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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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2020财年美国预算赤字预计为1.1万亿美元
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The first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.
8 J) _' ^# i! E 第一列表示会计年度,其次是该年度的赤字(十亿)。其次是财政年度的债务增加,其次是赤字/ GDP。最后,列举了影响赤字的事件7 [0 B8 D( c9 A+ m; v( d' w: D% o# C" H
i: v# f$ }' q$ rFiscal Year Deficit (in billions) Debt Deficit/GDP Events
. l) c0 ?$ G! ^2 U# Z: ^% E: F1929 ($1) ($1) (0.7%) Market crash
9 M# o: N# M# W2 e) G1930 ($1) ($1) (0.8%) Smoot-Hawley
8 ]* V( S9 [0 X/ j8 L; [$ M8 X1931 $0 $1 0.6% Dust Bowl$ ?, {9 l0 d8 e
1932 $3 $3 4.5% Hoover tax hike
/ z3 G+ P) y8 J, r1933 $3 $3 4.5% FDR New Deal
3 H6 w0 l- A ^5 c5 q! u1934 $4 $5 5.4% GDP up 10.8%, debt also rose
8 l! `' ]8 n- @; I' H1935 $3 $2 3.8% Social Security
0 n# ^$ m$ H5 \1936 $4 $5 5.1% Tax hikes( ^' v# A+ R; C' h* Q. w6 m
1937 $2 $3 2.4% Depression returned, third New Deal% o6 _% ^. `& n8 [
1938 $0 $1 0.1% Dust Bowl ended& `# c2 d9 g* t4 I' c' n# Y
1939 $3 $3 3.0% Depression ended
6 P; j' \ i* u( }' t) @7 Y1940 $3 $3 2.8% Defense increased
( S4 i. o4 k F) |* ~) P" Y1941 $5 $6 3.8% Pearl Harbor; T! T" x+ v. ?" U: b
1942 $21 $23 12.3% Battle of Midway3 B* ]5 ]6 }2 A z7 o
1943 $55 $64 26.9% Defense tripled) D$ s3 y6 [8 g' _5 G Y
1944 $48 $64 21.2% Bretton Woods' \7 P' h$ g1 [8 R! W
1945 $48 $58 20.0% WWII ended
. ?# F% J8 j3 }5 y) o) |5 e& m+ Q1946 $16 $11 7.0% Recession
1 B" Y Q0 H& Z7 n1947 ($4) ($11) (1.6%) Cold War$ _/ J" U. D. e
1948 ($12) ($6) (4.2%) Recession
: H6 s1 r& |0 o6 W1949 ($1) $0 (0.2%) Recession
, M, e4 H* ~4 r6 L# k; A1950 $3 $5 1.0% Korean War$ g; ]7 K$ H4 S1 I+ o }0 z) r
1951 ($6) ($2) (1.7%) Expansion5 Z, ?/ {& f& n. q( B! w3 }' e
1952 $2 $4 0.4% Expansion
: B: T( P3 O8 U3 q, ^1953 $6 $7 1.7% Korean War ended, recession5 Q! I M5 g c7 U8 R h: M& m
1954 $1 $5 0.3% Recession, Eisenhower budgets. |% K+ C; O* A% q& N V: A
1955 $3 $3 0.7% Expansion/ W W3 d* I; {
1956 ($4) ($2) (0.9%) Expansion9 c- n2 E( _. u, Q- ]
1957 ($3) ($2) (0.7%) Recession3 S2 U# ^- D* g9 B c% x s# U
1958 $3 $6 0.6% Recession ended3 p4 ~9 D' f2 v: t# W, p
1959 $13 $8 2.4% Fed raised rates7 t2 a+ W* |! f% [
1960 $0 $2 (0.1%) Recession: m& Q2 I2 ]0 C: l3 y
1961 $3 $3 0.6% JFK & Bay of Pigs
) f1 Y; V& Q. `$ B+ Q! x0 J1962 $7 $10 1.2% Cuban Missile Crisis+ v* P& w2 a) T. E2 G$ A0 L5 B
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed+ u' }9 {: C3 }
1964 $6 $6 0.9% LBJ War on Poverty. Q5 Y3 u1 ^/ r' Q k
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War) d/ s, }; B! I0 S/ v e
1966 $4 $3 0.5% 4 a7 h7 }& y8 n' A* X) l7 _- m3 m
1967 $9 $6 1.0% Expansion, |4 t9 c7 `: r% ^; K3 }" F7 m
1968 $25 $21 2.6% Moon landing
( Q% `. o$ K2 e& U: ?! u, @1969 ($3) $6 (0.3%) Nixon took office! S6 ]: m8 I' n: m' }$ M
1970 $3 $17 0.3% Recession+ h. u* _0 L* F% t
1971 $23 $27 2.0% Wage-price controls; y' b' l4 X. A( k7 L$ J$ H
1972 $23 $29 1.8% Stagflation
/ f: N- [7 x9 K8 {1973 $15 $31 1.0% End of gold standard& b: Z/ x: s3 I8 C
