question archive What is the current size of the deficit of the Federal Government?

What is the current size of the deficit of the Federal Government?

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What is the current size of the deficit of the Federal Government?

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According to the U.S. Treasury Department website, datalab.usaspending.gov, the Federal Government deficit in 2019 was $984 billion. It was 4.6 percent of that year's gross domestic product (GDP) of the U.S. The government spending in 2019 was $4.4 trillion and the federal budget revenue was $3.5 trillion. The deficit in 2019 was larger than the deficits of the last six years. However, it was still lower than deficits in years attributable to the Great Recession.