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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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2 I/ L% y, \# r' q2020财年美国预算赤字预计为1.1万亿美元
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The first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.
. d# K* y( t4 u" a4 ^ 第一列表示会计年度，其次是该年度的赤字（十亿）。其次是财政年度的债务增加，其次是赤字/ GDP。最后，列举了影响赤字的事件4 n" h" ^$ r; _+ h) l3 E5 g
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Fiscal Year Deficit (in billions) Debt Deficit/GDP Events* |; q1 ~9 m# |: \' G' Q. B) C) Y
1929 ($1) ($1) (0.7%) Market crash8 x, w: q& L% j
1930 ($1) ($1) (0.8%) Smoot-Hawley ^' o2 ]# N+ H: }' W9 x* f- q* H
1931 $0 $1 0.6% Dust Bowl
0 c/ E5 M, o, Z! t5 C: S+ w1932 $3 $3 4.5% Hoover tax hike
+ { z5 a# t7 A9 z; o1933 $3 $3 4.5% FDR New Deal
F6 t/ _6 g" V* z$ I8 P+ ]1934 $4 $5 5.4% GDP up 10.8%, debt also rose; }$ v0 e8 |! J9 T9 e6 i
1935 $3 $2 3.8% Social Security; l" n- R7 i3 |: ~7 {
1936 $4 $5 5.1% Tax hikes! Y- [! @2 _4 U9 s# [/ d
1937 $2 $3 2.4% Depression returned, third New Deal
0 ~( @* Z- O9 A7 V1 b1938 $0 $1 0.1% Dust Bowl ended: I: @" ~3 C' z: U5 I8 ?, [
1939 $3 $3 3.0% Depression ended
7 ?1 p7 w$ e. @1 Q, p1940 $3 $3 2.8% Defense increased7 r0 W6 K. ?, P: Q; B- W. ~
1941 $5 $6 3.8% Pearl Harbor6 w& p5 l C; `" J4 o5 \
1942 $21 $23 12.3% Battle of Midway
4 O! X; R% c* k7 O/ `1 C+ s4 y1943 $55 $64 26.9% Defense tripled
U; C) @' D8 N% W8 v; ~+ g1944 $48 $64 21.2% Bretton Woods
) `+ A9 G; L, R' f2 n4 J+ o2 {1945 $48 $58 20.0% WWII ended
; j* V5 b0 z" ]8 w1946 $16 $11 7.0% Recession5 m3 i$ _3 a* K+ x9 {/ J
1947 ($4) ($11) (1.6%) Cold War; `3 s5 Z' C# {4 m S1 D& V5 ^
1948 ($12) ($6) (4.2%) Recession* u* E, c4 q$ K
1949 ($1) $0 (0.2%) Recession! g* [0 \' B0 s2 s9 {3 \/ n" W
1950 $3 $5 1.0% Korean War/ t7 b$ Z/ z. h; g& y; ?% y1 a. X
1951 ($6) ($2) (1.7%) Expansion; z! J% ]% A' E( z6 A* |9 R7 q S1 z }3 B
1952 $2 $4 0.4% Expansion
+ l$ x0 f, X$ ?1 r) C1953 $6 $7 1.7% Korean War ended, recession
1 T" C5 Q1 ~( M1954 $1 $5 0.3% Recession, Eisenhower budgets
$ _9 ]4 U2 `5 b7 Q( e7 q {1955 $3 $3 0.7% Expansion7 B0 X& z8 y0 p
1956 ($4) ($2) (0.9%) Expansion4 w Q, g& }: x+ ?$ x, }
1957 ($3) ($2) (0.7%) Recession1 ^5 |4 }# V7 x/ n
1958 $3 $6 0.6% Recession ended+ ^3 q5 w- y' I+ u0 V
1959 $13 $8 2.4% Fed raised rates
+ |: t+ a7 {$ Q7 ]/ y3 ^1960 $0 $2 (0.1%) Recession
, e- j, C# u% X- f, Q: V1961 $3 $3 0.6% JFK & Bay of Pigs
5 m8 @. J2 r8 e" O3 a5 `. r8 C1962 $7 $10 1.2% Cuban Missile Crisis
( B% K" a/ U7 {' }. Y+ v# e/ U1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
5 A9 E' I( P8 W" ]1964 $6 $6 0.9% LBJ War on Poverty+ }9 {# U% z+ P* U9 u- f" i
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War# {) [$ a. c6 A* S0 V
1966 $4 $3 0.5%
" U+ B/ ~& S% c9 w1 f. L4 o8 g1967 $9 $6 1.0% Expansion
0 k! |* x5 G) k" a0 Z* `7 x/ K1968 $25 $21 2.6% Moon landing/ r/ W+ k7 ^/ z. K
1969 ($3) $6 (0.3%) Nixon took office
; }4 |5 B/ E5 \ Y: K3 M* x1970 $3 $17 0.3% Recession
3 S& I( v' a5 H) x2 v' D) [* G1971 $23 $27 2.0% Wage-price controls
' N) Y7 D. c" [/ e9 d. k' b/ L/ k1972 $23 $29 1.8% Stagflation! Q3 j& z6 n' G8 `$ } C
