Deficit gap slowly closing
President Obama presented his budget Tuesday, proposing a $600 billion injection to boost economic growth along with initiatives to tame the national debt. While many economists would agree that a deficit of around 3 percent of GDP is ideal, deficits in recent years have been much higher.
Here's a look at historic spending and revenue as a percentage of GDP. Read related article.
Obama's budget proposal projects that the deficit will be 3.7 percent of GDP in 2014, a five-year low.
NOTE: Figures may not add up to total due to rounding. SOURCE: Office of Management and Budget.