Tag Archives | Obama Deficits

Taming the Deficit (Rumors)

Recent US Federal Deficit Numbers

Obama Deficits Bush Deficits
FY 2012: $1,101 billion FY 2009: $1,413 billion
FY 2011: $1,299 billion FY 2008: $248 billion
FY 2010: $1,293 billion FY 2007: $161 billion

The federal deficit is the amount each year by which federal outlays in the federal budget exceed federal receipts. But the gross federal debt increases each year by substantially more than the amount of the deficit each year. That is because a substantial amount of federal borrowing is not counted in the budget. See here.

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