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The first column represents the fiscal year, followed by the deficit for that year in billions. The next column is how much the debt increased for that fiscal year, also in billions. The third column calculates the deficit-to-GDP ratio. Negative numbers indicate there was a surplus.
The visualization below shows how deficits from previous years are added to the current year’s deficit to equal total debt. This illustration is simplified to show how debt and deficit are different.
The federal government ran a deficit in the fiscal year 2022 because it spent $6.27 trillion while only bringing in $4.90 trillion. Deficit expenditure is the amount, about $1.38 trillion in 2022, by which spending exceeds receipts.
Graph and download economic data for Federal Surplus or Deficit [-] (FYFSD) from 1901 to 2024 about budget, federal, and USA.
Graph and download economic data for Federal Surplus or Deficit [-] from Q2 1901 to Q3 2024 about budget, federal, USA, expenditures, government, and GDP.
Data updated October 29, 2024. About $1.7 trillion deficit in fiscal year (FY) 2023. A budget deficit occurs when the federal government spends more money than it brings in through taxes, customs duties, the sale of assets, and other revenues. When the government has a deficit, it borrows money by selling bonds and other securities in order to ...
Graph and download economic data for Federal Surplus or Deficit [-] as Percent of Gross Domestic Product (FYFSGDA188S) from 1929 to 2023 about budget, federal, GDP, and USA.
Last Updated. May 28, 2021. Notes. 1 The Fiscal Year begins on October 1 of the previous year. For example, Fiscal Year 2009 begins on October 1, 2008. For this reason, budget years appear to not correspond with a president's administration.
Table 14.6—Total Government Surpluses or Deficits (-) in Absolute Amounts and as Percentages of GDP: 1948–2023. Table 15.1—Total Outlays for Health Programs: 1962–2029
As of October 2024, the U.S. national debt was over $35.85 trillion. Tax cuts, stimulus programs, and increased government spending on defense can cause the national debt to rise sharply. Looking...