(AP Photo)
In fiscal 2013, which ended Sept. 30, the deficit was $680.276 billion, according to the Monthly Treasury Statement released Wednesday.
In fiscal 2012, the deficit was $1.089193 trillion; in fiscal 2011, it was $1.296791 trillion; in fiscal 2010, it was $1.294204 trillion; and, in fiscal 2009, it was $1.415724 trillion.
In fiscal 2008, the last full year that George W. Bush was president, the deficit was $454.798 billion.
Even when adjusted for inflation, the $680.276 billion fiscal 2013 deficit is only exceeded by one pre-Obama deficit--the one the U.S. government ran in 1943, during the height of World War II. That year, the deficit was $54,554,000,000--or $738,367,890,000 in inflation-adjusted 2013 dollars.
The 2013 deficit of $680.276 billion exceeded the other annual deficits of the World War II era as well as the annual deficits that the U.S. government ran during World War I, the Vietnam War, or the final years of the Cold War.
In fiscal 1919, which began on July 1, 1918, the U.S. government ran its greatest deficit of the World War I era, according to data published by the Office of Management and Budget. It was $13.363 billion in 1919 dollars, or $180.863 billion in 2013 dollars, according to the Bureau of Labor Statistics inflation calculator.
In 1968, the U.S. ran it greatest annual deficit of the Vietnam era. It was $25.161 billion in 1968 dollars, or $169.294 billion in 2013 dollars.
In 1986, three years before the Berlin Wall came down, the U.S. ran its largest deficit in the final years of the Cold War. It was $221.227 billion in 1986 dollars, or $472.628 billion in 2013 dollars.
Since 1976, the U.S. government’s fiscal year has run from Oct. 1 to Sept. 30. Before that, it ran from July 1 to June 30.
President Barack Obama was elected on Nov. 4, 2008, a little over a month after the beginning of fiscal 2009. He was inaugurated on Jan. 20, 2009, almost four months into fiscal 2009. On Feb. 17, 2009, less than a month into his first term, and less than five full months into fiscal 2009, he signed the American Recovery and Reinvestment Act—an “economic stimulus” law that the Congressional Budget Office has estimated would increase the deficit by $833 billion over ten years.
HISTORICAL BUDGET DEFICITS:
Year...........Deficit
2013 680,276,000,000
2012 1,089,193,000,000
2011 1,296,791,000,000
2010 1,294,204,000,000
2009 1,415,724,000,000
2008 454,798,000,000
2007 161,527,000,000
2006 248,197,000,000
2005 318,746,000,000
2004 412,845,000,000
2003 377,139,000,000
2002 157,791,000,000
2001 (127,276,000,000) [surplus]
2000 (236,917,000,000) [surplus]
1999 (124,360,000,000) [surplus]
1998 (69,242,000,000) [surplus]
1997 21,957,000,000
1996 107,431,000,000
1995 163,952,000,000
1994 203,186,000,000
1993 255,051,000,000
1992 290,321,000,000
1991 269,238,000,000
1990 221,036,000,000
1989 152,639,000,000
1988 155,178,000,000
1987 149,730,000,000
1986 221,227,000,000
1985 212,308,000,000
1984 185,367,000,000
1983 207,802,000,000
1982 127,977,000,000
1981 78,968,000,000
1980 73,830,000,000
Vietnam Era
........................Current Dollars..............2013 Dollars
1968 25,161,000,000 169,294,000,000
World War II Era
.......................Current Dollars...............2013 Dollars
1946 15,936,000,000 191,353,770,000
1945 47,553,000,000 618,582,630,000
1944 47,557,000,000 632,694,550,000
1943 54,554,000,000 738,367,890,000
1942 20,503,000,000 294,524,970,000
1941 4,941,000,000 78,702,740,000
World War I Era
........................Current Dollars...............2013 Dollars
1919 13,363,000,000...............180,863,180,000
The annual deficit numbers for 1997-2013 come from the Monthly Treasury Statements. the annual deficit numbers for 1919 through 1996 come from the Historical Tables of the Office of Management and Budget.
