The highest deficit as a percentage of GDP in U.S. history was 29.6% in 1943, the first of three straight years when the ratio was at least 21% (1943 – 1945). Through 7 months of fiscal year 2021, the 7 months ending 04/30/21, the U.S. Government’s $1.932 trillion budget deficit to date represents 8.8% of our $22 trillion economy. Source U.S. Treasury Department. GDP is the annual market value of all goods and services produced domestically by the U.S.
U.S. Budget Deficit
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June 28, 2021