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The Deficit Topped $1 Trillion in 2019

The Fiscal Times Staff

The federal budget deficit for calendar year 2019 topped $1 trillion, according to data released by the Treasury Department Monday.

Some details:

  • The shortfall from January through December totaled $1.02 trillion. (The deficit for fiscal 2019, which ran from October 2018 through September 2019, was $984 billion.)
  • It’s the first time since 2012, in the wake of the Great Recession, that the calendar-year deficit has been above $1 trillion.
  • The deficit is up 17.1% from 2018 and 50% bigger than the deficit in 2017, President Trump’s first year in office.
  • The deficit from October through December, the first three months of fiscal year 2020, was $356.6 billion, up about 12% from the previous year.

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