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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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2020财年美国预算赤字预计为1.1万亿美元
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5 y1 @! G, }( D. |$ ~' tThe 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.
' D- J% m: U, n% n# C& E0 F( r u 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2 t! {. ^. S8 _
& [# U% t7 I& y' iFiscal Year Deficit (in billions) Debt Deficit/GDP Events
6 s& y) m5 o; }4 V1929 ($1) ($1) (0.7%) Market crash2 a; k. S1 A& E$ m
1930 ($1) ($1) (0.8%) Smoot-Hawley8 g2 k* ~7 W) d/ I2 H' E
1931 $0 $1 0.6% Dust Bowl
) ]3 S& F( P" c( h- u1932 $3 $3 4.5% Hoover tax hike% A( r/ _- R. T+ r( O- H- D
1933 $3 $3 4.5% FDR New Deal
' q8 U; R; L8 z/ M& j3 C( t1934 $4 $5 5.4% GDP up 10.8%, debt also rose* J2 p' k3 u4 A g
1935 $3 $2 3.8% Social Security
8 U$ V9 U1 R, H1936 $4 $5 5.1% Tax hikes
, h# B6 [4 ?4 K! T1937 $2 $3 2.4% Depression returned, third New Deal
- U7 ^/ B/ M4 B9 M5 F2 k. F1938 $0 $1 0.1% Dust Bowl ended
* `& h: F* m% |6 ^, \1939 $3 $3 3.0% Depression ended$ a4 f4 c: S6 p3 x. I
1940 $3 $3 2.8% Defense increased* v' @$ |1 j$ `/ n3 n
1941 $5 $6 3.8% Pearl Harbor
: ?7 `2 \8 Q* f5 X% R+ o; z4 F1942 $21 $23 12.3% Battle of Midway2 D W% h s& C5 h$ a8 I1 w
1943 $55 $64 26.9% Defense tripled$ E; B& ~7 t/ }; f
1944 $48 $64 21.2% Bretton Woods6 C: D8 b! H; E5 h8 L' Y
1945 $48 $58 20.0% WWII ended/ P9 d9 p; `/ _, ]+ d7 x# U# U! m
1946 $16 $11 7.0% Recession" W' X+ c9 X3 F: S& A; Y" b: z
1947 ($4) ($11) (1.6%) Cold War9 G. n0 ~$ E+ D% [. T
1948 ($12) ($6) (4.2%) Recession& b7 n& E; Y3 ^' Q' R: A2 M# D
1949 ($1) $0 (0.2%) Recession
0 [. q$ F/ U# q0 k4 c1950 $3 $5 1.0% Korean War" g+ D( H. O' c; U- C9 `9 z3 D }2 d
1951 ($6) ($2) (1.7%) Expansion
: o" g; d: \ C- e1952 $2 $4 0.4% Expansion7 n5 l# {: x4 a% c' K
1953 $6 $7 1.7% Korean War ended, recession
% M. g" Z: ~+ P) N8 s/ ?1954 $1 $5 0.3% Recession, Eisenhower budgets
+ D7 h! k/ v4 T% ~1955 $3 $3 0.7% Expansion
. I2 O6 |; B: x1 I! x4 i, x; L1956 ($4) ($2) (0.9%) Expansion
4 R! Q8 z; d3 u) W' `, M1 P1957 ($3) ($2) (0.7%) Recession
3 M# y& I1 Y2 ]1958 $3 $6 0.6% Recession ended. X! j) i; j+ Z; v e% |
1959 $13 $8 2.4% Fed raised rates
5 i* H* t% S0 H _( V1960 $0 $2 (0.1%) Recession
0 X' p, S7 U+ K. |1961 $3 $3 0.6% JFK & Bay of Pigs% a: Z' g* @! o' A
1962 $7 $10 1.2% Cuban Missile Crisis" d" n9 z, I5 m, `, n% j8 m3 @4 z
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed9 i' S7 o) V! q& w, I
1964 $6 $6 0.9% LBJ War on Poverty
D" N* T# Q* v% S7 Q- k1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
! |' ~' W9 u! w" |! q7 W1966 $4 $3 0.5%
, a9 b7 h+ e7 T2 U1967 $9 $6 1.0% Expansion9 g6 Y+ s. ^( x% k9 B
1968 $25 $21 2.6% Moon landing/ X- V) G R! L5 M( R6 \
1969 ($3) $6 (0.3%) Nixon took office
k* L! L) O5 z$ M1970 $3 $17 0.3% Recession
5 [, ~) T3 V, E# K3 P1971 $23 $27 2.0% Wage-price controls
; h# d, K- I! y- v! N1972 $23 $29 1.8% Stagflation0 |3 ?" y+ E! N [1 \
1973 $15 $31 1.0% End of gold standard
