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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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) Z% a6 m; g) }2020财年美国预算赤字预计为1.1万亿美元6 Y. U8 N& V% j! r
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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.7 y2 d2 M& T. \
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( T" G' f' y9 r, l. w0 _, Z, m4 a
1929 ($1) ($1) (0.7%) Market crash
: E6 x1 n% A: D4 Q- u& Z1930 ($1) ($1) (0.8%) Smoot-Hawley1 @* H; x$ O0 @+ S3 B1 G% m% I
1931 $0 $1 0.6% Dust Bowl0 D) c) D ^; F& n* W0 p9 M% Q' B
1932 $3 $3 4.5% Hoover tax hike) f1 @+ Y. i6 F* H$ B) G
1933 $3 $3 4.5% FDR New Deal1 d# H7 G+ R0 Z
1934 $4 $5 5.4% GDP up 10.8%, debt also rose& p- i" m/ V. s* Y- W$ |+ W
1935 $3 $2 3.8% Social Security
9 i8 f& q- ?: f1 }. Z' N7 K+ P) P1936 $4 $5 5.1% Tax hikes1 m4 o1 Q( H8 a2 o7 k
1937 $2 $3 2.4% Depression returned, third New Deal
3 |% O# l2 H6 G0 q. |$ _* ]. ?1938 $0 $1 0.1% Dust Bowl ended
/ V+ Y* v# X: n' ^- @ ]7 E6 E0 J1939 $3 $3 3.0% Depression ended
# ?4 N! Q/ B+ A# V* p' Q1940 $3 $3 2.8% Defense increased7 y6 t& { F4 Q9 }8 g: T6 R1 h
1941 $5 $6 3.8% Pearl Harbor5 v: g! S6 b, M7 j7 W; h
1942 $21 $23 12.3% Battle of Midway$ ^. U; w) t" h
1943 $55 $64 26.9% Defense tripled0 A L% w: y! y4 b% n
1944 $48 $64 21.2% Bretton Woods
; Y0 x2 g) l3 s. z, m1945 $48 $58 20.0% WWII ended' r' g6 }$ l9 ~7 E- m1 _: f
1946 $16 $11 7.0% Recession
6 E0 ~( u7 `* v$ A: d0 `1947 ($4) ($11) (1.6%) Cold War3 ?: g$ z: e. D& L9 Y# n& J5 T0 q
1948 ($12) ($6) (4.2%) Recession( ^- f8 Z3 ?6 V4 p6 u
1949 ($1) $0 (0.2%) Recession) |/ z7 T$ N! } F! @, M
1950 $3 $5 1.0% Korean War8 @* Y7 x ^7 b9 q- Y2 v) O, u
1951 ($6) ($2) (1.7%) Expansion
) t* J4 |! C( v1 @7 Y$ v1952 $2 $4 0.4% Expansion
! G7 Z5 u9 w( g0 M8 M H1953 $6 $7 1.7% Korean War ended, recession
: `. n+ t. L& @' R# I; C1 |0 ^8 _1954 $1 $5 0.3% Recession, Eisenhower budgets
8 c! r8 S- `' N& ^. o0 N4 `1955 $3 $3 0.7% Expansion4 @! u7 E1 X7 N. Z0 q$ z7 D
1956 ($4) ($2) (0.9%) Expansion
6 y# q8 l- F! l1 D2 S" J& z1957 ($3) ($2) (0.7%) Recession
$ b* q* D$ f3 A/ V1958 $3 $6 0.6% Recession ended! e; Y$ X) Q! H5 U& e% ]
1959 $13 $8 2.4% Fed raised rates
6 U* I1 {4 l# X( r( \1960 $0 $2 (0.1%) Recession
( f( v$ K# P6 T1961 $3 $3 0.6% JFK & Bay of Pigs
, K) p6 g: `, R: ]1 I1962 $7 $10 1.2% Cuban Missile Crisis1 `% ^" \$ ?" Y* S" N
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
1 Z* X- V/ A1 w/ C1964 $6 $6 0.9% LBJ War on Poverty
" N U4 T& o- V* d1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
, q. ~; c+ }, M# Z: I9 Y" [# H7 {# ~1966 $4 $3 0.5% 8 b! Z, j" q3 I
1967 $9 $6 1.0% Expansion2 Q2 J% B, L6 ]0 i6 k
1968 $25 $21 2.6% Moon landing2 G3 o1 z5 F% \0 K
1969 ($3) $6 (0.3%) Nixon took office
& k* W+ C8 w! u5 K' }; A1970 $3 $17 0.3% Recession
6 {, |' P5 S1 V c9 n2 J/ t1971 $23 $27 2.0% Wage-price controls
9 I( b9 D t+ d3 I: G1972 $23 $29 1.8% Stagflation
( B) J% t1 L2 F' R9 u1973 $15 $31 1.0% End of gold standard; q$ {& C6 B, i: S- i
