12,543 50,538 149,983 Total, Other Withdrawals 61,162 150,032 535,661 Transfers to Depositaries 0 0 225,223 Total Federal Reserve Account 98,198 989,379 3,213,036 Tax and Loan Note Accounts: Transfers to Federal Reserve Account (Table V) 9,110 162,177 634,919 Total Withdrawals (excluding transfers) 98,198 989,379 2,987,813 Net Change in Operating Cash Balance -6,796 -135,809 -4,961 1 DAILY TREASURY STATEMENT PAGE: 4 Cash and debt operations of the United States Treasury Wednesday December 31, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE III-A Public Debt Transactions | ___________________________________________________________________________________________ | | | This | Fiscal | | Issues | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Marketable: Bills: Regular Series 0 371,423 1,195,128 Cash Management Series 0 20,000 760,001 Notes 70,821 182,481 349,270 Bonds 0 0 11,772 Inflation-Protected Securities Increment -174 -5,307 -7,637 Federal Financing Bank 0 0 0 Nonmarketable: United States Savings Securities: Cash Issue Price 17 358 810 Interest Increment 0 566 1,788 Government Account Series 279,584 3,880,929 11,110,531 Hope Bonds 0 0 461 Domestic Series 0 0 25 Foreign Series 0 0 1,000 State and Local Series 135 1,879 7,344 Other 378 7,580 17,221 Total Issues 350,762 4,459,908 13,447,715 (Stated at face value except for savings and retirement plan securities which are stated at current redemption value.) ___________________________________________________________________________________________ | | | This | Fiscal | | Redemptions | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Marketable: Bills 0 528,463 1,578,271 Notes 24,817 65,155 168,593 Bonds 0 1 2 Federal Financing Bank 0 0 0 Nonmarketable: United States Savings Securities 60 1,066 2,777 Government Account Series 178,648 3,813,018 10,986,549 Hope Bonds 0 0 0 Domestic Series 0 0 25 Foreign Series 0 0 0 State and Local Series 66 6,015 18,264 Other 381 7,561 18,153 Total Redemptions 203,972 4,421,278 12,772,635 Net Change in Public Debt Outstanding 146,790 38,630 675,080 1 DAILY TREASURY STATEMENT PAGE: 5 Cash and debt operations of the United States Treasury Wednesday December 31, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE III-B Adjustment of Public Debt Transactions to Cash Basis | ___________________________________________________________________________________________ | | | This | Fiscal | | Transactions | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Public Debt Cash Issues: Public Debt Issues (Table III-A) 350,762 4,459,908 13,447,715 Premium on New Issues 0 1,541 3,318 Discount on New Issues: Bills (-) 0 380 5,604 Bonds and Notes (-) 94 355 2,397 Federal Financing Bank (-) 0 0 0 Government Account Transactions (-) 279,584 3,880,929 11,110,531 Hope Bonds (-) 0 0 461 Interest Increment on United States Savings Securities (-) 0 566 1,788 Inflation-Protected Securities Increment -174 -5,307 -7,952 Total Public Debt Cash Issues Deposited in Federal Reserve Account 71,258 584,528 2,338,204 Public Debt Cash Redemptions: Public Debt Redemptions (Table III-A) 203,972 4,421,278 12,772,635 Premium on Debt Buyback Operation 0 0 0 Discount on Debt Buyback Operation (-) 0 0 0 Federal Financing Bank (-) 0 0 0 Government Account Transactions (-) 178,648 3,813,018 10,986,549 Hope Bonds (-) 0 0 0 Total Public Debt Cash Redemptions Withdrawn from Federal Reserve Acct. 25,324 608,260 1,786,085 1 DAILY TREASURY STATEMENT PAGE: 6 Cash and debt operations of the United States Treasury Wednesday December 31, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE III-C Debt Subject to Limit | ___________________________________________________________________________________________ | | | Opening balance | | _________________________________________________________________ | Closing | | | Fiscal | | Balance Transactions | balance | | This | year | | | today | Today | month | | ___________________________________________________________________________________________ Debt Held by the Public 1/$ 6,369,319 $ 6,322,766 $ 6,396,591 $ 5,808,692 Intragovernmental Holdings 4,330,486 4,230,249 4,264,584 4,216,033 Total Public Debt Outstanding 10,699,805 10,553,015 10,661,175 10,024,725 Less: Debt Not Subject to Limit: Other Debt 493 493 493 494 Unamortized Discount 44,599 48,876 50,518 50,402 Federal Financing Bank 14,000 14,000 14,000 14,000 Hope Bonds 491 491 491 30 Plus: Other Debt Subject to Limit Guaranteed Debt of Government Agencies 51 51 51 51 Total Public Debt Subject to Limit 10,640,274 10,489,206 10,595,725 9,959,850 Statutory Debt Limit 11,315,000 11,315,000 11,315,000 10,615,000 Act of October 3, 2008, permanently increased the statutory debt limit to $11,315 billion. Unamortized Discount represents the discount adjustment on Treasury bills and zero-coupon bonds (amortization is calculated daily). 