Transpose Census Flat Files in Python

I'm trying to transpose this US Census flat file: http://ift.tt/1Km9j6v in Python.

In the first column, the first 14 characters represent a row, and the last three represent a column. The second column is the value of that column and row. Can't seem to figure out a good way to make this into a table using Python.

Side Note: My end goal is to create a script that automatically imports these sort of files into ArcGIS, that's why I'm trying to do this in Python.