US Federal Budgetary Spending by Year
This is a table of US Federal Budgetary Spending since 1789, including revenue, spending and surplus/deficit in $Billions. The last four years are projected numbers. The revenue/spending in this table do not include Social Security or the Post Office.
Last Updated 3/14/2023.
Source: Congressional Budget Office (1968-2008) & U.S. Government Printing Office (1789-1967, 2009-2019)
| Year | Revenue | Spending | Surplus/Deficit (-) |
|---|---|---|---|
| 1789 - 1849 | $1.160 | $1.090 | $0.070 |
| 1850 - 1900 | $14.462 | $14.453 | -$0.991 |
| 1901 | $0.588 | $0.525 | $0.063 |
| 1902 | $0.562 | $0.485 | $0.077 |
| 1903 | $0.562 | $0.517 | $0.045 |
| 1904 | $0.541 | $0.584 | -$0.043 |
| 1905 | $0.544 | $0.567 | -$0.023 |
| 1906 | $0.595 | $0.570 | $0.025 |
| 1907 | $0.666 | $0.579 | $0.087 |
| 1908 | $0.602 | $0.659 | -$0.057 |
| 1909 | $0.604 | $0.694 | -$0.089 |
| 1910 | $0.676 | $0.694 | -$0.018 |
| 1911 | $0.702 | $0.691 | $0.011 |
| 1912 | $0.693 | $0.690 | $0.003 |
| 1913 | $0.714 | $0.715 | −$0.001 |
| 1914 | $0.725 | $0.726 | −$0.001 |
| 1915 | $0.683 | $0.746 | -$0.063 |
| 1916 | $0.761 | $0.713 | $0.048 |
| 1917 | $1.101 | $1.954 | -$0.853 |
| 1918 | $3.645 | $12.677 | -$9.032 |
| 1919 | $5.130 | $18.493 | -$13.363 |
| 1920 | $6.649 | $6.358 | $0.291 |
| 1921 | $5.571 | $5.062 | $0.509 |
| 1922 | $4.026 | $3.289 | $0.736 |
| 1923 | $3.853 | $3.140 | $0.713 |
| 1924 | $3.871 | $2.908 | $0.963 |
| 1925 | $3.641 | $2.924 | $0.717 |
| 1926 | $3.795 | $2.930 | $0.865 |
| 1927 | $4.013 | $2.857 | $1.155 |
| 1928 | $3.900 | $2.961 | $0.939 |
| 1929 | $3.862 | $3.127 | $0.734 |
| 1930 | $4.058 | $3.320 | $0.738 |
| 1931 | $3.116 | $3.577 | -$0.462 |
| 1932 | $1.924 | $4.659 | -$2.735 |
| 1933 | $1.997 | $4.598 | -$2.602 |
| 1934 | $2.955 | $6.541 | -$3.586 |
| 1935 | $3.609 | $6.412 | -$2.803 |
| 1936 | $3.923 | $8.228 | -$4.304 |
| 1937 | $5.122 | $7.582 | -$2.460 |
| 1938 | $6.364 | $6.850 | -$0.486 |
| 1939 | $5.792 | $9.154 | -$3.362 |
| 1940 | $5.998 | $9.482 | -$3.484 |
| 1941 | $8.024 | $13.618 | -$5.594 |
| 1942 | $13.738 | $35.071 | -$21.333 |
| 1943 | $22.871 | $78.466 | -$55.595 |
| 1944 | $42.455 | $91.190 | -$48.735 |
| 1945 | $43.849 | $92.569 | -$48.720 |
| 1946 | $38.057 | $55.022 | -$16.964 |
| 1947 | $37.055 | $34.193 | $2.861 |
| 1948 | $39.944 | $29.396 | $10.548 |
| 1949 | $37.724 | $38.408 | -$0.684 |
| 1950 | $37.336 | $42.038 | -$4.702 |
| 1951 | $48.496 | $44.237 | $4.259 |
| 1952 | $62.573 | $65.956 | -$3.383 |
| 1953 | $65.511 | $73.771 | -$8.259 |
| 1954 | $65.112 | $67.943 | -$2.831 |
| 1955 | $60.370 | $64.461 | -$4.091 |
| 1956 | $68.162 | $65.668 | $2.494 |
| 1957 | $73.201 | $70.562 | $2.639 |
| 1958 | $71.587 | $74.902 | -$3.315 |
| 1959 | $70.953 | $83.102 | -$12.149 |
| 1960 | $81.851 | $81.341 | $0.510 |
| 1961 | $82.279 | $86.046 | -$3.766 |
| 1962 | $87.405 | $93.286 | -$5.881 |
| 1963 | $92.385 | $96.352 | -$3.966 |
| 1964 | $96.248 | $102.794 | -$6.546 |
| 1965 | $100.094 | $101.699 | -$1.605 |
| 1966 | $111.749 | $114.817 | -$3.068 |
| 1967 | $124.420 | $137.040 | -$12.620 |
| 1968 | $128.056 | $155.798 | -$27.742 |
| 1969 | $157.928 | $158.436 | -$0.507 |
| 1970 | $159.348 | $168.042 | -$8.694 |
| 1971 | $151.294 | $177.346 | -$26.052 |
| 1972 | $167.402 | $193.470 | -$26.068 |
| 1973 | $184.715 | $199.961 | -$15.246 |
| 1974 | $209.299 | $216.496 | -$7.198 |
| 1975 | $216.633 | $270.780 | -$54.148 |
| 1976 | $231.671 | $301.098 | -$69.427 |
| TQ | $63.216 | $77.281 | -$14.065 |
| 1977 | $278.741 | $328.675 | -$49.933 |
| 1978 | $314.169 | $369.585 | -$55.416 |
| 1979 | $365.309 | $404.941 | -$39.633 |
| 1980 | $403.903 | $477.044 | -$73.141 |
| 1981 | $469.097 | $542.956 | -$73.859 |
| 1982 | $474.299 | $594.892 | -$120.593 |
| 1983 | $453.242 | $660.934 | -$207.692 |
| 1984 | $500.363 | $685.632 | -$185.269 |
| 1985 | $547.866 | $769.396 | -$221.529 |
| 1986 | $568.927 | $806.842 | -$237.915 |
| 1987 | $640.886 | $809.243 | -$168.357 |
