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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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( w' Z7 e6 ~) j {" k3 v$ O; d2020财年美国预算赤字预计为1.1万亿美元6 K) x" l5 U$ E
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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.
. o( n2 S/ ]' h, l' Q& N' g \! G 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
5 `6 |7 h# B7 g% s" r5 p A. c& E- ~1929 ($1) ($1) (0.7%) Market crash
; N( l2 E- v. Y1930 ($1) ($1) (0.8%) Smoot-Hawley
# p e; P; k6 Y1931 $0 $1 0.6% Dust Bowl
. [0 @+ v+ R1 l8 z1932 $3 $3 4.5% Hoover tax hike2 C7 R2 U' p+ E. K1 y
1933 $3 $3 4.5% FDR New Deal/ e8 |0 ^" G K7 `
1934 $4 $5 5.4% GDP up 10.8%, debt also rose
( T) Z! f$ z6 X4 I2 i/ g5 F1935 $3 $2 3.8% Social Security
# Y2 u+ n' G- N5 V0 E; @3 W1936 $4 $5 5.1% Tax hikes
* E- K5 X3 y% h# x' L1937 $2 $3 2.4% Depression returned, third New Deal* }/ A2 H( q# Y4 h5 X7 z# }% U
1938 $0 $1 0.1% Dust Bowl ended
8 B# R6 T e: r4 W# L1 e* T5 W+ F1939 $3 $3 3.0% Depression ended* ~! m3 t/ O7 o6 T) O* n- V% {( R
1940 $3 $3 2.8% Defense increased4 i. e5 v' e) C& l) p
1941 $5 $6 3.8% Pearl Harbor
$ L+ l" P; C; r2 B1942 $21 $23 12.3% Battle of Midway% D. z6 y- ~( F# [
1943 $55 $64 26.9% Defense tripled3 A/ Y' _: ~# I$ P D
1944 $48 $64 21.2% Bretton Woods
1 t- t6 k# y8 ~1945 $48 $58 20.0% WWII ended8 \" i d: }) I5 y* c& N/ w% F
1946 $16 $11 7.0% Recession, g' Z: L6 S) Q
1947 ($4) ($11) (1.6%) Cold War
+ ^. }4 e+ R! r9 v* j1948 ($12) ($6) (4.2%) Recession
8 {2 H& j# ]) O: B1 V9 {1949 ($1) $0 (0.2%) Recession
; z7 N2 q9 S/ p$ m* c8 v1950 $3 $5 1.0% Korean War
& o3 f: |- |) b' J* _1 P1951 ($6) ($2) (1.7%) Expansion$ t" `3 n3 [0 s- r( Q
1952 $2 $4 0.4% Expansion
8 \: l1 A; A( C2 x, @1953 $6 $7 1.7% Korean War ended, recession% e7 }2 _7 E" I
1954 $1 $5 0.3% Recession, Eisenhower budgets
5 @' A1 E( c' @: y" B: H4 P1955 $3 $3 0.7% Expansion
8 I) Z5 e; y, G9 |1956 ($4) ($2) (0.9%) Expansion
0 n. h( O9 S* _ n' y; z7 m1957 ($3) ($2) (0.7%) Recession
4 ?( b' ]' N E1 \5 [* }1958 $3 $6 0.6% Recession ended* |: M* x8 Z4 x; R
1959 $13 $8 2.4% Fed raised rates6 R3 X) u- E% h/ H8 }8 S9 \; k
1960 $0 $2 (0.1%) Recession
6 v' P9 i7 j. V/ r; g1961 $3 $3 0.6% JFK & Bay of Pigs" V# J! g: Y5 Z" @! o8 I. o, R
1962 $7 $10 1.2% Cuban Missile Crisis1 v: \" q' o7 W- \4 F. U1 ]
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
8 h: h8 _9 X4 Q( V# O: H( ]1964 $6 $6 0.9% LBJ War on Poverty4 A# n" R/ Y3 q9 V
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War& p# o. P3 x7 i! P
1966 $4 $3 0.5% ( M1 ^8 F# D- ? _/ E7 w+ }
1967 $9 $6 1.0% Expansion! W2 W/ r/ q- i3 ]9 C9 J
1968 $25 $21 2.6% Moon landing1 i7 E6 D* S- X& J8 F$ y
1969 ($3) $6 (0.3%) Nixon took office$ r0 R. d. I. I, {9 V/ s
1970 $3 $17 0.3% Recession4 p) T( W* U- u4 x
1971 $23 $27 2.0% Wage-price controls9 T2 X: J# F2 g8 O! S/ v P9 d
1972 $23 $29 1.8% Stagflation2 P9 d. I7 }% o( N
1973 $15 $31 1.0% End of gold standard* s; e5 ?$ z# q$ |; U8 u
