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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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2020财年美国预算赤字预计为1.1万亿美元
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The first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.8 z. j2 j4 I" {$ {" ?/ @
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" Z& [! z/ H( P- G- e& ~- \" d
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Fiscal Year Deficit (in billions) Debt Deficit/GDP Events
8 Y* E7 M, B6 V7 r1929 ($1) ($1) (0.7%) Market crash
; B6 b, ~% N2 X8 H1930 ($1) ($1) (0.8%) Smoot-Hawley. J- n+ U- d/ z$ A5 `8 X% H
1931 $0 $1 0.6% Dust Bowl( g; e, n0 Q( U' k; B9 j7 C
1932 $3 $3 4.5% Hoover tax hike- P* w, Y9 U! n) n# R
1933 $3 $3 4.5% FDR New Deal
4 b: W7 p. [! y: x+ O0 R1934 $4 $5 5.4% GDP up 10.8%, debt also rose
+ Y: o, J" j- h8 N+ ^! Y1935 $3 $2 3.8% Social Security
& g! p1 _+ w. Z9 L" X0 R1936 $4 $5 5.1% Tax hikes( {1 g% m1 D+ }7 K
1937 $2 $3 2.4% Depression returned, third New Deal* `0 V) m/ R$ Y, }* r! k% Q2 d
1938 $0 $1 0.1% Dust Bowl ended
& ?( ]3 n6 O. K6 x$ y1939 $3 $3 3.0% Depression ended
: T: e- n, Q4 x }1940 $3 $3 2.8% Defense increased
1 p3 F* g z# S" P+ I1941 $5 $6 3.8% Pearl Harbor
3 D7 B y' c! T! I; v1942 $21 $23 12.3% Battle of Midway
4 c' ? `2 v" c6 ?: _' ~1943 $55 $64 26.9% Defense tripled
4 B* U) C% f, W0 a. g; i1944 $48 $64 21.2% Bretton Woods
+ g3 J5 |) Q4 D1945 $48 $58 20.0% WWII ended Y! `! m! d& E6 r0 _
1946 $16 $11 7.0% Recession
2 J$ M; U7 J- Z% @6 E1947 ($4) ($11) (1.6%) Cold War
4 p! g, `4 o; h7 H2 i1948 ($12) ($6) (4.2%) Recession
- C2 y* m2 U4 L* W) |1 a1949 ($1) $0 (0.2%) Recession
( c# y" X# s9 I8 r1950 $3 $5 1.0% Korean War3 `# j4 o5 h' a1 @7 W% \
1951 ($6) ($2) (1.7%) Expansion/ T5 P9 L/ m- N* o- t
1952 $2 $4 0.4% Expansion
) x5 v; d& ^5 x$ u1953 $6 $7 1.7% Korean War ended, recession
" P1 n& d2 A' h* H0 E* x1954 $1 $5 0.3% Recession, Eisenhower budgets
3 T B- y. a$ A( |1955 $3 $3 0.7% Expansion* H! {7 C( _2 k+ U- L7 ]1 R
1956 ($4) ($2) (0.9%) Expansion1 B( s/ g e* V9 ^2 z: E
1957 ($3) ($2) (0.7%) Recession
$ ^+ x1 K' m. s% i1958 $3 $6 0.6% Recession ended
* D. T A* [5 c4 W1 d7 a" k1959 $13 $8 2.4% Fed raised rates
7 b/ c8 _' ]% y4 D1960 $0 $2 (0.1%) Recession0 v$ ]9 _4 W5 D6 l$ Q
1961 $3 $3 0.6% JFK & Bay of Pigs5 K+ ?8 S6 O1 u5 t
1962 $7 $10 1.2% Cuban Missile Crisis: F$ P8 f8 L: P1 Q4 d
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed/ |* _8 Z! z, j: [
1964 $6 $6 0.9% LBJ War on Poverty# C% V) X7 D( G/ z
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War$ A6 E; I+ | \. R7 A: K+ L
1966 $4 $3 0.5%
* h7 ^0 N2 H; y6 L, O2 o% I; g1967 $9 $6 1.0% Expansion3 ~# H! \! x: `0 T$ g. w7 a
1968 $25 $21 2.6% Moon landing
: N! _8 W3 k! J! h+ Q! t1969 ($3) $6 (0.3%) Nixon took office; g( I1 Z- Y$ ?; h7 d6 U$ {
1970 $3 $17 0.3% Recession C$ S2 z% u# U0 T: m0 ~
1971 $23 $27 2.0% Wage-price controls$ s$ e! q" k/ [) K
1972 $23 $29 1.8% Stagflation- c' p! D- \, ?" [5 ]; u, M/ m9 p
1973 $15 $31 1.0% End of gold standard
