Under current law, the federal fiscal outlook beyond this year is daunting: Projected deficits average about $600 billion per year over the 2011-2020 period.

This deficit averaged $5 billion a month in 1989 and fell to around $3.5 billion the first five months of this year.

Over the past 40 years, deficits have averaged 2.3 percent of G.D.P.; last year they ran at 2.6 percent.

As a share of the economy, the Bush-era deficits have averaged 2.7 percent.

In that budget, the projected deficits averaged 14.4 percent of revenues from city sources.

Federal deficits averaged 3.4 percent of GDP in the 1980s and reached 4.7 percent in 1992.

The deficit rose from $79 billion in 1981 to $128 billion in 1982, and averaged over $200 billion from 1983 to 1986.

The remarks prompted James Sinclair, then * Between 193 1 and 1939 the federal government's daily deficit averaged $329,000.

The deficit had been averaging nearly $1.4 million a month, but it shrank to $495,000 in September, according to a report to the agency's directors.

Over the final four months of last year, for example, the deficit averaged $13.6 billion compared with $14.9 billion for May through August.