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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion. - C% a+ Q8 ~( \2 d& F
, f1 v3 H9 e4 O" c( V2020财年美国预算赤字预计为1.1万亿美元
+ Y% r5 t/ D! E4 I' N+ Z% U Y7 T! X2 j( S! x3 ]
The first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.
* h% a2 A! O, p$ R/ C 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
* a" _% i; i2 }9 u; M# O1929 ($1) ($1) (0.7%) Market crash) ?9 d- a1 F' w/ D
1930 ($1) ($1) (0.8%) Smoot-Hawley& l0 R2 K* t, V( d, [
1931 $0 $1 0.6% Dust Bowl/ \# ?7 v- D" d- @0 w* M3 H
1932 $3 $3 4.5% Hoover tax hike* k% {. d! I+ x4 s
1933 $3 $3 4.5% FDR New Deal
. {: M3 ?7 S2 `9 A$ ?0 {8 |7 ]5 e4 J$ s1934 $4 $5 5.4% GDP up 10.8%, debt also rose! D# d) Y5 Q$ A$ W
1935 $3 $2 3.8% Social Security- G4 U! A" |# m; V
1936 $4 $5 5.1% Tax hikes
. P: \2 g, G$ V" P+ o! d1937 $2 $3 2.4% Depression returned, third New Deal, F' t/ {$ o: k: ]
1938 $0 $1 0.1% Dust Bowl ended
7 c0 P( _+ }% V; p1939 $3 $3 3.0% Depression ended
& b( S8 l+ M/ _$ G1940 $3 $3 2.8% Defense increased" T- Y* G- ?4 ]) Y, V" `
1941 $5 $6 3.8% Pearl Harbor
2 B" i5 _! ?+ K5 L$ j/ l1942 $21 $23 12.3% Battle of Midway2 R5 c6 r7 F4 v" l: T8 O
1943 $55 $64 26.9% Defense tripled/ u" C1 {7 S/ V2 }- t6 ~
1944 $48 $64 21.2% Bretton Woods5 l5 a. I( Q" H
1945 $48 $58 20.0% WWII ended0 o7 p- Z v7 x; E
1946 $16 $11 7.0% Recession
0 n; s7 \' Q2 D6 V7 k1947 ($4) ($11) (1.6%) Cold War
- H& j0 L) J' |/ o' `% T, e1948 ($12) ($6) (4.2%) Recession
3 h! g+ x# w3 X: Y% a6 L' h1949 ($1) $0 (0.2%) Recession, o0 f. a, Y0 i' {
1950 $3 $5 1.0% Korean War9 e9 w( J, N4 T0 u& I( V
1951 ($6) ($2) (1.7%) Expansion
, ]/ i! Q- O% L3 T1952 $2 $4 0.4% Expansion( l" E& a# \' T K' a U4 c
1953 $6 $7 1.7% Korean War ended, recession
2 P: _! p0 k: m: k: G5 ^& Y/ ?8 @1954 $1 $5 0.3% Recession, Eisenhower budgets( p+ a+ y. Y! r
1955 $3 $3 0.7% Expansion; B! Z& e1 b: @8 h# j0 c- Z
1956 ($4) ($2) (0.9%) Expansion
' `. H! P, P Z/ k1957 ($3) ($2) (0.7%) Recession, @; c& R; j- u
1958 $3 $6 0.6% Recession ended$ B9 k% b) a7 j2 Y- u
1959 $13 $8 2.4% Fed raised rates
- @$ c; ^9 w& B4 S, `1960 $0 $2 (0.1%) Recession
( m9 X9 l' J! U$ M8 M1 W1961 $3 $3 0.6% JFK & Bay of Pigs
; P! n. N, k1 k& L1962 $7 $10 1.2% Cuban Missile Crisis% K; W" @7 X: N p, @% ^
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
' j5 A+ U% x0 p) Q# I2 t" e1964 $6 $6 0.9% LBJ War on Poverty
4 F" o) C$ w$ W; A- x% j1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War( L: E1 ?- ~& ^8 G9 E
1966 $4 $3 0.5%
( w& e' u5 V! `9 q1967 $9 $6 1.0% Expansion
8 _9 l* H$ o/ d9 _* [1968 $25 $21 2.6% Moon landing
* |4 V5 ]& m5 o4 v2 [& d$ E1969 ($3) $6 (0.3%) Nixon took office
/ O o- n3 R3 ]& @1970 $3 $17 0.3% Recession
5 Y& {( ?# h$ L1971 $23 $27 2.0% Wage-price controls
* d6 E2 s6 J8 c1 Q& J; C1972 $23 $29 1.8% Stagflation) X* o! i6 b5 N1 Q* t
1973 $15 $31 1.0% End of gold standard
! E3 u0 E( w" U* r( P3 g6 M* u1974 $6 $17 0.4% Budget process created, Watergate
