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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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8 g7 N! Q6 r6 e1 n2020财年美国预算赤字预计为1.1万亿美元; O( x) ~% q# A5 L3 g
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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.
3 m" |8 ^0 \7 z) o 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+ W" `) q5 ]4 _
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Fiscal Year Deficit (in billions) Debt Deficit/GDP Events. i: p, N* e) U+ S
1929 ($1) ($1) (0.7%) Market crash
( Y+ M- Q; K5 @& x7 Z1930 ($1) ($1) (0.8%) Smoot-Hawley- M% ~+ O4 S% k% A$ y
1931 $0 $1 0.6% Dust Bowl$ W6 T' {! `, ~9 ? x
1932 $3 $3 4.5% Hoover tax hike
; Y% |, ?) G( z7 X- ~! W* g- X1933 $3 $3 4.5% FDR New Deal
! g5 j7 I$ m# ]0 n& z1934 $4 $5 5.4% GDP up 10.8%, debt also rose5 V& Z0 k% T u' Y
1935 $3 $2 3.8% Social Security7 d4 L; ~4 v W) L3 S; f
1936 $4 $5 5.1% Tax hikes8 |, X. x) j7 C, S) s( N
1937 $2 $3 2.4% Depression returned, third New Deal
- D0 @: s+ r7 n4 y1938 $0 $1 0.1% Dust Bowl ended8 _: U2 H8 @9 C% v) H Q" ~
1939 $3 $3 3.0% Depression ended
8 Q, D- ]- @3 `0 c* |1940 $3 $3 2.8% Defense increased# e/ F) w6 O; I7 B' x6 D$ o
1941 $5 $6 3.8% Pearl Harbor5 M0 y" v4 n9 g
1942 $21 $23 12.3% Battle of Midway
+ K/ x! Q/ d# b) U. w1943 $55 $64 26.9% Defense tripled& ` s& |; v0 X* Y9 t- L4 U& A
1944 $48 $64 21.2% Bretton Woods8 ^6 Y4 w7 Y+ E/ K, g
1945 $48 $58 20.0% WWII ended
e/ I3 |- @7 k) C1946 $16 $11 7.0% Recession: X0 p- [1 K1 U
1947 ($4) ($11) (1.6%) Cold War# S) S% L, I/ t8 p4 x( s
1948 ($12) ($6) (4.2%) Recession
+ B# d# p7 [1 u8 _1949 ($1) $0 (0.2%) Recession
% `, H4 E/ u% [( F' a1950 $3 $5 1.0% Korean War. Y* w2 m% B: x0 \1 m w
1951 ($6) ($2) (1.7%) Expansion
6 R% c- z f2 W1952 $2 $4 0.4% Expansion# C+ Y- v9 l0 F1 a
1953 $6 $7 1.7% Korean War ended, recession
" y+ [: x% L# W+ A& P. X, I* W8 N1954 $1 $5 0.3% Recession, Eisenhower budgets
4 ?# u9 u+ g3 J2 q1955 $3 $3 0.7% Expansion2 o. G, L1 L3 M' u6 o/ q
1956 ($4) ($2) (0.9%) Expansion/ }, S$ v+ J% d9 Z4 I: Y
1957 ($3) ($2) (0.7%) Recession
: i" Z. W h$ C% X- o8 [1958 $3 $6 0.6% Recession ended, a4 J6 n/ |+ o, p
1959 $13 $8 2.4% Fed raised rates
0 d# Z4 b: Y3 n* Z g' i1960 $0 $2 (0.1%) Recession
1 W" l: ^, I6 e+ u2 Z" I1961 $3 $3 0.6% JFK & Bay of Pigs
* I$ C6 W6 w0 T& o% m1962 $7 $10 1.2% Cuban Missile Crisis4 P5 W/ S$ n" G# U! V
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed9 J! ]5 D: ?4 b5 V
1964 $6 $6 0.9% LBJ War on Poverty" O' z" G. k* A1 J
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War$ v+ A9 w5 B4 r
1966 $4 $3 0.5%
/ i: L" W: s! C6 }! Y1967 $9 $6 1.0% Expansion! w1 D$ ?# Q" {2 V& h/ \
1968 $25 $21 2.6% Moon landing
! V/ t! q! m& S1969 ($3) $6 (0.3%) Nixon took office, s: @' B5 v6 E# _' r% K( v( R! t& G6 l
1970 $3 $17 0.3% Recession
7 |3 B* Q G0 Y% t2 j8 ?) @1971 $23 $27 2.0% Wage-price controls- n* k. \2 f$ C2 y
1972 $23 $29 1.8% Stagflation
% s5 t2 H* |" ]6 C2 n5 B1973 $15 $31 1.0% End of gold standard
' l! D. o! m3 a; P+ b; `& y. T1974 $6 $17 0.4% Budget process created, Watergate
