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.

The United States recorded a government budget surplus of 27000 USD Million in June 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 Surplus or Deficit [-] as Percent of Gross Domestic Product (FYFSGDA188S) from 1929 to 2024 about budget, federal, 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.

Germany recorded a Government Budget deficit equal to 2.80 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Germany Government Budget - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2024, the budget balance in relation to the gross domestic product (GDP) in the United States stood at about -7.26 percent. Between 2001 and 2024, the figure dropped by approximately 6.72 percentage points, though the decline followed an uneven course rather than a steady trajectory. From 2024 to 2030, the budget balance will rise by around 1.65 percentage points, showing an overall upward trend with periodic ups and downs.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 expenses and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

Graph and download economic data for Federal government budget surplus or deficit (-) (M318501Q027NBEA) from Q3 1959 to Q4 2023 about budget, federal, government, GDP, and USA.

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 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.

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 budget balance in relation to the gross domestic product (GDP) in Argentina stood at about 0.86 percent in 2024. From 1993 to 2024, the budget balance rose by approximately 0.88 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2030, the budget balance will rise by around 0.64 percentage points, showing an overall upward trend with periodic ups and downs.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 expenses 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 budget balance in relation to the gross domestic product (GDP) in Japan was estimated at approximately -2.48 percent in 2024. Between 1980 and 2024, the budget balance rose by around 1.94 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The budget balance is expected to drop by about 2.82 percentage points between 2024 and 2030, showing a continuous downward movement throughout the period.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 expenses and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

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

In 2024, the budget balance in relation to the gross domestic product (GDP) in China stood at approximately -7.34 percent. Between 1982 and 2024, the figure dropped by around 7.56 percentage points, though the decline followed an uneven course rather than a steady trajectory. The budget balance is forecast to decline by about 0.77 percentage points from 2024 to 2030, fluctuating as it trends downward.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 expenses and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

Mexico recorded a Government Budget deficit equal to 5.70 percent of the country's Gross Domestic Product in 2024. This dataset provides - Mexico Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The budget balance in relation to the gross domestic product (GDP) in Russia stood at about -2.25 percent in 2024. From 1998 to 2024, the budget balance rose by approximately 5.17 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2030, the budget balance will rise by around 0.96 percentage points, showing an overall upward trend with periodic ups and downs.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 expenses and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

In 2024, the budget balance in relation to the gross domestic product (GDP) in Mexico amounted to about -5.72 percent. Between 1990 and 2024, the figure dropped by approximately 2.61 percentage points, though the decline followed an uneven course rather than a steady trajectory. From 2024 to 2030, the budget balance will rise by around 2.85 percentage points, showing an overall upward trend with periodic ups and downs.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 expenses 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 budget balance in relation to the gross domestic product (GDP) in Greece was estimated at approximately -0.32 percent in 2024. Between 1980 and 2024, the budget balance rose by around 2.18 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The budget balance is expected to drop by about 0.51 percentage points between 2024 and 2030, showing a continuous downward movement throughout the period.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 expenses and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

Key information about China Consolidated Fiscal Balance: % of GDP

• China Consolidated Fiscal Balance recorded a deficit equal to 4.8 % of its Nominal GDP in Dec 2024, compared with a deficit equal to 4.9 % in the previous quarter
• China Consolidated Fiscal Balance to GDP data is updated quarterly, available from Dec 1995 to Dec 2024, with an average ratio of -2.0 %
• The data reached an all-time high of 1.4 % in Jun 2008 and a record low of -6.1 % in Dec 2020

CEIC calculates quarterly Consolidated Fiscal Balance as % of Nominal GDP from monthly Consolidated Fiscal Balance and quarterly Nominal GDP. The Ministry of Finance provides year-to-date Consolidated Fiscal Balance in local currency. The National Bureau of Statistics provides year-to-date Nominal GDP in local currency. Consolidated Fiscal Balance as % of Nominal GDP prior to Q4 2007 is calculated from non year-to-date Consolidated Fiscal Balance.


Further information about China Consolidated Fiscal Balance: % of GDP

• In the latest reports, China National Government Debt reached 4,230.0 USD bn in Dec 2023
• China Nominal GDP reached 4,166.8 USD bn in Mar 2023