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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion. * A5 b; R: t0 S* }
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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.
& X5 g" P/ ~0 {2 S& a9 \4 X 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
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6 l/ }- ^: b, j7 xFiscal Year Deficit (in billions) Debt Deficit/GDP Events* r% m x+ f8 R/ |* P* d
1929 ($1) ($1) (0.7%) Market crash! `! w( g+ x1 l; Z# ?
1930 ($1) ($1) (0.8%) Smoot-Hawley, {2 `4 e8 J. e4 }) L% j
1931 $0 $1 0.6% Dust Bowl8 ?. n+ T) D0 S1 f* A
1932 $3 $3 4.5% Hoover tax hike
; M3 ?' F; w* K: z) H& |1933 $3 $3 4.5% FDR New Deal
7 \. Q0 q/ B/ j- @9 \) N: @1934 $4 $5 5.4% GDP up 10.8%, debt also rose
; e- a5 h3 ]; P$ R: C1935 $3 $2 3.8% Social Security3 \8 m6 H4 [, ]( H
1936 $4 $5 5.1% Tax hikes
( Q, A1 y9 y2 T8 R1937 $2 $3 2.4% Depression returned, third New Deal% |( Z6 [5 B' s. {
1938 $0 $1 0.1% Dust Bowl ended
r9 i) u* V( o- F7 w5 @3 K1939 $3 $3 3.0% Depression ended( X3 ~; I( V0 A! D/ P' @* [
1940 $3 $3 2.8% Defense increased
, ?1 t& k4 h+ a1 z- b0 k1941 $5 $6 3.8% Pearl Harbor
6 J4 t5 F7 y7 ]; _1942 $21 $23 12.3% Battle of Midway
! V3 k7 p6 ^' E# j0 h/ b/ @1943 $55 $64 26.9% Defense tripled
5 B/ ~+ E. O3 Z/ c2 j1944 $48 $64 21.2% Bretton Woods- S$ m, d# E+ G D9 P
1945 $48 $58 20.0% WWII ended
# ~% V, `! g! q: r9 ]* Z* W1946 $16 $11 7.0% Recession
+ `, o1 l0 m9 z# u% B1947 ($4) ($11) (1.6%) Cold War
" ?' r# s- ]' [" g6 b+ M/ v1948 ($12) ($6) (4.2%) Recession
0 ^: G5 x5 n5 e* C$ p1949 ($1) $0 (0.2%) Recession
; u, V2 [! O, W2 c1950 $3 $5 1.0% Korean War4 @9 [, V8 s. r! w+ B4 i
1951 ($6) ($2) (1.7%) Expansion
6 }' |+ x; ~2 j* T7 z0 F# O1952 $2 $4 0.4% Expansion
0 p3 {5 P& e* z4 v1953 $6 $7 1.7% Korean War ended, recession
; g1 l, R0 y+ F" W7 j% L; v# m1954 $1 $5 0.3% Recession, Eisenhower budgets. Y, p5 M$ E! ^6 Q2 S- [) m W9 }
1955 $3 $3 0.7% Expansion3 ~6 {6 w/ w) H6 e+ i' P1 q& Z
1956 ($4) ($2) (0.9%) Expansion
6 Q8 K3 y& s3 A' r; f1957 ($3) ($2) (0.7%) Recession& |) F' a7 H! N e! t& X, g
1958 $3 $6 0.6% Recession ended
- i! }0 U1 w3 ~( D* U# N1959 $13 $8 2.4% Fed raised rates
& P& F! }1 h8 k1960 $0 $2 (0.1%) Recession
! m H6 ?! ?! B' r* U; P1961 $3 $3 0.6% JFK & Bay of Pigs
# \% B2 i X; K# ]/ c. M1962 $7 $10 1.2% Cuban Missile Crisis
0 Z. x8 P9 w+ w. r1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed7 ~. {8 I0 g2 n( {
1964 $6 $6 0.9% LBJ War on Poverty1 R N9 n6 _5 r5 x' O5 k7 {% h' P
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
9 \- F' W$ t6 Z4 g* o" j1966 $4 $3 0.5%
( |! _! Y4 n4 I* w! P i; P1967 $9 $6 1.0% Expansion$ i3 w5 p) R* |7 y! u' s
1968 $25 $21 2.6% Moon landing
# | {' d8 {% B5 i7 D1 U7 M1969 ($3) $6 (0.3%) Nixon took office6 N5 J7 j, ?! T/ t. I" f
1970 $3 $17 0.3% Recession# P, U- I6 W0 h9 h* w( o: s/ U
1971 $23 $27 2.0% Wage-price controls/ t7 S# W/ h. ]8 c
1972 $23 $29 1.8% Stagflation
0 c3 U z2 O+ n; T. e' `) i1973 $15 $31 1.0% End of gold standard
