Us Deficit 2024 Total Revenue. In cbo’s projections, the total budget deficit—the amount by which outlays exceed revenues—equals 6.1 percent of gdp in 2034. In fiscal year 2024, which ended on september 30, the federal budget deficit totaled $1.8 trillion—an increase of $138 billion (or 8 percent) from the shortfall recorded in the previous.
Fy 2024 revenues are now projected to be $4.9 trillion, which is $538 billion or 12 percent higher than cbo expected when biden took office and represents an increase of $1.5. The estimated deficit for 2024 was $139 billion more than the shortfall recorded during fiscal year.