1) DEFICIT (on-budget)
FEDERAL BUDGET SURPLUSES AND DEFICITS AS A PERCENTAGE OF GDP
· Democratic Presidents’ annual deficits averaged 2.07% of GDP
· Republican Presidents’ annual deficits averaged 3.42% of GDP
· Total Democratic Budget Deficits: $8,085.1 billion
· Total Republican Budget Deficits: $12,442.5 billion
Dollar Amounts in Billions
|
Year |
+/-$ |
% GDP |
Administration |
Year |
+/-$ |
% GDP |
Administration |
||||||
|
1946 |
-16.9 |
-7.4 |
\ |
1982 |
-120.6 |
-3.6 |
\ |
||||||
|
1947 |
2.9 |
1.2 |
| |
1983 |
-207.7 |
-5.9 |
| |
||||||
|
1948 |
10.5 |
4.0 |
| |
1984 |
-185.3 |
-4.7 |
| |
||||||
|
1949 |
-0.7 |
-0.2 |
| |
1985 |
-221.5 |
-5.2 |
| Reagan (R) |
||||||
|
1950 |
-4.7 |
-1.7 |
| Truman (D) |
1986 |
-237.9 |
-5.3 |
| |
||||||
|
1951 |
4.3 |
1.3 |
| |
1987 |
-168.4 |
-3.5 |
| |
||||||
|
1952 |
-3.4 |
-0.9 |
| |
1988 |
-192.3 |
-3.7 |
| |
||||||
|
1953 |
-8.3 |
-2.2 |
/ |
1989 |
-205.4 |
-3.7 |
/ |
||||||
|
Total |
-16.3 |
-0.73 |
|
Total |
-1539.1 |
-4.44 |
|
||||||
|
1954 |
-2.8 |
-0.7 |
\ |
1990 |
-277.6 |
-4.7 |
\ |
||||||
|
1955 |
-4.1 |
-1.0 |
| |
1991 |
-321.4 |
-5.3 |
| Bush (R) |
||||||
|
1956 |
2.5 |
0.6 |
| |
1992 |
-340.4 |
-5.3 |
| |
||||||
|
1957 |
2.6 |
0.6 |
| Eisenhower (R) |
1993 |
-300.4 |
-4.4 |
/ |
||||||
|
1958 |
-3.3 |
-0.7 |
| |
Total |
-1239.8 |
-4.93 |
|
||||||
|
1959 |
-12.1 |
-2.4 |
| |
1994 |
-258.8 |
-3.6 |
\ |
||||||
|
1960 |
0.5 |
0.1 |
| |
1995 |
-226.4 |
-3.0 |
| |
||||||
|
1961 |
-3.8 |
-0.7 |
/ |
1996 |
-174.0 |
-2.2 |
| |
||||||
|
Total |
-20.5 |
-0.53 |
|
1997 |
-103.2 |
-1.2 |
| Clinton (D) |
||||||
|
1962 |
-5.9 |
-1.0 |
\ |
1998 |
-29.9 |
-0.3 |
| |
||||||
|
1963 |
-4.0 |
-0.6 |
| Kennedy (D) |
1999 |
1.9 |
0 |
| |
||||||
|
1964 |
-6.5 |
-1.0 |
/ |
2000 |
86.4 |
0.9 |
| |
||||||
|
Total |
-16.4 |
-0.86 |
|
2001 |
-32.4 |
-0.3 |
/ |
||||||
|
1965 |
-1.6 |
-0.2 |
\ |
Total |
-736.4 |
-1.21 |
|
||||||
|
1966 |
-3.1 |
-0.4 |
| |
2002 |
-317.4 |
-2.9 |
\ |
||||||
|
1967 |
-12.6 |
-1.5 |
| Johnson (D) |
2003 |
-538.4 |
-4.8 |
| |
||||||
|
1968 |
-27.7 |
-3.1 |
| |
2004 |
-568.0 |
-4.7 |
| |
||||||
|
1969 |
-0.5 |
-0.1 |
/ |
2005 |
-493.6 |
-3.8 |
| Bush II (R) |
||||||
|
Total |
-45.5 |
-1.06 |
|
2006 |
-434.5 |
-3.2 |
| |
||||||
|
1970 |
-8.7 |
-0.8 |
\ |
2007 |
-342.2 |
-2.4 |
| |
||||||
|
1971 |
-26.1 |
-2.3 |
| |
2008 |
-641.8 |
-4.4 |
| |
||||||
|
1972 |
-26.1 |
-2.1 |
| Nixon (R) |
2009 |
-1435.7 |
-10.0 |
/ |
||||||
|
1973 |
-15.2 |
-1.1 |
| |
Total |
-4771.6 |
-4.53 |
|
||||||
|
1974 |
-7.2 |
-0.5 |
| |
2009* |
-114.0* |
|
\ |
||||||
|
1975 |
-54.1 |
-3.4 |
/ |
2010 |
-1371.4 |
-9.2 |
| |
||||||
|
Total |
-137.4 |
-1.7 |
|
2011 |
-1366.8 |
-8.9 |
| |
||||||
|
1976 |
-69.4 |
-3.9 |
\ |
2012 |
-1138.5 |
-7.1 |
| Obama (D) |
||||||
|
1977 |
-49.9 |
-2.5 |
/ Ford (R) |
2013 |
-719.2 |
-4.3 |
| |
||||||
|
Total |
-119.3 |
-3.2 |
|
2014 |
-514.3 |
-3.0 |
| |
||||||
|
1978 |
-55.4 |
-2.4 |
\ |
2015 |
-469.2 |
-2.6 |
| |
||||||
|
1979 |
-39.6 |
-1.5 |
| Carter (D) |
2016 |
-620.2 |
-3.3 |
| |
||||||
|
1980 |
-73.1 |
-2.6 |
| |
2017 |
-714.9 |
-3.7 |
| |
||||||
|
1981 |
-73.9 |
-2.4 |
/ |
Total |
-7028.5 |
-5.26 |
/ |
||||||
|
Total |
-242.0 |
-2.23 |
|
2018 |
-785.3 |
-3.9 |
\ |
||||||
|
|
|
|
|
2019 |
-991.8 |
-4.7 |
| Trump (R) |
||||||
|
|
|
|
|
2020# |
-2836.7 |
-17.9 |
| |
||||||
|
|
|
|
|
Total |
-4613.8 |
-8.8 |
/ |
||||||
|
Democrats |
-8085.1 |
-2.07 |
|
Republicans |
-12442.5 |
-3.42 |
|
||||||
*$114 billion of 2009 Federal outlays are attributed to the American Recovery and Reinvestment Act, passed by President Obama’s Administration: http://www.cbo.gov/publication/42682
#2020 data current as of July 2020
· Source: The Office of Management and Budget: https://www.whitehouse.gov/omb/historical-tables/. Table 1.1—Summary of Receipts, Outlays, and Surpluses or Deficits (-): 1789–2025; Table 1.2—Summary of Receipts, Outlays, and Surpluses or Deficits (-) as Percentages of GDP: 1930–2025
· 2020: Monthly Treasury Statement, US Department of the Treasury: https://www.fiscal.treasury.gov/reports-statements/mts/current.html