2024 Us Budget Deficit Graph. The federal deficit in 2023 was $1.7 trillion, equal to 6.3 percent of. In cbo’s projections, deficits equal or exceed 5.5.

This was higher than the fy 2022 deficit ($1.45 trillion), but lower than the. Under the president’s budget, annual budget deficits would remain below the historically high levels seen over the past few years as covid relief continues to wind.