Spending

Spending Analyses
Total Spending Analysis Federal Spending Analysis State Spending Analysis Local Spending Analysis
Entitlement Analyses
Entitlement Spending Analysis Social Security Analysis Medicare Analysis Medicaid Analysis Welfare Analysis
Education Analyses
Total Education Analysis Federal Education Analysis State Education Analysis Local Education Analysis
Federal Mandatory Spending Analysis
Interest Analyses
Total Interest Analysis Federal Interest Analysis State Interest Analysis Local Interest Analysis
Defense Analysis Great Enrichment Federal Grant Analysis US Inflation Analysis TARP Bailout Analysis
Revenue Analyses
Total Revenue Analysis Federal Revenue Analysis State Revenue Analysis Local Revenue Analysis
Federal Budget Analysis

Deficit – Debt

Federal Deficit Analysis Deficit Analysis as Percent GDP Deficit Analysis as Percent Spending
Debt Analyses
Total Debt Analysis Federal Debt Analysis State Debt Analysis Local Debt Analysis
Federal Yield Curve Analysis Federal Agency Debt Analysis

Spending 101

Spending 101 Courses Taxes 101 Courses

History

Current Spending Brief Recent Spending Brief Future Spending Brief Overall History Defense Spending History
Social Spending History
Entitlement Spending History Pensions Spending History Health Care Spending History Education Spending History Welfare Spending History
States Spending History Debt Deficit History Recent Debt History Agency Debt History Revenue History

Deficit Analysis

Federal Deficit Federal Deficit as Percent GDP Federal Deficit as Percent Spending Deficit History Download Deficit

Debt Analysis

Debt Clock
Debt Analyses
Total Debt Analysis Federal Debt Analysis State Debt Analysis Local Debt Analysis
Federal Agency Debt Analysis Debt History Recent Debt History Agency Debt History Download Debt

State Spending

State Spending Rank State Welfare Spending Rank State Debt Rank
State Spending Maps
Total State Spending Map Pension State Spending Map Health Care State Spending Map Education State Spending Map Welfare State Spending Map State Debt Map
State Spending Bubble Charts
Total State Spending Bubble Chart Pensions State Spending Bubble Chart Health State Spending Bubble Chart Education State Spending Bubble Chart Welfare State Spending Bubble Chart State Debt Bubble Chart
States GDP Rank States History States Taxes

Headline

Total Spending Overview Federal Spending Overview State Spending Overview Local Spending Overview Total Spending in trillions Breakdown in trillions Breakdown as percent GDP Breakdown as per capita

US Spending Details

Spending Details Spending in Percent GDP Spending per Capita Spending Change
Spending Pie Charts
Total Spending Pie Chart Federal Spending Pie Chart State Spending Pie Chart Local Spending Pie Chart
Welfare Spending Defense Spending Pension Spending Health Care Spending Education Spending

Download

Download Central Download Year Spend Download Multi Years Download Deficit Download Debt Download Raw Data Download Taxes

Chart Galleries

Total Spending Federal Spending State Spending Local Spending Federal Budget Estimates Federal Budget Estimate vs. Actual Total Debt Federal Debt

Bar Charts

Make Spending Chart Make Local Spending Chart Make Federal Budget Chart Make Fed. Budget Chart Est. vs. Actual Make Debt Chart Social Security OASI Chart Social Security DI Chart
Medicare Charts
Overall Medicare Chart Medicare HI Chart Medicare SMI Chart Medicare Advantage Chart Medicare SMI Drug Chart
US GDP Chart Chart Wizard

Pie Charts

US Pie Chart Federal Pie Chart Federal Budget Pie Chart State Pie Chart State & Local Pie Chart Local Pie Chart

Current Budget

Current Budget FY2027 Chart Gallery Budget Outlays Actual Outlay Details Est. vs. Actual Outlays Budget Authority Estimated Budget Authority vs. Actual Revenue Budget

Budget Misc

Previous Budgets
FY2026 BudgetFY2025 BudgetFY2024 BudgetFY2023 BudgetFY2022 BudgetFY2021 Budget
Compare Budgets Interest Analysis CBO Long Term Medicare Trustees Soc. Security Trustees

Budget Bar Charts

Budget Forecasts Budget Estimate vs. Actual Custom Budget Chart Budget Est. vs. Actual Charts

Revenue Data

Taxes Home Revenue Totals Revenue Breakdown Revenue Details Revenue Change Chart Gallery Revenue Analysis Revenue History Revenue Budget State Taxes

Revenue Charts

Chart Gallery Make Custom Chart

Analysis & History

Revenue Analysis Revenue History
Taxes 101

FAQ

Data Sources Spending Category Definitions Federal Budget Medicare Breakdown State/Local Spending Federal/State GDP

FAQ cont.

