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 Oct 1980 to May 2025 about budget, federal, and USA.

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

Graph and download economic data for Federal Surplus or Deficit [-] as Percent of Gross Domestic Product (FYFSDFYGDP) from 1930 to 2023 about budget, federal, percent, GDP, and USA.

The U.S. budget deficit amounted to roughly 1.7 trillion U.S. dollars in 2023, which was around 6.3 percent of the U.S. GDP. The forecast predicts a state deficit of about 2.58 trillion U.S. dollars in 2034, which would be about 6.2 percent of the U.S. GDP. The GDP of the United States since 1990 can be accessed here.

The United States recorded a Government Budget deficit equal to 6.30 percent of the country's Gross Domestic Product in 2023. This dataset provides - United States Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The budget balance in relation to the GDP in the United States lies at approximately -6.46 percent in 2025.Fluctuating decline between 2001 and 2025A comparison to the earliest shown observation from 2001 reveals a total decrease by approximately 5.92 percentage points. The trajectory from 2001 to 2025 shows however that this decrease did not happen continuously.Fluctuating rise between 2025 and 2030In 2030 the budget balance will be about -5.61 percent, according to forecasts. From 2025 onwards, there is an overall increase by approximately 0.85 percentage points.The indicator describes the general government net lending/borrowing which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expense and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

The United States recorded a government budget surplus of 258000 USD Million in April of 2025. This dataset provides - United States Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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

The forecasted budget balance for the U.S. government is predicted to fluctuate between the fiscal years of 2024 and 2034. This forecast predicts a deficit of 2.58 trillion U.S. dollars by fiscal year 2034. A fiscal year covers the period from October 1 to September 30 of a given year.

In September 2023, the national debt of the United States had risen up to 33.17 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.

This table shows the net transactions for the current month, and the current and prior fiscal year-to-date, as well as account balances for the beginning of the current fiscal year and current accounting month and the close of the current accounting month. This activity is related to the means used to finance the budget deficit or to dispose of a budget surplus. An asset account would represent an asset to the United States Government, for example United States Treasury Operating Cash. A liability account would represent a liability to the United States Government, for example Borrowing from the Public. This table includes total and subtotal rows that should be excluded when aggregating data. Some rows represent elements of the dataset's hierarchy, but are not assigned values. The classification_id for each of these elements can be used as the parent_id for underlying data elements to calculate their implied values. Subtotal rows are available to access this same information.

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.

Key information about US Consolidated Fiscal Balance: % of GDP

• United States Consolidated Fiscal Balance recorded a deficit equal to 7.0 % of its Nominal GDP in Dec 2024, compared with a deficit equal to 6.4 % in the previous quarter
• US Consolidated Fiscal Balance to GDP data is updated quarterly, available from Sep 1981 to Dec 2024, with an average ratio of -3.4 %
• The data reached an all-time high of 2.5 % in Dec 2000 and a record low of -19.0 % in Mar 2021

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


Further information about US Consolidated Fiscal Balance: % of GDP

• In the latest reports, US National Government Debt reached 36,220.2 USD bn in Jan 2025
• US Nominal GDP reached 6,632.4 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.

Spain recorded a Government Budget deficit equal to 3.60 percent of the country's Gross Domestic Product in 2023. This dataset provides the latest reported value for - Spain Government Budget - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Summarizes the U.S. government's total outstanding debt at the end of each fiscal year from 1789 to the current year.

United States - Federal government budget surplus or deficit (-) was -3132.61100 Bil. of $ in January of 2020, according to the United States Federal Reserve. Historically, United States - Federal government budget surplus or deficit (-) reached a record high of 236.23900 in January of 2000 and a record low of -3132.61100 in January of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Federal government budget surplus or deficit (-) - last updated from the United States Federal Reserve on May of 2025.

This summary table shows the total amount of receipts and outlays and the amount of the budget surplus/deficit by month for the current and prior fiscal years. This table includes total and subtotal rows that should be excluded when aggregating data. Some rows represent elements of the dataset's hierarchy, but are not assigned values. The classification_id for each of these elements can be used as the parent_id for underlying data elements to calculate their implied values. Subtotal rows are available to access this same information.

In 2023, the gross federal debt in the United States amounted to around 93,500 U.S. dollars per capita. This is a moderate increase from the previous year, when the per capita national debt amounted to about 92,528 U.S. dollars. The total debt accrued by the U.S. annually can be accessed here. Federal debt of the United States The level of national debt held by the United States government has risen sharply in the years following the Great Recession. Federal debt is the amount of debt the federal government owes to creditors who hold assets in the form of debt securities. As with individuals and consumers, there is a common consensus among economists that holding debt is not necessarily problematic for government so long as the public debt is held at a sustainable level. Although there is no agreed upon ratio of debt to gross domestic product, the increasing debt held by the Federal Reserve has become a major part of the political discourse in the United States. Politics and the national debt In recent years, debate over the debt ceiling has been of concern to domestic politicians, the owners of federal debt, and global economy as a whole. The debt ceiling is a legislated maximum amount that national debt can reach intended to impose a degree of fiscal prudence on incumbent governments. However, as national debt has grown the debt ceiling has been reached, thus forcing legislative action by Congress. In both 2011 and 2013, new legislation was passed by Congress allowing the debt ceiling to be raised. The Budget Control Act of 2011 and the No Budget, No Pay Act of 2013 successively allowed the government to avoid defaulting on national debt and therefore avert a potential economic crisis.