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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion. 1 M7 ]- @& R, i7 d: o" `+ J
8 o/ V3 a/ u, Q4 {4 W. r3 G4 o2020财年美国预算赤字预计为1.1万亿美元, _& d% A5 k" E, E% R+ b
! p( A2 F0 h5 |) V& u9 P+ M3 sThe first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.
4 M% f* ^" f- M- X* z8 j, j 第一列表示会计年度，其次是该年度的赤字（十亿）。其次是财政年度的债务增加，其次是赤字/ GDP。最后，列举了影响赤字的事件0 |0 r3 C- x: Y# j4 h
; e" C% R1 G6 [* W, {Fiscal Year Deficit (in billions) Debt Deficit/GDP Events1 q1 v0 `& J4 u6 p0 B$ U" O2 |
1929 ($1) ($1) (0.7%) Market crash
8 t9 h4 G3 D0 ?' w! ?; Y2 j1930 ($1) ($1) (0.8%) Smoot-Hawley
* e+ B( m4 E6 r8 f2 s+ O1931 $0 $1 0.6% Dust Bowl- Q/ ]0 ^+ ?' v2 H* D
1932 $3 $3 4.5% Hoover tax hike! l+ `# A6 G0 u. U- K+ H
1933 $3 $3 4.5% FDR New Deal" I5 x7 ?. O8 U! Z% D
1934 $4 $5 5.4% GDP up 10.8%, debt also rose5 o% I! F$ n9 }; U
1935 $3 $2 3.8% Social Security
5 G1 y; ?* Z6 }1936 $4 $5 5.1% Tax hikes
5 I; m+ ]4 |; z/ w2 Z" {1 D# @& T1937 $2 $3 2.4% Depression returned, third New Deal
1 |3 R/ H7 v/ Z& ~1 {4 e ?, b1938 $0 $1 0.1% Dust Bowl ended
; |( a2 \+ B* e& p5 ?0 J* m$ v1939 $3 $3 3.0% Depression ended
: J7 H, n- f7 @% U! t1940 $3 $3 2.8% Defense increased7 l. |- }; v; |3 I* c6 p3 a* A4 x9 t& H# r
1941 $5 $6 3.8% Pearl Harbor
# L, R5 _6 L" x0 n7 R/ Q1942 $21 $23 12.3% Battle of Midway
+ ]* k: J& j7 u' L0 n+ s- Z. h1943 $55 $64 26.9% Defense tripled
% O% G: y$ t6 i1944 $48 $64 21.2% Bretton Woods+ Q5 U- n1 L' F9 j6 U9 F
1945 $48 $58 20.0% WWII ended
# t0 l6 X( d9 ^( f1946 $16 $11 7.0% Recession
& |2 ^6 K- a, h4 i5 Z- c4 m. T Z1947 ($4) ($11) (1.6%) Cold War
+ U! i: ?( M( i: t7 M1948 ($12) ($6) (4.2%) Recession1 O% _: c" k6 t' X2 z* W
1949 ($1) $0 (0.2%) Recession
; g$ s* Y3 D% Z5 F1950 $3 $5 1.0% Korean War7 N% ]- ~% k' y7 U( e/ |6 r
1951 ($6) ($2) (1.7%) Expansion
; x+ t- t; V) c1952 $2 $4 0.4% Expansion
! J# L. V$ q7 t5 p9 @: e1953 $6 $7 1.7% Korean War ended, recession0 }6 s c& K) Q* {* K. _
1954 $1 $5 0.3% Recession, Eisenhower budgets
0 Q3 A) I( C4 _3 P/ u# ^- O1955 $3 $3 0.7% Expansion
/ h% G/ c: Q$ I: P1956 ($4) ($2) (0.9%) Expansion
, H5 B1 X% }6 C1 m) X+ C4 e1957 ($3) ($2) (0.7%) Recession0 [, Y. D' ?# I5 D/ |8 J
1958 $3 $6 0.6% Recession ended* B" f+ t* }+ b
1959 $13 $8 2.4% Fed raised rates
7 p1 V, c% m% [0 c" H: ?- i$ H+ x1960 $0 $2 (0.1%) Recession
' ~4 _; o& `' u' \- v9 t3 p1961 $3 $3 0.6% JFK & Bay of Pigs
" a7 e6 u8 n# S( @( q- _9 Q" e1962 $7 $10 1.2% Cuban Missile Crisis
