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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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2 q( B: z h e2 S( v E2020财年美国预算赤字预计为1.1万亿美元. V6 ~0 e! q8 J s4 h+ D
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The first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.8 N$ U; O9 F: ~& Z& v6 q4 c' I5 a
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 \; ^2 M' [. q3 P# c
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Fiscal Year Deficit (in billions) Debt Deficit/GDP Events% n; S6 }3 x7 P9 ^* B9 O: }
1929 ($1) ($1) (0.7%) Market crash
. k( L3 h8 r: R1930 ($1) ($1) (0.8%) Smoot-Hawley
+ V8 O+ {6 i; [3 ]1931 $0 $1 0.6% Dust Bowl
# o+ u; S2 G' b( H1932 $3 $3 4.5% Hoover tax hike
' z6 z3 Q; j3 l4 Q& t1933 $3 $3 4.5% FDR New Deal- `! x8 L% u) o# @" h" n
1934 $4 $5 5.4% GDP up 10.8%, debt also rose) n2 u' B o7 e
1935 $3 $2 3.8% Social Security
" R1 D& n$ _3 H" K. V8 h1936 $4 $5 5.1% Tax hikes
2 S0 n( g9 p, {" j# x1937 $2 $3 2.4% Depression returned, third New Deal
% [0 C8 M' `( D9 a' K1938 $0 $1 0.1% Dust Bowl ended
. `$ C5 @3 J! M/ u1939 $3 $3 3.0% Depression ended
h& W) R9 y( |* K$ E1940 $3 $3 2.8% Defense increased# b! y4 \9 g. G4 X& W+ r
1941 $5 $6 3.8% Pearl Harbor
6 |( S# ]9 {( `. O1942 $21 $23 12.3% Battle of Midway G" V6 c2 N; U
1943 $55 $64 26.9% Defense tripled
9 l' F! Q9 b4 j1944 $48 $64 21.2% Bretton Woods/ ~- y* j" O1 K& c4 r
1945 $48 $58 20.0% WWII ended5 p. @8 f$ M9 l |
1946 $16 $11 7.0% Recession
m- J, R! ?5 b1 f! j/ s1947 ($4) ($11) (1.6%) Cold War
0 @+ C, N- q0 x! R& n1948 ($12) ($6) (4.2%) Recession( ^" ^: E t) E9 @4 q* R
1949 ($1) $0 (0.2%) Recession9 d* X3 k( A; d( R+ `
1950 $3 $5 1.0% Korean War+ x- F8 I3 C/ n# x( ~' q$ a
1951 ($6) ($2) (1.7%) Expansion
3 T; t P( a( G: P: Z' C: Q8 N) ]5 ]. f1952 $2 $4 0.4% Expansion
$ V. h2 a s# L& k# A+ {1953 $6 $7 1.7% Korean War ended, recession
* K- S- v) i. n' H1954 $1 $5 0.3% Recession, Eisenhower budgets
" |9 q0 D# b6 u" J* c! a8 h+ B1955 $3 $3 0.7% Expansion
( z: C1 n% ] p& b8 H4 W7 V4 {1956 ($4) ($2) (0.9%) Expansion3 I; A$ @! o. p8 _
1957 ($3) ($2) (0.7%) Recession& \" \$ A' F8 Z$ H
1958 $3 $6 0.6% Recession ended A4 D0 Y# Z0 U0 z3 Y" I, y
1959 $13 $8 2.4% Fed raised rates+ E/ K! ~: \/ `/ n& r9 E% o
1960 $0 $2 (0.1%) Recession' t2 }+ e/ W k* i+ p2 M2 |: S, t
1961 $3 $3 0.6% JFK & Bay of Pigs5 |, G) m. o1 F+ V' o
1962 $7 $10 1.2% Cuban Missile Crisis" b6 s/ Y- d' o# P) F3 B
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
/ ^! ?8 l/ M& Y5 h9 j1964 $6 $6 0.9% LBJ War on Poverty1 s4 J. Q, M6 a2 g$ ^, u* Y
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
, ?0 d1 z2 N+ G& U$ D1966 $4 $3 0.5%
8 F- z/ y9 C; ?8 H5 I4 J, V% t1967 $9 $6 1.0% Expansion
' P4 Y7 ?' r* N4 B2 r; Y; a1968 $25 $21 2.6% Moon landing" B5 O# G% y; L+ x
1969 ($3) $6 (0.3%) Nixon took office; i/ }6 N# s7 M5 h
1970 $3 $17 0.3% Recession
5 s6 u) L) K' V/ b$ a8 m( e3 A1971 $23 $27 2.0% Wage-price controls0 g0 {% P, y0 {( B I2 a$ _/ o
1972 $23 $29 1.8% Stagflation+ T6 ]& e8 b1 O1 Y
