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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion. * F* B+ b+ V( F4 o# z
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2020财年美国预算赤字预计为1.1万亿美元4 U0 ?6 R/ y7 U/ w! w
( B9 p) N0 Q k- q& D+ 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.
$ B3 _' G; b" k9 u. X 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. R. J: g3 O1 S
5 K$ q; R. k1 s" p, j8 U1 sFiscal Year Deficit (in billions) Debt Deficit/GDP Events! s# G1 y k8 C' y: E/ s
1929 ($1) ($1) (0.7%) Market crash) D5 b; u" S* o2 \
1930 ($1) ($1) (0.8%) Smoot-Hawley
7 O, B8 X/ q$ a: W" Z* T7 J" ]# M1931 $0 $1 0.6% Dust Bowl
& \& R) x7 T# X" \7 I1932 $3 $3 4.5% Hoover tax hike
* y- ?! B' i; W4 |8 u1933 $3 $3 4.5% FDR New Deal6 M& x B$ m% G4 p) m+ }# V* L! G
1934 $4 $5 5.4% GDP up 10.8%, debt also rose' m( [1 v4 A c6 }
1935 $3 $2 3.8% Social Security$ `7 T) M: V4 o7 W; g8 ^' W
1936 $4 $5 5.1% Tax hikes+ F8 ?! v% Y+ J6 Y$ t/ v
1937 $2 $3 2.4% Depression returned, third New Deal7 K! O2 Y/ r6 ^& U; q; w- U
1938 $0 $1 0.1% Dust Bowl ended
$ q' ^! b$ I2 |% J* I( l1939 $3 $3 3.0% Depression ended- ^1 s7 \: G! d% l5 w' W9 }/ d% e
1940 $3 $3 2.8% Defense increased
* L7 L# t0 g0 q' Z! a" W% I1941 $5 $6 3.8% Pearl Harbor
+ B H' ^8 t" w" Q: N1942 $21 $23 12.3% Battle of Midway
7 s/ p, r8 i+ L, m1943 $55 $64 26.9% Defense tripled# E6 B8 l% {4 A( v5 d1 |
1944 $48 $64 21.2% Bretton Woods
! W4 u4 R% x' W& Z1 q1945 $48 $58 20.0% WWII ended
* W4 `4 u) Y: q: ^6 T( u1946 $16 $11 7.0% Recession
7 T+ C4 C% m" j; o. _1 i; ^3 z1947 ($4) ($11) (1.6%) Cold War/ s+ Q2 m R1 h* d" [" Y% P" J
1948 ($12) ($6) (4.2%) Recession. r. C$ C; @- m
1949 ($1) $0 (0.2%) Recession
1 A9 T! g0 @. G1950 $3 $5 1.0% Korean War
% R4 e+ a. z2 o1951 ($6) ($2) (1.7%) Expansion& s( d; ^. l* S2 ~, q
1952 $2 $4 0.4% Expansion
( W- K+ Q4 j2 P4 b$ A4 G1953 $6 $7 1.7% Korean War ended, recession
|0 \9 l& |+ X% f3 l0 ~1954 $1 $5 0.3% Recession, Eisenhower budgets# n# g& l7 @/ @, J: P- n- u# ?
1955 $3 $3 0.7% Expansion
% f: \4 {$ i# P. |1 Q& s1956 ($4) ($2) (0.9%) Expansion
" J, o0 @$ X3 G5 f$ Z+ K0 k1957 ($3) ($2) (0.7%) Recession" D6 I. \- I2 M* W4 R
1958 $3 $6 0.6% Recession ended
2 S8 Y3 T. V) q1959 $13 $8 2.4% Fed raised rates- O3 Q' \% J! W
1960 $0 $2 (0.1%) Recession
0 I( q' {" z9 k7 {1961 $3 $3 0.6% JFK & Bay of Pigs$ Z5 ?( [+ k3 o0 n" }0 a$ m
1962 $7 $10 1.2% Cuban Missile Crisis
) u3 P: ?) Z2 c7 Z: Y% `, u1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed4 f h9 O, t+ o5 C2 I
1964 $6 $6 0.9% LBJ War on Poverty
/ o( C, q; K |) F+ G5 O4 w* C1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War0 T, z6 ? B1 D3 i2 e0 @
1966 $4 $3 0.5% ; \" m5 F; q" G
1967 $9 $6 1.0% Expansion
1 x7 ?/ G0 _) O8 X4 q1968 $25 $21 2.6% Moon landing
9 m6 b) w) c! G1 S( n1969 ($3) $6 (0.3%) Nixon took office+ n7 ~& k7 b! c; z0 \( D1 R9 V
1970 $3 $17 0.3% Recession) A; m7 n) s2 m" @' f1 _& _/ x5 j
1971 $23 $27 2.0% Wage-price controls
' Z+ S6 B3 F1 ]$ m1972 $23 $29 1.8% Stagflation6 e( z: ~. @9 F+ S
1973 $15 $31 1.0% End of gold standard
