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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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6 s7 X6 F3 W% N+ g! ~# w0 B2020财年美国预算赤字预计为1.1万亿美元7 |: [) N. }" T9 |
/ ], Q3 ^4 i0 X; i% P+ N$ E8 x2 PThe 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 ~2 Y3 n0 \6 L3 C& E5 [ 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. t9 ~9 I+ ^. s7 n" D) m
1929 ($1) ($1) (0.7%) Market crash
% Q/ H9 D1 [# y$ H1930 ($1) ($1) (0.8%) Smoot-Hawley
L! W- W" L6 X! s9 K1931 $0 $1 0.6% Dust Bowl
" E5 z( D, g* ~3 v1932 $3 $3 4.5% Hoover tax hike
- Q3 |; K: D3 f o) H; m% K1933 $3 $3 4.5% FDR New Deal8 y8 Z4 d8 ]7 G2 O6 Z0 c% Y
1934 $4 $5 5.4% GDP up 10.8%, debt also rose
. z; z- K2 T' w0 U. Y1935 $3 $2 3.8% Social Security
" \. t$ F) i9 @# X4 k1 }( b1936 $4 $5 5.1% Tax hikes) `; \) ~/ @* Q4 m: d- @0 c6 @$ W
1937 $2 $3 2.4% Depression returned, third New Deal7 G6 D% r6 G; u; E; ~* N
1938 $0 $1 0.1% Dust Bowl ended
# B1 c" \" I2 _) H$ q A1939 $3 $3 3.0% Depression ended
/ |/ ?5 C* O `: _$ }1940 $3 $3 2.8% Defense increased
' W% P( L$ o6 }5 d; P1941 $5 $6 3.8% Pearl Harbor
$ z1 d! w3 v2 x1942 $21 $23 12.3% Battle of Midway% ^" g6 N$ h* n! c; V" E" j. P
1943 $55 $64 26.9% Defense tripled2 G7 S' ^8 ^3 A1 i+ {) A
1944 $48 $64 21.2% Bretton Woods
9 V' p; ~ ~" t R( V1945 $48 $58 20.0% WWII ended
! S5 b9 Y$ W) Y1946 $16 $11 7.0% Recession
7 i5 d8 F/ ~0 B1947 ($4) ($11) (1.6%) Cold War$ W9 ~2 D( I e& \
1948 ($12) ($6) (4.2%) Recession
# a z3 M/ X9 {. E+ m! }% i1949 ($1) $0 (0.2%) Recession
7 N9 k3 q( Z& u/ G' ?$ `1950 $3 $5 1.0% Korean War
6 m+ W M5 ~. p W, I5 i1951 ($6) ($2) (1.7%) Expansion
( t7 p' ~9 l& t1 U; W, K1952 $2 $4 0.4% Expansion o9 S* Y, a# b- E$ I, n* D7 U
1953 $6 $7 1.7% Korean War ended, recession
. G# x. l# o6 o& [4 a1954 $1 $5 0.3% Recession, Eisenhower budgets/ L' i( L7 l! b% D: H" N
1955 $3 $3 0.7% Expansion4 g7 a- Z+ j/ s/ P3 `
1956 ($4) ($2) (0.9%) Expansion
/ g( Q$ j3 q. y2 C$ w1957 ($3) ($2) (0.7%) Recession
7 A& w5 P* ^0 J4 w: H/ J1958 $3 $6 0.6% Recession ended
5 T3 |' D1 n9 S" r) S6 G! q1959 $13 $8 2.4% Fed raised rates" B; z5 h1 ^, | v# `7 x0 W
1960 $0 $2 (0.1%) Recession
# d6 E! [$ P0 B) l1961 $3 $3 0.6% JFK & Bay of Pigs
1 X6 i9 A+ w7 ~+ D S1962 $7 $10 1.2% Cuban Missile Crisis8 {* e+ R S1 b5 k
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
0 y/ z& P% G% D, L$ |2 ~' K# ~1964 $6 $6 0.9% LBJ War on Poverty
, L* z" h- j3 }& f1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War2 f/ V j3 Z) ^/ @
1966 $4 $3 0.5% 1 v y: g+ U; S- q0 q
1967 $9 $6 1.0% Expansion
7 s! A1 {4 `% m E% x1 G. q1968 $25 $21 2.6% Moon landing
2 C; Z& ]+ i) g. s1969 ($3) $6 (0.3%) Nixon took office
" H% O( v/ a2 J# ~! h4 Y1970 $3 $17 0.3% Recession/ v1 v* @$ Y* ?- {
1971 $23 $27 2.0% Wage-price controls, f( U4 W7 k' X4 H7 d$ E1 L; u
1972 $23 $29 1.8% Stagflation
: D+ `0 K1 t+ M g# m1973 $15 $31 1.0% End of gold standard
3 V. p- R( H: s( E; c1974 $6 $17 0.4% Budget process created, Watergate
