Oddbean

US budget deficit rises to all-time high under Biden ========== The US budget deficit has reached an all-time high of US$6.6 trillion during Joe Biden's presidency; this figure is based on data from the US Treasury Department; in 2021, the deficit was US$2.8 trillion (13% of GDP); in 2022, it decreased to US$1.4 trillion (6.3% of GDP); in 2023, it increased to US$1.7 trillion (7.6% of GDP); for the first half of 2024, the deficit was US$758.2 billion (5.5% of GDP); Donald Trump accumulated a total deficit of US$5.6 trillion during his presidency; Barack Obama reduced the deficit from US$5.1 trillion to US$2.2 trillion; the last US budget surplus was in 2001 under George W. Bush; the national debt exceeded US$35 trillion in July 2024. #UsBudget #Deficit #Biden #Trump #NationalDebt #Economy #Gdp #UsTreasury #HistoricalData #GovernmentSpending https://www.nst.com.my/business/economy/2024/08/1093194/us-budget-deficit-rises-all-time-high-under-biden