Shown below are figures for the federal deficit and the nominal GDP. With the exception of the last period, all of the figures are for December of the particular year. The last column shows the federal deficit as a percentage of the nominal GDP. The indexes use 1970 as a base year. From our initial class discussion, make the following comparisons.
| YEAR | DEFICIT | GDP | INDEX 1 | INDEX 2 | PERCENT |
|---|---|---|---|---|---|
| 1970 | -22.0 | 1,052.30 | 100.00 | 100.00 | .021 |
| 1971 | -24.8 | 1,150.90 | 112.73 | 109.37 | .022 |
| 1972 | -28.6 | 1,287.90 | 130.00 | 122.39 | .022 |
| 1973 | -7.4 | 1,435.30 | 33.64 | 136.40 | .005 |
| 1974 | -30.1 | 1,549.70 | 136.82 | 147.27 | .019 |
| 1975 | -69.4 | 1,709.10 | 315.45 | 162.42 | .041 |
| 1976 | -59.7 | 1,880.80 | 271.36 | 178.73 | .032 |
| 1977 | -50.2 | 2,101.20 | 228.18 | 199.68 | .024 |
| 1978 | -20.3 | 2,411.70 | 92.27 | 229.18 | .008 |
| 1979 | -29.6 | 2,650.10 | 134.55 | 251.84 | .011 |
| 1980 | -68.1 | 2,911.60 | 309.55 | 276.69 | .023 |
| 1981 | -84.1 | 3,183.90 | 382.27 | 302.57 | .026 |
| 1982 | -178.0 | 3,295.50 | 809.09 | 313.17 | .054 |
| 1983 | -170.1 | 3,665.40 | 773.18 | 348.32 | .046 |
| 1984 | -167.6 | 3,994.40 | 761.82 | 379.59 | .042 |
| 1985 | -171.7 | 4,285.10 | 780.45 | 407.21 | .040 |
| 1986 | -156.5 | 4,501.40 | 711.36 | 427.77 | .035 |
| 1987 | -124.3 | 4,836.20 | 565.00 | 459.58 | .026 |
| 1988 | -113.2 | 5,204.90 | 514.55 | 494.62 | .022 |
| 1989 | -136.5 | 5,537.90 | 620.45 | 526.27 | .025 |
| 1990 | -177.7 | 5,781.50 | 807.73 | 549.42 | .031 |
| 1991 | -238.8 | 6,002.30 | 1,085.45 | 570.40 | .040 |
| 1992 | -279.0 | 6,383.00 | 1,268.18 | 606.58 | .044 |
| 1993 | -233.3 | 6,688.60 | 1,060.45 | 635.62 | .035 |
| 1994 | -190.1 | 7,083.20 | 864.09 | 673.12 | .027 |
| 1995 | -154.5 | 7,350.60 | 702.27 | 698.53 | .021 |
| 1996 | -131.0 | 7,547.60 | 595.45 | 717.25 | .017 |