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.

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 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 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.

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 Surplus or Deficit - from Oct 1980 to Jul 2025 about budget, federal, and USA.

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.

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.

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.

United States - Federal Surplus or Deficit [-] as Percent of Gross Domestic Product was -6.28277 % of GDP in September of 2023, according to the United States Federal Reserve. Historically, United States - Federal Surplus or Deficit [-] as Percent of Gross Domestic Product reached a record high of 4.50401 in June of 1948 and a record low of -29.55255 in June of 1943. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Federal Surplus or Deficit [-] as Percent of Gross Domestic Product - last updated from the United States Federal Reserve on September of 2025.

Graph and download economic data for Federal government budget surplus or deficit (-) (M318501A027NBEA) from 1952 to 2023 about budget, federal, government, GDP, and USA.

As an effect of the coronavirus (COVID-19) pandemic, governmental expenditures increased worldwide and so did the fiscal deficits. In 2020, global fiscal deficit made up **** percent of the global GDP. The United States was the world region where the fiscal deficit was the highest relative to GDP, amounting to around **** percent. Estimations for 2021 show that the figures will remain relatively high worldwide, but should decrease in 2022.

United States CBO Projection: Deficit or Surplus: Off-Budget: % of GDP data was reported at -1.182 % in 2035. This records a decrease from the previous number of -1.146 % for 2034. United States CBO Projection: Deficit or Surplus: Off-Budget: % of GDP data is updated yearly, averaging -0.087 % from Sep 2007 (Median) to 2035, with 29 observations. The data reached an all-time high of 1.320 % in 2007 and a record low of -1.182 % in 2035. United States CBO Projection: Deficit or Surplus: Off-Budget: % of GDP data remains active status in CEIC and is reported by Congressional Budget Office. The data is categorized under Global Database’s United States – Table US.F007: Federal Government Receipts and Outlays: Projection. Refer to ID: 448572167 for historic actual figures

The statistic shows the gross national debt of the United States from 2019 to 2024 in relation to the gross domestic product (GDP), with projections up until 2030. In 2024, the national debt of the United States was at around 120.79 percent of the gross domestic product. See the US GDP for further information. US finances There has been a dramatic increase in the public debt of the United States since 1990, although the month-to-month change has been quite stable over the last few months. Public debt is defined as the amount of money borrowed by a country to cover budget deficits. A ranking of individual state debt in the United States shows that California is leading by a clear margin, with more than double the amount of runner-up New York. Vermont, North Dakota and South Dakota are the states with the lowest amount of debt. Even before the recession of 2008, the national debt of the United States had been increasing steadily and excessively, and it is predicted to rise even further. Budget cuts and fewer job opportunities as a result of the crisis are taking their toll on the American economy, which is still recovering. Trade figures as well as unemployment are still below average. Subsequently, the national debt and the national debt of the United States per capita have more or less quadrupled since the 1990s. Interestingly, the United States is not even among the top ten of countries with the highest public debt in relation to gross domestic product in international comparison. Japan, Greece and Italy – among others – report far higher figures than the United States.

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.

United States CBO Projection: Social Sec: Contri to Federal Deficit: % of GDP data was reported at -0.379 % in 2018. This records a decrease from the previous number of -0.280 % for 2017. United States CBO Projection: Social Sec: Contri to Federal Deficit: % of GDP data is updated yearly, averaging -0.373 % from Sep 2015 (Median) to 2018, with 4 observations. The data reached an all-time high of -0.280 % in 2017 and a record low of -0.448 % in 2015. United States CBO Projection: Social Sec: Contri to Federal Deficit: % of GDP data remains active status in CEIC and is reported by Congressional Budget Office. The data is categorized under Global Database’s USA – Table US.F003: Federal Government Receipts & Outlays: Projection: Congressional Budget Office.

United States CBO Projection: Medicare: Contribution to Federal Deficit: % of GDP data was reported at -1.459 % in 2018. This records an increase from the previous number of -1.606 % for 2017. United States CBO Projection: Medicare: Contribution to Federal Deficit: % of GDP data is updated yearly, averaging -1.661 % from Sep 2015 (Median) to 2018, with 4 observations. The data reached an all-time high of -1.459 % in 2018 and a record low of -1.752 % in 2016. United States CBO Projection: Medicare: Contribution to Federal Deficit: % of GDP data remains active status in CEIC and is reported by Congressional Budget Office. The data is categorized under Global Database’s USA – Table US.F003: Federal Government Receipts & Outlays: Projection: Congressional Budget Office.

United States CBO Projection: Deficit or Surplus: On-Budget: % of GDP data was reported at -4.579 % in 2035. This records an increase from the previous number of -4.989 % for 2034. United States CBO Projection: Deficit or Surplus: On-Budget: % of GDP data is updated yearly, averaging -4.989 % from Sep 2007 (Median) to 2035, with 29 observations. The data reached an all-time high of -2.470 % in 2007 and a record low of -16.056 % in 2020. United States CBO Projection: Deficit or Surplus: On-Budget: % of GDP data remains active status in CEIC and is reported by Congressional Budget Office. The data is categorized under Global Database’s United States – Table US.F007: Federal Government Receipts and Outlays: Projection. Refer to ID: 448572137 for historic actual figures

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.

The forecasted budget balance for the U.S. government is predicted to fluctuate between the fiscal years of 2025 and 2035. This forecast predicts a deficit of 2.7 trillion U.S. dollars by fiscal year 2035. A fiscal year covers the period from October 1 to September 30 of a given year.