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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.
; y+ I* g0 m5 E; F4 u 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5 t4 C3 |, s7 U1 |3 }2 }" k
; H2 W9 }! E; wFiscal Year Deficit (in billions) Debt Deficit/GDP Events) X! Y' D9 K' g5 {! J U
1929 ($1) ($1) (0.7%) Market crash$ A- T* m8 i d# i
1930 ($1) ($1) (0.8%) Smoot-Hawley
! }6 h; s+ h! a. r& j1931 $0 $1 0.6% Dust Bowl
" V- W) R0 k# y5 x5 I1932 $3 $3 4.5% Hoover tax hike* Z( h1 X+ G9 T
1933 $3 $3 4.5% FDR New Deal7 y& L1 Q7 r; x
1934 $4 $5 5.4% GDP up 10.8%, debt also rose
( f2 p- v1 p! V% g4 H1 [6 y0 Z/ @1935 $3 $2 3.8% Social Security
* C$ @7 [0 c7 t1936 $4 $5 5.1% Tax hikes# s; X1 e: y' Z9 E; ~1 y
1937 $2 $3 2.4% Depression returned, third New Deal
7 Q! e4 I3 m# a$ T: ^# X1938 $0 $1 0.1% Dust Bowl ended$ V) ?& i5 _" L4 m( A/ _5 A. U
1939 $3 $3 3.0% Depression ended Q. c) K) D9 b. Y6 Z9 ?
1940 $3 $3 2.8% Defense increased( m5 f5 f# e/ z$ q' ~6 k
1941 $5 $6 3.8% Pearl Harbor
& {' T3 G) i$ y$ B0 p9 F1942 $21 $23 12.3% Battle of Midway; w* u4 L6 u" X
1943 $55 $64 26.9% Defense tripled. p N0 q9 Q% Q( c9 N* E
1944 $48 $64 21.2% Bretton Woods& N6 b! x4 x1 X3 K
1945 $48 $58 20.0% WWII ended, K6 B! ~, {) \* v* H0 j1 f% ~1 c
1946 $16 $11 7.0% Recession- M0 a" s8 R( p. u* m4 ?
1947 ($4) ($11) (1.6%) Cold War
* |9 M6 F: K4 z Q1948 ($12) ($6) (4.2%) Recession. u* W4 W: M# `$ m* Y
1949 ($1) $0 (0.2%) Recession$ i a' l0 Q0 {8 G/ z' Q( ?
1950 $3 $5 1.0% Korean War- M# S- z* b g* s( j ^0 O- a
1951 ($6) ($2) (1.7%) Expansion# H2 D: ~. I: k" t1 P0 h* W& A5 m
1952 $2 $4 0.4% Expansion
' V! ]3 r. E4 l# w1953 $6 $7 1.7% Korean War ended, recession& { V) i1 Q. R4 Q# }8 s- F
1954 $1 $5 0.3% Recession, Eisenhower budgets4 V0 ^% R3 _1 y. {
1955 $3 $3 0.7% Expansion% E) U, L/ Z# t+ z* }3 m$ R
1956 ($4) ($2) (0.9%) Expansion
% X' ~1 d% I6 u F! ^1957 ($3) ($2) (0.7%) Recession& m( q3 c1 @! K# `
1958 $3 $6 0.6% Recession ended" D5 D/ I' b! }2 M. r6 F: [
1959 $13 $8 2.4% Fed raised rates
( y+ `0 c% C" `3 R1 u0 |8 c* N( M1960 $0 $2 (0.1%) Recession9 x: g& H' z( Y2 w. l, }0 L
1961 $3 $3 0.6% JFK & Bay of Pigs
7 V/ P/ B, o( R- e% |1962 $7 $10 1.2% Cuban Missile Crisis
* x) d! K$ M7 p# G" l! @1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
s6 D# l; ~1 V; A. \1964 $6 $6 0.9% LBJ War on Poverty0 E7 @' O+ ]6 c0 Z& w2 k
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War' L1 o6 l. R, n9 E
1966 $4 $3 0.5%
A8 N2 k. { F. ^# T1967 $9 $6 1.0% Expansion" g, C) p( S2 n. L; E% M/ u
1968 $25 $21 2.6% Moon landing
7 T* _1 y$ [- b% ]: }1969 ($3) $6 (0.3%) Nixon took office% r; a, z2 [1 V
1970 $3 $17 0.3% Recession3 Z5 U( `1 K; d3 p" d* C+ Z0 m2 u
1971 $23 $27 2.0% Wage-price controls r t, _% p) e! {- v* L
1972 $23 $29 1.8% Stagflation
: X: D' f- u! X1973 $15 $31 1.0% End of gold standard$ `$ ~& `2 U4 z" C" m ^6 t" \
1974 $6 $17 0.4% Budget process created, Watergate3 Q0 t) i: ]& [" o: v# i
1975 $53 $58 3.1% Ford budget, Vietnam War ended+ c9 O2 ~5 a4 S! q1 q
