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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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' k+ t: W: l4 m/ d1 i. j! U; e7 g& `) b2020财年美国预算赤字预计为1.1万亿美元- s# D' E. X6 T- ~* ~. V9 Y* Q
& x+ e; B$ H) l- a4 w1 wThe 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.
0 ] M$ f/ y% ^. e& w4 A/ q 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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) b" C! `3 e: b3 ]Fiscal Year Deficit (in billions) Debt Deficit/GDP Events
, l2 i$ h; B; n4 R9 u6 g4 W& k1929 ($1) ($1) (0.7%) Market crash/ Q2 W4 k. u8 K8 f$ F
1930 ($1) ($1) (0.8%) Smoot-Hawley; W+ s Q' v+ n5 J
1931 $0 $1 0.6% Dust Bowl# m& Z: ~2 ]4 I5 w
1932 $3 $3 4.5% Hoover tax hike
( R; e& A+ V+ C# v% T4 h: |3 L! A. p" G1933 $3 $3 4.5% FDR New Deal
i+ w6 i, h; E' s1934 $4 $5 5.4% GDP up 10.8%, debt also rose1 f0 [4 a; [# ^. n0 c' L% `
1935 $3 $2 3.8% Social Security! a! v. ~" e* D
1936 $4 $5 5.1% Tax hikes2 J; F5 f3 b& m+ M# U
1937 $2 $3 2.4% Depression returned, third New Deal5 j/ H& J5 k2 v# q6 s' I2 g
1938 $0 $1 0.1% Dust Bowl ended
: a5 B* E V$ v1939 $3 $3 3.0% Depression ended$ D6 N) X$ m2 c/ H- M
1940 $3 $3 2.8% Defense increased
( f* R( q6 ~9 _5 a- d W' }" \5 t1941 $5 $6 3.8% Pearl Harbor& |' u; H; D ? L9 Q" }8 g$ G
1942 $21 $23 12.3% Battle of Midway Z0 O. M% v9 p2 Y- [
1943 $55 $64 26.9% Defense tripled7 V2 X0 U$ D! b
1944 $48 $64 21.2% Bretton Woods
5 e" X9 [" S# C5 ^2 s$ P3 B+ r9 k, j1945 $48 $58 20.0% WWII ended5 C% @. V% n- o' m T+ C, ]! e7 r
1946 $16 $11 7.0% Recession
* S4 t5 @- p4 W7 q" \3 X! X1947 ($4) ($11) (1.6%) Cold War6 C% L8 D' {8 R& u7 o
1948 ($12) ($6) (4.2%) Recession0 E o6 }/ D9 [$ U' _
1949 ($1) $0 (0.2%) Recession
2 w, |" s' h; M; O1950 $3 $5 1.0% Korean War
, @0 I2 E3 f$ J! U1951 ($6) ($2) (1.7%) Expansion9 O! b: n& B1 d8 `4 @
1952 $2 $4 0.4% Expansion
9 k' D' E1 |4 i# [9 q0 I4 O1953 $6 $7 1.7% Korean War ended, recession
- S! Z `1 X5 G( P- Y7 O1954 $1 $5 0.3% Recession, Eisenhower budgets
/ g0 o$ b- z4 G1955 $3 $3 0.7% Expansion
5 m1 a% f7 j9 E/ s1956 ($4) ($2) (0.9%) Expansion
' h V0 O9 J5 f% x+ m- o8 i1957 ($3) ($2) (0.7%) Recession0 n' c7 G+ @6 Z# e. w: b) i1 Y
1958 $3 $6 0.6% Recession ended
& G& n) n- G' z' o1959 $13 $8 2.4% Fed raised rates
2 M9 c0 X1 Z" ~. J7 j5 k7 S1960 $0 $2 (0.1%) Recession
; s9 P. F. U d- Q4 N, z J+ H1961 $3 $3 0.6% JFK & Bay of Pigs
# E8 G, J9 [6 ^8 B8 P) H% \1962 $7 $10 1.2% Cuban Missile Crisis
+ b( T+ l: |* h4 O7 s+ l& u$ m+ f: R1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
* g$ n6 `& J6 C7 W/ j. L5 f: p5 A1964 $6 $6 0.9% LBJ War on Poverty, y! m# {$ w$ |
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
6 q4 }* ?/ S. w0 B1966 $4 $3 0.5% ; v( ]% |+ V' s. S- I: i/ ]) W
1967 $9 $6 1.0% Expansion/ v6 j1 M+ I' A% X8 q% V$ S3 H
1968 $25 $21 2.6% Moon landing; k2 x1 s5 R/ D6 ~/ Y$ Q0 \
1969 ($3) $6 (0.3%) Nixon took office
. p/ s: f) B1 Y. O1 [9 ~" \' |' g1970 $3 $17 0.3% Recession6 V4 V1 T; S; F
1971 $23 $27 2.0% Wage-price controls+ R4 l/ k* C x& _7 G6 z% |
1972 $23 $29 1.8% Stagflation
