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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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2020财年美国预算赤字预计为1.1万亿美元& o! @4 ^6 Q% X7 b
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The first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.1 M- T* Q, ]& k `* }. w
第一列表示会计年度，其次是该年度的赤字（十亿）。其次是财政年度的债务增加，其次是赤字/ GDP。最后，列举了影响赤字的事件9 ?7 Q4 Z$ I+ A- @" a
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Fiscal Year Deficit (in billions) Debt Deficit/GDP Events
2 u8 ]3 u* l1 ?; R1929 ($1) ($1) (0.7%) Market crash+ |1 U/ R- U. M8 w3 B9 v8 U
1930 ($1) ($1) (0.8%) Smoot-Hawley" K0 a0 }, E4 p$ M7 T: V* U, S2 E
1931 $0 $1 0.6% Dust Bowl
! ^9 c+ T6 c9 \2 N2 E1932 $3 $3 4.5% Hoover tax hike1 B2 v5 \- l+ N) \
1933 $3 $3 4.5% FDR New Deal8 U- \- X) J$ J& D
1934 $4 $5 5.4% GDP up 10.8%, debt also rose
V2 r; r F9 w1935 $3 $2 3.8% Social Security
. x1 j7 u9 |6 ]4 \* h! w9 L0 K1936 $4 $5 5.1% Tax hikes6 z# N' P/ S! f2 l& h
1937 $2 $3 2.4% Depression returned, third New Deal/ ?8 q* k( {5 z N( W, c( \; @3 O
1938 $0 $1 0.1% Dust Bowl ended
% P& Q2 F5 z2 ?( K1939 $3 $3 3.0% Depression ended
% p( Q, @1 Z6 l; l8 W+ U% m1940 $3 $3 2.8% Defense increased
/ n% l' a1 ~4 ]5 P1941 $5 $6 3.8% Pearl Harbor
- a) Y# \ Z/ y4 H1942 $21 $23 12.3% Battle of Midway
8 K/ E* V- v+ u! i1943 $55 $64 26.9% Defense tripled2 J+ Y" x( X% U! T
1944 $48 $64 21.2% Bretton Woods( v J& P% r% m* n' E
1945 $48 $58 20.0% WWII ended5 y) U5 ~( B/ c8 V( o$ L8 {
1946 $16 $11 7.0% Recession
|4 W1 c" P7 n4 U+ m$ w! A1947 ($4) ($11) (1.6%) Cold War
) X. C V+ H9 g( m5 F2 r! _) r1948 ($12) ($6) (4.2%) Recession* } o$ A: F! K. Z# l' H
1949 ($1) $0 (0.2%) Recession
1 W0 k' |- v1 i3 _# }- G* c. `1950 $3 $5 1.0% Korean War
$ V0 L' J, U. c# |1951 ($6) ($2) (1.7%) Expansion
* b& N3 k0 P, K, N" M9 Y1 R1952 $2 $4 0.4% Expansion
5 A$ B, w) i) x5 g$ o1953 $6 $7 1.7% Korean War ended, recession# i' a4 J- `9 b- q+ [: i. n4 i' ^
1954 $1 $5 0.3% Recession, Eisenhower budgets
$ s9 s+ t3 h; W0 _8 c4 J, t1955 $3 $3 0.7% Expansion
/ a/ X, N; K& `1 E( q* M. c1956 ($4) ($2) (0.9%) Expansion
P2 \1 {6 h/ ]. A. B, Q+ T$ W1957 ($3) ($2) (0.7%) Recession* n/ S- D' w7 r2 C* V5 p8 q6 F
1958 $3 $6 0.6% Recession ended6 V4 a1 j- c; ~# v+ W6 X" _
1959 $13 $8 2.4% Fed raised rates& s! v5 P! m/ @% S+ q# [. K
1960 $0 $2 (0.1%) Recession. Y! i6 `) U) c2 g/ U
1961 $3 $3 0.6% JFK & Bay of Pigs/ w9 Z2 B! T- N8 g
1962 $7 $10 1.2% Cuban Missile Crisis% i: ]8 D& e0 w: X
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
7 \; r8 U* W, I5 Y5 T. r) B1964 $6 $6 0.9% LBJ War on Poverty7 ^$ k5 g% w. ?/ \
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
2 }" ^2 r9 b$ n1966 $4 $3 0.5% % ~& b/ o& K5 v. z6 x2 B! Y
1967 $9 $6 1.0% Expansion
8 L, F: J% U+ I- B; E [1968 $25 $21 2.6% Moon landing+ R, H F# p5 H2 k. }/ V0 f
1969 ($3) $6 (0.3%) Nixon took office
4 Z5 m& o5 z1 M( L! M; |9 ]5 O1970 $3 $17 0.3% Recession
+ M S% ]% B5 a& O4 A; Z8 g1971 $23 $27 2.0% Wage-price controls# W5 R# ~ o) d) Q: H+ d$ ?, G
1972 $23 $29 1.8% Stagflation4 L: z5 c6 I0 ~" o2 Q" Q
1973 $15 $31 1.0% End of gold standard( A, f- G/ r2 }- B" Z/ `$ W4 _8 _
1974 $6 $17 0.4% Budget process created, Watergate6 j4 U! `6 c5 J. Z
1975 $53 $58 3.1% Ford budget, Vietnam War ended
; `( V9 M/ k$ ~ R2 V1976 $74 $87 3.9% Stagflation7 ~2 v1 P2 R* _ P+ L7 K- v
1977 $54 $78 2.5% Stagflation6 F/ n5 N/ ]3 L5 D; z9 ]
1978 $59 $73 2.5% Carter budget, Recession
- b8 R/ [! Y6 G% j1979 $41 $55 1.5% Recession
8 ~3 j- r: G( |1980 $74 $81 2.6% Volcker raised rates to 20%% j& z3 k$ z. ?
