What was the federal deficit in 2014?

What was the federal deficit in 2014?

2014 United States federal budget

Submitted April 10, 2013
Total expenditures $3.77 trillion (requested) $3.506 trillion (actual) 20.3% of GDP (actual)
Deficit $744 billion (requested) 4.4% of GDP (requested) $484.6 billion (actual) 2.8% of GDP (actual)
Debt $17.79 trillion (at fiscal end) 103.2% of GDP
GDP $17.244 trillion

What was 2008 deficit?

2008 United States federal budget

Submitted February 5, 2007
Deficit $239 billion (requested) $458.6 billion (actual) 3.1% of GDP (actual)
Debt $9.986 trillion (at fiscal end) 67.7% of GDP (actual)
GDP $14.752 trillion
Website Office of Management and Budget

What was the deficit in 2016?

2016 United States federal budget

Submitted February 2, 2015
Total revenue $3.525 trillion (requested) $3.268 trillion (actual) 17.8% of GDP
Total expenditures $3.999 trillion (requested) $3.853 trillion (actual) 20.9% of GDP
Deficit $474 billion (requested) $585 billion (actual) 3.2% of GDP
Debt $19.57 trillion (actual)

What was the national deficit in 2015?

$439 billion
At $439 billion, the 2015 deficit constituted the smallest since 2007, and at 2.5 percent of gross domestic product, it was below the average deficit (relative to the size of the economy) over the past 50 years.

What was the deficit in 2013?

$680 billion
The federal government incurred a budget deficit of $680 billion in fiscal year 2013, which was $409 billion less than the deficit in fiscal year 2012. The fiscal year that just ended marked the first since 2008 that the deficit was under $1 trillion.

How much debt is the US in 2014?

In September 2020, the national debt had risen up to 26.95 trillion U.S. dollars….Public debt of the United States from 1990 to 2020 (in billion U.S. dollars)

Year National debt (in billion U.S. dollars)
’16 19,573.45
’15 18,150.62
’14 17,824.07

What was the deficit in 2020?

$3.1 trillion
The federal government ran a deficit of $3.1 trillion in fiscal year 2020, more than triple the deficit for fiscal year 2019. This year’s deficit amounted to 15.2% of GDP, the greatest deficit as a share of the economy since 1945. FY2020 was the fifth year in a row that the deficit as a share of the economy grew.

When was the last time the United States had a budget surplus?

According to the Congressional Budget Office, the United States last had a budget surplus during fiscal year 2001.

What was the deficit in 2012?

$1.101 trillion
Total revenues and spending The Obama administration’s budget request contained $2.627 trillion in revenues and $3.729 trillion in outlays (expenditures) for 2012, for a deficit of $1.101 trillion.

What was the deficit in 2018?

$779 Billion
The Treasury Department today released a fiscal year-end report showing that the deficit for FY 2018 increased to $779 billion, a $113 billion (or 17 percent) increase from FY 2017. The deficit is 3.9 percent of Gross Domestic Product (GDP), also up from 3.5 percent in 2017.

What was the deficit when Reagan was in office?

“Morons: ‘Democrats cause deficits,’” the original tweet reads. Reagan took the deficit from 70 billion to 175 billion. Bush 41 took it to 300 billion. Clinton got it to zero. Bush 43 took it from 0 to 1.2 trillion. Obama halved it to 600 billion.

What does it mean when a president has a deficit?

The deficit by president reveals how much deficit was in each year’s budget, which can increase the debt. The national debt of the United States is the total unpaid borrowed funds carried by the federal government.

When was the last time the US had a deficit?

Most of that deficit belongs to the previous president since he created the federal budget for that year. President George W. Bush’s last budget, for Fiscal Year (FY) 2009, created a deficit of $1.4 trillion. 2  That fiscal year began on Oct. 1, 2008, and continued until Sept. 30, 2009.

How is the federal deficit different from the national debt?

The Federal Deficit The federal deficit differs from the national debt in that the deficit is the difference between revenue and spending in a single year, whereas the national debt is measured since the country’s inception and over the country’s lifetime. Deficits and debt are definitely related.