National Debt, Deficits, Interest & Money Supply · U.S. Office of Management and Budget (OMB)
U.S. Federal Budget Deficit or Surplus by Year (1929-2025)
The federal fiscal balance equals total federal tax receipts minus total outlays each fiscal year. Negative values indicate a budget deficit. In 2025, federal budget deficit recorded -5.77% of GDP, compared with -6.20 in 2024. Across the 97-year archive (1929-2025), readings have ranged between -26.86 (1943) and 4.30 (1948).
Series Summary Ledger
- 2025 Reading-5.77
- 2024 Reading-6.20
- All-Time High (1948)4.30
- All-Time Low (1943)-26.86
- Reporting Unit% of GDP
- Series CodeFYFSGDA188S / FYFSD
U.S. Office of Management and Budget (OMB) · 1929-2025
U.S. Federal Budget Deficit or Surplus by Year (1929-2025)
2025 Reading: -5.77 % of GDP
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DECADE BENCHMARKS (1950s-2020s)
Federal Budget Deficit by Decade
| Decade | Mean | Min | Max |
|---|---|---|---|
| 1950s | -0.38 | -2.46 | 1.76 |
| 1960s | -0.73 | -2.67 | 0.32 |
| 1970s | -1.93 | -3.94 | -0.26 |
| 1980s | -3.77 | -5.72 | -2.46 |
| 1990s | -2.07 | -4.45 | 1.30 |
| 2000s | -2.28 | -9.76 | 2.30 |
| 2010s | -4.76 | -8.60 | -2.42 |
| 2020s | -8.25 | -14.48 | -5.27 |
Federal Budget Deficit Year-by-Year Historical Table (1929-2025)
Source: U.S. Office of Management and Budget (OMB) (FYFSGDA188S / FYFSD)| Year | Federal Budget Deficit (% of GDP) | Annual Change | Nominal Surplus / Deficit ($ Billions) |
|---|---|---|---|
| 2025 | -5.77 | +0.43 | -1,774.68 |
| 2024 | -6.20 | -0.13 | -1,815.38 |
| 2023 | -6.07 | -0.79 | -1,687.47 |
| 2022 | -5.27 | +6.42 | -1,374.17 |
| 2021 | -11.69 | +2.79 | -2,773.59 |
| 2020 | -14.48 | -9.92 | -3,095.65 |
| 2019 | -4.57 | -0.79 | -983.59 |
| 2018 | -3.77 | -0.38 | -779.07 |
| 2017 | -3.39 | -0.28 | -665.45 |
| 2016 | -3.11 | -0.69 | -584.65 |
| 2015 | -2.42 | +0.34 | -441.96 |
| 2014 | -2.75 | +1.27 | -484.79 |
| 2013 | -4.03 | +2.60 | -679.77 |
| 2012 | -6.62 | +1.71 | -1,076.57 |
| 2011 | -8.33 | +0.27 | -1,299.60 |
| 2010 | -8.60 | +1.16 | -1,294.37 |
| 2009 | -9.76 | -6.65 | -1,412.69 |
| 2008 | -3.10 | -1.99 | -458.55 |
| 2007 | -1.11 | +0.69 | -160.70 |
| 2006 | -1.80 | +0.65 | -248.18 |
| 2005 | -2.44 | +0.94 | -318.35 |
| 2004 | -3.38 | -0.08 | -412.73 |
| 2003 | -3.30 | -1.85 | -377.58 |
| 2002 | -1.44 | -2.66 | -157.76 |
| 2001 | 1.21 | -1.09 | 128.24 |
| 2000 | 2.30 | +1.00 | 236.24 |
| 1999 | 1.30 | +0.54 | 125.61 |
| 1998 | 0.76 | +1.02 | 69.27 |
| 1997 | -0.26 | +1.08 | -21.88 |
| 1996 | -1.33 | +0.82 | -107.43 |
| 1995 | -2.15 | +0.64 | -163.95 |
