February 26, 2009 / 6:19 PM / 11 years ago

FACTBOX-U.S. budget balance history

 Feb 26 (Reuters) - U.S. President Barack Obama on Thursday
proposed a budget that foresees a record deficit of $1.75
trillion, or 12.3 percent of GDP, this year.
 As measured against the economy, it would be the largest
deficit since 1945, when the U.S. budget shortfall equaled 21.5
percent of the nation's gross domestic product.
 Following are actual figures for budget surpluses or
deficits for the fiscal years 1990-2008, and the latest
projections from both the White House and the Congressional
Budget Office.
 BUDGET YEAR   SURPLUS OR DEFICIT (-)  AS PCT OF GDP
 2008          -$459   bln             -3.2
 2007          -$162.0 bln             -1.2
 2006          -$248.2 bln             -1.9
 2005          -$318.3 bln             -2.6
 2004          -$412.7 bln             -3.6
 2003          -$377.6 bln             -3.5
 2002          -$157.8 bln             -1.5
 2001           $128.2 bln              1.3
 2000           $236.2 bln              2.4
 1999           $125.6 bln              1.4
 1998           $ 69.3 bln              0.8
 1997          -$ 21.9 bln             -0.3
 1996          -$107.4 bln             -1.4
 1995          -$164.0 bln             -2.2
 1994          -$203.2 bln             -2.9
 1993          -$255.1 bln             -3.9
 1992          -$290.3 bln             -4.7
 1991          -$269.2 bln             -4.5
 1990          -$221.0 bln             -3.9
 Recent budget projections:
 White House, released Feb. 26:
 2009        -$1,752 bln              -12.3
 2010        -$1,171 bln              - 8.0
 2011        -$  912 bln              - 5.9
 2012        -$  581 bln              - 3.5
 2013        -$  533 bln              - 3.0
 2014        -$  570 bln              - 3.1
 Note: White House projections assume passage of the
administration's budget proposals.
 Congressional Budget Office, Jan. 7:
 2009        -$1,186 bln              - 8.3
 2010        -$  703 bln              - 4.9
 2011        -$  498 bln              - 3.3
 2012        -$  264 bln              - 1.6
 2013        -$  257 bln              - 1.5
 2014        -$  250 bln              - 1.4
 Note: Unlike the White House forecasts, the CBO projections
were based on current law; they did not take into account the
impact of the fiscal stimulus bill signed into law on Feb. 17.
 (Compiled by Washington economics team)


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