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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion. ! `) M$ T5 v; L
, V7 M) | X6 T1 ~2020财年美国预算赤字预计为1.1万亿美元3 N) x8 b. d4 F g, E0 |
* g0 J9 m) i5 ~5 e# a8 u1 Q- BThe 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.
( u: j; S* c; h: i4 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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Fiscal Year Deficit (in billions) Debt Deficit/GDP Events
) G) x: W) u, {1929 ($1) ($1) (0.7%) Market crash& A6 z9 T: V2 n p' a; }
1930 ($1) ($1) (0.8%) Smoot-Hawley
, U$ W; d6 A; Q4 K) p8 y1931 $0 $1 0.6% Dust Bowl' @& s1 A/ @: s
1932 $3 $3 4.5% Hoover tax hike
( o3 x x2 q$ S8 Z/ C1933 $3 $3 4.5% FDR New Deal
/ x) i! R' |2 }3 f, T) d" a1934 $4 $5 5.4% GDP up 10.8%, debt also rose+ z+ `; T5 j8 y" Q( D
1935 $3 $2 3.8% Social Security
0 ^# t3 k: l& @& p* D& |! R2 F1936 $4 $5 5.1% Tax hikes
/ k0 F) R: e' ? @8 r3 m# l4 S$ K& }1937 $2 $3 2.4% Depression returned, third New Deal/ t* D" j( n& m
1938 $0 $1 0.1% Dust Bowl ended8 Q# b/ |; g6 W: V7 x4 ~8 {
1939 $3 $3 3.0% Depression ended
3 u! O; N7 u/ Y$ h( ]1940 $3 $3 2.8% Defense increased; p6 {6 k3 R5 R$ U
1941 $5 $6 3.8% Pearl Harbor/ h! m i! G4 ]" V' \' M& ]
1942 $21 $23 12.3% Battle of Midway+ Y+ V" V1 P2 U+ w9 S; G1 B1 |
1943 $55 $64 26.9% Defense tripled3 C6 \9 K8 S2 r0 L m+ q' a
1944 $48 $64 21.2% Bretton Woods" {) S) `. r: G
1945 $48 $58 20.0% WWII ended
, V T; A+ y" t% y% t- w1946 $16 $11 7.0% Recession
% k$ H6 n, r w4 q5 a7 F1947 ($4) ($11) (1.6%) Cold War4 d/ t9 ?5 E6 {4 M4 ?% f3 G
1948 ($12) ($6) (4.2%) Recession2 L, w; d) Q# r4 [
1949 ($1) $0 (0.2%) Recession
- D7 u; B% h, q) V2 @1950 $3 $5 1.0% Korean War W' E/ s* z$ w8 q3 S
1951 ($6) ($2) (1.7%) Expansion: ]! r6 F. i. x. x/ {! x3 P, n
1952 $2 $4 0.4% Expansion
: N$ I2 L6 _8 W' g3 g* {" S0 M1953 $6 $7 1.7% Korean War ended, recession* t. R5 X% S9 w/ H( m5 A/ x% b6 @
1954 $1 $5 0.3% Recession, Eisenhower budgets3 X) P7 l9 I. U( X- s
1955 $3 $3 0.7% Expansion
+ n/ ~, N, w Y3 \# R+ P1956 ($4) ($2) (0.9%) Expansion+ y1 Z% e! A" u, |! Y
1957 ($3) ($2) (0.7%) Recession/ Z6 X4 e7 E* X6 j2 h
1958 $3 $6 0.6% Recession ended8 A$ v% K4 X6 K. m% b
1959 $13 $8 2.4% Fed raised rates5 _5 a7 U( p& L, F
1960 $0 $2 (0.1%) Recession! }9 N6 ]" S# e0 @) Y
1961 $3 $3 0.6% JFK & Bay of Pigs5 `& u; z0 ?' s: P! `
1962 $7 $10 1.2% Cuban Missile Crisis
& ]+ H2 e: o/ K7 s7 U1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed( K l2 {. N, Z# C( F' C# V4 o
1964 $6 $6 0.9% LBJ War on Poverty
* @9 ?) \1 u* e" W. J6 I' Q1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
3 n; a) n; S* x6 v8 d1966 $4 $3 0.5%
) i. R/ S* q/ E" t! m1967 $9 $6 1.0% Expansion
" x& V5 Z& O P8 D, u# I3 O0 b) ?1968 $25 $21 2.6% Moon landing h3 P# K- b: g0 G8 y
1969 ($3) $6 (0.3%) Nixon took office
& r, V0 q) ^; M1970 $3 $17 0.3% Recession! \1 w1 B( D, G* j* Z
1971 $23 $27 2.0% Wage-price controls/ z e' Y" b7 P1 b* [/ E" K
1972 $23 $29 1.8% Stagflation
4 [# n; I% y' q- P1973 $15 $31 1.0% End of gold standard
