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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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2020财年美国预算赤字预计为1.1万亿美元6 x4 c/ @8 r, b, b/ f" A) p1 v
; q! R/ G9 H& zThe first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.
! L7 D8 A% Q; E: k9 `9 e$ ?" q 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9 p3 M9 }( \/ X- e
0 k6 u5 F1 w9 h: s$ rFiscal Year Deficit (in billions) Debt Deficit/GDP Events. l" d! q2 T$ c5 f* j: v8 H
1929 ($1) ($1) (0.7%) Market crash) o* U8 Y( `# T( M2 z! T, I
1930 ($1) ($1) (0.8%) Smoot-Hawley
_5 ^! d$ ]* k" J/ H1931 $0 $1 0.6% Dust Bowl
$ p, P( j) a3 z5 d* P9 a3 m" a1932 $3 $3 4.5% Hoover tax hike
! K: i) n% U- D- a J- N2 ]. s2 `1933 $3 $3 4.5% FDR New Deal
7 c) L5 f# v0 h% O# l1934 $4 $5 5.4% GDP up 10.8%, debt also rose
: v2 V V* q7 J9 v2 H/ m1935 $3 $2 3.8% Social Security7 ?( J3 M; y; x! T9 k
1936 $4 $5 5.1% Tax hikes
% w/ p5 Y& d( f- y2 t1937 $2 $3 2.4% Depression returned, third New Deal
& A7 _- q8 e; B& q5 [$ y1938 $0 $1 0.1% Dust Bowl ended s* ? l8 u0 B# W& o5 }& y* Y- Q: I
1939 $3 $3 3.0% Depression ended5 d" r% o* C7 \! j3 M3 t) x3 `2 R
1940 $3 $3 2.8% Defense increased
7 S6 K9 S. @5 t+ o7 N r0 F1941 $5 $6 3.8% Pearl Harbor( b3 y* m! q7 T! _2 D6 X
1942 $21 $23 12.3% Battle of Midway0 O1 T; N% V1 B) C# Y
1943 $55 $64 26.9% Defense tripled
9 r4 {: i, _* y1944 $48 $64 21.2% Bretton Woods
; A1 S* c/ ?- ]+ F2 o, S1945 $48 $58 20.0% WWII ended
- x2 u8 q0 ^; E+ O1946 $16 $11 7.0% Recession7 F7 t2 E( A* V0 n' X" o
1947 ($4) ($11) (1.6%) Cold War
8 N$ ~& t1 A( o1948 ($12) ($6) (4.2%) Recession4 x$ L: _6 v7 h- e5 q+ f: X5 G4 y2 v
1949 ($1) $0 (0.2%) Recession# `& a6 E8 R. p4 M" G0 f7 J
1950 $3 $5 1.0% Korean War
1 Q8 L, i- @' J; z$ W* M7 d1951 ($6) ($2) (1.7%) Expansion
A, |$ _ O% m$ h' P" j1952 $2 $4 0.4% Expansion/ J! M4 U. v* }) p& w* X- X
1953 $6 $7 1.7% Korean War ended, recession
& K0 B6 n) J2 W6 E# B4 h1954 $1 $5 0.3% Recession, Eisenhower budgets
# v: y t- K7 c6 U, ~1955 $3 $3 0.7% Expansion
+ h! Q- w1 _' s5 U1 f1956 ($4) ($2) (0.9%) Expansion
6 ?8 g3 w% K% U) T" |1957 ($3) ($2) (0.7%) Recession
( X) U8 F! P, B0 @0 o1958 $3 $6 0.6% Recession ended
' ^. O. ~$ L7 I4 r; ^; m1959 $13 $8 2.4% Fed raised rates
& d1 L) l( x2 q3 U1 E5 d2 I1960 $0 $2 (0.1%) Recession& h8 S, R6 i4 U3 L
1961 $3 $3 0.6% JFK & Bay of Pigs9 l5 U" r) i% j+ e" ~
1962 $7 $10 1.2% Cuban Missile Crisis l. ^$ M; F, E4 l5 @
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
! t2 M7 `, v1 S. v" I) Q1964 $6 $6 0.9% LBJ War on Poverty" Z" Z! J4 Q# k) H( W* b
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
0 z' w9 }: F% x% P* L7 {* Y. @1966 $4 $3 0.5%
5 R( e& t" S! K8 B; d3 D1 Q1967 $9 $6 1.0% Expansion: ?& m* C6 X* u. K
1968 $25 $21 2.6% Moon landing
9 x0 k1 G, h! C1969 ($3) $6 (0.3%) Nixon took office
1 X' R4 D- K5 m2 ^1970 $3 $17 0.3% Recession
: E5 a' \- L' Y! K$ P) h: f1971 $23 $27 2.0% Wage-price controls# B4 v' K3 Q% j v; k, Z3 L
1972 $23 $29 1.8% Stagflation b+ K2 p% W; q" a2 G
1973 $15 $31 1.0% End of gold standard