1981 $79 $90 2.4% Reagan tax cut
! [9 H7 ]8 e b* A7 o1982 $128 $144 3.8% Reagan increased spending9 k. T6 `5 _, \
1983 $208 $235 5.6% Jobless rate was 10.8%2 @4 y0 H- Y; J' Q+ Z9 {+ W) f
1984 $185 $195 4.5% Increased defense spending
8 X) \! W9 @/ q. W5 w; G1985 $212 $256 4.8% Increased defense spending- O, T* k# ?+ I
1986 $221 $297 4.8% Tax cut* Z' R2 d' X; j. r
1987 $150 $225 3.1% Market crash
% y% S3 G5 ?! v @2 {1988 $155 $252 2.9% Fed raised rates4 J$ _+ b1 R5 T/ P; |& t
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
/ T) ~: N& F1 f1990 $221 $376 3.7% Desert Storm
( B# F3 R% d6 l1 E- T% T" J) D* q1991 $269 $432 4.3% Recession" J6 {$ H: m/ J9 {7 u/ U
1992 $290 $399 4.4% Expansion
( y$ R# r$ o. e7 t1993 $255 $347 3.7% Clinton signed Budget Act
" ]2 o# e! X( D' h9 X; w1994 $203 $281 2.8% Clinton budget
# T( x0 t3 M/ i' X1995 $164 $281 2.1% Expansion+ S& G D" q! ]' ?! U5 Q
1996 $107 $251 1.3% Welfare reform9 H8 C& |. t& j' k. j
1997 $22 $188 0.3% Expansion) b3 I9 N. z; M* G. w
1998 ($69) $113 (0.8%) LTCM crisis, recession* }: s. i. h1 D6 B% ~ z
1999 ($126) $130 (1.3%) Glass-Steagall repealed* b( G, `8 U+ Z6 R8 Q) h
2000 ($236) $18 (2.3%) Surplus+ s9 g/ i9 k B$ b
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA+ {8 n, m9 T7 j& s# E
2002 $158 $421 1.4% War on Terror( E' ?7 l. O! P0 {0 l) ]" j
2003 $378 $555 3.3% JGTRRA
% _& O+ _" _, F* { y$ y# e: L$ o6 A8 P8 y2004 $413 $596 3.4% Iraq War
: ~, d. R" n. K5 r: Q# \9 \2005 $318 $554 2.4% Katrina, Bankruptcy Act, |) L0 |# x0 R7 D$ v
2006 $248 $578 1.8% Bernanke chairs Fed
6 P3 S$ O! W6 G! n* ]2007 $161 $501 1.1% Bank crisis# ]* B* k$ ^0 P J3 ?0 M* J0 R
2008 $459 $1,017 3.1% Bank bailout, QE: o+ h7 }" F' h
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B4 T0 A: X+ ~( h; {( c
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles- |0 e3 h& {, B- A
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue2 G" C1 q% I. O. N/ L1 I6 i, P
2012 $1,087 $1,276 6.7% Fiscal cliff
* n7 I$ b+ o! F& _+ q% a2 ~, ?2013 $679 $672 4.0% Sequester, government shutdown1 |8 |6 b0 Z. l& i: A
2014 $485 $1,086 2.7% Debt ceiling4 L1 U3 R! {! H* U
2015 $438 $327 2.4% Defense = $736.4B' _1 A; g; \) O6 i: w: C
2016 $585 $1,423 3.1% Defense = $767.6B' B7 c# ] [- R& R+ d; F9 T q
2017 $665 $672 3.4% Defense = $817.9B
4 h9 Y: n. o2 w) x2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
2 y, p4 f0 u- ?$ {4 [& h1 r2019 $1,091 $1,314 NA Defense = $956.5B8 K; U. x: X! j z
2020 $1,101 $1,281 NA Defense = $989B; O9 g" `* f. J1 i8 l- n7 P
2021 $1,068 $1,276 NA NA
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