U.S. budget deficit close to $1 trillion

The U.S. government’s budget deficit for the first 10 months of the 2019 financial year already exceeds the total for last year, as spending growth outpaces revenue


U.S. FEDERAL BUDGET DEFICIT	Republican 	Democrat

2019: -$867bn (with two months of fiscal year still to go). Projected to reach $1.1 trillion by year’s end


2001: Bush inherits $128bn surplus from Clinton administration

2004
Iraq War -$413bn

2005
Hurricane Katrina -$318bn

2008
Financial crisis -$459bn

2009
Economic stimulus package. -$1.4 trillion

2011
Debt crisis -$1.3 trillion

2015
Deficit lowest in Obama era -$438bn

2018
-$779bn


2001-09
George W. Bush

2009-17
Barack Obama

2017-19
Donald Trump


$bn
0
-300
-600
-900
-1,200
-1,500
Fiscal
year 	01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19


Sources: Bloomberg, The Balance 
Pictures: Associated Press 
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