| 1988 | $667.747 | $860.012 | -$192.265 |
| 1989 | $727.439 | $932.832 | -$205.393 |
| 1990 | $750.302 | $1,027.928 | -$277.626 |
| 1991 | $761.103 | $1,082.539 | -$321.435 |
| 1992 | $788.783 | $1,129.191 | -$340.408 |
| 1993 | $842.401 | $1,142.799 | -$300.398 |
| 1994 | $923.541 | $1,182.380 | -$258.840 |
| 1995 | $1,000.711 | $1,227.078 | -$226.367 |
| 1996 | $1,085.561 | $1,259.580 | -$174.019 |
| 1997 | $1,187.242 | $1,290.490 | -$103.248 |
| 1998 | $1,305.929 | $1,335.854 | -$29.925 |
| 1999 | $1,382.984 | $1,381.064 | $1.920 |
| 2000 | $1,544.607 | $1,458.185 | $86.422 |
| 2001 | $1,483.563 | $1,516.008 | -$32.445 |
| 2002 | $1,337.815 | $1,655.232 | -$317.417 |
| 2003 | $1,258.472 | $1,796.890 | -$538.418 |
| 2004 | $1,345.369 | $1,913.330 | -$567.961 |
| 2005 | $1,576.135 | $2,069.746 | -$493.611 |
| 2006 | $1,798.487 | $2,232.981 | -$434.494 |
| 2007 | $1,932.896 | $2,275.049 | -$342.153 |
| 2008 | $1,865.945 | $2,507.793 | -$641.850 |
| 2009 | $1,450.980 | $3,000.661 | -$1,549.681 |
| 2010 | $1,531.019 | $2,902.397 | -$1,371.378 |
| 2011 | $1,737.678 | $3,104.459 | -$1,366.781 |
| 2012 | $1,880.489 | $3,018.975 | -$1,138.486 |
| 2013 | $2,101.832 | $2,281.070 | -$719.238 |
| 2014 | $2,285.926 | $2,800.231 | -$514.305 |
| 2015 | $2,479.518 | $2,948.773 | -$469.255 |
| 2016 | $2,457.785 | $3,077.942 | -$620.157 |
| 2017 | $2,465.566 | $3,180.429 | -$714.863 |
| 2018 | $2,475.160 | $3,260.473 | -$785.313 |
| 2019 | $2,549.061 | $3,540.339 | -$991.278 |
| 2020 | $2,455.736 | $5,598.021 | -$3,142.285 |
| 2021 | $3,094.789 | $5,818.602 | -$2,723.813 |
| 2022 (Estimate) | $3,389.419 | $4,763.683 | -$1,374.264 |
| 2023 (Estimate) | $3,537.550 | $4,605.306 | -$1,067.756 |
| 2024 (Estimate) | $3,716.495 | $4,801.456 | -$1,084.961 |
| 2025 (Estimate) | $3,868.170 | $5,051.854 | -$1,183.684 |
| 2026 (Estimate) | $4,141.722 | $5,295.202 | -$1,153.480 |
| 2027 (Estimate) | $4,380.631 | $5,533.635 | -$1,153.004 |
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Meaning every American man woman child owes $64,787.00 in 2022- or about an average yearly income. But this is not the entire amoount owed, and very unlikely that you still own the real estate you occupy.
Dividing the national debt by the total population is as irrelevant as dividing it by the number of ants in the country.
Since ants pay no taxes and 51% of the population are net consumers of taxes paid by the minority… you have a point. Under current conditions both are worthless in the effort.
However, we can reasonably expect that everyone SHOULD make some contribution, while ants probably cannot contribute.
If we look at this on a per income tax payer basis its about $168,000 each.
If we look at the US unfunded liabilities though we find perhaps a better measure of how messed up our financial situation is. That per taxpayer number goes to about $1,700,000 owed by each tax payer.
We should be asking – why did the budget increase 40% between pre-Covid 2019 and post-Covid 2023? An increase if $1.5 Trilliin, why are we stuck spending this ridiculous amount of money? Did Biden get people hooked on welfare? What’s going on? Why can’t we taken to a budget of $3.5 Trillion, or even $4 Trillion allowing for growth?
It means that every sitting President since Bill Clinton spent more money then the budget in place! And it is more than likely going to raise the deficit with the new sitting president this year in 2025! He more then likely will cut it down a bit but still over the budget by a few trillion!
Not really, because 1/3rd are youth or retirees, 1/3rd are on welfare or earn so little that they pay $0, the other 1/3rd of us owe $250,000 each
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Ray: Debt per capita is sensible because it is people who pay interest on the debt. Ants don’t.
It’s true that MMT advocates say otherwise, but their arguments belong in the fantasy section, along with unicorns and magical elves.