/ s( ?1 ^: w# j: [" a5 |1975 $53 $58 3.1% Ford budget, Vietnam War ended# W8 S8 b# V3 T" v9 x
1976 $74 $87 3.9% Stagflation+ F3 i7 C- I: n D! D
1977 $54 $78 2.5% Stagflation
/ [/ j8 b; g" a5 V2 n% a7 ?( ]% P1978 $59 $73 2.5% Carter budget, Recession
' z+ O# [4 W. q+ m1979 $41 $55 1.5% Recession6 g3 x% H; y' J0 Z+ [! l3 Y
1980 $74 $81 2.6% Volcker raised rates to 20%" k) O' T8 W3 ]; @5 V; r! S
1981 $79 $90 2.4% Reagan tax cut/ {* W2 g5 e; m" z( k
1982 $128 $144 3.8% Reagan increased spending2 r; f) t- z! n2 ?5 P
1983 $208 $235 5.6% Jobless rate was 10.8%7 J# ~3 |2 |- v' ^, U3 n8 K$ x4 M
1984 $185 $195 4.5% Increased defense spending; u( t% I! B) O1 d7 @& {- X
1985 $212 $256 4.8% Increased defense spending
5 ]! O. F2 v" N6 b, O1986 $221 $297 4.8% Tax cut5 b r% o: `; @& b, W
1987 $150 $225 3.1% Market crash
5 j: p/ \) I/ v8 n8 L$ H# m$ y. L1 Z1988 $155 $252 2.9% Fed raised rates
4 k+ x3 N' E5 S' k: u2 A4 m7 t$ k1989 $153 $255 2.7% S&L Crisis, Bush 41 budget* N# P! E, b% n5 J0 L: M
1990 $221 $376 3.7% Desert Storm
: c- E7 K- B7 _$ ] V( p/ m, a6 j1991 $269 $432 4.3% Recession5 J7 j8 A. X- U$ U J% U% }! J
1992 $290 $399 4.4% Expansion8 M$ h4 R' M: h6 r7 A6 e
1993 $255 $347 3.7% Clinton signed Budget Act
7 z) R6 {/ V$ _' Y+ ]6 B/ Q5 ]1994 $203 $281 2.8% Clinton budget, u( x2 B: I, Z4 g1 n) A
1995 $164 $281 2.1% Expansion( a# |( F4 j3 e5 T5 o0 y
1996 $107 $251 1.3% Welfare reform1 j" i: `8 |: n5 t4 Q
1997 $22 $188 0.3% Expansion
3 [% r* e$ M" J$ l6 m( B) v( P* |1998 ($69) $113 (0.8%) LTCM crisis, recession
# Q9 [) |! N7 A" n1999 ($126) $130 (1.3%) Glass-Steagall repealed. E0 D+ Z: V/ F2 o) E# ?2 {
2000 ($236) $18 (2.3%) Surplus& J2 Q. n; y0 i, V0 H5 g8 x8 r
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA4 \5 [8 l) n1 X+ }
2002 $158 $421 1.4% War on Terror
# m. ^; \2 P; O2 k" ^9 a$ y1 Q2003 $378 $555 3.3% JGTRRA1 M0 t( m6 e; K3 r& P* _
2004 $413 $596 3.4% Iraq War/ N$ b2 M6 t1 B* r
2005 $318 $554 2.4% Katrina, Bankruptcy Act
2 T+ m; Q; W* ~+ ]4 E) m. `0 h2006 $248 $578 1.8% Bernanke chairs Fed
0 }" Z* t, u& L, I2007 $161 $501 1.1% Bank crisis
# l2 q; P! P! N" J" K2008 $459 $1,017 3.1% Bank bailout, QE
8 l% n' c& v, x2 |2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B5 g8 H8 n9 G* O, J4 [3 w6 Q6 ?
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
# m( }, s5 d3 C7 [$ J2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue% X& y2 t" O j# l1 M" Z
2012 $1,087 $1,276 6.7% Fiscal cliff! Q8 j# u) J7 }0 W* v" x
2013 $679 $672 4.0% Sequester, government shutdown. @+ z f! e" {4 w& E# [1 k- }
2014 $485 $1,086 2.7% Debt ceiling) i# i z& E& s6 s% ~! A4 I* U
2015 $438 $327 2.4% Defense = $736.4B" l/ P* V* N8 D
2016 $585 $1,423 3.1% Defense = $767.6B- a7 G4 g0 B0 A( _1 n- Y* \
2017 $665 $672 3.4% Defense = $817.9B% P# b+ l1 N7 c
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
/ P# V. G- s; w( a2019 $1,091 $1,314 NA Defense = $956.5B/ u3 H3 n! @7 s3 [
2020 $1,101 $1,281 NA Defense = $989B( y, C8 b. Y$ m _( Z% [( h# }
2021 $1,068 $1,276 NA NA
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