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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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4 W1 J9 j0 C$ f) |# w2020财年美国预算赤字预计为1.1万亿美元
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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.: B" _- A$ ~9 N
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" ~2 b, x3 o+ c" I8 k
1929 ($1) ($1) (0.7%) Market crash; p7 |, Y k( C4 G% }# T: X
1930 ($1) ($1) (0.8%) Smoot-Hawley( _: C# d, ?- ?. @) f# p7 a9 R
1931 $0 $1 0.6% Dust Bowl
: b- \1 _. U' Y1932 $3 $3 4.5% Hoover tax hike: M: `0 h& p/ a/ p9 L% q2 h
1933 $3 $3 4.5% FDR New Deal& ?; T2 l7 a! _5 \# \
1934 $4 $5 5.4% GDP up 10.8%, debt also rose
" ]) t0 J! Z/ m. j. Y; d1935 $3 $2 3.8% Social Security
% ]. t. r! o- I1936 $4 $5 5.1% Tax hikes
1 s$ w- b( e/ K6 O1937 $2 $3 2.4% Depression returned, third New Deal: R( t, T( O5 N- k
1938 $0 $1 0.1% Dust Bowl ended6 }* x' A, \: l \8 I3 C2 F
1939 $3 $3 3.0% Depression ended
; w0 n! [4 }) f; E1940 $3 $3 2.8% Defense increased
0 B; w: |6 L, }" {& o Y, ~1941 $5 $6 3.8% Pearl Harbor
, l4 ^4 }. ]1 S( N( ?* e1942 $21 $23 12.3% Battle of Midway8 @0 ~. `8 A% Y5 E
1943 $55 $64 26.9% Defense tripled
4 z. x" j: i: m1 z. ]' Q# T: u1944 $48 $64 21.2% Bretton Woods0 j3 v7 e1 R4 K w6 L' D
1945 $48 $58 20.0% WWII ended" d$ \2 U" h" p" X
1946 $16 $11 7.0% Recession
3 R) t' h8 {* a# C; H. P; q1947 ($4) ($11) (1.6%) Cold War
' e; r4 X/ w) o6 p) V7 ^1 Q1948 ($12) ($6) (4.2%) Recession- i9 R/ g% T7 N- ?+ i8 }! h t
1949 ($1) $0 (0.2%) Recession
5 @6 w1 V$ T7 K R8 J4 g; l1950 $3 $5 1.0% Korean War
5 ?6 ]: t- J5 {" t1951 ($6) ($2) (1.7%) Expansion" g# A, e7 T. W& f1 H7 D8 G
1952 $2 $4 0.4% Expansion
8 p# j" r: n: q' _1953 $6 $7 1.7% Korean War ended, recession" @! R* f$ K5 w" q+ c/ W
1954 $1 $5 0.3% Recession, Eisenhower budgets3 M4 W1 v6 G, X# |4 V' J, T
1955 $3 $3 0.7% Expansion. ~) v$ {! Z( W* c4 d
1956 ($4) ($2) (0.9%) Expansion
1 ^1 O& D5 @ T8 L9 S1 T2 G D1957 ($3) ($2) (0.7%) Recession
, ~7 S" R( ^0 u+ l1958 $3 $6 0.6% Recession ended* X" k% @) P8 j6 r8 ]. J
1959 $13 $8 2.4% Fed raised rates
+ m% Y5 ^9 G6 ~3 w$ [1960 $0 $2 (0.1%) Recession# F) |7 k% K+ q$ @4 D
1961 $3 $3 0.6% JFK & Bay of Pigs
9 y6 R$ D5 l7 X0 P- V7 F1962 $7 $10 1.2% Cuban Missile Crisis
! t! ?" }$ e& q7 y, U1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
- T6 C# Q% z8 _7 \+ J% R1964 $6 $6 0.9% LBJ War on Poverty5 {$ W3 X, N8 [5 L% L! z
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War- s W4 R0 Z4 D1 f. v1 L
1966 $4 $3 0.5% ! T' w; c- d5 C. i
1967 $9 $6 1.0% Expansion, i2 b$ C& f. ^% l( R% G8 J3 e9 ~+ l: H; C
1968 $25 $21 2.6% Moon landing( ]+ i, e2 L& b4 D- S
1969 ($3) $6 (0.3%) Nixon took office: {. w4 v: @! {9 P8 x, i. q
1970 $3 $17 0.3% Recession M, F6 I" O8 D6 q* `
1971 $23 $27 2.0% Wage-price controls
5 X- a* S5 ?3 D1972 $23 $29 1.8% Stagflation5 w# K, e1 l$ @
1973 $15 $31 1.0% End of gold standard) I) m c* q8 c; g
1974 $6 $17 0.4% Budget process created, Watergate