( f! i% s( ]6 G6 J8 M! ?9 m. r: m1973 $15 $31 1.0% End of gold standard
" N1 }4 x( Z1 F7 {1974 $6 $17 0.4% Budget process created, Watergate E3 o/ M: N) ?7 ?5 q# @
1975 $53 $58 3.1% Ford budget, Vietnam War ended
# l) y+ `3 ?9 t1976 $74 $87 3.9% Stagflation
5 \9 n# s; \. `4 p- m' x1977 $54 $78 2.5% Stagflation
* q% c) e& g. ~7 D1978 $59 $73 2.5% Carter budget, Recession, O1 {3 E. s9 T
1979 $41 $55 1.5% Recession
2 V5 J) O) F/ w0 H7 h) z) e& {1980 $74 $81 2.6% Volcker raised rates to 20%
' w# p6 @8 J5 ~, {& U+ e1981 $79 $90 2.4% Reagan tax cut/ |+ S1 p& R, ~; }$ l
1982 $128 $144 3.8% Reagan increased spending
0 |) n5 z2 j2 U+ G1983 $208 $235 5.6% Jobless rate was 10.8%# l0 }, c4 Y0 ~) W8 s/ A
1984 $185 $195 4.5% Increased defense spending. v" P: l! R% e; A' K
1985 $212 $256 4.8% Increased defense spending- B7 f7 K3 z* [; `* O
1986 $221 $297 4.8% Tax cut: }8 {( _8 s# J% r3 C$ Y0 n! d
1987 $150 $225 3.1% Market crash
* _8 W8 `" b d1988 $155 $252 2.9% Fed raised rates0 ~. Z- S+ g9 @) e# r, ], u
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget3 r! l, h9 r! ~/ |$ o
1990 $221 $376 3.7% Desert Storm# c. Y1 l. h9 s+ u( ?
1991 $269 $432 4.3% Recession8 q! N, d, q+ c1 C2 T( ^: F
1992 $290 $399 4.4% Expansion3 M7 U( u8 X) {) w
1993 $255 $347 3.7% Clinton signed Budget Act
, H5 U1 L7 x2 G) j. H* _1994 $203 $281 2.8% Clinton budget
3 z- e9 _. d4 r# P1995 $164 $281 2.1% Expansion
& |: f6 ~( ~5 A% v1996 $107 $251 1.3% Welfare reform
/ f" {/ `- M, K0 q1 O' d$ ?1997 $22 $188 0.3% Expansion
0 l' o Z' n. n5 B2 Y3 k3 i1998 ($69) $113 (0.8%) LTCM crisis, recession
' _- |" L! J( e# G1999 ($126) $130 (1.3%) Glass-Steagall repealed
2 I- D }. k2 U& c l3 k2000 ($236) $18 (2.3%) Surplus
( U7 S# t) X* _7 r2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
" N2 Z2 u$ t5 Q* ~( A- j: b2002 $158 $421 1.4% War on Terror
0 |- d# j; s# w. c: _ A2003 $378 $555 3.3% JGTRRA0 v2 a0 v! V8 _' y. j
2004 $413 $596 3.4% Iraq War
5 R. D( W/ u1 y9 i0 D2005 $318 $554 2.4% Katrina, Bankruptcy Act
' c! e3 F/ j' x2006 $248 $578 1.8% Bernanke chairs Fed
; {4 I5 m% @! |2007 $161 $501 1.1% Bank crisis: c: Z: F' b" P8 ^4 o% i
2008 $459 $1,017 3.1% Bank bailout, QE
2 w& w/ ^' E5 B2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
9 I0 S. _) n- V$ o, a2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles2 p& @3 Q& h4 G% N/ P# \
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
* c1 N- P1 S9 }# F2012 $1,087 $1,276 6.7% Fiscal cliff4 C' }+ }) O0 ^8 W% {
2013 $679 $672 4.0% Sequester, government shutdown
2 ~( ]. i# a0 k2 Y# C2014 $485 $1,086 2.7% Debt ceiling) ^( g( ~ u& o" p- f; I' f- x
2015 $438 $327 2.4% Defense = $736.4B) X: R& q& x9 l4 B }
2016 $585 $1,423 3.1% Defense = $767.6B9 C4 J: M. \: H- H# X9 B# v( n; X. @
2017 $665 $672 3.4% Defense = $817.9B
" K1 O/ Y" K* G2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts3 W. f: i8 D" V; m
2019 $1,091 $1,314 NA Defense = $956.5B
2 k6 |% L4 R, b$ Q' O: C2020 $1,101 $1,281 NA Defense = $989B
) Z Y$ Y; M( \ F. N; P) Y2021 $1,068 $1,276 NA NA- }* h3 Q \8 m: K1 @6 A( R
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