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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion. + n5 Y% _% _" [0 b3 y. n/ X
) P+ I% Y* d* ] V2 z* U. d$ z2020财年美国预算赤字预计为1.1万亿美元' `; ^6 }6 y1 C! [, ?8 w
3 ~/ Q; \& `% r: ^+ n( H* ^9 ?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.
% I( A/ m- w- ^$ @7 N8 L 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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1 h2 I# N7 F7 f: w$ PFiscal Year Deficit (in billions) Debt Deficit/GDP Events
0 s1 I( b8 d7 J5 A1929 ($1) ($1) (0.7%) Market crash
) K- R" |% j! _4 `3 V6 B/ i: {0 c9 M1930 ($1) ($1) (0.8%) Smoot-Hawley$ h3 e3 M+ N) }, W1 u2 h4 H
1931 $0 $1 0.6% Dust Bowl
6 J% l1 ~. J, z2 {0 r6 ?1932 $3 $3 4.5% Hoover tax hike7 @* I% ?! [8 q, D4 @* s) ?0 n
1933 $3 $3 4.5% FDR New Deal
9 u& L; q- U5 i7 h# l( b1934 $4 $5 5.4% GDP up 10.8%, debt also rose
3 r& y" A: W& F u# [: n1935 $3 $2 3.8% Social Security8 j- v' P5 Q, {, C) V# }0 v
1936 $4 $5 5.1% Tax hikes
: Y5 C/ H& E$ r' v2 Y% }8 Z1937 $2 $3 2.4% Depression returned, third New Deal
4 Q2 G4 w* R1 ~2 k0 d1 r6 l6 Q1938 $0 $1 0.1% Dust Bowl ended
) B. ]( Y1 |( y+ }' D* {( s* H9 o1939 $3 $3 3.0% Depression ended
! V: y- O( v8 O' _' z2 P* m1940 $3 $3 2.8% Defense increased
' r- B6 p8 D s) ]# W' o* B4 @! x1941 $5 $6 3.8% Pearl Harbor
6 Q. B; |7 N7 p, ^+ |1942 $21 $23 12.3% Battle of Midway* B) c$ l$ f- F! h
1943 $55 $64 26.9% Defense tripled; ?' v f2 X% n8 A6 { B0 ^+ y
1944 $48 $64 21.2% Bretton Woods. c7 T2 U# x/ O! g: z
1945 $48 $58 20.0% WWII ended' U. U6 F, d2 D& \+ j5 Q
1946 $16 $11 7.0% Recession% d) N J+ X; O& a, U
1947 ($4) ($11) (1.6%) Cold War. D3 g* m: H7 b( P N. z
1948 ($12) ($6) (4.2%) Recession
6 F `9 }2 w% @1949 ($1) $0 (0.2%) Recession3 v% W7 a! ?7 _' L }" f
1950 $3 $5 1.0% Korean War
9 C8 W( [& ?: a3 l# n1951 ($6) ($2) (1.7%) Expansion: ^ {5 n) @' B+ z
1952 $2 $4 0.4% Expansion
9 {- d% @/ z- c7 y5 [1953 $6 $7 1.7% Korean War ended, recession
0 f( A% b: d! A* a J! ^1954 $1 $5 0.3% Recession, Eisenhower budgets/ W- S+ a8 Q: I. b
1955 $3 $3 0.7% Expansion
2 _! K- N( U: w+ {- P$ ^1956 ($4) ($2) (0.9%) Expansion
1 o& W, e8 Y. v4 @7 A% B; J" }1957 ($3) ($2) (0.7%) Recession- X: y2 }2 ~0 u) S$ }7 A) |
1958 $3 $6 0.6% Recession ended
( ^* H, Y9 z: w% ^+ ^9 i5 M7 F1959 $13 $8 2.4% Fed raised rates
' x0 ?" |0 ~$ s# S6 f1960 $0 $2 (0.1%) Recession$ N( U& e" \: f- N" V/ [( @$ b
1961 $3 $3 0.6% JFK & Bay of Pigs- `9 f# m- c" H
1962 $7 $10 1.2% Cuban Missile Crisis5 C8 |; m9 l( Y( z
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
8 @! w! s0 Y0 T8 T# J7 C X8 Q z1964 $6 $6 0.9% LBJ War on Poverty/ y' E$ u) u8 H4 i7 F6 S
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War9 ?" k5 r. x/ w# t
1966 $4 $3 0.5%
& ^4 v0 ^; L8 f$ V, F/ \5 _( c1967 $9 $6 1.0% Expansion9 R I* Z. i$ w: q& r
1968 $25 $21 2.6% Moon landing2 c; }* u' s: q
1969 ($3) $6 (0.3%) Nixon took office/ T. k4 |5 P: M0 F. _' V# H: {7 j+ n/ A
1970 $3 $17 0.3% Recession
3 k9 ~$ F& Z- h0 h" D7 H1971 $23 $27 2.0% Wage-price controls% I2 J2 C) Y! Y
1972 $23 $29 1.8% Stagflation
3 f& K. D7 ]9 f# |& ^0 j2 H, C1973 $15 $31 1.0% End of gold standard
: M' E. b! P4 j @: E9 h1974 $6 $17 0.4% Budget process created, Watergate
! @' S/ R" @- U6 Z% y6 o1975 $53 $58 3.1% Ford budget, Vietnam War ended7 P- ~. n3 j* Z1 N8 s/ K r. U
1976 $74 $87 3.9% Stagflation& H: j; R/ G3 b1 z0 ?8 I8 G; j9 V
1977 $54 $78 2.5% Stagflation
" V( t7 p7 v Y7 q! p( f8 y1978 $59 $73 2.5% Carter budget, Recession
/ }" d4 v. s; O/ s! Y. C1979 $41 $55 1.5% Recession
. { c* F6 p' o/ _1980 $74 $81 2.6% Volcker raised rates to 20%
1 I" V% r! c: h1981 $79 $90 2.4% Reagan tax cut- B% T# l* G6 t0 G" q% H2 ?& B
1982 $128 $144 3.8% Reagan increased spending! ?: k- ?' H) n# _# @. f) ?
