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US primary budget deficit reaches 3.59% of GDP, largest among advanced economies

The deficit excludes more than $1.1 trillion in interest payments on existing government debt; the UK follows at 3.51%.

Summary

The US government is running a primary budget deficit equivalent to -3.59% of GDP, the largest among major advanced economies. The measure excludes more than $1.1 trillion in interest payments on existing government debt. The UK follows with a primary budget deficit of -3.51%.

Terms & Concepts
  • Primary budget deficit: Fiscal shortfall excluding interest payments on government debt
  • GDP: Total value of goods and services produced in an economy