Federal Surplus or Deficit
Returns the U.S. federal government surplus (positive) or deficit (negative) in billions of dollars. This is calculated as receipts minus outlays.
Data Details
| Attribute | Value |
|---|---|
| Source | U.S. Treasury / FRED |
| Frequency | Monthly |
| Unit | Billions of USD |
| Interpretation | Positive = surplus, Negative = deficit |
Notes
- A negative value indicates a budget deficit (spending exceeds revenue)
- A positive value indicates a budget surplus (revenue exceeds spending)
- This equals
FederalReceipts()minusFederalOutlays()
Syntax
=FederalSurplusOrDeficit()Returns
number
Federal surplus (positive) or deficit (negative) in billions of dollars
Examples
Current surplus/deficit in billions
=FederalSurplusOrDeficit()/1000=ABS(FederalSurplusOrDeficit())=IF(FederalSurplusOrDeficit()<0,"Deficit","Surplus")When to Use
- Analyzing the federal budget balance
- Tracking deficit trends over time
- Economic research on fiscal policy
- Comparing government spending to revenue
When NOT to Use
| Scenario | Use Instead |
|---|---|
| Need just receipts | FederalReceipts() |
| Need just outlays | FederalOutlays() |
| Need national debt | FederalDebt() |
Common Issues & FAQ
What does a negative value mean?
A negative value indicates a budget deficit (spending exceeds revenue).
What does a positive value mean?
A positive value indicates a budget surplus (revenue exceeds spending).
What unit is the result in?
Billions of U.S. dollars.
Related Formulas
More MarketXLS Economic Data formulas you can use in the same worksheet:
- Gasoline Price
- Hires - Nonfarm
- House Price Index
- House Price Index - Shiller 20 City
- Housing Starts
- Industrial Production Index
- Inflation
- Initial Claims
See FederalSurplusOrDeficit used in a complete workbook: Junk Bond ETF Tracker Excel: June 2026 Credit Spread Recession Signal Dashboard
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