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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# j% |7 Z1 x- R) c
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The 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.
9 B% Q0 r9 i7 q! R1 X 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
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Fiscal Year Deficit (in billions) Debt Deficit/GDP Events
7 b3 V. b J6 G! D1929 ($1) ($1) (0.7%) Market crash* Z; v" Y2 ]0 S7 v7 s
1930 ($1) ($1) (0.8%) Smoot-Hawley0 u, X% T! k* L2 H
1931 $0 $1 0.6% Dust Bowl2 a. X& v6 y$ O* R) v
1932 $3 $3 4.5% Hoover tax hike- ?' ]% w: }/ p) ~+ j9 u2 H
1933 $3 $3 4.5% FDR New Deal
* O. O3 _3 t2 `: S6 @( S1934 $4 $5 5.4% GDP up 10.8%, debt also rose' R" t& u4 r$ D$ n3 k2 ?4 o2 K1 y
1935 $3 $2 3.8% Social Security% A) G$ f: y; |' J
1936 $4 $5 5.1% Tax hikes
: u: u, U2 [4 u3 Y# U/ }( l" T. ]1937 $2 $3 2.4% Depression returned, third New Deal$ `" z0 T+ r8 l b5 W& ~6 s8 {1 ~
1938 $0 $1 0.1% Dust Bowl ended5 z/ `) B2 o2 g6 c w, E8 P- j
1939 $3 $3 3.0% Depression ended
, x) Z8 [+ i7 v1940 $3 $3 2.8% Defense increased; _+ S) s% l" A8 t
1941 $5 $6 3.8% Pearl Harbor
7 H8 B G3 C0 U! a1942 $21 $23 12.3% Battle of Midway
, j6 \: j L! N8 @4 @' X$ S$ n1943 $55 $64 26.9% Defense tripled. c" u7 s6 P9 t( t
1944 $48 $64 21.2% Bretton Woods
/ }, i6 c# q( H: Q8 H9 b5 d1945 $48 $58 20.0% WWII ended4 l/ {3 B; F4 k. I
1946 $16 $11 7.0% Recession
0 v r8 e! q# t' n2 M, _* D1947 ($4) ($11) (1.6%) Cold War0 h$ N; m) H. }# f: ]- n
1948 ($12) ($6) (4.2%) Recession
5 ?9 @+ k7 t5 o x' j* ^1949 ($1) $0 (0.2%) Recession8 z v8 L5 @( w# [* Z d% b
1950 $3 $5 1.0% Korean War) G2 w! H/ b7 S! y6 c
1951 ($6) ($2) (1.7%) Expansion
. \/ c% w' t/ s7 {) |: ]- d1952 $2 $4 0.4% Expansion& C" J" Z O$ W# H: M1 E
1953 $6 $7 1.7% Korean War ended, recession* o/ l- Y; }# o" P
1954 $1 $5 0.3% Recession, Eisenhower budgets1 X/ w5 a' I! D* N0 z
1955 $3 $3 0.7% Expansion
1 {8 f, @9 E, Q- h1956 ($4) ($2) (0.9%) Expansion
i5 x0 }, r% R: k% c( e1957 ($3) ($2) (0.7%) Recession1 v" y0 Y3 U$ h h' X: z# Q0 Q3 m
1958 $3 $6 0.6% Recession ended& w( T- T1 {- `6 n3 M# N4 {
1959 $13 $8 2.4% Fed raised rates3 ~) |; K+ l+ H0 M' S+ S
1960 $0 $2 (0.1%) Recession, F) N `0 h9 k2 U7 v U0 ]
1961 $3 $3 0.6% JFK & Bay of Pigs
; w' c1 ~) @0 ~) ?6 @; e1962 $7 $10 1.2% Cuban Missile Crisis
5 U) G/ ?! h7 F; j% T1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed4 Z2 I. V8 o r' I2 `' M
1964 $6 $6 0.9% LBJ War on Poverty
4 y5 V* u/ z% ? A! c% ^' k8 \ L1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War9 V: A$ G# }5 F3 @, q! c
1966 $4 $3 0.5%
; C4 p- E6 M2 u* Z5 Z# F! l1967 $9 $6 1.0% Expansion
$ i: ~5 W1 n/ Z/ I1968 $25 $21 2.6% Moon landing
; {# y0 f2 l. E9 T* B, o1969 ($3) $6 (0.3%) Nixon took office9 l1 G5 a7 e: f- D8 Q, q
1970 $3 $17 0.3% Recession
3 f: v2 B) M% Z- i# V+ e1971 $23 $27 2.0% Wage-price controls
: O9 Z" L" |" C4 x( \& \1972 $23 $29 1.8% Stagflation
1 k9 L9 n9 o) t I& ]- N0 L( Y, @. W1973 $15 $31 1.0% End of gold standard
, }* q6 Q- Q* r. @/ p9 Z* c1974 $6 $17 0.4% Budget process created, Watergate+ t, r6 \6 T* A: c6 K9 z: N. ~
