Government and Private Sector GDP Components from 1929 to 1950

Notice that a wartime government GDP component increased sharply from 1942 to 1945 resulting in a greater GDP growth. However, the living standards in the US during WW2 declined inspite of higer GDP numbers. Prosperity returned only after war ended and government spending collapsed allowing the private sector component to nearly doubled a single year, 1946. Even as the government spending decreased, leading to a contraction in a GDP growth, the post-war years were more prosperous than the war and pre-war era. 

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Federal Debt And Budget

FEDERAL DEBT 1940 – 2016 (PDF)   (XLS)

SURPLUSES OR DEFICITS (–): 1789–2020 (PDF)   (XLS)

Provides data on budget receipts, outlays, surpluses or deficits, Federal debt, and Federal employment over an extended time period, generally from 1940 or earlier to 2016 or 2020. To the extent feasible, the data have been adjusted to provide consistency with the 2016 Budget and to provide comparability over time.