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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion. 5 |$ {; f3 c* P1 ~7 ~
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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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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.
3 b* M4 l) ^3 ~% L# I+ N- S5 H 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8 A" P: e. B5 E9 s2 F$ @9 c% Y
8 B; \$ j) ], K+ R
Fiscal Year Deficit (in billions) Debt Deficit/GDP Events3 X" t9 Q( s) E2 `7 w4 q {
1929 ($1) ($1) (0.7%) Market crash4 O3 J4 ]9 [9 V6 H9 ?
1930 ($1) ($1) (0.8%) Smoot-Hawley
1 n [' u4 g+ ?) ?9 m( m4 I% ]! ^. J$ c1931 $0 $1 0.6% Dust Bowl
2 l7 d6 ]' Y4 X: V3 ]1932 $3 $3 4.5% Hoover tax hike& c3 s5 L# R. F$ O: ~& {
1933 $3 $3 4.5% FDR New Deal" \1 Y m& m/ W7 u7 l7 P
1934 $4 $5 5.4% GDP up 10.8%, debt also rose( @8 M- V' g3 O* y7 G( z
1935 $3 $2 3.8% Social Security
8 M$ b% W2 | q1936 $4 $5 5.1% Tax hikes
+ g9 J; Q5 u9 ^, B3 r1937 $2 $3 2.4% Depression returned, third New Deal4 S9 T* B: e3 M
1938 $0 $1 0.1% Dust Bowl ended0 X7 d) [. q% i1 \8 l
1939 $3 $3 3.0% Depression ended/ I7 B* X2 J+ k$ ~
1940 $3 $3 2.8% Defense increased
! L. g/ Q& T3 T5 }, O1941 $5 $6 3.8% Pearl Harbor5 s* n- g4 [- q
1942 $21 $23 12.3% Battle of Midway9 W W; x: x, |1 d. }# A
1943 $55 $64 26.9% Defense tripled. H3 g) W2 [& z/ t6 q1 c4 g
1944 $48 $64 21.2% Bretton Woods
+ O$ L' {# b7 Q" Y6 ]1945 $48 $58 20.0% WWII ended
* u* n; A% ?; m2 v0 ~6 l* u1946 $16 $11 7.0% Recession4 v, J7 D7 l8 k' Z
1947 ($4) ($11) (1.6%) Cold War
0 p1 p, J: S, z+ @0 d1948 ($12) ($6) (4.2%) Recession
\5 {& q: G$ L1949 ($1) $0 (0.2%) Recession! Q1 m0 f. s) @/ R6 s
1950 $3 $5 1.0% Korean War' S4 V1 m$ U( ~
1951 ($6) ($2) (1.7%) Expansion
; E8 B' k9 r, t( A) |2 E9 I9 Q+ |4 I1952 $2 $4 0.4% Expansion k* k: r! B$ D# [2 O# ]3 e7 a
1953 $6 $7 1.7% Korean War ended, recession K: }5 R; S& J- \
1954 $1 $5 0.3% Recession, Eisenhower budgets4 L$ I% V8 P/ u) y5 L
1955 $3 $3 0.7% Expansion% X6 a# z2 n" X; V' ~
1956 ($4) ($2) (0.9%) Expansion& L8 F# k& c( r
1957 ($3) ($2) (0.7%) Recession
6 y9 h9 L2 t# W6 r7 K b" j2 C1958 $3 $6 0.6% Recession ended x1 g4 y1 o& W- K
1959 $13 $8 2.4% Fed raised rates5 N: k0 K. ^- g6 t$ G# z6 o' G
1960 $0 $2 (0.1%) Recession
1 ?; f' Z3 I% }+ Y1961 $3 $3 0.6% JFK & Bay of Pigs3 S/ w+ Y: u5 {7 L/ j
1962 $7 $10 1.2% Cuban Missile Crisis
0 |# x; }- _- h4 V- R0 t0 z. E1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
% O9 a' a8 u& X0 Y8 T3 B& f E7 ]1964 $6 $6 0.9% LBJ War on Poverty4 r/ C' o' j! k/ ~
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War, _% t+ @9 U5 Z" ^) Z5 {
1966 $4 $3 0.5%
! i R2 a7 N: U G- J/ [* a1967 $9 $6 1.0% Expansion& f( C+ j: B7 A! }" G# t
1968 $25 $21 2.6% Moon landing- J& w0 }% b+ B) p) \2 U5 f
1969 ($3) $6 (0.3%) Nixon took office/ R" E- ^' y2 S& A1 n2 H
1970 $3 $17 0.3% Recession9 v2 \3 c. j# L) ]5 @
1971 $23 $27 2.0% Wage-price controls
v/ Q# x! C3 E4 Y r) q7 c1972 $23 $29 1.8% Stagflation5 }+ b$ O, Y& ?9 ~2 K* b" p4 R
1973 $15 $31 1.0% End of gold standard% e, h8 |" T7 S1 C+ C
1974 $6 $17 0.4% Budget process created, Watergate" Q% w; G. l4 \, U
1975 $53 $58 3.1% Ford budget, Vietnam War ended
1 i7 t$ A' @1 O6 o1976 $74 $87 3.9% Stagflation
. H5 [% a4 v% v4 b1977 $54 $78 2.5% Stagflation, U% Z6 G9 x# Q3 I8 {
1978 $59 $73 2.5% Carter budget, Recession
# k/ `- W6 W! s! D) m1979 $41 $55 1.5% Recession
4 {% W' v8 F- N7 M. o b4 r3 D1980 $74 $81 2.6% Volcker raised rates to 20%6 L# ?" _* i- f ]$ ?
