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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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B) Q$ L3 m1 |1 S' m2020财年美国预算赤字预计为1.1万亿美元
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9 ~8 g$ \+ Y1 L' Y4 iThe 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.
( q% \8 p4 k, E& u) c* 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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& e' b( m0 M, O! D4 s# FFiscal Year Deficit (in billions) Debt Deficit/GDP Events' N8 p7 p3 }9 }; R, n6 x' |
1929 ($1) ($1) (0.7%) Market crash
: G/ y9 z4 V3 g! R+ L5 ~1930 ($1) ($1) (0.8%) Smoot-Hawley* ^5 f1 q. _1 v5 s+ v) X1 i
1931 $0 $1 0.6% Dust Bowl
0 a3 k _8 k" U; c) p. s ], w1932 $3 $3 4.5% Hoover tax hike- t# f, C* p' Q" ?1 s: i/ Z3 F
1933 $3 $3 4.5% FDR New Deal3 X. t6 ` g0 c' s6 x1 H
1934 $4 $5 5.4% GDP up 10.8%, debt also rose- f w0 f1 y/ r# T
1935 $3 $2 3.8% Social Security6 G9 S8 ^. F6 I
1936 $4 $5 5.1% Tax hikes* y5 N' G* p8 o1 s$ U2 p0 H9 p% |9 l
1937 $2 $3 2.4% Depression returned, third New Deal
& H+ `! [- ]! S3 x+ V* `' a1938 $0 $1 0.1% Dust Bowl ended" m$ W$ P3 E& I
1939 $3 $3 3.0% Depression ended( i C: w7 M6 r
1940 $3 $3 2.8% Defense increased2 o8 f2 d( ?" ^& P- t! Q
1941 $5 $6 3.8% Pearl Harbor7 {' [6 j* g3 _1 G3 h# D) G4 q
1942 $21 $23 12.3% Battle of Midway. v/ Y6 R7 i" \. g
1943 $55 $64 26.9% Defense tripled
; p' t/ O9 ?: {5 g6 {* ^1944 $48 $64 21.2% Bretton Woods" Y8 K' C1 Q' Y$ s- B* X4 {
1945 $48 $58 20.0% WWII ended0 I! i* b w' a- Q
1946 $16 $11 7.0% Recession) w* ~7 X2 ]$ \0 y: J1 s
1947 ($4) ($11) (1.6%) Cold War6 @/ k9 f# r* s1 f( D+ P$ g% l1 ~/ }
1948 ($12) ($6) (4.2%) Recession. r O& H: H; `0 S
1949 ($1) $0 (0.2%) Recession7 j, W- }: S) ^: @7 d; F% j$ c f3 M
1950 $3 $5 1.0% Korean War2 `2 }1 b' H3 P1 D
1951 ($6) ($2) (1.7%) Expansion& `0 q2 C1 F$ J3 @2 x8 q/ r5 h
1952 $2 $4 0.4% Expansion2 r) ]& {9 x7 L
1953 $6 $7 1.7% Korean War ended, recession C# v- G! M! n
1954 $1 $5 0.3% Recession, Eisenhower budgets o9 V- t) S! q+ H3 s. U9 f
1955 $3 $3 0.7% Expansion
2 C( k6 D6 x, o: G" B* j9 _1956 ($4) ($2) (0.9%) Expansion: J; \% ~6 v$ h2 R. T, k
1957 ($3) ($2) (0.7%) Recession" ?3 _/ E+ A! H+ q3 T7 L
1958 $3 $6 0.6% Recession ended8 g3 i3 `9 K4 g7 m/ v' [
1959 $13 $8 2.4% Fed raised rates5 x" g1 ]# m: K1 ]6 B
1960 $0 $2 (0.1%) Recession' Y( r! ]' x& R Q( _3 e( y
1961 $3 $3 0.6% JFK & Bay of Pigs( e9 m5 d0 \3 Z. C
1962 $7 $10 1.2% Cuban Missile Crisis- ]$ K) b$ C; Z- h9 o
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed6 r! C! t- E4 i9 t I6 A
1964 $6 $6 0.9% LBJ War on Poverty* \+ b0 o2 k0 [
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
: ]8 i, D7 R! Q; D, j% Q1966 $4 $3 0.5% 1 N/ n& x i! U3 t
1967 $9 $6 1.0% Expansion
- k/ n3 g+ i2 ~1968 $25 $21 2.6% Moon landing
$ Z- U& G0 a8 t3 `& t1969 ($3) $6 (0.3%) Nixon took office9 \4 v8 d) K6 J! c% [1 @
1970 $3 $17 0.3% Recession* r+ S4 l2 G8 j3 X
1971 $23 $27 2.0% Wage-price controls
) Y b4 f) x1 h" \# X! j, M* R- L1972 $23 $29 1.8% Stagflation
8 @7 T9 F- I7 g6 u" c1973 $15 $31 1.0% End of gold standard4 S7 t' x7 @5 Q% ?# Z
