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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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! Z5 c c# b' q2020财年美国预算赤字预计为1.1万亿美元2 j9 ?, s$ r6 Z. `
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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.
( q, r U- y- X, x5 E, _* z 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* f' U9 _! M6 J3 ^5 z
/ w/ c6 t0 l- S+ CFiscal Year Deficit (in billions) Debt Deficit/GDP Events: @" M4 g$ n5 \4 P
1929 ($1) ($1) (0.7%) Market crash4 Y% h# |6 ?+ D2 P# I' v& d
1930 ($1) ($1) (0.8%) Smoot-Hawley
' `; S( D1 U9 P$ i$ Z3 c1931 $0 $1 0.6% Dust Bowl
. t/ n" _5 ?, @ I( ?+ N7 H3 _1932 $3 $3 4.5% Hoover tax hike
$ t7 W4 U3 ] b; P1933 $3 $3 4.5% FDR New Deal
; R+ y7 B# ` I' ^3 ^, j1934 $4 $5 5.4% GDP up 10.8%, debt also rose4 Y2 S1 ?& z9 T8 V* I3 J3 a
1935 $3 $2 3.8% Social Security
7 B$ K3 o( {4 j1 y1936 $4 $5 5.1% Tax hikes3 Y5 C6 v! {$ H+ g
1937 $2 $3 2.4% Depression returned, third New Deal
/ J" r% s) p# ~. b1938 $0 $1 0.1% Dust Bowl ended i. T# H6 I4 [
1939 $3 $3 3.0% Depression ended% }8 i& q; _4 _8 C% b" q
1940 $3 $3 2.8% Defense increased
) W% m2 ~5 Z( ^ W1941 $5 $6 3.8% Pearl Harbor
) \ M+ W& z6 `1942 $21 $23 12.3% Battle of Midway! r- h O. a( P1 ]
1943 $55 $64 26.9% Defense tripled
# L# M& f/ O: R; G1944 $48 $64 21.2% Bretton Woods+ p2 S% Z4 i4 X4 v9 D8 u P9 U! I
1945 $48 $58 20.0% WWII ended
. y7 W: D4 s! i i0 U1946 $16 $11 7.0% Recession
: R% k# V! v1 a+ M& Y- U1947 ($4) ($11) (1.6%) Cold War
, W- b* |7 H8 w/ ~' Q1948 ($12) ($6) (4.2%) Recession- B/ Y+ C$ ?1 y. R9 q7 ]
1949 ($1) $0 (0.2%) Recession6 {. T" e8 ~1 B( y
1950 $3 $5 1.0% Korean War
. f! P, `1 [( p' Y6 s1951 ($6) ($2) (1.7%) Expansion
) `. U/ |4 s% ?, Q3 H1952 $2 $4 0.4% Expansion
; r. k0 [' V* I/ E+ r2 Q: b) N3 o3 d7 O1953 $6 $7 1.7% Korean War ended, recession6 }# W2 ~& X! b k, G7 y
1954 $1 $5 0.3% Recession, Eisenhower budgets9 q4 F: F8 A H
1955 $3 $3 0.7% Expansion9 ]- X3 Y" ]- x* A0 \
1956 ($4) ($2) (0.9%) Expansion
+ t2 s! x$ P9 L1957 ($3) ($2) (0.7%) Recession$ S5 f% f3 d2 S
1958 $3 $6 0.6% Recession ended
2 H0 s/ N# u2 [+ I/ [0 G1959 $13 $8 2.4% Fed raised rates
: D9 E* B) Q" f0 B5 J+ `5 V" k1960 $0 $2 (0.1%) Recession
3 r* X/ |7 ^% x2 l7 `% b1961 $3 $3 0.6% JFK & Bay of Pigs
( D+ v6 K" W1 A( n9 ?3 V1962 $7 $10 1.2% Cuban Missile Crisis
, O7 V2 T; r. Q1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed7 N* o0 g2 C" |! g( W/ W; A r
1964 $6 $6 0.9% LBJ War on Poverty
t( _+ f' b" @1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
9 s- l' _% b1 V7 x6 W1966 $4 $3 0.5%
4 B8 `' m: t4 ^" {1967 $9 $6 1.0% Expansion
+ n/ M& m: o0 r9 |# X" x1968 $25 $21 2.6% Moon landing, O* ?3 R. r( g, i3 R( L
1969 ($3) $6 (0.3%) Nixon took office
9 G, s* h3 o1 a, w7 ~" P b4 d d5 {! S) i1970 $3 $17 0.3% Recession$ O2 z5 P: z9 |- a6 ]7 S
1971 $23 $27 2.0% Wage-price controls
/ Z6 A; ? R" X1972 $23 $29 1.8% Stagflation
/ f* q4 ?3 ? y8 e- l( t) [) _1973 $15 $31 1.0% End of gold standard6 ]- o3 W9 Q5 ~; W7 V% R# ?