1981 $79 $90 2.4% Reagan tax cut
2 L& \% @: i6 I0 y. @1982 $128 $144 3.8% Reagan increased spending- B- P$ M% M6 ?% \* l9 r% l, d
1983 $208 $235 5.6% Jobless rate was 10.8%
( k8 h+ R) r M8 m# K4 b1984 $185 $195 4.5% Increased defense spending
+ P( Q, |: y! w1985 $212 $256 4.8% Increased defense spending3 `& E; }/ z7 m6 [' @4 x
1986 $221 $297 4.8% Tax cut
: h6 W' e% X( i* E3 h4 H1987 $150 $225 3.1% Market crash; Q2 v6 P5 o5 X* q" u# @
1988 $155 $252 2.9% Fed raised rates5 ~6 m! h: `$ ^ ~# d+ q
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
2 j$ U/ v# o' v% G1 S7 }+ t1990 $221 $376 3.7% Desert Storm1 ]; u3 n+ s' U) A! y$ p9 y* B; o
1991 $269 $432 4.3% Recession
( [% N% H( T; W' M1992 $290 $399 4.4% Expansion( D8 _: h) T$ `# ~4 B* D
1993 $255 $347 3.7% Clinton signed Budget Act7 m& `. a9 C, P, E
1994 $203 $281 2.8% Clinton budget! x8 v. T5 B4 ~: Z, w6 b
1995 $164 $281 2.1% Expansion
6 Y( i0 W3 ?' r7 G( f, P' L; v1996 $107 $251 1.3% Welfare reform
( l. ^0 O; R8 k5 {- \* v1997 $22 $188 0.3% Expansion+ ~" s- \ V2 h3 B
1998 ($69) $113 (0.8%) LTCM crisis, recession( S" J% h% V: M% d8 s( e& ^- D+ U: Y5 y: y
1999 ($126) $130 (1.3%) Glass-Steagall repealed4 T$ ?$ Y6 ^# @# E
2000 ($236) $18 (2.3%) Surplus- G2 T- o/ _0 r: j/ c# ]' S X
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
5 p! [/ F: v) i% ^! _2002 $158 $421 1.4% War on Terror/ N5 t6 U& j6 j* x
2003 $378 $555 3.3% JGTRRA
, v; Z' Y+ B q/ X! d$ D2004 $413 $596 3.4% Iraq War
/ j2 l/ u; N4 ~7 w0 ~' }9 h2005 $318 $554 2.4% Katrina, Bankruptcy Act
! h: _$ t0 T* p1 D# d2006 $248 $578 1.8% Bernanke chairs Fed+ K9 ]$ d: K. |! ]9 E
2007 $161 $501 1.1% Bank crisis
3 Y K! W5 X$ N; u5 q2008 $459 $1,017 3.1% Bank bailout, QE3 y" t: _0 w- [" k6 H# U0 K6 J. [
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
+ Z+ {4 l: B' a4 |3 s# l6 m2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles* \' I# j/ _& @6 K& c& v
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue4 ~( b7 ]- Z7 f- b1 v/ j9 E6 B) v
2012 $1,087 $1,276 6.7% Fiscal cliff2 u7 w% F$ v: i: q! h. H. b* W% ]
2013 $679 $672 4.0% Sequester, government shutdown
- _6 U0 v" ~6 Q& G; Z( k2014 $485 $1,086 2.7% Debt ceiling, R: |' p) [! m5 d6 l% B
2015 $438 $327 2.4% Defense = $736.4B
9 ~! i% p+ M/ B1 @5 }6 Y2016 $585 $1,423 3.1% Defense = $767.6B
: A6 p9 H9 c7 l+ g4 h2017 $665 $672 3.4% Defense = $817.9B* H- j7 u% g+ C9 z1 E1 a
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
6 w& Y6 N7 J+ E! @5 ~3 p% q) F, D2019 $1,091 $1,314 NA Defense = $956.5B2 Y3 c; R5 r3 X( ?5 l U# h
2020 $1,101 $1,281 NA Defense = $989B
5 }+ r; g L# u! l) { o2021 $1,068 $1,276 NA NA
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