Question: what is the federal government deficit?
Answer: For fiscal year 2019, which ended September 30, 2019, total revenues were $3.5 trillion (up 4% from the previous year) and total spending was $4.4 trillion (up 8% from the previous year). The resulting deficit was $984 billion (4.6% of gross domestic product) compared to $779 billion (3.8% of GDP) in the previous year.