GDP in 2009, making it by far the largest budget deficit relative to GDP since the mammoth borrowing used to finance World War II.įederal spending in nominal dollars (that is, dollars not adjusted for inflation) has grown by a multiple of more than 38 over the last four decades, from $92 billion in 1960 to $3.9 trillion in 2014. This deficit was about 10% of the size of the U.S. government experienced its largest budget deficit ever, as the federal government spent $1.4 trillion more than it collected in taxes. If government spending and taxes are equal, it is said to have a balanced budget. Conversely, when the government receives more money in taxes than it spends in a year, it runs a budget surplus. When the federal government spends more money than it receives in taxes in a given year, it runs a budget deficit. Government spending covers a range of services provided by the federal, state, and local governments. Describe the federal budget and identify deficit and surplus trends over the past five decades. ![]() Year FY 2011 Outlays FY 2012 Outlays FY 2013 Outlays FY 2014 Outlays FY 2015 Outlays FY 2016 Outlays Then press Ctrl-A and Ctrl-C and paste the text into your spreadsheet. ![]() ![]() ![]() You can copy all the text in the textbox by clicking your cursor in Here is the budget table with columns tab-delimited. For federal spending line items (but not revenue) you can drill down three levels to view about 4,000 items of spending at the “agency code” level. Drill-down: Click on the to drill down to more detailed numbers.
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