US Politics: deficits, then and now

Self-tutoring about US politics: the tutor compares the year 2000 to 2024.

The US ran a federal government surplus of around 236M in 2000. The US trade deficit that same year was 3.7% of its GDP.

In 2024, the US federal government is thought to have run a deficit of 1.83T (about 6.3% of GDP). The US trade deficit that same year was 918.4B, or around 3.1% of GDP.

Of the two problems – government deficit or trade deficit – which one might seem more pressing for the US? On the other hand, which one are tariffs aimed at?

Source:

fred.stlouisfed.org

ustr.gov

fiscaldata.treasury.gov

bea.gov

worldpopulationreview.com