Figure D
Some measures show historically high degrees of 'fiscal space': Federal debt service as a share of gross domestic product (GDP)
| Year | Debt service as % of GDP |
|---|---|
| 1940 | 0.87367% |
| 1941 | 0.72926 |
| 1942 | 0.63392 |
| 1943 | 0.75289 |
| 1944 | 0.98865 |
| 1945 | 1.36487 |
| 1946 | 1.80676 |
| 1947 | 1.68419 |
| 1948 | 1.58161 |
| 1949 | 1.65997 |
| 1950 | 1.60493 |
| 1951 | 1.34471 |
| 1952 | 1.27974 |
| 1953 | 1.32471 |
| 1954 | 1.23186 |
| 1955 | 1.13989 |
| 1956 | 1.13029 |
| 1957 | 1.12944 |
| 1958 | 1.16452 |
| 1959 | 1.10456 |
| 1960 | 1.28083 |
| 1961 | 1.19457 |
| 1962 | 1.14071 |
| 1963 | 1.21421 |
| 1964 | 1.19788 |
| 1965 | 1.15737 |
| 1966 | 1.15390 |
| 1967 | 1.19401 |
| 1968 | 1.17897 |
| 1969 | 1.24792 |
| 1970 | 1.33979 |
| 1971 | 1.27407 |
| 1972 | 1.21006 |
| 1973 | 1.21715 |
| 1974 | 1.38807 |
| 1975 | 1.37954 |
| 1976 | 1.42665 |
| 1977 | 1.43629 |
| 1978 | 1.50783 |
| 1979 | 1.62267 |
| 1980 | 1.83855 |
| 1981 | 2.14422 |
| 1982 | 2.54298 |
| 1983 | 2.47130 |
| 1984 | 2.75168 |
| 1985 | 2.98407 |
| 1986 | 2.97004 |
| 1987 | 2.85489 |
| 1988 | 2.89897 |
| 1989 | 2.99528 |
| 1990 | 3.09144 |
| 1991 | 3.15758 |
| 1992 | 3.05727 |
| 1993 | 2.89730 |
| 1994 | 2.78476 |
| 1995 | 3.03850 |
| 1996 | 2.98587 |
| 1997 | 2.84445 |
| 1998 | 2.66052 |
| 1999 | 2.38566 |
| 2000 | 2.17461 |
| 2001 | 1.94831 |
| 2002 | 1.56312 |
| 2003 | 1.33592 |
| 2004 | 1.31201 |
| 2005 | 1.41130 |
| 2006 | 1.64031 |
| 2007 | 1.64068 |
| 2008 | 1.71793 |
| 2009 | 1.29354 |
| 2010 | 1.30865 |
| 2011 | 1.47956 |
| 2012 | 1.36079 |
| 2013 | 1.31598 |
| 2014 | 1.30670 |
| 2015 | 1.22497 |
| 2016 | 1.28311 |
| 2017 | 1.34742 |
| 2018 | 1.58519 |
Note: Federal debt service refers to interest paid on federal debts. Here it is shown as a percent of GDP.
Source: Office of Management and Budget, “Table 1.3—Summary of Receipts, Outlays, and Surpluses or Deficits (-) in Current Dollars, Constant (FY 2012) Dollars, and as Percentages of GDP: 1940–2024,” in Historical Tables, accessed March 2019
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