In many ways, 2020 and 2021 have been outliers for the federal budget due to the enormous amount of economic stimulus paid to companies and invididuals.

The White house estimates that in 2022, federal expenditures will total $5.7 Trillion, and receipts will total $4 Trillion. Leaving a deficit of $1.7 Trillion for 2022. As the country's economic recovery continues, the deficit is projected to decrease to a mere $1 Trillion by 2024.

While economists and politicians disagree widely on when and why the government should finance itself with debt, everyone agrees that a government cannot remain financially stable while continuing to run deficits indefinitely.