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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) E9 {' M" S" n
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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.
2 O& v* H6 ?& i" \ 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1 \! M4 @( D# H) ]2 M+ O
( E9 [0 X- @# x3 K9 y. hFiscal Year Deficit (in billions) Debt Deficit/GDP Events
/ H+ Z0 l, b. ?1 f; \; r% |4 F; o9 u1929 ($1) ($1) (0.7%) Market crash
6 m, w7 i4 w; V3 `( V3 q8 H# ?/ X1930 ($1) ($1) (0.8%) Smoot-Hawley) e5 B6 u1 d/ [5 w2 g
1931 $0 $1 0.6% Dust Bowl. z0 p0 m! ~0 S9 V# M( t& @, d
1932 $3 $3 4.5% Hoover tax hike/ A( C% j! Q% `. g7 S# @- k
1933 $3 $3 4.5% FDR New Deal
5 C' g8 V h* U* r1934 $4 $5 5.4% GDP up 10.8%, debt also rose( r/ ~, ?- Q n( d% L4 A
1935 $3 $2 3.8% Social Security) ]$ d; }! C- R3 m, H
1936 $4 $5 5.1% Tax hikes
r: n9 D; i6 ~( M1937 $2 $3 2.4% Depression returned, third New Deal
& k4 s3 M' T7 j6 w1938 $0 $1 0.1% Dust Bowl ended
R/ X1 J- k" w5 f* a6 w; M* ?$ m1939 $3 $3 3.0% Depression ended: [" [7 R4 r5 }: I5 ]
1940 $3 $3 2.8% Defense increased
# O1 v/ v: }0 ~2 H1941 $5 $6 3.8% Pearl Harbor
, P" w2 M l* K- N1942 $21 $23 12.3% Battle of Midway7 L, W+ a3 j" o& V P
1943 $55 $64 26.9% Defense tripled6 C, ]( w% Z V; k
1944 $48 $64 21.2% Bretton Woods
. F4 U- f3 ]0 ]2 v a+ }6 h. N6 ]$ ~1945 $48 $58 20.0% WWII ended% l: K+ ]) P0 ]% j( z
1946 $16 $11 7.0% Recession
) I$ _2 v8 {; S! c* L6 K1947 ($4) ($11) (1.6%) Cold War
9 W6 \( [7 K5 H2 A4 x( |1 n1948 ($12) ($6) (4.2%) Recession$ ] d, K" W. k, }! d
1949 ($1) $0 (0.2%) Recession f% D. D9 O, ^4 Q9 ] m
1950 $3 $5 1.0% Korean War
* f% }! b+ h' U! l/ g1951 ($6) ($2) (1.7%) Expansion: ~) o, X! p+ C2 v; F$ d
1952 $2 $4 0.4% Expansion
) C" p! c+ [2 w1953 $6 $7 1.7% Korean War ended, recession
6 ^9 J; [" Z! ?: y1954 $1 $5 0.3% Recession, Eisenhower budgets
; P0 \. L8 m8 k$ K1955 $3 $3 0.7% Expansion
+ g6 h3 a z5 \& p7 N; k1 {# K1956 ($4) ($2) (0.9%) Expansion0 c% c& r1 |& }$ K* @
1957 ($3) ($2) (0.7%) Recession
- @0 m0 K! r) g) n8 N$ K1958 $3 $6 0.6% Recession ended
) B* A) l; i/ U5 r7 F& X+ S2 p. W1959 $13 $8 2.4% Fed raised rates( p. Y% y+ C# X0 r- B
1960 $0 $2 (0.1%) Recession
~5 I, _" L% H* m! x/ g- R x1961 $3 $3 0.6% JFK & Bay of Pigs5 |9 `; T& x- j8 X t) n
1962 $7 $10 1.2% Cuban Missile Crisis! ~; _3 ?# V6 ^
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
! X, d3 I2 |9 M: G( U* h0 G1 ]9 C1964 $6 $6 0.9% LBJ War on Poverty0 Y( ?+ d/ U( _6 E7 l) l1 z8 c
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War3 ~/ c- V, J( d
1966 $4 $3 0.5% 2 r% B/ @1 N9 d8 k+ y
1967 $9 $6 1.0% Expansion! V8 ~7 {& _& \
1968 $25 $21 2.6% Moon landing& G+ A% S; h( ]. D
1969 ($3) $6 (0.3%) Nixon took office# l6 C r: @7 h
1970 $3 $17 0.3% Recession
2 N* m4 D: F3 U. L s W7 U0 F; Q1971 $23 $27 2.0% Wage-price controls( x2 w5 k+ b4 f& U! Z
1972 $23 $29 1.8% Stagflation
2 F) ~" I/ X% b1973 $15 $31 1.0% End of gold standard
* m- d% N5 _& R. J1974 $6 $17 0.4% Budget process created, Watergate
% z3 b+ H6 i) l: H, u" {1975 $53 $58 3.1% Ford budget, Vietnam War ended' A: v, ?& R( B% m& Y* k9 P5 p. C
1976 $74 $87 3.9% Stagflation+ @; F0 w0 q9 @3 J1 k/ U B
1977 $54 $78 2.5% Stagflation' K& N+ q$ j+ T4 x# M) o- K$ ?
