Numbers

Without further comment I submit the following information for your consideration:

Year US GDP $M Federal deficit $M Fed. deficit as percentage of GDP YOY GDP percentage change
2008 14291.5 458.55 3.2  
2009 13973.7 1412.69 10.1 -2.2
2010 14498.9 1294.37 8.9 3.8
2011 15075.7 1299.59 8.6 4.0
2012 15684.8 1086.97 6.9 4.0
2013 16202.7 680.27 4.2 3.3

Data for GDP are derived from the NBER. Data for the federal deficit are derived from the Census Bureau.

2 comments… add one
  • Zachriel Link

    Hmm.

    BEA is reporting $16.2 trillion for 2012, and pushing $17 trillion in 2013.
    http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

    In any case, using those numbers, you can see the difference between deficits and growth is narrowing.

    2009, 12.3
    2010, 5.1
    2011, 4.6
    2012, 2.9
    2013, 0.9

  • Ben Wolf Link

    The personal savings rate also has considerable bearing on how one may interpret this data:

    http://research.stlouisfed.org/fredgraph.png?g=qVL

    Note the surge as the recession progressed, followed by a relative plateau during the period in which budget deficits stabilized, followed by a gradual decline as deficits have begun sharply contracting.

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