1974 $6 $17 0.4% Budget process created, Watergate1 Y. J& ]. w7 y5 w$ F
1975 $53 $58 3.1% Ford budget, Vietnam War ended
$ |4 v0 Q: m$ c1 R" e1976 $74 $87 3.9% Stagflation3 B/ _7 \& @/ I% c$ R
1977 $54 $78 2.5% Stagflation
9 X0 L+ d W, C4 _0 D1978 $59 $73 2.5% Carter budget, Recession
" E; C+ N' B8 ~+ _: e1979 $41 $55 1.5% Recession! }: V, b" R! S' e5 Z* B
1980 $74 $81 2.6% Volcker raised rates to 20%
6 U7 \2 | l; o: I' g. L7 ?1981 $79 $90 2.4% Reagan tax cut8 L0 u6 o1 Y& L: q# v
1982 $128 $144 3.8% Reagan increased spending
" R/ C+ E3 L6 G1 h1983 $208 $235 5.6% Jobless rate was 10.8%
0 B; M! c* C# i% `3 Y1984 $185 $195 4.5% Increased defense spending
; O" M; e2 ]4 s1985 $212 $256 4.8% Increased defense spending
8 V% E% d0 Z) U( ?5 Q# k7 O1 }& c* @1986 $221 $297 4.8% Tax cut
2 J& M: z2 T% w# h1987 $150 $225 3.1% Market crash
8 U s$ S" u% D3 d1988 $155 $252 2.9% Fed raised rates
9 y" J% Y: q. Z' [4 P# v, G/ P1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
j3 d* D0 z7 \% |3 N) @: T N7 c1990 $221 $376 3.7% Desert Storm" ?4 w, k# w; L+ }+ g( p
1991 $269 $432 4.3% Recession' A A0 t' x# k' Z% a
1992 $290 $399 4.4% Expansion
7 r& p+ n9 l7 _) {# c1993 $255 $347 3.7% Clinton signed Budget Act) c- K f `7 e% c
1994 $203 $281 2.8% Clinton budget6 L, Y: ^; s; N& P y+ d a7 G
1995 $164 $281 2.1% Expansion: X* c1 e; u" K1 W. c
1996 $107 $251 1.3% Welfare reform7 O5 \% h) a" g" h5 W
1997 $22 $188 0.3% Expansion
5 |7 w# T/ @! l' W" _) q. B) w1998 ($69) $113 (0.8%) LTCM crisis, recession& w% G' V! d6 v3 G! b
1999 ($126) $130 (1.3%) Glass-Steagall repealed
/ Y+ ?+ K+ m, y9 r7 v2000 ($236) $18 (2.3%) Surplus
+ o) k7 A2 m) T4 l- G. d2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA; i2 {( ?5 a1 L; @& a
2002 $158 $421 1.4% War on Terror
! n! U# S+ L% u+ I0 o3 Z; ]2003 $378 $555 3.3% JGTRRA, d8 c' i& p; _4 w
2004 $413 $596 3.4% Iraq War
3 c" S4 Q- z3 P2005 $318 $554 2.4% Katrina, Bankruptcy Act
( U5 J7 _9 w% r" H& e1 r4 w+ |2006 $248 $578 1.8% Bernanke chairs Fed
' s" G0 h* g& Q Q& V3 p) f- F2007 $161 $501 1.1% Bank crisis
2 g Y& E8 [/ Y2008 $459 $1,017 3.1% Bank bailout, QE/ \6 Y/ f/ ^: i6 u
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
2 W6 I7 e' r. z% Y0 r1 V, W2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles" h" j4 n( r* X
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue) X: m- Q; [. ?& I$ P
2012 $1,087 $1,276 6.7% Fiscal cliff9 s7 O* J8 P+ }5 q5 `1 ~
2013 $679 $672 4.0% Sequester, government shutdown! {0 T: F, A) t% v. @, a4 I
2014 $485 $1,086 2.7% Debt ceiling
+ w! h. f3 U, K3 E! S$ |2015 $438 $327 2.4% Defense = $736.4B
2 T I) Y& P: B3 |3 W3 @& ^2016 $585 $1,423 3.1% Defense = $767.6B
. k. v+ j: n3 }$ e8 c6 p2017 $665 $672 3.4% Defense = $817.9B0 A5 f3 ~/ A c; U, ^7 r
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts9 z$ D' N& @$ k. X% \
2019 $1,091 $1,314 NA Defense = $956.5B. c5 [8 j2 W e% B
2020 $1,101 $1,281 NA Defense = $989B+ z6 p+ ~7 a0 V% Z! H& t
2021 $1,068 $1,276 NA NA& Q- m* _% n: _+ I0 f7 s) W" A
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