) N. `2 l' Y4 z1 {, R1974 $6 $17 0.4% Budget process created, Watergate
" F* z L; _3 j4 v; u1975 $53 $58 3.1% Ford budget, Vietnam War ended
* J: K: V1 @" L# H) d# G1976 $74 $87 3.9% Stagflation1 q p! q6 x+ g% q A
1977 $54 $78 2.5% Stagflation9 j n9 s! i0 f k# H6 f
1978 $59 $73 2.5% Carter budget, Recession3 @) h& m3 A& K; g) w3 X: |
1979 $41 $55 1.5% Recession1 ^' a7 V/ M/ K% c, ?$ U3 A$ e
1980 $74 $81 2.6% Volcker raised rates to 20%
) U3 i& _* o ?1981 $79 $90 2.4% Reagan tax cut8 W( i) B* W6 Z4 f4 M; M! q1 N
1982 $128 $144 3.8% Reagan increased spending
. R) v) W. W/ h- q1983 $208 $235 5.6% Jobless rate was 10.8%" L' B! H- ]" U6 U" `. ]9 \; W( }
1984 $185 $195 4.5% Increased defense spending& m( A, h" U. I6 a h
1985 $212 $256 4.8% Increased defense spending( b1 u( s: W' R) M7 v+ m
1986 $221 $297 4.8% Tax cut" P; X6 J- t+ R6 l, o$ s! p+ m V# {
1987 $150 $225 3.1% Market crash6 |0 f; e! L# u) s+ W5 `5 u% c
1988 $155 $252 2.9% Fed raised rates6 C" J, @, Z8 Y
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget7 C; M5 S4 ^% d9 }$ x e- m
1990 $221 $376 3.7% Desert Storm
) V# Q# N- u8 E1991 $269 $432 4.3% Recession
; V" _9 [$ r+ ?. s% o9 m$ a1992 $290 $399 4.4% Expansion
& J1 _) I7 i% `1 h; r0 `( N3 X1993 $255 $347 3.7% Clinton signed Budget Act- J7 r6 `" r6 Y0 z0 h
1994 $203 $281 2.8% Clinton budget
+ x6 u7 y$ z+ W; i8 y( W1995 $164 $281 2.1% Expansion
" ?' H. @+ y5 R& x1996 $107 $251 1.3% Welfare reform
; }5 E% E/ n1 C( o! m1997 $22 $188 0.3% Expansion
. j0 C" C% F7 m. y+ T1998 ($69) $113 (0.8%) LTCM crisis, recession2 T) w% c8 G$ t& t) v
1999 ($126) $130 (1.3%) Glass-Steagall repealed$ t4 p4 |$ C: `' Z# y: B
2000 ($236) $18 (2.3%) Surplus
# A. ]% Y, S G1 d7 b. F2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
1 w/ U! X* S& Q) C8 J7 |+ f+ H2002 $158 $421 1.4% War on Terror1 ?7 t- G; L% e6 |- x4 ?, x
2003 $378 $555 3.3% JGTRRA5 ^& B- y: h4 g
2004 $413 $596 3.4% Iraq War- ~5 f# \, {9 ^5 O) P/ x1 q1 f
2005 $318 $554 2.4% Katrina, Bankruptcy Act6 l( ~" z3 V( B% p0 R" `. [( \
2006 $248 $578 1.8% Bernanke chairs Fed; X. L3 |* n6 N7 r. j6 O
2007 $161 $501 1.1% Bank crisis% @! G. \: v5 M4 g+ [ V
2008 $459 $1,017 3.1% Bank bailout, QE* _* @& T, j, |/ y
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B* v2 e) |. a- k* n/ E( a+ w
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
' ^- | m2 J M6 u/ V. c2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
- I" z8 g+ Y. T7 R2012 $1,087 $1,276 6.7% Fiscal cliff
3 E* I; O7 J( U/ E% H2013 $679 $672 4.0% Sequester, government shutdown" E8 P6 B! h4 e) }9 C& |
2014 $485 $1,086 2.7% Debt ceiling, l# q1 q2 h$ P4 M9 O$ `3 @0 b
2015 $438 $327 2.4% Defense = $736.4B! @" F5 _- P& p
2016 $585 $1,423 3.1% Defense = $767.6B7 ?' |- k8 \3 J/ \5 r8 O
2017 $665 $672 3.4% Defense = $817.9B
% o. T0 w v. p( _2 [! c" H Y6 `2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts* P! d: U8 n1 P2 v( Q* _& V2 p8 f
2019 $1,091 $1,314 NA Defense = $956.5B$ N) u6 M& X% o8 n1 t" i' N$ X0 Y
2020 $1,101 $1,281 NA Defense = $989B4 _2 c5 }2 z- p ?9 m9 V
2021 $1,068 $1,276 NA NA
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