$ A" P7 x" }& E4 c1974 $6 $17 0.4% Budget process created, Watergate/ v! C* v% a6 R
1975 $53 $58 3.1% Ford budget, Vietnam War ended
) {& B4 ^/ ^7 }8 w D" X, i1976 $74 $87 3.9% Stagflation8 O* T" s( c9 i1 N) f
1977 $54 $78 2.5% Stagflation
) g# l5 n5 ?8 |+ v# G; b" V- k1978 $59 $73 2.5% Carter budget, Recession
8 h! i& s; o% Z& g3 Z% h1979 $41 $55 1.5% Recession5 v8 X2 F7 q O7 o0 K4 D
1980 $74 $81 2.6% Volcker raised rates to 20%3 ?" a- l. K/ S" c
1981 $79 $90 2.4% Reagan tax cut5 h# v, }+ u; h- S( t `
1982 $128 $144 3.8% Reagan increased spending1 d9 p/ `0 n p4 n
1983 $208 $235 5.6% Jobless rate was 10.8%
6 Y8 E/ V$ O! Z1 K/ _$ I6 _5 G7 d1984 $185 $195 4.5% Increased defense spending
. K- A$ `) [: \# Z3 s+ V- c" E1985 $212 $256 4.8% Increased defense spending
- e% b& f6 {- T2 i/ }/ ]; ]1986 $221 $297 4.8% Tax cut8 n3 F( }+ M% b2 O; B
1987 $150 $225 3.1% Market crash
8 w) }' J6 C" q" h3 x' ~+ |1988 $155 $252 2.9% Fed raised rates
6 G0 N d N% w1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
& ]: N8 t- Z) X" p3 D" Z1990 $221 $376 3.7% Desert Storm8 d; d$ o5 u1 T) T( R4 j3 ]7 I
1991 $269 $432 4.3% Recession
. A/ ~" y+ l; @3 g$ X( s$ m1992 $290 $399 4.4% Expansion
$ t2 W4 Q& P( a1993 $255 $347 3.7% Clinton signed Budget Act# L$ m2 t2 S* D
1994 $203 $281 2.8% Clinton budget9 J0 K* U+ X( |6 K/ X _& b
1995 $164 $281 2.1% Expansion/ ~; h2 m, |1 Z `8 R7 P9 B+ M9 w
1996 $107 $251 1.3% Welfare reform3 ^& W+ R9 J" C
1997 $22 $188 0.3% Expansion
. n: l# [1 o/ x+ T, b6 e1998 ($69) $113 (0.8%) LTCM crisis, recession
: U; v8 d8 x1 I6 m1999 ($126) $130 (1.3%) Glass-Steagall repealed
; o6 V, s3 j- e& q" a2000 ($236) $18 (2.3%) Surplus
/ u: f: L1 B4 N1 H! o. A2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
! G2 \% G. |$ V+ a1 U5 _9 C8 t5 B2002 $158 $421 1.4% War on Terror
$ N, k, _$ f+ O- } F) f. |2003 $378 $555 3.3% JGTRRA! B, F" [5 z% x7 T8 ]# t+ f
2004 $413 $596 3.4% Iraq War% }' _" R7 J# @1 F& L
2005 $318 $554 2.4% Katrina, Bankruptcy Act/ U* A6 D; D1 X7 g2 L
2006 $248 $578 1.8% Bernanke chairs Fed
8 L) O9 l8 v* W! J: u" u6 K2007 $161 $501 1.1% Bank crisis% S1 H5 |1 |( K L8 Y# u
2008 $459 $1,017 3.1% Bank bailout, QE) t1 J# S" N9 L( d9 z
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B7 I! k2 M$ P9 u
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles `+ [; o/ u$ R9 S5 r2 A R9 f
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue, t2 I( `. `. ~7 ]: _4 j
2012 $1,087 $1,276 6.7% Fiscal cliff$ _/ B4 r; D. j1 E8 t/ M
2013 $679 $672 4.0% Sequester, government shutdown
% c2 H$ F# j! J4 f1 H/ v2014 $485 $1,086 2.7% Debt ceiling1 ]; t4 O: K0 B6 B9 S. [ [
2015 $438 $327 2.4% Defense = $736.4B, w. o5 |+ D8 V4 d8 E
2016 $585 $1,423 3.1% Defense = $767.6B
2 { t0 F/ @% Q2 H& M2017 $665 $672 3.4% Defense = $817.9B
. W x: p+ S5 w$ K$ T2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts" g: Q, Z0 G6 v- w6 c. i% W
2019 $1,091 $1,314 NA Defense = $956.5B
) S: s7 L4 c' S' ^0 c2020 $1,101 $1,281 NA Defense = $989B
3 [- Z" Z9 y! V- i/ |! ~2021 $1,068 $1,276 NA NA$ Q3 x, r5 |0 X8 H- S G! G
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