Federal Deficits and Surpluses, 1930 - 2009 (As a Percentage of GDP)

A deficit is when the outlays exceed revenues and a surplus is when revenues exceed outlays.

The chart indicates how large the deficit or suplus was as compared to the size of the economy. After World War II ended, the significant deficits in relation to the size of the economy were during the 1980s and at present.
 

 

Source: Office of Management and Budget, Budget of the U.S. Government, FY2009, Historical Tables.
 

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