1974 $6 $17 0.4% Budget process created, Watergate8 N- O5 R) `2 I! U$ `
1975 $53 $58 3.1% Ford budget, Vietnam War ended( e" d6 ^, S: y, O* j( c% n% `
1976 $74 $87 3.9% Stagflation
7 Y0 C* Q" ^- u8 E4 c# I1977 $54 $78 2.5% Stagflation3 W* T8 `8 W) d# a& K0 Q
1978 $59 $73 2.5% Carter budget, Recession
+ y7 @7 u8 f, Q- l* L+ u1979 $41 $55 1.5% Recession
, S: u! K+ v0 g) }1980 $74 $81 2.6% Volcker raised rates to 20%
; L4 {+ e7 s0 o& Q6 m1981 $79 $90 2.4% Reagan tax cut9 E2 ]) K- Y; ~, @+ s; a$ R( q
1982 $128 $144 3.8% Reagan increased spending; I' `, [: V9 ~) Q
1983 $208 $235 5.6% Jobless rate was 10.8%
9 ?! I2 j+ l/ X$ G4 f1984 $185 $195 4.5% Increased defense spending
! c# }5 Z1 Z/ o# y$ [0 [9 S, v8 L, k1985 $212 $256 4.8% Increased defense spending9 _1 b! w' B. a2 ]3 Z8 U
1986 $221 $297 4.8% Tax cut
7 y5 I; q. B% \ K+ S3 }1987 $150 $225 3.1% Market crash; e! f4 s# ?0 E& K
1988 $155 $252 2.9% Fed raised rates
7 ]) i m5 a. J3 s% H' L! E1989 $153 $255 2.7% S&L Crisis, Bush 41 budget! E. r( K/ E3 Y
1990 $221 $376 3.7% Desert Storm) |- f0 z, {* d" Y
1991 $269 $432 4.3% Recession1 i) }0 t) y3 y+ [* }
1992 $290 $399 4.4% Expansion8 z L/ f5 h, s$ u7 m
1993 $255 $347 3.7% Clinton signed Budget Act
# G* @) Q, d. s" j4 e9 K$ q1994 $203 $281 2.8% Clinton budget( g' U1 v# e" D8 X
1995 $164 $281 2.1% Expansion( b ~1 n: D0 e2 k* P- [) Y f
1996 $107 $251 1.3% Welfare reform& M O) j( M6 J5 h7 s
1997 $22 $188 0.3% Expansion! u4 [! {; r: p3 m! @9 N
1998 ($69) $113 (0.8%) LTCM crisis, recession
& r/ R4 `+ M% q {( w- c1999 ($126) $130 (1.3%) Glass-Steagall repealed$ ]& J9 L7 @2 J( Y. Y- z7 \
2000 ($236) $18 (2.3%) Surplus9 ~$ s, }; f+ Z& a' \
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA z) X2 u. Y1 D3 g6 Z
2002 $158 $421 1.4% War on Terror
0 b( T$ Y" E, P2 b, N2003 $378 $555 3.3% JGTRRA3 j0 |' e) ?# i3 {% c% i9 r
2004 $413 $596 3.4% Iraq War
. x+ S; ^4 n$ J4 L3 a* g% |3 ^2005 $318 $554 2.4% Katrina, Bankruptcy Act
' x5 [+ k7 H2 W, u) l" l2006 $248 $578 1.8% Bernanke chairs Fed1 K, ^/ }) {# ]5 x O; {
2007 $161 $501 1.1% Bank crisis
$ X3 r* f! ]$ Z" d2008 $459 $1,017 3.1% Bank bailout, QE
% V( O o/ |6 u s2 j2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
/ J0 T B9 c6 X2 U. y6 @6 ^0 Z% p2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles) m! ^" i3 N; F" l2 t: n
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
# n6 O! j3 b* W1 e8 S2 r5 y5 R2012 $1,087 $1,276 6.7% Fiscal cliff
5 W$ Z5 j2 o/ ]& M! Q: S2013 $679 $672 4.0% Sequester, government shutdown$ U h8 D8 r) N/ h7 H# Y8 |, \1 F
2014 $485 $1,086 2.7% Debt ceiling
f2 g2 G8 i: F1 |0 }& e2015 $438 $327 2.4% Defense = $736.4B
( _. G4 ]0 n8 @" N; @' y2016 $585 $1,423 3.1% Defense = $767.6B
* s0 n4 M/ I- }5 H8 Y) ]# `2017 $665 $672 3.4% Defense = $817.9B
0 W- u- J! j* V/ A t2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
4 w# w, w1 `/ o& U: i0 \2019 $1,091 $1,314 NA Defense = $956.5B
% W( D2 T* t) O2 U2020 $1,101 $1,281 NA Defense = $989B
# R+ P1 {. ]( o/ {2 l" G# O9 V% b/ @( H2021 $1,068 $1,276 NA NA
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