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Bookmark or Share- Monthly Budget Review: Summary for Fiscal Year 2024The federal government incurred a deficit of $255 billion in October 2024, CBO estimates—$189 billion more than the shortfall recorded last October. Revenues were lower this October (the first month of fiscal year 2025) than a year ago and outlays were higher.
- Breaking Down the U.S. Government’s 2024 Fiscal YearBelow, we show the U.S. government’s total receipts by source and outlays by function for the fiscal year 2024. The U.S. government is currently running a significant deficit of $1.83 trillion, an increase of $138 billion from fiscal year 2023.
- Deficit Tracker - Bipartisan Policy CenterThe Congressional Budget Office estimates that the federal government ran a deficit of $312 billion in February 2021, the fifth month of fiscal year 2021. This month’s deficit—the difference between $246 billion in revenue and $558 billion in spending—was $77 billion more than last February’s.
- U.S. Budget Deficit by Year - The BalanceAccording to the Congressional Budget Office (CBO), the budget deficit will rise from $1.6 trillion, or 5.6% of GDP, in fiscal year 2024 to $2.6 trillion, or 6.1% of GDP, in 2034. Meanwhile, the budget deficit in 2020 was about $3.1 trillion, the largest in U.S. history.
- 2024 Current State of the Union: US Federal Budget - USAFactsThe federal government spent 38.0% more than it collected in FY 2023, resulting in a $1.7 trillion deficit. This was higher than the FY 2022 deficit ($1.45 trillion), but lower than the FY 2020 and FY 2021 deficits (both exceeding $3.0 trillion).
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