US/gov/budget/debt

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About

The United States is somewhat legendary for its enormous federal debt, and has been since at least the Reagan administration.

The budget deficit went from a net positive position during the Clinton-Gore administration to unsustainable levels during the Bush-Cheney administration and was then reined in substantially during the Obama-Biden administration.

Subpages

  • /alarmism: why the current deficit levels are not anything to panic about
  • /history: recent history of US federal debt

Terminology

  • A budget deficit is the amount of shortfall between income and spending. Debt increases when there is a budget deficit and decreases when there is a budget surplus.

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