Except for World War II,the U.S.deficits from 2009 to 2012 were the largest deficits in the nation's history relative to GDP,even larger than during the Great Depression.

Question

Quizplus · Accepted Answer

This statement is true. The deficits from 2009 to 2012 were the largest in U.S. history relative to GDP, reaching a peak of 9.8% of GDP in 2009. This was higher than the deficits during the Great Depression, which peaked at 5.9% of GDP in 1934.