Federal Surplus or Deficit -1.775T for
Federal Surplus or Deficit came in at -1.775T for 2025, up 2.24% from -1.815T the prior year and 2.24% above its level of -1.815T one year ago. The series has averaged -220B since 1901, reaching a record high of 236B in September 2000 and a record low of -3.096T in September 2020.
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<iframe src="https://marketxls.com/embed/indicators/federal-deficit" width="100%" height="460" frameborder="0" title="Federal Surplus or Deficit chart"></iframe><p style="font:12px/1.4 sans-serif;margin:4px 0 0"><a href="https://marketxls.com/indicators/federal-deficit" rel="nofollow">Federal Surplus or Deficit chart - MarketXLS</a></p>Historical Data
⋮ | ⋮ |
|---|---|
| September 30, 2025 | -1.775T |
| September 30, 2024 | -1.815T |
| September 30, 2023 | -1.687T |
| September 30, 2022 | -1.374T |
| September 30, 2021 | -2.774T |
| September 30, 2020 | -3.096T |
| September 30, 2019 | -984B |
| September 30, 2018 | -779B |
| September 30, 2017 | -665B |
| September 30, 2016 | -585B |
| September 30, 2015 | -442B |
| September 30, 2014 | -485B |
| September 30, 2013 | -680B |
| September 30, 2012 | -1.077T |
| September 30, 2011 | -1.3T |
| September 30, 2010 | -1.294T |
| September 30, 2009 | -1.413T |
| September 30, 2008 | -459B |
| September 30, 2007 | -161B |
| September 30, 2006 | -248B |
⋮ | ⋮ |
|---|---|
| June 30, 1963 | -4.756B |
| June 30, 1962 | -7.146B |
| June 30, 1961 | -3.335B |
| June 30, 1960 | 301M |
| June 30, 1959 | -12.8B |
| June 30, 1958 | -2.769B |
| June 30, 1957 | 3.412B |
| June 30, 1956 | 3.947B |
| June 30, 1955 | -2.993B |
| June 30, 1954 | -1.154B |
| June 30, 1953 | -6.493B |
| June 30, 1952 | -1.519B |
| June 30, 1951 | 6.102B |
| June 30, 1950 | -3.119B |
| June 30, 1949 | 580M |
| June 30, 1948 | 11.8B |
| June 30, 1947 | 4.018B |
| June 30, 1946 | -15.9B |
| June 30, 1945 | -47.6B |
| June 30, 1944 | -47.6B |
About Federal Surplus or Deficit
What it measures
The Federal Surplus or Deficit (FRED series FYFSD) measures the annual difference between federal receipts and outlays for each fiscal year. A negative value indicates a deficit, which has been the norm for most of modern US history. The data come from Treasury and Office of Management and Budget accounting.
Why it matters
The deficit determines federal borrowing needs, driving Treasury issuance and influencing interest rates and debt trajectory. Its cyclical component reveals fiscal stimulus or drag on the economy, while its structural component signals long-run sustainability questions. Large deficits during expansions leave less fiscal room to respond when recessions arrive.
How to read it
Scale the deficit by GDP to compare across eras; the dollar figure alone is misleading over long horizons. Deficits naturally widen in recessions as revenues fall and safety-net spending rises, so a widening deficit is not automatically a policy choice. Persistent large deficits at full employment indicate structural imbalance between commitments and revenue.
Get Federal Surplus or Deficit in Excel
Pull Federal Surplus or Deficit directly into your spreadsheet with a single MarketXLS formula - always current, no copy-pasting:
=FederalSurplusOrDeficit()View the Federal Surplus or Deficit formula documentation or browse all 100+ Economic Data functions.
Frequently Asked Questions
What is the current Federal Surplus or Deficit?
Federal Surplus or Deficit is -1.775T as of September 2025.
What is the all-time high and low of Federal Surplus or Deficit?
The highest value on record is 236B (September 2000) and the lowest is -3.096T (September 2020).
How often is Federal Surplus or Deficit updated?
Federal Surplus or Deficit is published on a annual basis, sourced from Federal Reserve Economic Data (FRED).
How do I get Federal Surplus or Deficit in Excel?
Use the MarketXLS Excel formula =FederalSurplusOrDeficit() to pull Federal Surplus or Deficit directly into any cell, with historical values available for analysis.
Stats
| Last Value | -1.775T |
| Latest Period | 2025 |
| Last Updated | April 3 2026, 12:02 |
| Value Previous Year | -1.815T |
| Change From Previous Year | 2.24% |
| Value 1 Year Ago | -1.815T |
| Change From Year Ago | 2.24% |
| Record High (Sep 2000) | 236B |
| Record Low (Sep 2020) | -3.096T |
| Long-Term Average | -220B |
| Frequency | Annual |
| Adjustment | Not Seasonally Adjusted |
| Unit | Millions of Dollars |
Annual Averages
| 2025 | -1.775T |
| 2024 | -1.815T |
| 2023 | -1.687T |
| 2022 | -1.374T |
| 2021 | -2.774T |
| 2020 | -3.096T |
| 2019 | -984B |
| 2018 | -779B |
| 2017 | -665B |
| 2016 | -585B |
| 2015 | -442B |
| 2014 | -485B |
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