1976 $74 $87 3.9% Stagflation
0 Y) J0 ~0 U+ r7 t1 f) A/ u. r1977 $54 $78 2.5% Stagflation- f6 g8 N- ^% c3 q# R! H
1978 $59 $73 2.5% Carter budget, Recession: E+ Z2 D" |, s( T( N- L
1979 $41 $55 1.5% Recession0 M( u2 D6 y5 ^# K; `1 F; u
1980 $74 $81 2.6% Volcker raised rates to 20%+ {3 M. O' ]; L1 O7 k0 S* V5 M" a
1981 $79 $90 2.4% Reagan tax cut5 V' o2 M2 S% t2 ]6 Q) F
1982 $128 $144 3.8% Reagan increased spending
- R8 W1 W: d# C1 v% |1983 $208 $235 5.6% Jobless rate was 10.8%
* K2 E6 i3 _2 r' J1984 $185 $195 4.5% Increased defense spending. P" ?, t ]2 s
1985 $212 $256 4.8% Increased defense spending6 N" {. ~& D; F- N$ \- {
1986 $221 $297 4.8% Tax cut
5 e- h6 P7 |7 g/ W) |# u1987 $150 $225 3.1% Market crash
# S: s3 Z) E4 N6 o! b* ?/ m1988 $155 $252 2.9% Fed raised rates6 H; V7 f" C+ u% ~) l7 l$ p n8 E
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget0 l- J* H% a# ~; }. Z' \
1990 $221 $376 3.7% Desert Storm
6 c; Q0 t7 }- q/ X7 k8 A# R' P1991 $269 $432 4.3% Recession$ `, U& A5 i& {" ]0 M# F ^
1992 $290 $399 4.4% Expansion# U( e8 J0 X) m4 K7 R
1993 $255 $347 3.7% Clinton signed Budget Act
( j6 K; G% Q+ C1994 $203 $281 2.8% Clinton budget
6 C& C- m1 E3 u/ M Z+ Z# H1995 $164 $281 2.1% Expansion
) C( o* I/ l/ i/ `+ v; Y0 l9 m0 @1996 $107 $251 1.3% Welfare reform
$ J$ i/ W' G/ q) \# \/ U1997 $22 $188 0.3% Expansion( O# z* }5 r0 \% b5 L4 c
1998 ($69) $113 (0.8%) LTCM crisis, recession
4 c0 y/ [9 ~* t2 n1999 ($126) $130 (1.3%) Glass-Steagall repealed
/ |& L. _4 I/ y) \6 R `2000 ($236) $18 (2.3%) Surplus
3 d9 g* O! ]& u" {! N- ?2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
6 h8 Q* P; ]- b; V- p& r' k3 r2002 $158 $421 1.4% War on Terror7 W& o5 _3 c. p7 j2 [5 I+ g9 p' [ f. x
2003 $378 $555 3.3% JGTRRA
5 @: k* z4 n" O' s& J4 @2004 $413 $596 3.4% Iraq War- n7 @& i3 H* y5 N+ L- `
2005 $318 $554 2.4% Katrina, Bankruptcy Act. ]2 k q& B6 r1 \* t
2006 $248 $578 1.8% Bernanke chairs Fed
% i4 O8 k0 ~) K2 {2007 $161 $501 1.1% Bank crisis M6 ]) d: Y6 w0 `" ]' i4 d7 K! z+ E3 l- F
2008 $459 $1,017 3.1% Bank bailout, QE3 a- j, `9 i7 {
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B1 T6 o- {5 _0 }# b
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
/ {0 p: k+ i9 p% m7 b* W2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue- Q6 Y6 D% h) V5 v
2012 $1,087 $1,276 6.7% Fiscal cliff7 N% {+ p2 m( }1 O
2013 $679 $672 4.0% Sequester, government shutdown
8 z7 z$ e: s7 \7 x; K ]5 T* ]2014 $485 $1,086 2.7% Debt ceiling
. g% Q9 F: U; p& b8 w4 U3 |: ?2015 $438 $327 2.4% Defense = $736.4B
- V3 w, w2 ]2 E3 M& N2016 $585 $1,423 3.1% Defense = $767.6B
! U. D, N. y$ q* e( X4 c' R: D2017 $665 $672 3.4% Defense = $817.9B
( e+ _" g- ?% [0 d5 n! y, S0 S. x2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
- M8 ~4 G6 y+ B* v- ~& u( ]2 \2019 $1,091 $1,314 NA Defense = $956.5B0 ~% _. ~0 |* F* E1 p7 i, [
2020 $1,101 $1,281 NA Defense = $989B8 F [5 U- u# H& Z5 l0 f
2021 $1,068 $1,276 NA NA; J0 R) k2 r- ~" \# `! Q) p
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