2009 Federal Revenue and Spending Book of Charts

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Obama's Budget Would Create Unprecedented Deficits

Since the 1960s, deficits driven largely by increased levels of spending have been the norm, while surpluses were an exception. The 2009 Congressional Budget Office deficit projection under President Obama's plan is far above the 45-year historical average of 2.2 percent of GDP.

Average Federal Deficit as a Percentage of GDP by Administration

Average Federal Budget Deficit
 
Source: Congressional Budget Office; White House Office of Management and Budget.

Key Research:
Debt and Deficits

Federal Budget Deficits Will Reach Levels Never Seen Before in the U.S.



Obama's Budget Would Send Debt to Levels Not Seen Since World War II



Obama's Budget Would Increase Debt by 13.8 Percent of GDP Compared to CBO Baseline



Obama's Budget Would Create Unprecedented Deficits



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