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This is the first time since the early 1980s that the fiscal deficit has expanded for four consecutive years. These figures reflect the second full budget year of the government under President trump. At present, the U.S. tax base is expanding, economic growth is strong, and the unemployment rate is close to the lowest level in 50 years.
The U.S. budget deficit expanded to $984 billion in fiscal 2019, equivalent to 4.6% of GDP. The deficit in the previous fiscal year was $779 billion, with a deficit / GDP ratio of 3.8%. Total revenue increased by 4% to $3.5 trillion in fy2019, while expenditure increased by 8.2% to $4.4 trillion.
"Thanks to this administration's policies to promote growth, all sectors of the United States are thriving again," Russ Vought, acting director of the White House budget administration, said in a statement released along with the data.
In 2009, the deficit peaked at $1.4 trillion as the Obama administration and Congress took urgent measures to support the U.S. banking system during the global financial crisis and to stimulate the economy in recession.
By the end of Barack Obama's second term in 2016, the annual budget deficit had fallen to $585 billion. In the meantime, Republicans in Congress criticized Democrat Barack Obama for not cutting the deficit further.
Since then, the budget deficit has increased significantly, in part because of the radical reform of the tax system by the Republican Party, which has slashed corporate income tax revenues and increased military spending in the short term. By the end of fy19f, corporate tax increased by 5%. Affected by the trump administration's trade war with China and other countries, tariffs increased by 70% year on year.

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