US Population All About Welfare WWI WWII Defense All About "Guesstimates" Intergovernmental Transfers Feds Borrow More Than Deficit Data Update Schedule All FAQs

Site Tour

Site Tour

Blog by Year

Blog for 2026Blog for 2025Blog for 2024Blog for 2023Blog for 2022Blog for 2021Blog for 2020
 Site Map  enter code:
Sunday June 7, 2026 
compiled by Christopher Chantrill

Spending Analyses:

Debt, Deficit Analyses:

Numbers — Charts:

 

    Contact    

Debt and Deficit Facts

Right now the Gross Federal Debt is $39,232,150,577,283.87.

At the end of FY 2025 the debt was $37.37 trillion, or 121.5% GDP.
The previous highest federal debt in US history was 119.0% GDP in 1946 just after World War II.

At the end of FY 2025 the federal deficit was $1,775 billion, or 5.8% GDP.
The highest federal deficit in US history was 29.0% GDP in 1943 in World War II.

a usgovernmentdebt.us briefing:

smaller text  bigger text    print view

US Agency Debt History

A Half Century of Agency Debt

Not all the debt of the Government of the United States counts in the official total of the federal debt kept by the Department of the Treasury. This additional debt, typically the bonds of government-sponsored agencies (GSEs) like the Federal National Mortgage Association and the Federal Home Loan Board, has grown to be a substantial part of government-sponsored debt in the post World War II era.

Federal Agency Debt 1945-2020

Chart 4.21: Federal Agency Debt 1945-2020

Agency debt started the immediate post World War II era at a level of debt less than 0.5 percent of GDP and didn’t hit 1 percent of GDP till 1957.

But then agency debt began an exponential rise, with debt hitting 2 percent of GDP in 1965, blowing past 5 percent of GDP in 1973, reaching 10 percent of GDP in 1981.

Agency debt blew past 20 percent of GDP in 1988, exceeded 30 percent of GDP in 1995, and hit 40 percent of GDP in 1999, and agency debt peaked at 52 percent of GDP in 2003 at the end of the 2000-02 recession.

In the 2000s expansion agency debt declined to 46.7 percent of GDP by 2006, but then blew off in the Crash of 2008, peaking at 56.1 percent of GDP in the Great Recession year of 2009.

After the Crash of 2008 agency debt decreased rapidly to 46.6 percent of GDP by 2012 and then began a more gradual decline to 45 percent of GDP by 2018. In the COVID crisis year of 2020 agency debt increased to 48.2 percent of GDP.

Agency Debt Compared to US Treasury Debt

Agency Debt vs. Treasury Debt

Chart 4.22: Agency Debt vs. Treasury Debt

At the end of World War II, the gross public debt issued by the US Treasury hit 114 percent of GDP. The agency debt, at agencies like the Federal National Mortgage Association, was a tiny 0.38 percent of GDP.

By 1980 the Treasury Debt had been brought down to 32 percent of GDP, but the agency debt had increased to nearly 10 percent of GDP.

After 1980 Treasury debt began a sustained increase, during the Reagan defense buildup, reaching nearly 54 percent of GDP in 1990. Agency debt increased rapidly too, reaching nearly 24 percent of GDP in 1990. The increase extended into the 1990s, with Treasury debt peaking at 64 percent of GDP and agency debt exceeding 30 percent of GDP in 1995.

In the late 1990s the Treasury debt declined, down to 54 percent of GDP by 2001. But agency debt kept on climbing, hitting 50 percent of GDP in 2002. By the peak of the 2000s expansion in 2006 Treasury debt had increased to 61 percent of GDP to fight the war in Iraq, while agency debt had declined to 47 percent of GDP.

Then came the Great Recession and the Crash of 2008. By 2014 Treasury debt had increased to 102 percent of GDP. Agency debt, now mainly Fannie Mae and Freddie Mac bonds in receivership, peaked at 56 percent of GDP in 2009, and then declined to 45 percent of GDP by 2018.

In the COVID crisis year of 2020 Treasury debt increased to 128 percent GDP, while agency debt increased to 48 percent of GDP.

past
spending
recent
spend
past
debt
recent
debt
agency
debt
state
debt
revenue
history

Spending 101 Courses

Spending | Federal Debt | Revenue | Defense | Welfare | Healthcare | Education
Debt History | Entitlements | Deficits | State Spending | State Taxes | State Debt


There’s More...

usgovernmentspending.com.

Where you go to get facts about government.

