Federal Deficit (% of GDP)
The annual federal shortfall (below zero) or surplus, against the size of the economy.
| Year | Federal Deficit (% of GDP) |
|---|---|
| 1929 | +0.7% |
| 1930 | +0.8% |
| 1931 | -0.6% |
| 1932 | -4.6% |
| 1933 | -4.6% |
| 1934 | -5.4% |
| 1935 | -3.8% |
| 1936 | -5.1% |
| 1937 | -2.4% |
| 1938 | -0.1% |
| 1939 | -3.0% |
| 1940 | -2.8% |
| 1941 | -3.8% |
| 1942 | -12.4% |
| 1943 | -26.9% |
| 1944 | -21.2% |
| 1945 | -20.9% |
| 1946 | -7.0% |
| 1947 | +1.6% |
| 1948 | +4.3% |
| 1949 | +0.2% |
| 1950 | -1.0% |
| 1951 | +1.8% |
| 1952 | -0.4% |
| 1953 | -1.7% |
| 1954 | -0.3% |
| 1955 | -0.7% |
| 1956 | +0.9% |
| 1957 | +0.7% |
| 1958 | -0.6% |
| 1959 | -2.5% |
| 1960 | +0.1% |
| 1961 | -0.6% |
| 1962 | -1.2% |
| 1963 | -0.7% |
| 1964 | -0.9% |
| 1965 | -0.2% |
| 1966 | -0.5% |
| 1967 | -1.0% |
| 1968 | -2.7% |
| 1969 | +0.3% |
| 1970 | -0.3% |
| 1971 | -2.0% |
| 1972 | -1.8% |
| 1973 | -1.0% |
| 1974 | -0.4% |
| 1975 | -3.2% |
| 1976 | -3.9% |
| 1977 | -2.6% |
| 1978 | -2.5% |
| 1979 | -1.6% |
| 1980 | -2.6% |
| 1981 | -2.5% |
| 1982 | -3.8% |
| 1983 | -5.7% |
| 1984 | -4.6% |
| 1985 | -4.9% |
| 1986 | -4.8% |
| 1987 | -3.1% |
| 1988 | -3.0% |
| 1989 | -2.7% |
| 1990 | -3.7% |
| 1991 | -4.4% |
| 1992 | -4.5% |
| 1993 | -3.7% |
| 1994 | -2.8% |
| 1995 | -2.1% |
| 1996 | -1.3% |
| 1997 | -0.3% |
| 1998 | +0.8% |
| 1999 | +1.3% |
| 2000 | +2.3% |
| 2001 | +1.2% |
| 2002 | -1.4% |
| 2003 | -3.3% |
| 2004 | -3.4% |
| 2005 | -2.4% |
| 2006 | -1.8% |
| 2007 | -1.1% |
| 2008 | -3.1% |
| 2009 | -9.8% |
| 2010 | -8.6% |
| 2011 | -8.3% |
| 2012 | -6.6% |
| 2013 | -4.0% |
| 2014 | -2.8% |
| 2015 | -2.4% |
| 2016 | -3.1% |
| 2017 | -3.4% |
| 2018 | -3.8% |
| 2019 | -4.6% |
| 2020 | -14.5% |
| 2021 | -11.7% |
| 2022 | -5.3% |
| 2023 | -6.1% |
| 2024 | -6.2% |
| 2025 | -5.8% |
Hover the line to read any month. Drag across the chart to zoom; double-click to reset.
Source: FRED · FYFSGDA188S · series · Jan 1929 to Jan 2025 · latest-revised
Refreshed Jul 31, 2026 from FRED.
The annual federal shortfall (below zero) or surplus, against the size of the economy.
Federal surplus or deficit as a percentage of gross domestic product.
Source: FRED · Jan 2025 · Full lesson → Learn
About the bands. Shaded spans are NBER-dated US recessions, drawn as factual overlays. They mark when the economy contracted, not why. Lining an event up with a move is not evidence it caused the move.
Read across
No single number is the economy. These measure nearby parts of it — add one to compare, or open it on its own.
- Federal Debt (% of GDP) The accumulated stock these yearly gaps build up.
- Foreign-Held Federal Debt (Share) The share of the debt held abroad.