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

Source: Deficits from FY 2009 Historical Tables, Budget of the United States Government, Table 1.2.