| 1994 | -2.79 | +0.93 | -203.19 |
| 1993 | -3.72 | +0.73 | -255.05 |
| 1992 | -4.45 | -0.08 | -290.32 |
| 1991 | -4.37 | -0.67 | -269.24 |
| 1990 | -3.71 | -1.00 | -221.04 |
| 1989 | -2.71 | +0.26 | -152.64 |
| 1988 | -2.96 | +0.12 | -155.18 |
| 1987 | -3.08 | +1.75 | -149.73 |
| 1986 | -4.83 | +0.06 | -221.23 |
| 1985 | -4.89 | -0.30 | -212.31 |
| 1984 | -4.59 | +1.13 | -185.37 |
| 1983 | -5.72 | -1.89 | -207.80 |
| 1982 | -3.83 | -1.36 | -127.98 |
| 1981 | -2.46 | +0.12 | -78.97 |
| 1980 | -2.58 | -1.03 | -73.83 |
| 1979 | -1.55 | +0.97 | -40.73 |
| 1978 | -2.52 | +0.06 | -59.19 |
| 1977 | -2.58 | +1.36 | -53.66 |
| 1976 | -3.94 | -0.78 | -73.73 |
| 1975 | -3.16 | -2.76 | -53.24 |
| 1974 | -0.40 | +0.65 | -6.13 |
| 1973 | -1.05 | +0.78 | -14.91 |
| 1972 | -1.83 | +0.15 | -23.37 |
| 1971 | -1.98 | -1.71 | -23.03 |
| 1970 | -0.26 | -0.58 | -2.84 |
| 1969 | 0.32 | +2.99 | 3.24 |
| 1968 | -2.67 | -1.67 | -25.16 |
| 1967 | -1.01 | -0.55 | -8.64 |
| 1966 | -0.45 | -0.26 | -3.70 |
| 1965 | -0.19 | +0.67 | -1.41 |
| 1964 | -0.86 | -0.12 | -5.92 |
| 1963 | -0.75 | +0.44 | -4.76 |
| 1962 | -1.18 | -0.59 | -7.15 |
| 1961 | -0.59 | -0.65 | -3.33 |
| 1960 | 0.06 | +2.52 | 0.30 |
| 1959 | -2.46 | -1.89 | -12.85 |
| 1958 | -0.58 | -1.30 | -2.77 |
| 1957 | 0.72 | -0.16 | 3.41 |
| 1956 | 0.88 | +1.58 | 3.95 |
| 1955 | -0.70 | -0.41 | -2.99 |
| 1954 | -0.30 | +1.37 | -1.15 |
| 1953 | -1.67 | -1.25 | -6.49 |
| 1952 | -0.41 | -2.17 | -1.52 |
| 1951 | 1.76 | +2.80 | 6.10 |
| 1950 | -1.04 | -1.25 | -3.12 |
| 1949 | 0.21 | -4.08 | 0.58 |
| 1948 | 4.30 | +2.69 | 11.80 |
| 1947 | 1.61 | +8.61 | 4.02 |
| 1946 | -7.00 | +13.85 | -15.94 |
| 1945 | -20.86 | +0.33 | -47.55 |
| 1944 | -21.19 | +5.67 | -47.56 |
| 1943 | -26.86 | -14.51 | -54.55 |
| 1942 | -12.35 | -8.53 | -20.50 |
| 1941 | -3.82 | -0.98 | -4.94 |
| 1940 | -2.84 | +0.21 | -2.92 |
| 1939 | -3.05 | -2.94 | -2.85 |
| 1938 | -0.10 | +2.26 | -0.09 |
| 1937 | -2.36 | +2.72 | -2.19 |
| 1936 | -5.07 | -1.30 | -4.30 |
| 1935 | -3.78 | +1.59 | -2.80 |
| 1934 | -5.37 | -0.82 | -3.59 |
| 1933 | -4.55 | +0.04 | -2.60 |
| 1932 | -4.59 | -4.00 | -2.73 |
| 1931 | -0.60 | -1.40 | -0.46 |
| 1930 | 0.80 | +0.10 | 0.74 |
| 1929 | 0.70 | - | 0.73 |
Related Debt & Fiscal Series
- U.S. National Debt by Year & Debt-to-GDP Ratio (1966-2025)38.51
- U.S. Federal Debt-to-GDP Ratio by Year (1966-2025)120.7
- U.S. Federal Net Interest Payments on National Debt (1940-2025)3.15
- U.S. Federal Tax Receipts vs. Outlays (% of GDP 1929-2025)17.02
- U.S. M2 Money Supply by Year (1959-2025)22,355.3
- 10-Year U.S. Treasury Yield History by Year (1962-2025)4.29