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 2024 about budget, federal, 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.

Argentina recorded a Government Budget deficit equal to 4.37 percent of the country's Gross Domestic Product in 2023. This dataset provides - Argentina Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

United States - Federal Surplus or Deficit [-] was -1832816.00000 Mil. of $ in September of 2024, according to the United States Federal Reserve. Historically, United States - Federal Surplus or Deficit [-] reached a record high of 236241.00000 in September of 2000 and a record low of -3131917.00000 in September of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Federal Surplus or Deficit [-] - last updated from the United States Federal Reserve on July of 2025.

Government Debt in the United States decreased to 36211469 USD Million in June from 36215818 USD Million in May of 2025. This dataset provides - United States Government Debt- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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

Turkey recorded a Government Debt to GDP of 24.70 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Turkey Government Debt to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

This graph shows the government budget balance as a share of GDP in China in selected years from 2000 to 2022. In 2022, China's government deficit had taken up about *** percent of the national GDP.

Madagascar recorded a Government Debt to GDP of 38.80 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Madagascar Government Debt to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The outstanding value of Japan's general government debt securities has shown an upward trend from 2000 to the third quarter of 2024, rising from approximately *** trillion U.S. dollars to nearly **** trillion U.S. dollars. The peak occurred in 2011, when government debt securities recorded a value of over ** trillion U.S. dollars.

Key information about Finland National Government Debt

• Finland National Government Debt reached 234.7 USD bn in Dec 2024, compared with 251.0 USD bn in the previous quarter.
• Finland National Government Debt data is updated quarterly, available from Mar 2000 to Dec 2024.
• The data reached an all-time high of 251.0 USD bn in Sep 2024 and a record low of 52.3 USD bn in Mar 2002.

CEIC converts quarterly Government Debt into USD. Statistics Finland provides Government Debt in EUR. The Federal Reserve Board period end market exchange rate is used for currency conversions.


Related information about Finland National Government Debt

• In the latest reports, Finland Consolidated Fiscal Balance recorded a deficit equal to 4.5 % of its Nominal GDP in Dec 2024.
• The country's Government debt accounted for 82.1 % of its Nominal GDP in Dec 2024.
• Finland Nominal GDP reached 74.8 USD bn in Mar 2023.

In the fiscal year of 2024, Florida's state debt stood at about ***** billion U.S. dollars. Comparatively, the state's debt was approximately ***** billion U.S. dollars in 2000. The national debt of the United Stated can be found here.

Uruguay recorded a Government Debt to GDP of 70.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - Uruguay Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Lebanon recorded a Government Debt to GDP of 164.10 percent of the country's Gross Domestic Product in 2024. This dataset provides - Lebanon Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Serbia recorded a Government Debt to GDP of 47.20 percent of the country's Gross Domestic Product in 2024. This dataset provides - Serbia Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Bolivia recorded a Government Debt to GDP of 95 percent of the country's Gross Domestic Product in 2024. This dataset provides - Bolivia Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.