1974 $6 $17 0.4% Budget process created, Watergate1 t- _/ y2 {0 w5 N3 e
1975 $53 $58 3.1% Ford budget, Vietnam War ended
% _8 c# p( M t" y/ v( v: {# S3 Z1976 $74 $87 3.9% Stagflation. ?8 y t* m& V! l
1977 $54 $78 2.5% Stagflation3 T2 H1 o0 P: |
1978 $59 $73 2.5% Carter budget, Recession
: _3 S8 X# u4 i% ]& L1979 $41 $55 1.5% Recession
# M1 F# ]' U+ F0 ]' C6 t7 t1980 $74 $81 2.6% Volcker raised rates to 20%
! F6 T6 G5 J: |, u( h8 s1981 $79 $90 2.4% Reagan tax cut
; F- g0 r/ [; J7 }. ?1 a1982 $128 $144 3.8% Reagan increased spending% r8 m- D& Z5 T) Z- k v
1983 $208 $235 5.6% Jobless rate was 10.8%( w. Q% n' y6 a7 j5 m
1984 $185 $195 4.5% Increased defense spending
( N* `; |& e+ A7 S6 F. f8 |& J7 r1985 $212 $256 4.8% Increased defense spending1 g1 |% w' D" n, q+ q
1986 $221 $297 4.8% Tax cut
% R7 c( K) e. K* A x; l8 n1987 $150 $225 3.1% Market crash" F/ r2 p. U( M6 v; n% J3 o; [
1988 $155 $252 2.9% Fed raised rates
1 W1 k) S7 `9 u5 F% Q1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
* @( @0 M& s3 P( j+ |1 ^% H1990 $221 $376 3.7% Desert Storm1 @$ j* C% K+ g
1991 $269 $432 4.3% Recession7 ^; w, |3 g' Y6 u/ Y0 R2 L5 g: m
1992 $290 $399 4.4% Expansion
$ P9 B: y C5 D6 U, j1993 $255 $347 3.7% Clinton signed Budget Act
7 h' `1 [6 o! U- H8 W _3 V5 C1994 $203 $281 2.8% Clinton budget
/ O& ~" e$ Y+ `- k U1995 $164 $281 2.1% Expansion
M' W) B" F' U1996 $107 $251 1.3% Welfare reform0 ~2 Q4 H h' J9 ?' ?8 _* O
1997 $22 $188 0.3% Expansion2 H& C1 p, a1 ?% _" V1 H! o+ W4 L
1998 ($69) $113 (0.8%) LTCM crisis, recession
3 u- @4 B6 ]' J# w2 S1999 ($126) $130 (1.3%) Glass-Steagall repealed* g Q# M' q5 u- G; p
2000 ($236) $18 (2.3%) Surplus/ J8 E& q5 ?" o3 r+ v- R
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
: l! J( C9 i4 i* T: R2002 $158 $421 1.4% War on Terror
. P4 m/ F6 g2 C& ~! {+ ~& K2003 $378 $555 3.3% JGTRRA
$ ?! u1 |; C+ `2004 $413 $596 3.4% Iraq War. u: Y( ]5 F1 e0 j3 ~4 F
2005 $318 $554 2.4% Katrina, Bankruptcy Act
8 F9 O% |- t N+ {2006 $248 $578 1.8% Bernanke chairs Fed: \" F# R! |/ V& c9 P: ^
2007 $161 $501 1.1% Bank crisis
% C8 [% M. k, }9 \1 U2008 $459 $1,017 3.1% Bank bailout, QE
" d* K7 N6 N: L! M- a& `- R' v2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
/ q7 G5 y/ U8 g2 D. _" j2 C8 I2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
) r2 H) Z" L& X8 o2 R2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
. T+ P6 ?4 e- c2 M t2012 $1,087 $1,276 6.7% Fiscal cliff
: b3 @4 H% y4 H, P5 X1 {8 U2013 $679 $672 4.0% Sequester, government shutdown
# x5 R. \+ K: n! b6 u2014 $485 $1,086 2.7% Debt ceiling
* E3 j0 N) w7 k# e; x& C, E. N% a2015 $438 $327 2.4% Defense = $736.4B
) n; |; s7 \# X2016 $585 $1,423 3.1% Defense = $767.6B9 `* r c0 I) x( Q# Y2 ?4 y, q" O
2017 $665 $672 3.4% Defense = $817.9B, w! [5 I' l# E& s# j# P
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts. H) e4 g3 R3 ^& ]
2019 $1,091 $1,314 NA Defense = $956.5B Q' G% W8 F* j# _2 }
2020 $1,101 $1,281 NA Defense = $989B# p( U( G3 ^+ Z Y1 Q
2021 $1,068 $1,276 NA NA: y6 W% Y2 a& k% C R% w
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