In 2023, the U.S. government had a budget deficit of 1.69 trillion U.S. dollars. This is compared to 2000, when the government had a budget surplus of 0.24 trillion U.S. dollars.

U.S. Government budget

The government budget is a financial statement that demonstrates the government’s suggested revenues and spending for the financial year. Budget surpluses occur when income exceeds expenditures. Budget deficits occur when spending exceeds income. The budget balance of the U.S. government has fluctuated since 2016, and is expected to decrease slightly by 2026.

Military spending

Defense outlays in the United States amounted to 714 billion U.S. dollars in 2020. It is expected to continue to increase over the next several years. The United States currently has the largest defense budget in the world, and is the largest employer in the world. The military budget funds the Army, Marine Corps, Navy, and Air Force. The amount of funding that goes towards the Department of Defense is heavily criticized by Democrats in the United States, because they believe that the funding should be more evenly distributed towards other social welfare programs such as public health insurance and education.

Graph and download economic data for Federal Surplus or Deficit - from 1901 to 2025 about budget, federal, and USA.

Graph and download economic data for Federal government budget surplus or deficit (-) from 1952 to 2023 about budget, federal, government, GDP, and USA.

Graph and download economic data for Federal Surplus or Deficit [-] as Percent of Gross Domestic Product (FYFSGDA188S) from 1929 to 2024 about budget, federal, GDP, and USA.

Summary, reconciliation and revisions information on UK government deficit and debt figures by calendar and financial year.

Key information about Japan Consolidated Fiscal Balance: % of GDP

• Japan Consolidated Fiscal Balance recorded a deficit equal to 6.2 % of its Nominal GDP in Mar 2024, compared with a deficit equal to 11.6 % in the previous year
• Japan Consolidated Fiscal Balance to GDP data is updated yearly, available from Mar 1996 to Mar 2024, with an average ratio of -6.8 %
• The data reached an all-time high of -3.5 % in Mar 1998 and a record low of -14.8 % in Mar 2021

The Ministry of Finance provides annual Consolidated Fiscal Balance as % of Nominal GDP. Consolidated Fiscal Balance is calculated as Total Revenue excluding Revenue from Government Bond less Expenditure. Consolidated Fiscal Balance for current and coming fiscal years is forecasted. The forecast for the current year is revised when the official Consolidated Fiscal Balance is released. Nominal GDP prior to 2012 is based on SNA 1993. Consolidated Fiscal Balance as % of Nominal GDP is in annual frequency, ending in March of each year.


Further information about Japan Consolidated Fiscal Balance: % of GDP

• In the latest reports, Japan National Government Debt reached 9,396.6 USD bn in Apr 2023
• Japan Nominal GDP reached 1,080.1 USD bn in Mar 2023

Japan recorded a Government Budget deficit equal to 6.40 percent of the country's Gross Domestic Product in 2022. This dataset provides - Japan Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The U.S. budget deficit amounted to roughly 1.8 trillion U.S. dollars in 2024, which was around 6.4 percent of the U.S. GDP. The GDP of the United States since 1990 can be accessed here.

The government of the United Kingdom borrowed approximately ****percent worth of its GDP in the 2024/25 financial year, compared with ****percent in 2023/24. In 2020/21, government borrowing reached *****percent of GDP, due to increased financial support to public services during the COVID-19 pandemic, combined with reduced revenue because of societal lockdowns.

Key information about United States Government Debt: % of GDP

• United States Government debt accounted for 124.0 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 123.1 % in the previous quarter.
• US government debt to GDP ratio data is updated quarterly, available from Mar 1969 to Dec 2024.
• The data reached an all-time high of 130.4 % in Mar 2021 and a record low of 31.8 % in Sep 1974.

CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling sum of quarterly Nominal GDP. The Bureau of the Fiscal Service provides Government Debt in USD. The Bureau of Economic Analysis provides Nominal GDP in USD. Government Debt covers Central Government only.


Related information about United States Government Debt: % of GDP

• In the latest reports, US National Government Debt reached 36,220.2 USD bn in Jan 2025.
• The country's Nominal GDP reached 6,632.4 USD bn in Mar 2023.

Historical: Federal government surplus or deficit, reconciliation with the public accounts, based on the 1968 System of National Accounts international standards. 1926 to 1950.

Key information about Canada National Government Debt

• Canada National Government Debt reached 1,519.8 USD bn in Mar 2024, compared with 1,423.3 USD bn in the previous year.
• Canada National Government Debt data is updated yearly, available from Mar 1962 to Mar 2024.
• The data reached an all-time high of 1,519.8 USD bn in Mar 2024 and a record low of 20.5 USD bn in Mar 1962.