. F6 h6 c% d- I e+ ~1974 $6 $17 0.4% Budget process created, Watergate
3 y; Y* ^% q# h7 w1975 $53 $58 3.1% Ford budget, Vietnam War ended
' f- ?' b2 f) j Y- N1976 $74 $87 3.9% Stagflation/ ^, b. E) N7 |: E- c
1977 $54 $78 2.5% Stagflation- K: Q9 f% Q, B9 U
1978 $59 $73 2.5% Carter budget, Recession
! P5 x6 s+ o/ F! f$ g( S1979 $41 $55 1.5% Recession
/ M( Z o* `; `1980 $74 $81 2.6% Volcker raised rates to 20%- J$ [" A+ C. Y# j+ M
1981 $79 $90 2.4% Reagan tax cut
9 i {$ a/ F3 X: l: V1982 $128 $144 3.8% Reagan increased spending, u/ a: h5 x* T+ S2 `
1983 $208 $235 5.6% Jobless rate was 10.8%
H( T0 W% p0 K& N! \, j7 W9 B, |9 P6 s1984 $185 $195 4.5% Increased defense spending
4 X2 M3 d, N$ y3 \1985 $212 $256 4.8% Increased defense spending6 b$ L8 S$ B, m# K4 w5 H
1986 $221 $297 4.8% Tax cut6 E! ^8 R( Z3 W0 G; T# ^
1987 $150 $225 3.1% Market crash3 p9 L6 m" ?# a( A: j4 @ z. U
1988 $155 $252 2.9% Fed raised rates
: u/ W! q4 z7 J$ O1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
( K2 @. t4 U( t1990 $221 $376 3.7% Desert Storm8 P5 L4 q0 g: r& w8 w- s0 @6 L! T: a
1991 $269 $432 4.3% Recession
0 B9 v4 d: U$ {+ _( E9 e1992 $290 $399 4.4% Expansion8 M9 m$ t M, i
1993 $255 $347 3.7% Clinton signed Budget Act0 w" j! D: I- W6 T1 D+ P
1994 $203 $281 2.8% Clinton budget
' c6 B$ |6 d0 d4 K* M& G1995 $164 $281 2.1% Expansion' \7 w, q, R8 f; H/ l* T
1996 $107 $251 1.3% Welfare reform5 a5 w6 G9 i( b
1997 $22 $188 0.3% Expansion& Q$ \( z- A7 J1 x2 ^
1998 ($69) $113 (0.8%) LTCM crisis, recession
4 H/ `* l4 M/ z- [1 o' {& H( U1999 ($126) $130 (1.3%) Glass-Steagall repealed
5 [7 }9 t2 w: @. W1 x- W2000 ($236) $18 (2.3%) Surplus
- `& a( |0 m f% w. E6 O2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA7 E% ^1 E% Z# v) ?9 |
2002 $158 $421 1.4% War on Terror
$ k, ^# i! T W8 M' V3 X/ t2003 $378 $555 3.3% JGTRRA0 G1 M1 m2 t! ]2 V; b
2004 $413 $596 3.4% Iraq War
, m' k% K# X' o7 d% H2 @! q2005 $318 $554 2.4% Katrina, Bankruptcy Act3 } g3 s' C6 P
2006 $248 $578 1.8% Bernanke chairs Fed
# n6 z) L6 l: k7 v9 b2 z& t, M2007 $161 $501 1.1% Bank crisis$ n( x7 ?4 |! C/ W" @0 u9 i* f5 W3 f: r
2008 $459 $1,017 3.1% Bank bailout, QE0 [: ^6 p3 \; ?& v- }( r1 R2 q
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B" a8 o7 d7 T2 s6 ^( \# q8 W
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles$ W6 F) ^1 t2 v
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
' V3 }( _. O1 p2 z' Q2012 $1,087 $1,276 6.7% Fiscal cliff
( } Q+ G8 ]: B I0 h; u/ e2013 $679 $672 4.0% Sequester, government shutdown
) m/ C& f' n7 U0 ~4 C' }2014 $485 $1,086 2.7% Debt ceiling0 _! w4 I: R1 W
2015 $438 $327 2.4% Defense = $736.4B
) h" t2 E2 n# q, D+ b0 c# m1 P% p$ {2016 $585 $1,423 3.1% Defense = $767.6B
+ \/ K, \1 A3 h0 E. a2017 $665 $672 3.4% Defense = $817.9B$ \. L j+ _* y6 O6 e
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts+ u$ @, m' l2 o! L6 e* c6 J
2019 $1,091 $1,314 NA Defense = $956.5B/ d/ n1 }9 S8 S7 T
2020 $1,101 $1,281 NA Defense = $989B$ X" b8 b; o/ {* D. |
2021 $1,068 $1,276 NA NA" o) d3 ?% P1 M* ]! s
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