Debt aggregates Base = monetary base (citibase) Market value = privately held debt + monetary base Rate of return is weighted average of fama-bliss zero coupon returns and three month rate, weights = portfolio shares at beginning of year, Units = percent Surplus[t] = value[t-1]*rate of return[t] - value[t] CPI = Dec CPI (citibase) date base value return surplus CPI 60.0000 44300.0000 233668.8119 -99.0000 -99.0000 29.8100 61.0000 45500.0000 247812.7916 1.4992 -10640.7524 30.0100 62.0000 47000.0000 255359.4297 3.1680 304.0305 30.3800 63.0000 49500.0000 256526.5847 1.6593 3070.1493 30.8800 64.0000 52000.0000 261450.2731 2.9301 2592.8496 31.2500 65.0000 55100.0000 260361.3628 1.9211 6111.6431 31.8500 66.0000 57300.0000 262757.0066 3.9213 7813.9608 32.9200 67.0000 61100.0000 265664.3225 2.2142 2910.6226 34.0000 68.0000 65500.0000 276538.9391 3.4687 -1659.5628 35.6000 69.0000 68000.0000 269577.3631 3.2401 15921.6765 37.7000 70.0000 72400.0000 288041.8694 7.5690 1939.7838 39.8000 71.0000 77700.0000 303809.7861 4.2393 -3556.8164 41.1000 72.0000 84400.0000 319290.8377 2.6462 -7441.7439 42.5000 73.0000 90700.0000 317922.0909 4.3492 15255.4764 46.3000 74.0000 98800.0000 338222.3731 5.2399 -3641.6052 51.9000 75.0000 105900.0000 427457.8403 4.5948 -73694.9824 55.6000 76.0000 113800.0000 498313.5652 5.2426 -48445.8258 58.4000 77.0000 123400.0000 540670.1025 2.9032 -27889.5444 62.3000 78.0000 135100.0000 567962.6097 3.9835 -5755.0519 67.9000 79.0000 146300.0000 611462.9850 6.6150 -5929.7232 76.9000 80.0000 158400.0000 698153.9538 7.0484 -43592.8557 86.4000 81.0000 165700.0000 787980.3119 9.8740 -20890.8766 94.1000 82.0000 178600.0000 971804.1641 13.2417 -79482.2438 97.7000 83.0000 196100.0000 1156272.4578 6.4938 -121361.4278 101.4000 84.0000 209500.0000 1372564.3287 9.4449 -107083.1483 105.5000 85.0000 228100.0000 1612861.7644 11.4165 -83598.3925 109.5000 86.0000 251200.0000 1844176.1131 9.9672 -70557.3715 110.8000 87.0000 268000.0000 1891157.4675 2.7494 3722.4133 115.7000 88.0000 286100.0000 1973876.4084 4.8881 9723.0941 120.8000 89.0000 296600.0000 2183322.1131 10.2896 -6340.9134 126.4000 90.0000 322300.0000 2443052.6688 7.4013 -98137.0261 134.3000 91.0000 349600.0000 2819691.9228 10.7318 -114455.6562 138.3000 92.0000 385700.0000 3121565.2978 4.2228 -182804.1770 142.4000 93.0000 424800.0000 3408834.5322 6.3188 -90023.9485 146.4000 94.0000 456100.0000 3349316.5722 -2.0159 -9202.2320 150.3000 95.0000 470900.0000 3732432.8122 11.5529 3827.1548 154.1000 96.0000 484000.0000 3810872.2777 2.7846 25494.6617 159.2000