5 Z6 T4 m( Q( n: R1 K) T1975 $53 $58 3.1% Ford budget, Vietnam War ended
: I9 W( u( R, B- o7 M% _4 o" m1976 $74 $87 3.9% Stagflation, F+ E& a& S+ | I1 K$ h2 X. N
1977 $54 $78 2.5% Stagflation
! K6 M6 D$ n5 U: T6 v# }) M1978 $59 $73 2.5% Carter budget, Recession; I* E* P: }2 q0 j: E
1979 $41 $55 1.5% Recession
3 g4 U) z* p4 F1980 $74 $81 2.6% Volcker raised rates to 20%. P7 v: k, A$ Z
1981 $79 $90 2.4% Reagan tax cut
& I# N" R' J! Q+ c8 Z6 A1982 $128 $144 3.8% Reagan increased spending
4 D T; d( m" b- t d) _1983 $208 $235 5.6% Jobless rate was 10.8%
) B5 _" v5 u u1984 $185 $195 4.5% Increased defense spending
2 y0 u# \3 k' P( p1985 $212 $256 4.8% Increased defense spending& j! x) N* |' ?8 f
1986 $221 $297 4.8% Tax cut8 L5 z% y' g* V4 h
1987 $150 $225 3.1% Market crash6 Y( X8 |5 A1 o1 Q
1988 $155 $252 2.9% Fed raised rates
9 [0 J5 v) C1 e" v# o" v1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
: e' W5 ]8 S2 ^+ K# `1990 $221 $376 3.7% Desert Storm* e. b0 z, _* \2 u) S& F j
1991 $269 $432 4.3% Recession8 ~) w2 m3 w) i) b& z# K
1992 $290 $399 4.4% Expansion
0 ^: n6 ^8 w! W/ O! {1993 $255 $347 3.7% Clinton signed Budget Act# \$ v! x* B9 }# }' ]1 F. W) G
1994 $203 $281 2.8% Clinton budget7 p4 K0 ~! E3 w" q. X/ i
1995 $164 $281 2.1% Expansion
! z% _- c* ]' K2 X1 I$ F7 x1996 $107 $251 1.3% Welfare reform
1 @& [" |; z* x" J* d9 H0 J1997 $22 $188 0.3% Expansion) K$ J/ \/ s7 d2 Q+ G
1998 ($69) $113 (0.8%) LTCM crisis, recession- X! f' t3 h7 ~* E3 n. ]
1999 ($126) $130 (1.3%) Glass-Steagall repealed
% R: t9 X6 z; K) n! x+ C( ?2000 ($236) $18 (2.3%) Surplus
0 r7 T# R4 W" V" }2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
1 z( r- y. K) @7 d/ G( n+ K- K2002 $158 $421 1.4% War on Terror
g, W, v, V# w; O8 ]3 ] V2003 $378 $555 3.3% JGTRRA
! _, q! k$ J1 E: J0 |: p2004 $413 $596 3.4% Iraq War, p3 o+ u+ G3 T4 _
2005 $318 $554 2.4% Katrina, Bankruptcy Act( d* H- h, B! }# K; z4 o
2006 $248 $578 1.8% Bernanke chairs Fed
7 i4 \. q Q9 [, b, W7 g2007 $161 $501 1.1% Bank crisis
j* B$ l3 W/ E1 ]2008 $459 $1,017 3.1% Bank bailout, QE
$ P" J( g$ t z7 c& Q4 S; V2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
! z: V) X" _2 N L( K5 {8 d0 p2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles$ O/ v* _% X, R- D: i
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue1 n2 b" h U' |& J3 a
2012 $1,087 $1,276 6.7% Fiscal cliff
" G) g0 d8 ~$ n' }2013 $679 $672 4.0% Sequester, government shutdown
1 o2 v1 ^; e/ r& R2014 $485 $1,086 2.7% Debt ceiling9 J0 p3 y1 d6 y8 o: i( l' u: h4 o
2015 $438 $327 2.4% Defense = $736.4B- v7 _" w* ]4 c5 N
2016 $585 $1,423 3.1% Defense = $767.6B
# i. L i! e7 r; k2017 $665 $672 3.4% Defense = $817.9B& X% u$ m, @( |8 q( g8 m: s
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
3 L9 L3 s* M l2019 $1,091 $1,314 NA Defense = $956.5B
' r6 C1 j3 N3 O( ^( ]* X2020 $1,101 $1,281 NA Defense = $989B! x9 n4 }. T' ]0 `6 E: h# N
2021 $1,068 $1,276 NA NA
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