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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion. / G% u* a5 h9 X
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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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' o: W" y3 B( l; I3 S* a( K4 QThe 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.
' x3 g+ F+ s. R6 R% x/ ?* o 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2 ]" z+ J+ J' g( D( y4 }. ~
) d# I% \8 K* TFiscal Year Deficit (in billions) Debt Deficit/GDP Events' j7 e3 Y8 Y! w1 E! Z# b
1929 ($1) ($1) (0.7%) Market crash8 u; f2 y3 q; l
1930 ($1) ($1) (0.8%) Smoot-Hawley3 @5 l) E# Y/ z8 ^
1931 $0 $1 0.6% Dust Bowl" c* ~; f2 ^3 T1 ^- V7 t$ c
1932 $3 $3 4.5% Hoover tax hike& y& W8 A( o8 P* V
1933 $3 $3 4.5% FDR New Deal% Q8 M! y9 t0 y( \5 {) B
1934 $4 $5 5.4% GDP up 10.8%, debt also rose. A4 `5 N8 }7 ~. J$ m
1935 $3 $2 3.8% Social Security
3 m3 R4 N" F' }1936 $4 $5 5.1% Tax hikes+ W$ V3 ?* d5 L3 p+ h3 p% x3 L
1937 $2 $3 2.4% Depression returned, third New Deal; d' V+ p3 N/ G- v
1938 $0 $1 0.1% Dust Bowl ended' d# @1 u0 ]" O# x' \) E. A% O
1939 $3 $3 3.0% Depression ended
- W: k4 a6 i* ?1940 $3 $3 2.8% Defense increased
; q: X, g& Z; R W5 [1941 $5 $6 3.8% Pearl Harbor
% s+ u& O5 o9 i) g# A z: J' b0 S+ l1942 $21 $23 12.3% Battle of Midway9 j/ ~, ^+ b" X P9 k* I
1943 $55 $64 26.9% Defense tripled
& D: `. m9 v0 J1 w+ x* T1944 $48 $64 21.2% Bretton Woods
4 z3 F0 o) W" N$ O7 F( g) J1945 $48 $58 20.0% WWII ended9 }* I3 p) ]* m) V5 E2 h
1946 $16 $11 7.0% Recession
/ x/ s7 J& B/ Y& Y" ? d1947 ($4) ($11) (1.6%) Cold War
8 W4 a" G# v5 X1948 ($12) ($6) (4.2%) Recession
) @2 e" M4 w* |+ b, w/ \, ^# y1949 ($1) $0 (0.2%) Recession
! s/ { F, P B7 Y! x1950 $3 $5 1.0% Korean War5 U! c3 E. [+ I* I6 o& U. j' o
1951 ($6) ($2) (1.7%) Expansion+ S8 n+ K1 x# o9 ~9 n1 g3 h
1952 $2 $4 0.4% Expansion
' C7 j, q9 l; ^9 Q1953 $6 $7 1.7% Korean War ended, recession
/ p- P9 e5 t; b1954 $1 $5 0.3% Recession, Eisenhower budgets
! B8 J7 k/ @+ f: @/ j- d1955 $3 $3 0.7% Expansion0 x( F, x' I4 w" B
1956 ($4) ($2) (0.9%) Expansion
/ R1 ^5 D1 x6 G0 D. b1 Q, u1957 ($3) ($2) (0.7%) Recession
, ^: m+ |. i* x9 ~7 _# x6 J1958 $3 $6 0.6% Recession ended# m9 w! Z: [' P, \/ Z! K
1959 $13 $8 2.4% Fed raised rates% ?: c( B3 O M8 s4 R) x D' u
1960 $0 $2 (0.1%) Recession+ m9 V( c) ?7 {$ P$ D! H6 T
1961 $3 $3 0.6% JFK & Bay of Pigs
5 b8 N; P3 z2 N0 Y7 T. y! H1962 $7 $10 1.2% Cuban Missile Crisis
/ ?* D8 [6 s4 X. R( T- v( C" P1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed. x$ K0 N1 j4 A' t
1964 $6 $6 0.9% LBJ War on Poverty8 N9 q; g9 b- z, c5 m6 R) u D
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
0 t2 @ S2 S1 r3 o1966 $4 $3 0.5% ' ^( v, x4 A& Z7 t' q! r
1967 $9 $6 1.0% Expansion
# W. D6 ? Q/ E5 i1968 $25 $21 2.6% Moon landing
4 y* ?% B0 h* [# |0 J: ~1969 ($3) $6 (0.3%) Nixon took office
2 ]% c g$ g0 Z0 U/ n1970 $3 $17 0.3% Recession
# k8 G2 _4 Z9 }! R. @- A1971 $23 $27 2.0% Wage-price controls! `( W r5 g4 F, P9 ]2 M
1972 $23 $29 1.8% Stagflation* L. o' e: x8 Y6 i- _3 C$ o
1973 $15 $31 1.0% End of gold standard) ^% Z$ J E+ O2 U4 r8 s2 F
