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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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2020财年美国预算赤字预计为1.1万亿美元
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8 s5 g9 W- c* }0 u4 \2 P$ cThe first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.
# ?7 C$ `5 F' Z/ |* ^ 第一列表示会计年度,其次是该年度的赤字(十亿)。其次是财政年度的债务增加,其次是赤字/ GDP。最后,列举了影响赤字的事件8 [/ w3 M' H1 f
3 r! V+ d+ [" WFiscal Year Deficit (in billions) Debt Deficit/GDP Events
: @# A- x) [; T) v0 I- O; l1929 ($1) ($1) (0.7%) Market crash
6 j: l' Z( Y4 u1 _- C1930 ($1) ($1) (0.8%) Smoot-Hawley1 b% ?, B# j7 Z( ?& }
1931 $0 $1 0.6% Dust Bowl8 A! H$ [# n" E' S. X( y; D7 Y
1932 $3 $3 4.5% Hoover tax hike
1 |, V! W3 r! W% x" O7 ]+ Y1933 $3 $3 4.5% FDR New Deal
! d* ?7 l0 g# f3 Y* F# Y, I# v1934 $4 $5 5.4% GDP up 10.8%, debt also rose* I8 H& X( O( a! a/ y
1935 $3 $2 3.8% Social Security
/ B; T: P# Q: H& [1936 $4 $5 5.1% Tax hikes* E3 S) M/ t$ ]4 |* I
1937 $2 $3 2.4% Depression returned, third New Deal- W, k! G7 `$ Y3 v' _
1938 $0 $1 0.1% Dust Bowl ended- H4 U: D2 o, h% Q* X
1939 $3 $3 3.0% Depression ended
8 t7 C4 }( Y& {# G1940 $3 $3 2.8% Defense increased; O& j' u% F& {: j" [
1941 $5 $6 3.8% Pearl Harbor
2 {- E6 @$ B& X7 e& @. Q1942 $21 $23 12.3% Battle of Midway' f' S' J. ?% U" f0 A
1943 $55 $64 26.9% Defense tripled
) m$ _( v" q9 \ p2 F1944 $48 $64 21.2% Bretton Woods
) K+ b: N @* d2 ` u1945 $48 $58 20.0% WWII ended
, u/ d% R" o% k2 H1946 $16 $11 7.0% Recession' ^; j' C8 ?7 H
1947 ($4) ($11) (1.6%) Cold War
1 d/ u# c) m8 T6 m6 [& A. X1948 ($12) ($6) (4.2%) Recession
& v, ?& p! C; S I* e% V1949 ($1) $0 (0.2%) Recession
3 ], D( C' R7 O; E1950 $3 $5 1.0% Korean War
% B6 l- P3 x5 |* q1951 ($6) ($2) (1.7%) Expansion1 J1 j% o6 \! I9 z) [( }" [6 N
1952 $2 $4 0.4% Expansion E6 c+ D! ~. ~6 |! a2 J4 A- m/ p
1953 $6 $7 1.7% Korean War ended, recession3 P& B1 Y# u t- n, F% L2 z( O( F# E
1954 $1 $5 0.3% Recession, Eisenhower budgets
; e( t8 E, T7 g% g# O1955 $3 $3 0.7% Expansion0 x, p: ~8 f6 ^: Q ^
1956 ($4) ($2) (0.9%) Expansion5 a" ~+ r8 c( d( s
1957 ($3) ($2) (0.7%) Recession3 I7 H, k0 m; s. d' g5 u/ X! }
1958 $3 $6 0.6% Recession ended& [5 Y' K" K7 l2 j) J
1959 $13 $8 2.4% Fed raised rates
5 \) y; F" R9 t& C" u1960 $0 $2 (0.1%) Recession, e% T3 y( R4 w" L9 t6 M. @
1961 $3 $3 0.6% JFK & Bay of Pigs( Z5 T4 @ {0 y) O
1962 $7 $10 1.2% Cuban Missile Crisis
- N B2 p& Y+ J ^& l6 H0 C1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
" `5 y- [3 F6 V& v, u" W# t% E" R" D1964 $6 $6 0.9% LBJ War on Poverty+ Y: r* `+ n' H$ Q/ e+ d. H# N
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War0 |& P, f5 ?3 u
1966 $4 $3 0.5%
7 s5 h2 H3 w( m% I! }1967 $9 $6 1.0% Expansion
$ ~3 A) Q8 |& d' B) \% P L3 V1968 $25 $21 2.6% Moon landing8 ?# O) B [3 L
1969 ($3) $6 (0.3%) Nixon took office
) h7 c2 l& e2 W- A5 a8 T1970 $3 $17 0.3% Recession ~" [- B# r, b& g3 X
1971 $23 $27 2.0% Wage-price controls# b) ?" b V" J# v! d% g I! Z
1972 $23 $29 1.8% Stagflation
1 G' z/ D% D+ Q1973 $15 $31 1.0% End of gold standard; z" L% h3 O. O% W, ~: Q7 ~