2 G* t& M# m7 h1 B4 U5 H2 n1975 $53 $58 3.1% Ford budget, Vietnam War ended+ m2 E" W+ }( O3 ?. _5 y- W
1976 $74 $87 3.9% Stagflation7 P* ^# `" z7 R; M j
1977 $54 $78 2.5% Stagflation8 G* {! @9 Q! l* Q. \% ]
1978 $59 $73 2.5% Carter budget, Recession3 d0 t4 r- }# Q. K5 w5 c
1979 $41 $55 1.5% Recession
# y% g5 [7 v3 H+ @( ^1980 $74 $81 2.6% Volcker raised rates to 20%
6 p t- e7 X+ C8 T: G+ l5 K- _1981 $79 $90 2.4% Reagan tax cut
' b$ u( x: w. {1982 $128 $144 3.8% Reagan increased spending7 ?& Q6 L5 p6 c, d
1983 $208 $235 5.6% Jobless rate was 10.8%
6 T2 d$ v' Y- P6 L& z& x1984 $185 $195 4.5% Increased defense spending* l, L# }# Y% v9 d* u
1985 $212 $256 4.8% Increased defense spending4 p2 l" G! | ]
1986 $221 $297 4.8% Tax cut
+ q4 t% A% ?4 z1 z8 C# l, a7 {7 K1987 $150 $225 3.1% Market crash; q6 x Z" A+ s9 E
1988 $155 $252 2.9% Fed raised rates5 }; E2 O' C, j0 W: e
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget3 e3 d* b0 E( H6 G& W2 ]
1990 $221 $376 3.7% Desert Storm
+ P. `& T1 g9 C7 j2 z( D$ M1991 $269 $432 4.3% Recession( {4 }3 Y. Z2 M- l
1992 $290 $399 4.4% Expansion! ^& \0 C% E. L2 ^; B, a
1993 $255 $347 3.7% Clinton signed Budget Act0 y* ?/ D$ L' b5 X' J( P! x# z5 n
1994 $203 $281 2.8% Clinton budget
+ ]7 r1 d$ p1 O8 v* M1995 $164 $281 2.1% Expansion
- r m6 F8 _5 v# Y& L: @1996 $107 $251 1.3% Welfare reform0 O. r8 r1 @! n5 [
1997 $22 $188 0.3% Expansion
9 f9 t2 [% F) Q" P1998 ($69) $113 (0.8%) LTCM crisis, recession
' f& _1 `. [/ r/ h# O5 Y) N& @1999 ($126) $130 (1.3%) Glass-Steagall repealed! g$ K0 {; S9 Q9 s
2000 ($236) $18 (2.3%) Surplus
+ V) n' A1 j8 ~2 ^, Q1 |2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA6 `6 E, B3 G9 x+ h" S3 o; X
2002 $158 $421 1.4% War on Terror) w7 E; m: U w0 U- ]
2003 $378 $555 3.3% JGTRRA
I+ P6 \0 A- x2004 $413 $596 3.4% Iraq War5 o1 Y0 i/ ~0 G" \" F$ P( f
2005 $318 $554 2.4% Katrina, Bankruptcy Act
0 G1 P) B/ X( N2 ?% @2006 $248 $578 1.8% Bernanke chairs Fed
: d; \. C% {- W4 c9 g2007 $161 $501 1.1% Bank crisis
: t+ T( K" }$ M1 G5 s' J6 a2008 $459 $1,017 3.1% Bank bailout, QE
& } H# i$ _8 }3 ~+ j Q, o2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B3 r# r2 C J% Y7 D" o0 D0 b
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles* U% Y6 e, M8 \8 I! j2 r8 l2 a
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue6 x7 a7 n' U- d5 e5 q, v- \6 M
2012 $1,087 $1,276 6.7% Fiscal cliff
- O/ y) B3 _ ~2013 $679 $672 4.0% Sequester, government shutdown
! ^5 J' G; @6 z2014 $485 $1,086 2.7% Debt ceiling6 [4 A7 U/ Q2 t" l0 f
2015 $438 $327 2.4% Defense = $736.4B
}0 b; f$ N/ s. c5 ~4 ]2016 $585 $1,423 3.1% Defense = $767.6B S) U# X2 Y$ u6 C+ l2 H
2017 $665 $672 3.4% Defense = $817.9B
4 ?; I8 s& G4 i2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
# T1 D6 E' s% K/ E# `, q. E2019 $1,091 $1,314 NA Defense = $956.5B
! o" v+ o# E3 m8 {6 G; H/ {2020 $1,101 $1,281 NA Defense = $989B4 |1 Y* [8 X5 J
2021 $1,068 $1,276 NA NA$ ^) }4 P$ S) t: @
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