9 D) ] P$ v$ j: M0 p/ x/ A+ @- O1974 $6 $17 0.4% Budget process created, Watergate5 ^5 {' [$ Z; U0 S4 y3 e
1975 $53 $58 3.1% Ford budget, Vietnam War ended) u I5 h @; T( l
1976 $74 $87 3.9% Stagflation
/ p, r! K% }) N! f3 ?& X- O1977 $54 $78 2.5% Stagflation
( j4 p5 P; R+ o& O& e4 ^1978 $59 $73 2.5% Carter budget, Recession
) E/ z1 I1 _8 S& M3 p1979 $41 $55 1.5% Recession2 }( T1 ?$ G! B. F* P5 L" M
1980 $74 $81 2.6% Volcker raised rates to 20%
) f3 H# K( E, |6 Y8 P! M! c1981 $79 $90 2.4% Reagan tax cut
' [) m, k' @2 e' w4 p) j5 v1982 $128 $144 3.8% Reagan increased spending. M q1 J) y/ z5 B0 x, t3 t
1983 $208 $235 5.6% Jobless rate was 10.8%
4 N# e% b0 u2 @* g' Y% m: m1984 $185 $195 4.5% Increased defense spending
% j8 u* _, f1 z" d( _1985 $212 $256 4.8% Increased defense spending1 J! D7 A0 C7 ~2 r3 f
1986 $221 $297 4.8% Tax cut! w; i q/ r" u6 q
1987 $150 $225 3.1% Market crash% `) u, ]3 L& t; O, V( F
1988 $155 $252 2.9% Fed raised rates
0 s1 m7 k3 p" ?# t1989 $153 $255 2.7% S&L Crisis, Bush 41 budget, R, b5 M% S1 Q a
1990 $221 $376 3.7% Desert Storm# a% V. {: D) w/ r4 n r/ x
1991 $269 $432 4.3% Recession0 Z7 I0 i. S* _2 m! g8 m
1992 $290 $399 4.4% Expansion+ f. B; P3 {% i2 R6 B8 U
1993 $255 $347 3.7% Clinton signed Budget Act5 ], T5 D& {6 `5 R- i- z- I
1994 $203 $281 2.8% Clinton budget# b2 b6 F. C6 {2 p: M$ d6 V; t( {
1995 $164 $281 2.1% Expansion) a8 u0 _1 N" T/ ~5 E2 B
1996 $107 $251 1.3% Welfare reform
1 q4 z- A7 } @; f9 Q2 C1997 $22 $188 0.3% Expansion
! _- g- M5 i' F$ i% V ]1998 ($69) $113 (0.8%) LTCM crisis, recession
! p5 k1 O9 l0 c# x8 W) z2 t1 `. k1999 ($126) $130 (1.3%) Glass-Steagall repealed
2 g8 @+ g1 ?0 _, f: l- J2000 ($236) $18 (2.3%) Surplus
' V; Y" A* d. l7 q5 w2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
: A/ w3 g! |! [# G! o$ f0 q) N5 f2002 $158 $421 1.4% War on Terror
- h5 ]" d7 J7 s5 b: F8 @2 ~8 P2003 $378 $555 3.3% JGTRRA
2 Q; [- y+ g n2004 $413 $596 3.4% Iraq War, f& X" \/ j+ x$ N, g% b% n
2005 $318 $554 2.4% Katrina, Bankruptcy Act8 I! h) I- k: m7 U. ]
2006 $248 $578 1.8% Bernanke chairs Fed
5 `% D k6 D6 X' C) h4 }4 u# ]) R2007 $161 $501 1.1% Bank crisis& Q5 ? r6 `# q- l0 f0 q
2008 $459 $1,017 3.1% Bank bailout, QE
; C5 G/ ^" q$ Z7 U* i( [ O2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B8 z7 K" B8 Z7 @# @
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles. R% Y* J# U$ f8 U [. u
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue' d0 I6 D O& R3 ?' [" u7 w1 P+ T
2012 $1,087 $1,276 6.7% Fiscal cliff
0 M- k( P1 Z r9 _1 r4 p2013 $679 $672 4.0% Sequester, government shutdown! m M7 D/ h( e) U9 Y; I2 ]9 o6 @
2014 $485 $1,086 2.7% Debt ceiling
8 Y& M. P, F: p2015 $438 $327 2.4% Defense = $736.4B
/ d: m9 u+ h! u S2016 $585 $1,423 3.1% Defense = $767.6B
: c, w- U# F8 Q. D0 h: `2017 $665 $672 3.4% Defense = $817.9B
5 |' C! }& ~! Z' D" f$ A2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts( R( j+ j4 a) A3 g0 p
2019 $1,091 $1,314 NA Defense = $956.5B
9 @; B4 X! f+ z% }2020 $1,101 $1,281 NA Defense = $989B" p, a. g, ^. x) m" D J
2021 $1,068 $1,276 NA NA% R) H- E) c: Z9 y
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