1974 $6 $17 0.4% Budget process created, Watergate
! D0 @- D$ W) j) g8 h: D9 W1975 $53 $58 3.1% Ford budget, Vietnam War ended. |2 b; }4 ?4 [& t- q2 I
1976 $74 $87 3.9% Stagflation
9 P5 W" E3 T0 c. c3 P: R1977 $54 $78 2.5% Stagflation
% Z* }* R8 d0 C- Q$ G# X1978 $59 $73 2.5% Carter budget, Recession
0 H: l* K# P8 N' k1979 $41 $55 1.5% Recession
" v8 Z9 T2 B8 b4 H6 A0 I0 V/ s- E# I1980 $74 $81 2.6% Volcker raised rates to 20%
x1 j$ G, \, l! _( i; m1981 $79 $90 2.4% Reagan tax cut3 R4 @+ U+ Q0 i
1982 $128 $144 3.8% Reagan increased spending
; ?: R% B! y$ ~6 C+ I I& P1983 $208 $235 5.6% Jobless rate was 10.8%
! {! U- h g% { H: M( ?+ Q1984 $185 $195 4.5% Increased defense spending
5 \5 E) O) T b+ ^$ `1985 $212 $256 4.8% Increased defense spending
' t, H8 l" f) F: g# m' E- `1986 $221 $297 4.8% Tax cut5 A# |/ x) K( \5 c! S5 I
1987 $150 $225 3.1% Market crash6 K, N, F) T* O: j: C6 s
1988 $155 $252 2.9% Fed raised rates
! G: e7 {2 [& }! D* f7 Z) q5 k1989 $153 $255 2.7% S&L Crisis, Bush 41 budget9 G) c. Q. @; q D/ _
1990 $221 $376 3.7% Desert Storm9 _- Y$ j, `$ Q5 B+ ]9 m4 l9 G
1991 $269 $432 4.3% Recession
- W4 R$ D/ w3 M1 \( K' e1992 $290 $399 4.4% Expansion+ y; Y5 t/ l: n1 A/ i/ u
1993 $255 $347 3.7% Clinton signed Budget Act
6 q1 v" s7 w: [/ w6 a: g+ F1994 $203 $281 2.8% Clinton budget
U& e. v j- ^ E7 r, y1995 $164 $281 2.1% Expansion* J/ [+ w$ D6 s) T2 I" s8 Q1 Y% @
1996 $107 $251 1.3% Welfare reform% o5 Y3 s5 R8 `; ]7 C9 ?- y' L
1997 $22 $188 0.3% Expansion$ ?0 [1 j# c h4 I
1998 ($69) $113 (0.8%) LTCM crisis, recession2 l9 @7 ]3 W$ z3 X& d
1999 ($126) $130 (1.3%) Glass-Steagall repealed6 _: O3 ?' @* B6 @2 Y! w
2000 ($236) $18 (2.3%) Surplus
+ y+ g% O# j: h% O3 n1 L3 e2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
& m" ]- Z; w6 E6 P+ X. ~& v! B2002 $158 $421 1.4% War on Terror7 A/ I6 ? i, _. I l, Y
2003 $378 $555 3.3% JGTRRA
, E0 N! E' R. ^# f2004 $413 $596 3.4% Iraq War
) \4 t ]# e! N2005 $318 $554 2.4% Katrina, Bankruptcy Act
7 B% Z' b* X, K! I8 d: u* f2006 $248 $578 1.8% Bernanke chairs Fed
( W$ h0 i$ r ?. i0 i3 e2 T2007 $161 $501 1.1% Bank crisis; [0 R! f1 v1 k" ^0 a& V
2008 $459 $1,017 3.1% Bank bailout, QE
x9 ^9 u/ |) N& C. E2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B/ X8 d! Z) ^+ L! _( Y- ?! u
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles" ^8 S6 Z3 t1 v8 a
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
h) W5 w2 S; B9 ~2012 $1,087 $1,276 6.7% Fiscal cliff2 C! ]. z/ v1 a' X4 N5 h2 T/ w
2013 $679 $672 4.0% Sequester, government shutdown7 ]5 O. m, N* c. n
2014 $485 $1,086 2.7% Debt ceiling
9 J7 D: ^+ u# \; q7 G. e2015 $438 $327 2.4% Defense = $736.4B
4 b; j$ w% L3 \: m* |' i" P2016 $585 $1,423 3.1% Defense = $767.6B) \ ~ a M+ \+ C4 I8 v
2017 $665 $672 3.4% Defense = $817.9B1 s% S( y) r2 P8 \5 }" F. V
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
6 S, ]7 U2 P5 T% V3 G) u2019 $1,091 $1,314 NA Defense = $956.5B$ W( t7 s9 t8 f4 A
2020 $1,101 $1,281 NA Defense = $989B
& D# n U3 f" N, @- ?2021 $1,068 $1,276 NA NA
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