) j/ N0 O7 r8 P4 P! N: e1975 $53 $58 3.1% Ford budget, Vietnam War ended
3 H, p) w& B: _' s1976 $74 $87 3.9% Stagflation
. t9 v7 a- V+ c9 J- b6 m1 }! I0 i1977 $54 $78 2.5% Stagflation
2 E ^+ R6 @$ j- O. u% }- X( G1978 $59 $73 2.5% Carter budget, Recession6 I @ ^4 V; t" X! M1 x4 E# q
1979 $41 $55 1.5% Recession
0 z, \5 b; W" _1980 $74 $81 2.6% Volcker raised rates to 20%0 n8 H m: _- e D% S6 S; I
1981 $79 $90 2.4% Reagan tax cut
4 g. z. X+ o2 i' Z; n1982 $128 $144 3.8% Reagan increased spending
; t7 i7 j. |1 X; s" Y% a G' w1983 $208 $235 5.6% Jobless rate was 10.8%& {* y, C9 R* U: b5 N
1984 $185 $195 4.5% Increased defense spending9 @- I# }" M9 N4 X" A4 ~! f
1985 $212 $256 4.8% Increased defense spending
$ F9 }# F, N( D" ~1986 $221 $297 4.8% Tax cut# s* L7 R0 g; ?% R7 ~
1987 $150 $225 3.1% Market crash
4 i& s& Y, w( i# `% K- O; q1988 $155 $252 2.9% Fed raised rates) E& a6 c4 T5 ]
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
( X: e3 w' V( Y& @1990 $221 $376 3.7% Desert Storm
_+ N% A4 s2 R1991 $269 $432 4.3% Recession; h [) d% ^8 v: R2 K K& L
1992 $290 $399 4.4% Expansion
9 Z5 ]1 D2 Z3 Y' p* T* ]7 Z% o1993 $255 $347 3.7% Clinton signed Budget Act
- i: o5 l& ~3 P( |! u1994 $203 $281 2.8% Clinton budget9 m% d- O7 J* t% y. e2 `$ M# _
1995 $164 $281 2.1% Expansion0 l$ {- H/ w+ N5 W$ Q8 s
1996 $107 $251 1.3% Welfare reform8 O1 }- n6 D, j2 ]! Y' S
1997 $22 $188 0.3% Expansion% T" ^' f) p* z
1998 ($69) $113 (0.8%) LTCM crisis, recession! t6 S, X5 N; _$ X9 G
1999 ($126) $130 (1.3%) Glass-Steagall repealed3 I! Q f7 R$ ?) T' p! p1 f; l3 a
2000 ($236) $18 (2.3%) Surplus2 A' [6 \. G' P9 d5 D8 j9 k
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
! Z! u. K4 [% Q2002 $158 $421 1.4% War on Terror' W/ R# e9 D* J( x2 B0 w r3 K
2003 $378 $555 3.3% JGTRRA
; `- g! E/ t I6 ~4 R2004 $413 $596 3.4% Iraq War
o4 }% {( y0 I' M4 n) t2005 $318 $554 2.4% Katrina, Bankruptcy Act
% e+ M/ x5 M% I2006 $248 $578 1.8% Bernanke chairs Fed
# V" I- x, O1 S [( s2007 $161 $501 1.1% Bank crisis
9 Y9 `! m. X5 \- p3 \" Q2008 $459 $1,017 3.1% Bank bailout, QE2 k- _) v+ k2 N; d( ^
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
3 R1 l/ F5 e: k7 T4 }* e6 N1 s2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles0 R" t% H9 S# P2 W/ u$ o" G
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue7 n3 H8 }# ?( l- P# M8 ]' Q* ]4 d
2012 $1,087 $1,276 6.7% Fiscal cliff! }# B3 h# }( Q
2013 $679 $672 4.0% Sequester, government shutdown8 V4 ~& p3 a- G
2014 $485 $1,086 2.7% Debt ceiling, B5 C% f6 J9 s
2015 $438 $327 2.4% Defense = $736.4B8 }, B5 |* }+ y' E) x3 j7 `
2016 $585 $1,423 3.1% Defense = $767.6B% F6 ^# l4 l9 B* p6 S
2017 $665 $672 3.4% Defense = $817.9B' Z \0 F; C5 h
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts6 H+ {) k$ W5 ]. u8 R
2019 $1,091 $1,314 NA Defense = $956.5B
8 `( R" Q* p4 P2020 $1,101 $1,281 NA Defense = $989B
6 C" h8 L4 k; J$ e2021 $1,068 $1,276 NA NA) Q( m6 v" y% O, \! s
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