1973 $15 $31 1.0% End of gold standard& I8 y* F3 Y2 c) E+ _
1974 $6 $17 0.4% Budget process created, Watergate
! }: I5 ], A2 W1975 $53 $58 3.1% Ford budget, Vietnam War ended& z2 G7 t/ L) }& k4 P0 r6 p) H
1976 $74 $87 3.9% Stagflation
; g4 K3 H( j' k3 w% @& O" Q9 y1977 $54 $78 2.5% Stagflation3 E4 x4 ^5 x; I8 E" E
1978 $59 $73 2.5% Carter budget, Recession# s0 P0 ~1 S; F1 o6 A% W
1979 $41 $55 1.5% Recession
, z" x/ g; ?8 i6 @1 |1980 $74 $81 2.6% Volcker raised rates to 20%8 r4 q9 W; ?9 U/ O( u2 R
1981 $79 $90 2.4% Reagan tax cut
! a% }( w. Q3 m3 Q$ E% E$ n1982 $128 $144 3.8% Reagan increased spending* T& T+ l2 z2 v L! m5 G6 x
1983 $208 $235 5.6% Jobless rate was 10.8%
- b6 u0 E4 O& K! e# l6 `1984 $185 $195 4.5% Increased defense spending) v( f: V/ K5 {2 E8 i& C
1985 $212 $256 4.8% Increased defense spending
) N9 k6 J; N4 H2 p3 W+ ]* Z7 D1986 $221 $297 4.8% Tax cut
7 X8 }" v5 n9 ]# S6 ]1987 $150 $225 3.1% Market crash
: V7 q9 g; q% y Y1988 $155 $252 2.9% Fed raised rates; c+ ?: \8 |- f' H
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget, ]' N6 C% |' \, d" v
1990 $221 $376 3.7% Desert Storm
2 h2 \/ H' W; j# X1991 $269 $432 4.3% Recession
& \) ~6 t- ]2 \* E3 g3 m1992 $290 $399 4.4% Expansion' m6 r3 g7 w& U" Z5 L6 A# g& z
1993 $255 $347 3.7% Clinton signed Budget Act
0 ^# L1 T& v0 s5 Y2 F1994 $203 $281 2.8% Clinton budget: N7 [3 r7 m/ c' ^
1995 $164 $281 2.1% Expansion
, K2 H( B6 ]- s' X1996 $107 $251 1.3% Welfare reform5 c1 Y2 \ g! C! R% e
1997 $22 $188 0.3% Expansion2 j) h/ T2 d n
1998 ($69) $113 (0.8%) LTCM crisis, recession: K, `9 c+ \& o/ G
1999 ($126) $130 (1.3%) Glass-Steagall repealed% F- H; J2 R5 D+ g, C
2000 ($236) $18 (2.3%) Surplus
3 h% [' ~& ~. O2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA- Q! x/ |+ V0 X; y$ H+ ?
2002 $158 $421 1.4% War on Terror) n7 e8 d; t: n& ?
2003 $378 $555 3.3% JGTRRA2 M6 d! H/ T+ g
2004 $413 $596 3.4% Iraq War
) N8 g3 a$ V4 V/ P6 y: w2 A2005 $318 $554 2.4% Katrina, Bankruptcy Act
7 F8 w5 h3 V+ n7 W. T' l2006 $248 $578 1.8% Bernanke chairs Fed) X9 p6 P) i8 z9 H* z) A1 R2 \
2007 $161 $501 1.1% Bank crisis$ u' J' z3 B. A9 n+ H7 a* o1 E' o
2008 $459 $1,017 3.1% Bank bailout, QE
2 ]/ x/ x; M% {6 X& B e! V3 c; E2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B2 p% S/ F) r" {1 a$ i
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles# o" n: W4 Y. d5 f0 e" K
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue& Q- t, X' M% ~; \5 H
2012 $1,087 $1,276 6.7% Fiscal cliff5 T' T6 G) S$ J; J
2013 $679 $672 4.0% Sequester, government shutdown: a& v/ C, E }2 E
2014 $485 $1,086 2.7% Debt ceiling) R$ D* t9 z% `
2015 $438 $327 2.4% Defense = $736.4B
, k+ t8 U1 e, _3 f/ @$ a/ q2016 $585 $1,423 3.1% Defense = $767.6B
/ n/ C5 I/ N4 M: X7 I" N D0 }+ i N2017 $665 $672 3.4% Defense = $817.9B
* E1 H1 {' A7 |4 T1 @2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts6 [3 u8 ~! O7 D2 @. [; x
2019 $1,091 $1,314 NA Defense = $956.5B7 l$ f0 w, W- f: [- a7 S9 d' K$ N
2020 $1,101 $1,281 NA Defense = $989B
2 E7 |4 j. O1 n- W6 t2021 $1,068 $1,276 NA NA
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