The US last recorded a surplus in 2001

US federal government budget deficit by fiscal year ending, $tn

$3tn

2

1

0

−1

04

08

12

16

20

2024

$3tn

2

1

0

−1

2002

04

06

08

10

12

14

16

18

20

22

2024

$3tn

2

1

0

−1

2002

2004

2006

2008

2010

2012

2014

2016

2018

2020

2022

2024

$3tn

2

1

0

−1

2002

2004

2006

2008

2010

2012

2014

2016

2018

2020

2022

2024

Guardian graphic. Source: US Treasury. Note: US fiscal year is from 1 Oct to 30 Sep of the following year