1 c% y k3 M6 b. [" J1974 $6 $17 0.4% Budget process created, Watergate C: |1 _4 y" h$ T4 D" T
1975 $53 $58 3.1% Ford budget, Vietnam War ended
1 O# ~* m2 |3 C; X- [1976 $74 $87 3.9% Stagflation
5 ^6 g' q9 J5 |. }1 i1977 $54 $78 2.5% Stagflation
" w3 `2 a' d T$ P2 O: f1978 $59 $73 2.5% Carter budget, Recession
. q8 O" n) P0 `1 q! C3 u- W( b1979 $41 $55 1.5% Recession, q+ F' A( s# l" v0 i7 `* t0 W8 b
1980 $74 $81 2.6% Volcker raised rates to 20%
1 y* g5 t, |" ]9 u8 }0 @ q1981 $79 $90 2.4% Reagan tax cut
) L6 w) h T. ~# e4 |1982 $128 $144 3.8% Reagan increased spending0 k t7 \; f' Q2 s
1983 $208 $235 5.6% Jobless rate was 10.8%8 W, b0 {2 t, R' L q
1984 $185 $195 4.5% Increased defense spending6 z; [# r _1 u9 P# a
1985 $212 $256 4.8% Increased defense spending
* z4 L+ i4 l0 X, f5 x' [1986 $221 $297 4.8% Tax cut' A7 O- `# O" I7 [2 { @
1987 $150 $225 3.1% Market crash9 z; j! N5 ]8 O! [& k, T2 J5 u! k
1988 $155 $252 2.9% Fed raised rates
! A( ~$ Z1 k$ f+ u8 ~1989 $153 $255 2.7% S&L Crisis, Bush 41 budget# I& `& `- P. P
1990 $221 $376 3.7% Desert Storm% J8 U6 l3 y" t; W# T( y, I
1991 $269 $432 4.3% Recession
9 q7 y! f" j+ e4 h% Z. g+ [& n: Q8 P1992 $290 $399 4.4% Expansion
( Q0 {$ q; N5 E6 m3 L1993 $255 $347 3.7% Clinton signed Budget Act! j8 t+ w: C6 L% S" ? X& ^
1994 $203 $281 2.8% Clinton budget
2 P# m/ I w# K4 C! g4 W# l8 A$ N6 g1995 $164 $281 2.1% Expansion; p% \# s q4 Y) o8 |, l- x
1996 $107 $251 1.3% Welfare reform. z$ A7 W9 H' ?5 g* o8 f1 \
1997 $22 $188 0.3% Expansion
1 X0 k1 p q. c' |1998 ($69) $113 (0.8%) LTCM crisis, recession
, [5 _$ z# L8 x8 A3 {1999 ($126) $130 (1.3%) Glass-Steagall repealed
; t4 V9 o! q7 x x# G2000 ($236) $18 (2.3%) Surplus( z, b1 n4 R- F* s
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA2 R% n4 n7 t9 u
2002 $158 $421 1.4% War on Terror
/ ]1 _3 j, }" d1 |' E, J/ ]+ ~2003 $378 $555 3.3% JGTRRA
' `2 m6 {. p- |, H2004 $413 $596 3.4% Iraq War
$ g J+ B) [9 p2005 $318 $554 2.4% Katrina, Bankruptcy Act
3 j# v; f1 o. `8 t2006 $248 $578 1.8% Bernanke chairs Fed
9 ]: [1 s. F0 ~0 J6 N$ l% g8 I2007 $161 $501 1.1% Bank crisis, u! ]8 G0 h# f) ]1 r2 u+ Y
2008 $459 $1,017 3.1% Bank bailout, QE
, s4 U9 e& b; H) ^$ R' P- M' }2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
+ H T# D: e/ Q q9 R6 E2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles, Q- o9 B6 \1 e& b i
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
% g- ~0 M! G4 u( m1 _2012 $1,087 $1,276 6.7% Fiscal cliff
) q$ r$ N) ?$ O7 M4 K8 [+ E) H0 V0 |2013 $679 $672 4.0% Sequester, government shutdown* \7 s1 r# `1 o3 H' ?: p7 k
2014 $485 $1,086 2.7% Debt ceiling
7 f' f. L9 f) u+ b1 G2015 $438 $327 2.4% Defense = $736.4B7 n( N# T7 ^$ A& l0 b3 C2 _+ P% u: q
2016 $585 $1,423 3.1% Defense = $767.6B
& Y9 Q5 p2 I9 S3 J/ k$ Q- W2017 $665 $672 3.4% Defense = $817.9B2 m( u) Z+ a, `# v/ b& N0 h
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts8 Z% _0 `7 ]6 B2 c& m* ?' t" A
2019 $1,091 $1,314 NA Defense = $956.5B8 F* U! x6 v0 l$ |+ }# d
2020 $1,101 $1,281 NA Defense = $989B& D! F" n0 O3 p3 C1 u
2021 $1,068 $1,276 NA NA6 b2 X$ K" i8 {6 A
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