The U.S. fiscal deficit hit an annualized $1.06 trillion in 2018 but relatively speaking it isn’t that bad. The fiscal deficit had hit $1.5 trillion in 2009 in the aftermath of the financial crisis and the current level is the most since 2012.
And it isn’t that bad as a as percentage of GDP as well,
Interest payments on Federal debt hit $566.68 billion in 2018, which is the highest on record but …
… but relative to GDP it is 1.59% which isn’t that high.
Federal receipts (including taxes and social insurance contributions) were $3.57 trillion and expenditure was $4.57 trillion in 2018.
Gross U.S. Federal Debt as percent of Gross Domestic Product (GDP) hit 105% in 2018, the highest since 1946. The U.S. fiscal deficit might not be that bad but growing outstanding debt is definitely a problem.