1974 $6 $17 0.4% Budget process created, Watergate! u, r/ g' k1 T3 i, R9 O8 f
1975 $53 $58 3.1% Ford budget, Vietnam War ended
. ^9 @3 U- |# T' H/ l; p6 Y8 X5 I1976 $74 $87 3.9% Stagflation
) z. k0 q% K& x/ M( S9 O. l# ?1977 $54 $78 2.5% Stagflation
% s f# j7 A4 k/ I7 ?' V1978 $59 $73 2.5% Carter budget, Recession
4 Z1 n0 T1 U' Y1979 $41 $55 1.5% Recession$ e/ L# @ K( L9 O, e
1980 $74 $81 2.6% Volcker raised rates to 20%
3 j. h& E& F2 B* k7 c1981 $79 $90 2.4% Reagan tax cut
' }- x+ b) J: c1 b! C- d4 ?1982 $128 $144 3.8% Reagan increased spending
! n4 S/ \; x4 [2 o+ s9 ^1983 $208 $235 5.6% Jobless rate was 10.8%
- @: G. y) f, G' r$ W4 y1984 $185 $195 4.5% Increased defense spending
) T' ]" v: {* c# l- k; N5 m6 y1985 $212 $256 4.8% Increased defense spending- ?: D q, ?3 m( U* I
1986 $221 $297 4.8% Tax cut
; i+ N3 ]" M2 X0 G1987 $150 $225 3.1% Market crash. `. Q8 w n: q% I! [# P7 N
1988 $155 $252 2.9% Fed raised rates! U) n" J( k! a& Y @ m# T
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget- G q1 R6 ^: [8 P! K5 L- Y& I* n; |
1990 $221 $376 3.7% Desert Storm
3 P2 _ F" W! y, Y6 \$ h: z1991 $269 $432 4.3% Recession5 Q9 I$ O1 }! w M6 R+ G9 e
1992 $290 $399 4.4% Expansion' e+ `5 H; y& J }; l# Y! U
1993 $255 $347 3.7% Clinton signed Budget Act2 V2 i+ a6 A5 M u
1994 $203 $281 2.8% Clinton budget
4 n5 `8 r& t& C6 m" Z6 @# w, |1995 $164 $281 2.1% Expansion
0 i, c4 g, C# V. m; h0 n1996 $107 $251 1.3% Welfare reform
5 d/ Z/ \/ [. C1 e) Y1997 $22 $188 0.3% Expansion: ~$ S% `% U: ~, ?! o
1998 ($69) $113 (0.8%) LTCM crisis, recession
4 c- D! n# p& T, Q) {1999 ($126) $130 (1.3%) Glass-Steagall repealed
5 v4 j' S; }: E% c- D- ?2000 ($236) $18 (2.3%) Surplus' T Q. i% s2 a9 Z, D, W
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA7 M2 o1 ?2 |: |, a
2002 $158 $421 1.4% War on Terror
# z, ~2 T1 @3 [ z* Q2003 $378 $555 3.3% JGTRRA b! h+ F* a/ I4 h+ k) x4 ~" s/ H
2004 $413 $596 3.4% Iraq War7 D j- C6 |( d' E7 k' A
2005 $318 $554 2.4% Katrina, Bankruptcy Act
' F+ f$ p: ^ B) a2 e i( Q2006 $248 $578 1.8% Bernanke chairs Fed: y' C- X0 ~: r$ a$ K% P
2007 $161 $501 1.1% Bank crisis2 k! n! F8 s5 P2 }7 a6 F6 y% i
2008 $459 $1,017 3.1% Bank bailout, QE7 k5 ?. N) B( _/ e) W3 o: p. v% l
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
( Q1 G& K9 e: n- }7 b; z$ M2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles' Z8 g& i+ l7 d9 X) a; ~% z
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
8 M6 x b8 [4 w$ l! D; r! W; I2012 $1,087 $1,276 6.7% Fiscal cliff2 h( e: R; }0 U3 e* v$ K
2013 $679 $672 4.0% Sequester, government shutdown
: ?' [: Q; i( E b. J2014 $485 $1,086 2.7% Debt ceiling
& _" N: s* {+ M3 Y) i4 I: q, D2015 $438 $327 2.4% Defense = $736.4B7 Z- p- U2 r: L; g
2016 $585 $1,423 3.1% Defense = $767.6B
$ z6 b* M% A# F2017 $665 $672 3.4% Defense = $817.9B' t5 @; N# b/ v, b
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
3 t, o2 e0 {: K2019 $1,091 $1,314 NA Defense = $956.5B5 N m0 x0 d, \+ f$ E
2020 $1,101 $1,281 NA Defense = $989B% E% A( Y, O" O6 B$ B0 B6 _
2021 $1,068 $1,276 NA NA
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