2 z. Q9 g: i9 @1974 $6 $17 0.4% Budget process created, Watergate2 l: L8 k7 S. c. Y' a4 k1 {. N
1975 $53 $58 3.1% Ford budget, Vietnam War ended* o5 S0 p, b/ G, J) x9 s( _
1976 $74 $87 3.9% Stagflation
' ?0 Y' T+ x" A+ d* `+ h1977 $54 $78 2.5% Stagflation
1 p$ N5 C: d( I" E. ]" Y1978 $59 $73 2.5% Carter budget, Recession
: u& Y# M! ~7 m* Y- F# ~$ V1979 $41 $55 1.5% Recession
, d( {+ b" p( i1980 $74 $81 2.6% Volcker raised rates to 20%% A7 s# W+ H. S' y3 o
1981 $79 $90 2.4% Reagan tax cut7 ]% q0 _+ u' \' U
1982 $128 $144 3.8% Reagan increased spending
6 @5 w. p1 c4 Z1 L1983 $208 $235 5.6% Jobless rate was 10.8%
4 T: i" l* v1 `7 Y' k8 L1984 $185 $195 4.5% Increased defense spending
1 ?6 D$ A, U% a' y1985 $212 $256 4.8% Increased defense spending( s# ]4 \$ G* k1 G/ I
1986 $221 $297 4.8% Tax cut
" P/ u4 @0 y. ?1987 $150 $225 3.1% Market crash
: b. R ?* p$ x2 I' y# c5 s1988 $155 $252 2.9% Fed raised rates
3 p4 z/ y6 n7 l. g1989 $153 $255 2.7% S&L Crisis, Bush 41 budget/ S5 L0 k+ I) o$ S6 x" m+ n3 H& T
1990 $221 $376 3.7% Desert Storm9 v3 I) v5 N3 ]
1991 $269 $432 4.3% Recession, `' y8 [$ q0 m4 [9 _: j2 O" v
1992 $290 $399 4.4% Expansion$ W, z. d: x2 F' I S! }0 w
1993 $255 $347 3.7% Clinton signed Budget Act% V# G w- X0 h6 L% K. v* D
1994 $203 $281 2.8% Clinton budget1 L; Z. y' ]1 V6 P$ ]6 B4 J2 _
1995 $164 $281 2.1% Expansion6 V5 k, B/ A) w0 k- c! k: V
1996 $107 $251 1.3% Welfare reform
& i3 h2 A& Y3 O1997 $22 $188 0.3% Expansion
& w1 P n+ t1 A7 M. P. g8 u1998 ($69) $113 (0.8%) LTCM crisis, recession
2 N1 C _. [& S z. E( j+ T1999 ($126) $130 (1.3%) Glass-Steagall repealed5 u; F5 A- y0 n* L% I
2000 ($236) $18 (2.3%) Surplus
) s: Z# ]. z0 I9 C+ r2 G0 }2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA; S- {6 J t+ ]+ Y# O" I
2002 $158 $421 1.4% War on Terror
' g4 {- J3 L, K/ S- w: A2003 $378 $555 3.3% JGTRRA
& F1 H1 E w6 P2004 $413 $596 3.4% Iraq War
; y; b5 J$ }4 r2 R f$ p, p2005 $318 $554 2.4% Katrina, Bankruptcy Act
f. S% T2 J# p2006 $248 $578 1.8% Bernanke chairs Fed( z& A% z% E7 g
2007 $161 $501 1.1% Bank crisis* v7 e: W3 ]' Q/ h. E# i% K
2008 $459 $1,017 3.1% Bank bailout, QE" |4 @1 m2 o3 f7 x" {! f$ a R! s
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
" |3 i. X( u: D2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles- U4 D( e7 K3 \/ Y
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
* I: F4 q5 {2 K; W& y6 m4 w1 g6 h2012 $1,087 $1,276 6.7% Fiscal cliff, R9 u' y. K5 G/ {- c; ^
2013 $679 $672 4.0% Sequester, government shutdown
' c0 ]* [# D1 q# e/ J! R2 `2014 $485 $1,086 2.7% Debt ceiling
5 |! {- ~' j7 |5 X: v5 q7 G( G# j2015 $438 $327 2.4% Defense = $736.4B! T3 _3 t8 y+ A
2016 $585 $1,423 3.1% Defense = $767.6B2 N" u( z$ Y8 }' A
2017 $665 $672 3.4% Defense = $817.9B' l& c( e& c& I- g
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
' r% W+ W) L% f9 g2019 $1,091 $1,314 NA Defense = $956.5B
9 D( d8 @. J- C& Y' c! ?2020 $1,101 $1,281 NA Defense = $989B
2 {: `0 |% d0 W: f0 b9 v2021 $1,068 $1,276 NA NA# L% g/ r2 ?* U; T- Y) M
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