Us Government Deficit 2024. The deficit reduction in the budget increases over time, with over $500 billion of deficit reduction in 2034. Deficit tops half a trillion dollars in the first quarter of fiscal year.

The federal government ran a deficit of $236 billion in march 2024 — $142 billion less than the deficit of $378 billion that was recorded in march 2023. In fiscal year (fy) 2024, the federal government encountered a national deficit of $1.52 trillion as a consequence of its expenditures surpassing its revenues.