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USA budget deficit:2000: $236 billion2001: $128 billion2002: $158 billion2003: $378 billion2004: $413 billion2005: $318 billion2006: $248 billion2007: $161 billion2008: $459 billion2009: $1.41 trillion 2010: $1.29 trillion 2011: $1.30 trillion 2012: $1.07 trillion 2013: $680 billion2014: $485 billion2015: $442 billion2016: $585 billion2017: $665 billion2018: $779 billion2019: $984 billion2020: $3.13 trillion2021: $2.77 trillion 2022: $1.38 trillion 2023: $1.70 trillion2024: $1.83 trillion Note: A budget deficit occurs when money going out (spending) exceeds money coming in (revenue) during a defined period. In FY 2024, the federal government spent $6.75 trillion and collected $4.92 trillion in revenue, resulting in a deficit. The amount by which spending exceeds revenue, $1.83 trillion in 2024, is referred to as deficit spending.