1974 $6 $17 0.4% Budget process created, Watergate
, }% Q6 S2 |9 C( ~* D1975 $53 $58 3.1% Ford budget, Vietnam War ended
' n, Q N! C9 {& b1976 $74 $87 3.9% Stagflation1 X! I" Z; O7 `, n4 e
1977 $54 $78 2.5% Stagflation8 p2 l. N Q. \+ W
1978 $59 $73 2.5% Carter budget, Recession/ J9 ~- N6 ~ Z* ^1 W7 t( O7 \
1979 $41 $55 1.5% Recession
: q& F4 s$ C4 _$ g, k1 ?: k3 F/ i1980 $74 $81 2.6% Volcker raised rates to 20%
8 b* g9 V7 ]9 }2 c% Z( z1981 $79 $90 2.4% Reagan tax cut
q* K# A& n. W' @( i1982 $128 $144 3.8% Reagan increased spending
- z2 Y1 G" H6 }' M' m* ~1983 $208 $235 5.6% Jobless rate was 10.8%
: n$ j9 |9 J2 g' ?1 Q7 i+ ~5 ^1984 $185 $195 4.5% Increased defense spending/ t* F9 j& ?4 \% B0 v1 n+ j
1985 $212 $256 4.8% Increased defense spending
* Y# u1 h* H! T |' l8 ?1986 $221 $297 4.8% Tax cut2 c3 \* w$ L- X, X0 o* }8 ^. L. ~
1987 $150 $225 3.1% Market crash0 L# w, U8 f% {9 g2 q9 r
1988 $155 $252 2.9% Fed raised rates% z& v E) O! p" N! _) p, ]2 y
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
, ]& R/ _2 u4 H( x+ C1990 $221 $376 3.7% Desert Storm
/ D1 e- l" X7 e( h9 U' h9 L# q1991 $269 $432 4.3% Recession
) d: l$ W/ B2 N* }. e1992 $290 $399 4.4% Expansion4 P* P4 b% L) b0 ^3 o. g
1993 $255 $347 3.7% Clinton signed Budget Act
) P. |7 K- h4 v4 T3 y- e% t1994 $203 $281 2.8% Clinton budget
# G$ _0 K' z. }+ }7 [6 I1995 $164 $281 2.1% Expansion8 e2 U' W4 J$ x9 l0 C9 g
1996 $107 $251 1.3% Welfare reform
4 F7 \0 n q) a, Z: M1997 $22 $188 0.3% Expansion
, x- @) P, v! h1998 ($69) $113 (0.8%) LTCM crisis, recession& m: X( X# D0 a. d8 j6 s% M2 `) y
1999 ($126) $130 (1.3%) Glass-Steagall repealed4 K2 U6 O) [* @
2000 ($236) $18 (2.3%) Surplus d! B; i. ?" ?$ C' ~' y& b
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
7 p5 [0 G3 `6 [1 i" w# Y6 ^/ l2002 $158 $421 1.4% War on Terror
# |6 C/ \& H) [8 x2 D% ?2003 $378 $555 3.3% JGTRRA
: G# J$ P4 g: r" U( n0 M& I" g2004 $413 $596 3.4% Iraq War; V# N' r/ X5 j6 A0 B
2005 $318 $554 2.4% Katrina, Bankruptcy Act
* d1 v% H% w7 ^; l, m, E: E2006 $248 $578 1.8% Bernanke chairs Fed
# m8 s0 ^0 {9 y2007 $161 $501 1.1% Bank crisis- a1 p8 a; n- `+ C% o; m/ p) g
2008 $459 $1,017 3.1% Bank bailout, QE( T7 r y. b1 O Y0 I
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B$ e) V/ X' y8 A
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
5 H# q9 P! |5 B. ^' d- t2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
1 g: R8 i3 [% m Y" j& o2012 $1,087 $1,276 6.7% Fiscal cliff
; u+ w* a$ k3 G9 N) E0 V2013 $679 $672 4.0% Sequester, government shutdown
! e, P: l( h! k# _2014 $485 $1,086 2.7% Debt ceiling k8 R: n- I# b" W( _
2015 $438 $327 2.4% Defense = $736.4B1 q5 I- k. W, G: w4 i+ [
2016 $585 $1,423 3.1% Defense = $767.6B# q# P e" v* o4 o! E2 l z
2017 $665 $672 3.4% Defense = $817.9B2 a1 F- n5 w/ e" h
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts# {6 I3 p; m6 f5 D" z6 S) x" y
2019 $1,091 $1,314 NA Defense = $956.5B/ h2 R# v p- W _9 ?/ A$ J7 M' m
2020 $1,101 $1,281 NA Defense = $989B
! o- Y+ s; c& E1 ^9 K2021 $1,068 $1,276 NA NA) N5 }7 Q1 B& } ^7 t6 M
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