1978 $59 $73 2.5% Carter budget, Recession
' s- j, h \) u% Q' T! N1979 $41 $55 1.5% Recession G( ]5 Q% v& M! x( i
1980 $74 $81 2.6% Volcker raised rates to 20%& K9 \" X8 U8 l9 \
1981 $79 $90 2.4% Reagan tax cut" ~6 o$ x+ @% M. U t
1982 $128 $144 3.8% Reagan increased spending8 |8 @! e$ Z7 t! A2 a! O
1983 $208 $235 5.6% Jobless rate was 10.8%/ B6 k: G* C3 w+ a5 p( W: n1 E& I
1984 $185 $195 4.5% Increased defense spending
# \2 x* g' F9 G: B4 l0 ^1985 $212 $256 4.8% Increased defense spending
O5 Q2 p. t; `, N* s$ F1986 $221 $297 4.8% Tax cut1 j2 H+ W# z. }+ T Q+ n f) [
1987 $150 $225 3.1% Market crash
# |3 s1 f) j5 M% J( Y; S* P1988 $155 $252 2.9% Fed raised rates( V1 Q, ]5 s9 |
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
# n0 [4 v( H* y1990 $221 $376 3.7% Desert Storm* m0 s* M: o7 i: T+ o
1991 $269 $432 4.3% Recession
8 C$ y% _! Y' g- M' a" S1992 $290 $399 4.4% Expansion
, L* |, u- c, ]+ r* D e1993 $255 $347 3.7% Clinton signed Budget Act
& E, c) I: o$ Y7 \8 p1994 $203 $281 2.8% Clinton budget
* W( q$ E. }0 A4 D& G2 _1995 $164 $281 2.1% Expansion
' P6 D# u/ g! d) S* s. i3 |* l, j, ?1996 $107 $251 1.3% Welfare reform
( o& n6 P) d+ s: u1997 $22 $188 0.3% Expansion& Q: P1 X1 z5 w- p+ r
1998 ($69) $113 (0.8%) LTCM crisis, recession
& y8 O, F. ?& P) }" w; f1999 ($126) $130 (1.3%) Glass-Steagall repealed! @$ W7 L1 t+ @& U
2000 ($236) $18 (2.3%) Surplus. \8 h H$ p) b4 {' E( o: v
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
: y' ~- J# j5 {4 n" p% \9 D2002 $158 $421 1.4% War on Terror8 X# u1 m# s% _/ H8 u
2003 $378 $555 3.3% JGTRRA
( Q, v6 H/ q/ f' |5 d a2004 $413 $596 3.4% Iraq War
- D9 M5 ?4 P- V7 p2 _+ i2005 $318 $554 2.4% Katrina, Bankruptcy Act- E$ W6 _9 {* ?0 ]
2006 $248 $578 1.8% Bernanke chairs Fed7 Q9 N; E+ u0 A! D" y
2007 $161 $501 1.1% Bank crisis y0 ]* N* p* c. M5 s( v- k3 {- x
2008 $459 $1,017 3.1% Bank bailout, QE
5 H& f; H, r2 }2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
1 G( k; I' D) G/ K0 i% }/ R2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles0 J2 z* l% C7 M# J9 m
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue4 Q2 K) r! U" K" {
2012 $1,087 $1,276 6.7% Fiscal cliff. A( }* W! J! S, W% b! C2 l: o
2013 $679 $672 4.0% Sequester, government shutdown% G' H+ E* H! O( O
2014 $485 $1,086 2.7% Debt ceiling
3 p6 n8 U. @7 b7 d, H% G% W- ^2015 $438 $327 2.4% Defense = $736.4B6 ]. P* ]4 k- z3 L
2016 $585 $1,423 3.1% Defense = $767.6B T2 m: e( j8 n/ {6 P% G
2017 $665 $672 3.4% Defense = $817.9B1 W3 X3 G) q( `2 U, P. K
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
/ k! x5 _1 \1 S/ Y% \2019 $1,091 $1,314 NA Defense = $956.5B
+ X- x! W8 Q: I; F- Y& c2020 $1,101 $1,281 NA Defense = $989B
6 ~2 Y, @$ m* ^# X7 x! i5 W6 H2021 $1,068 $1,276 NA NA
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