In 2019, the federal government spent $984 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 $4.4 trillion and collected $3.5 trillion in 2019, the government ran a deficit for the year.
How much is $984 billion in deficit spending? If you take the U.S. population estimate in 2019 of 329.7 million people (U.S. Census Bureau), $984 billion would be equivalent to a little less than $3,000 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.