1/The current balance includes $259,325 million outstanding for securities is sued to raise cash for the temporary Supplementary Financing Program (www.t reas.gov/press/releases/hp1144.htm). 1 DAILY TREASURY STATEMENT PAGE: 7 Cash and debt operations of the United States Treasury Wednesday December 31, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE IV Federal Tax Deposits | ___________________________________________________________________________________________ | | | This | Fiscal | | Classification | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Withheld Income and Employment Taxes $ 13,328 $ 167,634 $ 445,768 Individual Income Taxes 47 460 1,124 Railroad Retirement Taxes 37 369 1,134 Excise Taxes 6 4,955 14,016 Corporation Income Taxes 266 51,468 65,190 Federal Unemployment Taxes 13 70 810 Estate and Gift Taxes & Misc IRS Rcpts. 4 56 153 Change in Balance of Unclassified Taxes 82 469 587 Total 13,782 225,481 528,781 These Receipts were deposited in: Federal Reserve Account: Directly 80 2,578 7,583 Collector Depositaries 4,753 55,150 131,308 Tax and Loan Accounts 8,393 161,413 371,767 Inter-agency Transfers 556 6,340 18,123 TABLE V Tax and Loan Note Accounts by Depositary Category | ___________________________________________________________________________________________ | | | Type of Depositary | | _________________________________________________________________ | Balance Transactions | | | | | | | A | B | C | Total | ___________________________________________________________________________________________ Opening Balance Today $ 40 $ 303 $ 1,574 $ 1,916 Deposits: Taxes Received (Table IV) 11 135 8,247 8,393 Transfers to Depositaries 0 0 0 0 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 0 Repo Investment 0 0 0 0 Withdrawals: Treasury Initiated 0 0 843 843 Depositary Initiated 5 94 8,168 8,267 Special Direct Investment 0 0 0 0 Term Investment 0 0 0 0 Repo Investment 0 0 0 0 Closing Balance Today 46 343 810 1,199 1 DAILY TREASURY STATEMENT PAGE: 8 Cash and debt operations of the United States Treasury Wednesday December 31, 2008 (Detail, rounded in millions, may not add to totals) ___________________________________________________________________________________________ TABLE VI Income Tax Refunds Issued | ___________________________________________________________________________________________ | | | This | Fiscal | | Classification | Today | month | year | | | | to date | to date | ___________________________________________________________________________________________ Individual $ 5 2/$ 1,649 2/$ 21,020 Business 43 5,228 20,863 2/Does not include $15 mil offset by FMS for MTD & $5,188 mil for the fiscal YTD for TOP against Tax Refunds issued. Also includes $206 mil MTD & $2,226 mil YTD Stimulus Payments issued with provisions of the Economic Act of 20 08 (PL 110-185). This statement summarizes the United States Treasury's cash and debt operations for the Federal Government. Treasury's operating cash is maintained in an account at the Federal Reserve Bank of New York and in Tax and Loan accounts at commercial banks. Major information sources include: Federal Reserve Banks, Treasury Regional Financial Centers, Internal Revenue Service Centers, Bureau of the Public Debt and various electronic systems. Information is presented on a modified cash basis. Deposits are reflected as received and withdrawals are reflected as processed. SOURCE: Financial Management Service, Department of the Treasury Note: The Daily Treasury Statement (DTS) is available by 4:00 p.m. the following business day on the Financial Management Service (FMS) website www.fms.treas.gov/dts. For more information, call the Cash Forecasting Division at 202-874-9790. The DTS is also available on the Department of Commerce's "State of the Nation" website: http://www.stat-usa.gov/sotn. For more information regarding this system, please call 202-482-1986.