timothy_lucas_jaeger t1_j1ylgna wrote on December 28, 2022 at 10:25 AM Reply to comment by Fraun_Pollen in New sanctions starting to bite Russia’s economy as Moscow admits deficit impact by Minezenroll I guess it depends what you mean by much much. U.S. budget deficit is historically less than 5% of GDP, though there have been recent spikes to 9.8% in 2009 after the Great Recession and over 15% in 2020 in reaction to the pandemic. 2022 saw 5.4% and current estimate for 2023 is 4.5%. Source: https://www.usgovernmentspending.com/federal_deficit_percent_gdp Permalink Parent 18
timothy_lucas_jaeger t1_j1ylgna wrote
Reply to comment by Fraun_Pollen in New sanctions starting to bite Russia’s economy as Moscow admits deficit impact by Minezenroll
I guess it depends what you mean by much much.
U.S. budget deficit is historically less than 5% of GDP, though there have been recent spikes to 9.8% in 2009 after the Great Recession and over 15% in 2020 in reaction to the pandemic. 2022 saw 5.4% and current estimate for 2023 is 4.5%.
Source: https://www.usgovernmentspending.com/federal_deficit_percent_gdp