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Bookmark or Share- What is the federal government’s budget deficit? | USAFactsThis can provide a preliminary look at the deficit or surplus and may sometimes be more than a year ahead of OMB’s data. As of September, the FY 2024 budget deficit has reached $1.8 trillion. This is higher than the deficit was in the same month of FY 2023.
- National Deficit | U.S. Treasury Fiscal DataThe amount by which spending exceeds revenue, $ trillion in 0, is referred to as deficit spending. The opposite of a budget deficit is a budget surplus, which occurs when the federal government collects more money than it spends. The U.S. has experienced a fiscal year-end budget surplus four times in the last 50 years, most recently in 2001.
- Monthly Budget Review: Summary for Fiscal Year 2024In fiscal year 2024, which ended on September 30, the federal budget deficit totaled $1.8 trillion—an increase of $138 billion (or 8 percent) from the shortfall recorded in the previous year. Revenues and outlays alike increased from 2023 totals: Revenues rose by 11 percent, or $479 billion, and outlays increased by 10 percent, or $617 billion.
- Outlook for the Budget and the Economy - Congressional Budget OfficeCBO’s updated projections show a federal budget deficit of $1.5 trillion for 2023. That estimate is subject to considerable uncertainty, though, in part because of a recent shortfall in tax revenues.
- U.S. Budget Deficit by Year - The BalanceEconomists debate the merits of running a budget deficit, so there isn't one agreed-upon situation where a deficit is considered good or bad. Generally, a deficit is a byproduct of expansionary fiscal policy , which is designed to stimulate the economy and create jobs.
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