In 2018, the federal government spent $779 billion more than it collected, resulting in a deficit.
How did we end up with a deficit? A deficit occurs when the money going out exceeds the money coming in. Since the federal government spent $4.1 trillion and collected $3.3 trillion in 2018, the government ran a deficit for the year.
How much is $779 billion in deficit spending? If you take the U.S. population estimate in 2018 of 327.7 million people (U.S. Census Bureau), $779 billion would be equivalent to a little less than $2,400 in deficit spending for every individual in the U.S.
In this visualization, one dot represents $1 billion.
This visualization was created using the Monthly Treasury Statement (MTS) as the data source for federal government revenue, spending, and deficit and the Monthly Statement of the Public Debt (MSPD) as the data source of federal debt.