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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
7 J- F$ j$ s) Z, Y/ |' \% a0 k
5 b/ v- r# v; |2020财年美国预算赤字预计为1.1万亿美元7 O. N B+ \0 f% ]( F6 r$ I
1 J) c4 ~3 c+ ]5 P; z; @* F, W# DThe 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.
6 E: g1 D q+ A2 p& \ 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: U/ } d& a! r" T% q) T9 K" j
1 D( p1 D! j3 [* ZFiscal Year Deficit (in billions) Debt Deficit/GDP Events
4 ~5 d* h) K0 J! n1929 ($1) ($1) (0.7%) Market crash0 N! i8 {4 X/ k' U- o6 p! m" ~
1930 ($1) ($1) (0.8%) Smoot-Hawley
, s$ @5 P1 E" ]1931 $0 $1 0.6% Dust Bowl. }( |" C# _" F" j0 ]9 |5 }
1932 $3 $3 4.5% Hoover tax hike
5 @" ]* t& q7 s1933 $3 $3 4.5% FDR New Deal
A; G. d+ C) M, M9 Y! f, ~1934 $4 $5 5.4% GDP up 10.8%, debt also rose
: W6 A" v) X, |- v0 J+ P1935 $3 $2 3.8% Social Security
' M& S# o4 }( V ~ D& d1936 $4 $5 5.1% Tax hikes
% m% {; A& k0 h! V' t) K6 S2 G# u1937 $2 $3 2.4% Depression returned, third New Deal
9 j: ?* G2 }0 r; p9 M1938 $0 $1 0.1% Dust Bowl ended
; G3 j" H) E) [, _2 i1939 $3 $3 3.0% Depression ended
: \. j0 w- q# g& v1940 $3 $3 2.8% Defense increased
4 k, S. w9 Z; ^5 u/ n1 v# d9 ?! M1941 $5 $6 3.8% Pearl Harbor( O$ \2 G" O7 z- b
1942 $21 $23 12.3% Battle of Midway2 s; u' `& x: P
1943 $55 $64 26.9% Defense tripled5 `/ m4 s1 Y* k
1944 $48 $64 21.2% Bretton Woods
. Y+ `- |0 j. q: ~9 F0 ?1945 $48 $58 20.0% WWII ended- Q" `( ?. e4 P; X! G; d
1946 $16 $11 7.0% Recession9 E) ]$ d1 @8 X; j* T1 q
1947 ($4) ($11) (1.6%) Cold War
/ e' r2 h0 H+ h( I) @" e- }1948 ($12) ($6) (4.2%) Recession
; ?7 a# a% E: M1949 ($1) $0 (0.2%) Recession
1 L1 a( G$ \ c: I1950 $3 $5 1.0% Korean War
! }. t( \6 J. i1951 ($6) ($2) (1.7%) Expansion
" Q$ R! Q! X6 F3 i1952 $2 $4 0.4% Expansion, @5 `3 ^% J* l0 j4 h7 ] K
1953 $6 $7 1.7% Korean War ended, recession1 W5 T+ q* P. j |) }2 D4 B6 j
1954 $1 $5 0.3% Recession, Eisenhower budgets
1 V; A+ u5 p) `/ E8 R1955 $3 $3 0.7% Expansion" \8 a0 H% |. X1 m
1956 ($4) ($2) (0.9%) Expansion( W* |& l. ~/ ~; {$ ]* d
1957 ($3) ($2) (0.7%) Recession+ d4 M1 o& _, X7 U) H
1958 $3 $6 0.6% Recession ended3 J+ m; t6 e G+ q9 O9 O
1959 $13 $8 2.4% Fed raised rates4 l+ B' l3 j0 T) m7 y
1960 $0 $2 (0.1%) Recession
7 d, e( q& K- S. e1961 $3 $3 0.6% JFK & Bay of Pigs
) t# _! Y8 \+ n( v$ h( c) _1962 $7 $10 1.2% Cuban Missile Crisis4 k+ F) C* \; X- ]4 G8 W
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
2 G) C- r0 W" q0 h1964 $6 $6 0.9% LBJ War on Poverty( @ ]' ]7 ]: V9 ?& E
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
) V( _! b# f @& }( F2 j1966 $4 $3 0.5% 5 A8 g+ j8 ? P4 ~ Y' O3 i
1967 $9 $6 1.0% Expansion
' q$ I& T5 J: w1968 $25 $21 2.6% Moon landing% j" W% W4 Q3 C, J) R! q
1969 ($3) $6 (0.3%) Nixon took office
% t" l2 }/ T: Z* b: \: U1970 $3 $17 0.3% Recession
+ M8 y3 L/ B+ \# I* n0 E2 ~7 _" B3 X1971 $23 $27 2.0% Wage-price controls
* w9 K; ^$ K0 Y5 h) l( I1972 $23 $29 1.8% Stagflation# @. p, F. O" i
1973 $15 $31 1.0% End of gold standard$ }$ K: z0 J" C; D6 Y