CEIC converts annual Government Debt into USD. The Department of Finance Canada provides Government Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Government Debt is in annual frequency, ending in March of each year.


Related information about Canada National Government Debt

• In the latest reports, Canada Consolidated Fiscal Balance recorded a deficit equal to 1.8 % of its Nominal GDP in Sep 2024.
• The country's Government debt accounted for 69.4 % of its Nominal GDP in Mar 2024.
• Canada Nominal GDP reached 520.3 USD bn in Mar 2023.

France recorded a government budget deficit of 157.50 EUR Billion in August of 2025. This dataset provides the latest reported value for - France Government Budget Value - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Israel National Government Debt

• Israel National Government Debt reached 310.8 USD bn in Dec 2023, compared with 294.7 USD bn in the previous year.
• Israel National Government Debt data is updated yearly, available from Dec 1995 to Dec 2023.
• The data reached an all-time high of 335.7 USD bn in Dec 2021 and a record low of 91.3 USD bn in Dec 1995.

CEIC converts annual Government Debt into USD. The Bank of Israel provides Government Debt in local currency. The Bank of Israel period end market exchange rate is used for currency conversions.


Related information about Israel National Government Debt

• In the latest reports, Israel Consolidated Fiscal Balance recorded a deficit equal to 4.1 % of its Nominal GDP in Dec 2023.
• The country's Government debt accounted for 67.1 % of its Nominal GDP in Dec 2021.
• Israel Nominal GDP reached 127.0 USD bn in Mar 2023.

The United States recorded a Government Debt to GDP of 124.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - United States Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Public deficit/surplus is defined in the Maastricht Treaty as general government net borrowing/lending according to the European System of Accounts. The general government sector comprises central government, state government, local government, and social security funds. The relevant definitions are provided in Council Regulation 479/2009, as amended.

The United States recorded a Government Budget deficit equal to 6.40 percent of the country's Gross Domestic Product in 2024. This dataset provides - United States Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Public deficit/surplus is defined in the Maastricht Treaty as general government net borrowing/lending according to the European System of Accounts. The general government sector comprises central government, state government, local government, and social security funds. The relevant definitions are provided in Council Regulation 479/2009, as amended.

Israel General Government: Deficit Financing: Domestic: Borrowing data was reported at 89.009 ILS bn in 2017. This records an increase from the previous number of 87.808 ILS bn for 2016. Israel General Government: Deficit Financing: Domestic: Borrowing data is updated yearly, averaging 57.611 ILS bn from Dec 1996 (Median) to 2017, with 22 observations. The data reached an all-time high of 113.262 ILS bn in 2012 and a record low of -0.600 ILS bn in 2000. Israel General Government: Deficit Financing: Domestic: Borrowing data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Israel – Table IL.F003: General Government Revenue and Expenditure: Annual.

In September 2024, the national debt of the United States had risen up to 35.46 trillion U.S. dollars. The national debt per capita had risen to 85,552 U.S. dollars in 2021. As represented by the statistic above, the public debt of the United States has been continuously rising. U.S. public debt Public debt, also known as national and governmental debt, is the debt owed by a nations’ central government. In the case of the U.S., national debt is owed by the federal government to Treasury security holders. Generally speaking, government debt increases with government spending, and can be decreased through taxes. During the COVID-19 pandemic, the U.S. government increased spending significantly to finance virus infrastructure, aid, and various forms of economic relief. International public debt Venezuela leads the global ranking of the 20 countries with the highest public debt in 2021. In relation to the Gross Domestic Product (GDP), Venezuela's public debt amounted to around 306.95 percent of GDP. Eritrea was ranked fifth, with an estimated debt of 170 percent of the Gross Domestic Product. The national debt of the United Kingdom is forecasted to grow from 87 percent in 2022 to 70 percent in 2027, in relation to the Gross Domestic Product. These figures include England, Wales, Scotland as well as Northern Ireland. Greece had the highest national debt among EU countries as of the 4th quarter of 2020 in relation to the Gross Domestic Product. Germany ranked 13th in the EU, with its national debt amounting to 69 percent of GDP in the same time period. Tuvalu was one of the 20 countries with the lowest national debt in 2021 in relation to the GDP, while Macao had an estimated level of national debt of zero percent, the lowest of any country. The data refer to the debts of the entire state, including the central government, the provinces, municipalities, local authorities and social insurance.