1973 $15 $31 1.0% End of gold standard5 f! D! ?/ c+ }" {8 I$ ?4 H. T
1974 $6 $17 0.4% Budget process created, Watergate
' Q5 Q2 N' n* Q9 V1 [1975 $53 $58 3.1% Ford budget, Vietnam War ended
/ t& E( b* p9 K2 l7 p V1976 $74 $87 3.9% Stagflation
) A8 ^6 L# M" g1 V1977 $54 $78 2.5% Stagflation1 f0 P1 f9 s: c0 @& v9 g
1978 $59 $73 2.5% Carter budget, Recession. V3 q) }; [! ?- v9 o
1979 $41 $55 1.5% Recession
- ~4 W6 X$ X2 N) Q. O1980 $74 $81 2.6% Volcker raised rates to 20%$ B! b/ o5 I/ e' C3 w
1981 $79 $90 2.4% Reagan tax cut
0 ~" ^ D2 O J& Z$ F2 w" m1982 $128 $144 3.8% Reagan increased spending2 v2 x- w$ q+ u0 V2 ]5 K' g
1983 $208 $235 5.6% Jobless rate was 10.8%
( W- b% ? G* r3 u: V' i' g1984 $185 $195 4.5% Increased defense spending9 w5 R$ c' {! i# t
1985 $212 $256 4.8% Increased defense spending
, S+ z# z; t+ H- r: B2 N1986 $221 $297 4.8% Tax cut6 B/ ^1 u3 E$ T Q g2 R
1987 $150 $225 3.1% Market crash
) R3 X. U/ c6 Z; K0 y. u4 v# T5 g1988 $155 $252 2.9% Fed raised rates
1 c& H# F; {; [1 K+ M1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
1 E, n2 p% T( v8 ]1990 $221 $376 3.7% Desert Storm' t% d/ s8 l( i5 O$ q* g, y
1991 $269 $432 4.3% Recession
. i( I% ^7 l, {1992 $290 $399 4.4% Expansion
5 w: z s2 N5 i1 ?6 p. o1993 $255 $347 3.7% Clinton signed Budget Act
6 }: z2 W% Z" H! u# ?- W7 J# B1994 $203 $281 2.8% Clinton budget- L) g5 L- \3 ^" H! o
1995 $164 $281 2.1% Expansion
4 H: J; C. x. z& {' b( E1996 $107 $251 1.3% Welfare reform
* ^% M1 ^5 t+ q7 J1997 $22 $188 0.3% Expansion
m* c% a" b" |- E1 d1998 ($69) $113 (0.8%) LTCM crisis, recession
0 r1 i5 A: \ j; S1999 ($126) $130 (1.3%) Glass-Steagall repealed/ \9 O6 r' w2 M3 d% q- L& J
2000 ($236) $18 (2.3%) Surplus/ N2 n# w! W% `3 i- P' t! U
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA4 v6 y5 O6 t7 M8 @' g
2002 $158 $421 1.4% War on Terror3 K% h Z) j) @- w* ^! f
2003 $378 $555 3.3% JGTRRA1 C! Z Y5 _. i* G2 r1 j
2004 $413 $596 3.4% Iraq War, B* o" {9 c7 y; u! s
2005 $318 $554 2.4% Katrina, Bankruptcy Act$ I7 u+ c9 L3 [2 E! j
2006 $248 $578 1.8% Bernanke chairs Fed+ G F' x% ~ q: ~; ?, O
2007 $161 $501 1.1% Bank crisis R, F2 O5 \ I- G
2008 $459 $1,017 3.1% Bank bailout, QE- j+ H& O0 e! c: o+ C) r
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B Y! [6 [& C0 z3 q+ Z0 g" X- |
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
! h4 i# K& B) E' ~' m( F2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
4 n7 C! @7 C, j% i2012 $1,087 $1,276 6.7% Fiscal cliff: t: E- I, X8 g- G
2013 $679 $672 4.0% Sequester, government shutdown. l. e B* b' a+ n6 P
2014 $485 $1,086 2.7% Debt ceiling
/ }' T& j. l6 ~( @1 Q$ Z# [2015 $438 $327 2.4% Defense = $736.4B
* t9 N O4 S! ~0 B8 S# V2016 $585 $1,423 3.1% Defense = $767.6B
; j6 D% ]; ]8 p$ d/ t2017 $665 $672 3.4% Defense = $817.9B7 l& a1 x6 [$ P! U9 Q
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
3 i7 S% J9 W3 k, e2019 $1,091 $1,314 NA Defense = $956.5B
2 t) v9 A p7 `3 [7 x2020 $1,101 $1,281 NA Defense = $989B
1 a8 z; t$ z; d7 H7 q+ } P2021 $1,068 $1,276 NA NA
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