- Introduction
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- Federal Revenue
- Taxes & Tax Rates
- Federal Spending
- Budget Comparisons
- Projected Spending
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All Recent Administrations Ran Up Budget Deficits |
Since the 1960s, deficits driven largely by increased levels of spending have been the norm, while surpluses were an exception. The current 2008 deficit projection — 2.9 percent of GDP — is slightly above the 45-year historical average of 2.8 percent of GDP. |
Average Federal Deficit as a Percentage of GDP, by Administration |
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Source: Deficits from FY 2009 Historical Tables, Budget of the United States Government, Table 1.2. |