Prepared by Christopher Chantrill.
email: chrischantrill@gmail.com

Click the image on the right to buy usgovernmentspending.com’s ebook.
It costs only $1.99 and it contains all the analyses of spending history
on the website and more.

Suggested Video: Spending 101

Top Debt Requests:

Find DEFICIT stats and history.

US BUDGET overview and pie chart.

Find NATIONAL DEBT today.

See FEDERAL BUDGET breakdown and estimated vs. actual.

See BAR CHARTS of debt, debt.

Check STATE debt: CA NY TX FL and compare.

See DEBT ANALYSIS briefing.

See DEBT HISTORY briefing.

Take a COURSE at Spending 101.

Make your own CUSTOM CHART.

Debt Data Sources

Debt data is from official government sources.

Gross Domestic Product data comes from US Bureau of Economic Analysis and measuringworth.com.

Detailed table of debt data sources here.

Federal debt data begins in 1792.

State and local debt data begins in 1820.

State and local debt data for individual states begins in 1957.

More Topics

DeficitDeficit
Pct GDP		Recent
Debt		State
Debt		Debt
History		Federal
Budget
Click to view

Gross Federal Debt

Debt Now:  $39,232,150,577,283.87
Debt 2/2020:$23,409,959,150,243.63

Videos

 Spending 101

 What is the Deficit?

 All About Debt

 All About Welfare

 US Defense Spending

 Taxes 101

 All About Income Tax
 

Site Search

Spending 101

Take a course in government spending:

Spending | Federal Debt | Revenue
Defense | Welfare | Healthcare | Education
Debt History | Entitlements | Deficits
State Spending | State Taxes | State Debt

It’s free!

Win Cash for Bugs

File a valid bug report and get a $5 Amazon Gift Certificate.

Top Links

Headline Spending

Federal Debt Chart

Federal Deficit Chart

Debt, Deficit History

Federal Budget Charts

Federal Budget Numbers

Welfare Spending

Get the Books


Price: $0.99
Or download
for free.
From
usgovernment
spending.com
Price: $1.99
Life after liberalism Price: $0.99
Or download
for free.

US Government Spending 2020: only 99¢.

US Government Spending 2012: free.

Data Sources for 2026:

GDP, GO: GDP, GO Sources
Federal: Fed. Budget: Hist. Tables 3.2, 5.1, 7.1
State and Local: State and Local Gov. Finances
'Guesstimated' by projecting the latest change in reported spending forward to future years

> data sources for other years
> data update schedule.

Blog

Gross State Product for 2025

The US Bureau of Economic Analysis (BEA) released its Gross State Product (GSP) data for 2025 on April 9, 2026.

Usgovernmentspending.com has updated its individual state GSPs for 2025 for each state using the projected national GDP numbers from Table 10.1 in the Historical Tables for the Federal FY2027 Budget and the historical GDP data series from the BEA as a baseline.

Process:

  1. Click on link.
  2. Click on "Interactive Data" link
  3. Click on "Interactive Tables: GDP by State" link
  4. Click on "Annual Gross Domestic Product (GDP) by State"
  5. Click on "Summary Tables for GDP, personal income, and related data."
  6. Click on "SASUMMARY"
  7. Area: Select "All Areas"
  8. Statistic: Select "Real GDP..." and "Gross domestic product (GDP)"
  9. Click on Next Step button
  10. Time Period: Select "All Years"
  11. Click on Next Step button
  12. Click on Download button
  13. Select CSV 
Federal Budget for FY27 Released
On April 4, 2026, we updated usgovernmentspending.com with the numbers from the Public Budget Database in the Budget of the United ...

US GDP for 2025 Released
On March 15, 2026 usgovernmentspending.com updated its GDP series with the latest data from the Bureau of Economic Analysis ...

> blog

Budget News

President’s FY 2025 Budget Release Scheduled for March 11
Although the FY 2024 appropriations process is not yet resolved

Biden to Release Budget March 9
will press McCarthy On Default Risk - Bloomberg

Biden to Release 2023 Budget Request on March 28
how the administration expects to spend money for priorities including aid to Ukraine and the continuing effort to fight the coronavirus pandemic, as well as legislative proposals such as increased funding for community policing programs, cancer research, and mental health education.

> archive

Spend Links

us numbers • us budget • custom chart • deficit/gdp • spend/gdp • debt/gdp • us gdp • us real gdp • state gdp • breakdown • federal • state • local • 2024 • 2025 • 2026 • california • texas

Masthead

usgovernmentspending.com was designed and executed by:

Christopher Chantrill.

Email here.

presented by Christopher Chantrill

Data Sources  •   •  Contact

closed