1974 $6 $17 0.4% Budget process created, Watergate
- Y+ Z4 Y* V* @1975 $53 $58 3.1% Ford budget, Vietnam War ended
! Y+ Z% z- v9 |+ D! Q# o1976 $74 $87 3.9% Stagflation
8 q$ d1 ^% O5 k, S1977 $54 $78 2.5% Stagflation3 {, v" ^4 \; T: }. B2 U. L9 m" E9 L
1978 $59 $73 2.5% Carter budget, Recession
# R% c ~+ ?* q3 k; F1979 $41 $55 1.5% Recession
4 D; Z; R; t0 {5 s! Z8 E7 C! \1980 $74 $81 2.6% Volcker raised rates to 20%
8 q9 L S) v8 t4 n1981 $79 $90 2.4% Reagan tax cut) V5 j1 |4 ^% X- `
1982 $128 $144 3.8% Reagan increased spending( V7 O! X4 v! g
1983 $208 $235 5.6% Jobless rate was 10.8%
- U0 N6 F, F: t4 u! f$ r1984 $185 $195 4.5% Increased defense spending
3 F- c, m& S5 J- `1 C: s1985 $212 $256 4.8% Increased defense spending
0 R; s z, Q5 j; E4 O1 Q, A1986 $221 $297 4.8% Tax cut
$ M5 h, E* M3 _% \1987 $150 $225 3.1% Market crash
o( G( U( G9 {& H i( m% t1988 $155 $252 2.9% Fed raised rates) {# g3 x- {3 e( Z; j3 o
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget- o( `9 K6 N2 K
1990 $221 $376 3.7% Desert Storm9 f: l6 F$ [3 D7 o! Z
1991 $269 $432 4.3% Recession
: s0 j W3 L, N1992 $290 $399 4.4% Expansion
( g3 {) q) I( y2 E1993 $255 $347 3.7% Clinton signed Budget Act* R( z" ^% k- f4 V% m* y
1994 $203 $281 2.8% Clinton budget, }9 W. u8 @9 I8 y5 [( w4 y, m/ z
1995 $164 $281 2.1% Expansion# A z! Z6 }/ X: m
1996 $107 $251 1.3% Welfare reform1 w2 M" T4 y( g+ \1 f6 B
1997 $22 $188 0.3% Expansion9 Y$ ^# @4 t- j: q7 c K9 x
1998 ($69) $113 (0.8%) LTCM crisis, recession
, N* Z' S/ X* V1999 ($126) $130 (1.3%) Glass-Steagall repealed* G9 O4 f6 r5 z4 B
2000 ($236) $18 (2.3%) Surplus
- v+ y+ O# W9 i1 e9 c1 c2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA/ Y- T* y2 l2 ]" Q" R
2002 $158 $421 1.4% War on Terror/ r1 O! P1 o8 C9 c
2003 $378 $555 3.3% JGTRRA8 |* L6 h& ^( l- N4 O! T
2004 $413 $596 3.4% Iraq War' Y& a( V9 P* R( F
2005 $318 $554 2.4% Katrina, Bankruptcy Act1 J. |$ [/ \# I# t. M9 P
2006 $248 $578 1.8% Bernanke chairs Fed) A( d% w4 `! J0 A1 `; H) N9 _' {
2007 $161 $501 1.1% Bank crisis7 G- x; G$ B' i/ O
2008 $459 $1,017 3.1% Bank bailout, QE# M L0 V% G0 w K! B
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
/ g5 D* ?; B( J( I) D! J2 u) z: y2 l2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles; l5 ~5 P3 ^" i+ O( e
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue3 ^( T& H& ?! H# B6 t' `
2012 $1,087 $1,276 6.7% Fiscal cliff
. V& Z A$ R0 w6 P* e* N2013 $679 $672 4.0% Sequester, government shutdown
. R, R; u9 `7 _7 t5 L( ~0 o2014 $485 $1,086 2.7% Debt ceiling
- D4 j" H. q; Q' G& e2015 $438 $327 2.4% Defense = $736.4B
0 p( g' a: H/ S( }2016 $585 $1,423 3.1% Defense = $767.6B
* s* J) Q5 ]. ]% a4 P2017 $665 $672 3.4% Defense = $817.9B4 C# }2 w6 I9 F5 v# G1 ` C5 A- r0 b
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts: e( U+ z3 S' G% q; n$ y* c
2019 $1,091 $1,314 NA Defense = $956.5B# E8 p5 F( j" P2 ?
2020 $1,101 $1,281 NA Defense = $989B
( w1 ^2 h5 B- [( ]$ W' |, l2021 $1,068 $1,276 NA NA
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