1975 $53 $58 3.1% Ford budget, Vietnam War ended
2 J! \/ M6 E% f7 X- Z E% Y( j1976 $74 $87 3.9% Stagflation
, c4 Z: g: f. E+ k* K- z. q1977 $54 $78 2.5% Stagflation% c) ]& C1 [' Q7 E- L8 K6 v+ x
1978 $59 $73 2.5% Carter budget, Recession
% f* ~3 g$ Z" H0 U" t+ e) \% w1979 $41 $55 1.5% Recession
& f" i" _" i' G- [) O7 Q% @1980 $74 $81 2.6% Volcker raised rates to 20%. E: V6 i' {" C0 M8 E
1981 $79 $90 2.4% Reagan tax cut
/ y7 e9 T/ \5 B1 S) N! h+ h1982 $128 $144 3.8% Reagan increased spending* v" u$ q, d' i! _; H4 x1 x: ?3 l
1983 $208 $235 5.6% Jobless rate was 10.8%
, n( S) R* F% C/ b5 b* w1984 $185 $195 4.5% Increased defense spending! [0 J0 G9 t% T; x b
1985 $212 $256 4.8% Increased defense spending! l% h6 }, I% Y3 d2 r
1986 $221 $297 4.8% Tax cut
. r/ G& P4 b" T2 s1987 $150 $225 3.1% Market crash3 @7 O) J5 _1 q/ O2 y' j
1988 $155 $252 2.9% Fed raised rates
' h: A$ \! m- s1 J) A9 g6 e5 U: A1989 $153 $255 2.7% S&L Crisis, Bush 41 budget# U6 J5 M2 K7 j
1990 $221 $376 3.7% Desert Storm
1 J" q% k$ Q2 `) ^5 W7 Y1 r1991 $269 $432 4.3% Recession
8 B( @2 [: t3 H. ~) f1992 $290 $399 4.4% Expansion
% V) @( H3 U% k! Z% l. g1993 $255 $347 3.7% Clinton signed Budget Act( A& Q3 C% ]( |& i2 y. M# N0 s
1994 $203 $281 2.8% Clinton budget
, B n$ F6 W2 P% ^& M8 z0 z. b# l$ n1995 $164 $281 2.1% Expansion
( @& ^# @; _0 L7 ]: y% N" Q+ P, E/ T1996 $107 $251 1.3% Welfare reform+ `0 k- v* k, g# ~0 J
1997 $22 $188 0.3% Expansion
% r D2 q6 ^8 y0 q+ ^/ ^( U+ a1998 ($69) $113 (0.8%) LTCM crisis, recession/ m2 ~0 h4 V( H2 ]
1999 ($126) $130 (1.3%) Glass-Steagall repealed4 P/ _4 P9 T1 `; t/ I; S
2000 ($236) $18 (2.3%) Surplus
7 W: D! C! Q% ~( w$ K8 E$ ?0 X3 i2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA2 P8 a3 L) @* l, O0 q+ y
2002 $158 $421 1.4% War on Terror
2 f; D: J$ t# V$ _2003 $378 $555 3.3% JGTRRA9 R; x) w2 B/ u6 U3 [% u, o
2004 $413 $596 3.4% Iraq War% v* Q! z# t( U2 y- W' ` [
2005 $318 $554 2.4% Katrina, Bankruptcy Act
/ \1 g% p/ _7 E0 y2006 $248 $578 1.8% Bernanke chairs Fed3 V! L; f9 [( V# a
2007 $161 $501 1.1% Bank crisis
! z" E# V+ X5 |5 s& ~2008 $459 $1,017 3.1% Bank bailout, QE4 u% Q6 y0 R# d$ Q! L
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B: |! u+ Y h' N2 Q0 ?% \, u2 z
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
; i6 R7 W% z& b: \2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue4 `4 N, Q7 g* o2 U
2012 $1,087 $1,276 6.7% Fiscal cliff
0 ]7 n- h3 _. c8 T* c5 B: x* h( _2013 $679 $672 4.0% Sequester, government shutdown; i7 n5 A7 c( e" z& P' r% S0 M2 Q' y
2014 $485 $1,086 2.7% Debt ceiling1 S6 `+ e) [% k2 [1 [$ I" \5 u
2015 $438 $327 2.4% Defense = $736.4B
/ n& }8 ?4 S* Y$ i7 Q! c, H2016 $585 $1,423 3.1% Defense = $767.6B& D# D3 M; S) j! r7 H+ w" |
2017 $665 $672 3.4% Defense = $817.9B
) f5 H" G0 W4 g& n6 L2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
2 V1 d6 p; k2 T2 w7 y, L6 i' X2019 $1,091 $1,314 NA Defense = $956.5B
, F# a, Y3 j0 Z3 J( p2020 $1,101 $1,281 NA Defense = $989B
: h0 l( d W/ L6 I u) }. p* V- ]2021 $1,068 $1,276 NA NA
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