1983 $208 $235 5.6% Jobless rate was 10.8%
& d- V% P M3 R$ Y" B2 K# Q2 b" c1984 $185 $195 4.5% Increased defense spending
0 E. M! o9 \7 z) L1985 $212 $256 4.8% Increased defense spending
6 b* a7 l* O U3 o: t( E! L1986 $221 $297 4.8% Tax cut
# u0 \# m& d- A" R: l7 n1987 $150 $225 3.1% Market crash% I: }9 Z* s4 \% J% v" ~ Q5 ^8 p
1988 $155 $252 2.9% Fed raised rates; i3 `7 ^, Y# n
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
$ I6 |: f) X0 Z' D0 t6 ]1990 $221 $376 3.7% Desert Storm# V, w! E' x* g. H- A
1991 $269 $432 4.3% Recession
3 r. O) p% a5 u% [5 W4 j1992 $290 $399 4.4% Expansion5 {) X6 u& M4 a3 f# _. }
1993 $255 $347 3.7% Clinton signed Budget Act
! q; r$ ^ I1 q% F+ b0 A1994 $203 $281 2.8% Clinton budget
4 m* g$ h; O1 X( y u) i% X" Z1995 $164 $281 2.1% Expansion
6 K# W- D' G5 j7 V4 q3 f1996 $107 $251 1.3% Welfare reform1 m! y, A2 b0 K7 B
1997 $22 $188 0.3% Expansion
' C( v- U! x3 F$ D5 s$ U) ^% M1998 ($69) $113 (0.8%) LTCM crisis, recession
6 c. c& l D2 f7 k1999 ($126) $130 (1.3%) Glass-Steagall repealed0 N6 X% w/ [# d& O* V. `. q1 ~0 f
2000 ($236) $18 (2.3%) Surplus
0 J; \6 v( n9 ^- ?0 s7 T, D2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
: N& l/ q6 u6 ^# v1 Z; D5 o2002 $158 $421 1.4% War on Terror
* \( D9 `$ \1 }8 f9 J& a9 q/ y3 R2003 $378 $555 3.3% JGTRRA" C7 }" v1 D0 S4 D! ?3 T
2004 $413 $596 3.4% Iraq War/ l7 `( c6 `- X& i
2005 $318 $554 2.4% Katrina, Bankruptcy Act1 k9 }$ t# u1 s7 y& Y8 \# J3 L
2006 $248 $578 1.8% Bernanke chairs Fed( o5 g+ Q+ E- O7 Y0 }4 E1 k
2007 $161 $501 1.1% Bank crisis
1 `/ }0 [9 a8 I+ S5 V2008 $459 $1,017 3.1% Bank bailout, QE- u- E& M* J' [1 D# h3 q. q9 [
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
J4 h) C# L4 D3 a% i% S8 V2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
2 b4 Q- S3 o# R5 m2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
% g7 t. N8 D5 k2012 $1,087 $1,276 6.7% Fiscal cliff
! w, b3 c8 J S+ U% O( l2013 $679 $672 4.0% Sequester, government shutdown: ~: m$ A# Y& R5 A1 ^9 }/ g7 ?" @( B
2014 $485 $1,086 2.7% Debt ceiling H; S4 W: }. J& ]/ H0 c0 R
2015 $438 $327 2.4% Defense = $736.4B
: t8 a; v& H) j8 ^" h) A: t+ T4 s2016 $585 $1,423 3.1% Defense = $767.6B
4 t- @- C+ v& ]0 p9 ^- }2017 $665 $672 3.4% Defense = $817.9B1 D" t: S$ G9 Y. C' W; T9 Z
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
% x4 |, q5 x' b3 }6 k* F8 \3 W2019 $1,091 $1,314 NA Defense = $956.5B
" V: [% t0 _) t0 O% [7 ~# H2020 $1,101 $1,281 NA Defense = $989B
$ f; z8 ?/ y8 z/ l+ K( D8 W2021 $1,068 $1,276 NA NA
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