1974 $6 $17 0.4% Budget process created, Watergate
0 j1 [; ` D2 e1975 $53 $58 3.1% Ford budget, Vietnam War ended8 X: g6 ]7 O; E2 d1 F+ |
1976 $74 $87 3.9% Stagflation, t5 d' k6 P1 {$ n
1977 $54 $78 2.5% Stagflation
3 n" }- w, D* S7 N1978 $59 $73 2.5% Carter budget, Recession
) P3 _ }8 K9 y1979 $41 $55 1.5% Recession
$ g0 ~& d- w' G$ p& j0 Q1980 $74 $81 2.6% Volcker raised rates to 20%4 J3 }8 _+ X3 F. L; C' x
1981 $79 $90 2.4% Reagan tax cut0 U. ?1 {/ \/ I/ c5 c$ d' `
1982 $128 $144 3.8% Reagan increased spending1 G, ^8 q% r) J7 a
1983 $208 $235 5.6% Jobless rate was 10.8%
; F G$ V, @: o& R; i1984 $185 $195 4.5% Increased defense spending5 }* l1 W( N- K8 o" o8 ]
1985 $212 $256 4.8% Increased defense spending
4 M; p- j6 _* a m# q. k1986 $221 $297 4.8% Tax cut
) G+ @; P; Q* m# ^7 y1987 $150 $225 3.1% Market crash
( z7 B. L; M. U$ d2 p+ X3 c1988 $155 $252 2.9% Fed raised rates
1 J. w2 E& c4 F5 g3 o1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
3 K3 y1 R# M4 Q0 ?$ R1990 $221 $376 3.7% Desert Storm
0 M9 S2 l& I k* ~1 ^, ^5 X1991 $269 $432 4.3% Recession; O* S6 m- K2 c {# w6 Z8 m4 G+ j
1992 $290 $399 4.4% Expansion
7 R* s" Y. N/ |# i1993 $255 $347 3.7% Clinton signed Budget Act% J+ f. p4 x# N+ B
1994 $203 $281 2.8% Clinton budget2 j3 ]4 u9 @, W0 m' B6 i
1995 $164 $281 2.1% Expansion
: n- _4 `! b& [1996 $107 $251 1.3% Welfare reform) w2 a+ d8 f; W7 O5 a- _, x1 A6 r
1997 $22 $188 0.3% Expansion
t$ v) W; U5 Q2 y1998 ($69) $113 (0.8%) LTCM crisis, recession, B4 Z4 Q7 ?3 w' f# _0 f
1999 ($126) $130 (1.3%) Glass-Steagall repealed( q- v0 M: L- a( o# R
2000 ($236) $18 (2.3%) Surplus+ o# P; u; D1 ?/ c
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
9 W4 c) ` k% w/ k9 @" v2002 $158 $421 1.4% War on Terror/ [: \- V( B- O0 L# t0 c2 V
2003 $378 $555 3.3% JGTRRA
8 u# |' `* o( O" |' ]2004 $413 $596 3.4% Iraq War7 L/ b" R; C) [' |* U P" K
2005 $318 $554 2.4% Katrina, Bankruptcy Act
5 Z# i. z0 n2 r( v# M3 ~2006 $248 $578 1.8% Bernanke chairs Fed$ ]9 p' U7 Y/ H, b6 L9 s
2007 $161 $501 1.1% Bank crisis* r; _' V% n! c8 X$ j+ J
2008 $459 $1,017 3.1% Bank bailout, QE8 ~( W) J% v7 Y+ d" e& c
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
4 X. l& H' P: a, F9 U3 v C2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
" `5 F+ P% e1 Q$ m+ ]6 u; [; o2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
0 U( @* p$ T2 X |2012 $1,087 $1,276 6.7% Fiscal cliff t$ ]7 G# y* T6 t0 _. }3 e+ m
2013 $679 $672 4.0% Sequester, government shutdown9 O! C, ?4 ?- n3 s2 w, x
2014 $485 $1,086 2.7% Debt ceiling
8 h0 n) m( O- r' J" z, d2015 $438 $327 2.4% Defense = $736.4B
: B5 J2 Q, z9 U; O; d6 [, o2016 $585 $1,423 3.1% Defense = $767.6B
* t% y1 i4 T2 k6 w) L2017 $665 $672 3.4% Defense = $817.9B
: Q- C# B5 h8 S. w1 s2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts5 ]2 k0 V; W/ D6 b1 l* Z6 b) ^
2019 $1,091 $1,314 NA Defense = $956.5B
f, J) h( z" V( g4 }2020 $1,101 $1,281 NA Defense = $989B/ k# U8 m6 M! C m+ y+ U
2021 $1,068 $1,276 NA NA
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