Govargus

Compare

Federal surplus or deficit (% of GDP), term by term

Every term lined up from its inauguration. Context is everything: compare the start of a term with the trend it inherited and with what was happening in the world (recessions, pandemics), all of which are on the full federal surplus or deficit (% of gdp) chart.

Highlight up to three terms
−20%−15%−10%−5%0%5%Inauguration12345678Years in officeJimmy CarterCarter ’77–’81Ronald ReaganReagan ’81–’89George H. W. BushBush ’89–’93Bill ClintonClinton ’93–’01George W. BushBush ’01–’09Barack ObamaObama ’09–’17Donald Trump (1st term)Trump ’17–’21Joe BidenBiden ’21–’25Donald Trump (2nd term)Trump ’25– (so far)

Actual values during each term (this is a rate, so it is compared directly rather than as a change). Second terms continue past year 4.

Of the 8 completed terms with data, the federal budget balance averaged highest under Bill Clinton, at −0.3% against −4.2% in the four years before, and lowest under Donald Trump (1st term), at −7.6% against −2.8% in the four years before.

Numbers

PresidentDuring term4 years before
Donald Trump (2nd term)no datano data
Joe Bidenavg −5.8%avg −7.6%
Donald Trump (1st term)avg −7.6%avg −2.8%
Barack Obamaavg −5.1%avg −2.0%
George W. Bushavg −2.4%avg 1.5%
Bill Clintonavg −0.3%avg −4.2%
George H. W. Bushavg −4.2%avg −3.6%
Ronald Reaganavg −4.3%avg −2.2%
Jimmy Carteravg −2.2%avg −2.5%