2 R( ^5 E: Z2 c. B$ L, ?3 G1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed' L% a7 r, M$ b9 u" z" E! p
1964 $6 $6 0.9% LBJ War on Poverty+ l4 w8 V! `2 l4 O- G* b
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War: W. A7 K' f- G4 g' J/ g, }
1966 $4 $3 0.5%
7 R+ g9 V% [) H& o9 D; T8 N ~2 {, \1967 $9 $6 1.0% Expansion6 h: L& I! e" z7 j1 p! v
1968 $25 $21 2.6% Moon landing& o: i# q8 h$ i5 {0 b
1969 ($3) $6 (0.3%) Nixon took office
& s% s: R! D6 e: z* A1970 $3 $17 0.3% Recession
% T( }+ _# o$ J! c1 ?8 _1971 $23 $27 2.0% Wage-price controls
2 p8 G+ K; B5 m: {1972 $23 $29 1.8% Stagflation7 M# M" ]( w$ ^% h; Q
1973 $15 $31 1.0% End of gold standard# C" b2 F; n# f5 W
1974 $6 $17 0.4% Budget process created, Watergate8 B8 o' m' V8 a" a3 \0 D
1975 $53 $58 3.1% Ford budget, Vietnam War ended
9 r- x1 o, A. a! S4 x1976 $74 $87 3.9% Stagflation
. _! l; w3 Q9 {, J0 s1977 $54 $78 2.5% Stagflation
. W9 j4 X7 P7 C" O& V1978 $59 $73 2.5% Carter budget, Recession* h% B1 M2 V! A* X" K
1979 $41 $55 1.5% Recession
6 O% a! L2 h4 z6 F1980 $74 $81 2.6% Volcker raised rates to 20%
' h* A* }* c7 F3 k1 o& I, e1981 $79 $90 2.4% Reagan tax cut$ d: }" K0 ~& a4 S0 J
1982 $128 $144 3.8% Reagan increased spending
. T& t/ E3 A) M' r6 D: b1 Y. o1983 $208 $235 5.6% Jobless rate was 10.8%. o0 \( l1 B' _. W
1984 $185 $195 4.5% Increased defense spending
* R! T* Q4 |1 p" J& F1985 $212 $256 4.8% Increased defense spending
, Q: W2 G) H0 A: E5 S1986 $221 $297 4.8% Tax cut" W# v, W' `2 R8 w+ Y" e* L
1987 $150 $225 3.1% Market crash
- H$ d2 X5 }: k* |& ^- G) \1988 $155 $252 2.9% Fed raised rates
9 y, t7 \6 `. T3 {, a5 B' |1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
% i, v d1 @4 t1990 $221 $376 3.7% Desert Storm
" i" ?! u w" T0 }$ f# M- I# ?- {2 K1991 $269 $432 4.3% Recession2 G7 p3 V5 u9 v8 G: b9 q9 o
1992 $290 $399 4.4% Expansion$ q1 l# _& u n6 m
1993 $255 $347 3.7% Clinton signed Budget Act6 `; `9 ?2 L: {% A: g
1994 $203 $281 2.8% Clinton budget3 K& H1 T0 H( U
1995 $164 $281 2.1% Expansion8 y/ B' J& |! z$ g" }
1996 $107 $251 1.3% Welfare reform
8 {( C! ?( ?# J$ ^- q- x1997 $22 $188 0.3% Expansion
: J5 w$ W: E- T2 n9 s5 T$ P# b1998 ($69) $113 (0.8%) LTCM crisis, recession* m# ], U& Y: n& i2 s- a. T
1999 ($126) $130 (1.3%) Glass-Steagall repealed
; y8 R) k/ ^$ J0 T! J2000 ($236) $18 (2.3%) Surplus6 w" n$ u( T' S0 ^
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA; P# U, ?2 G- U' v2 X+ l
2002 $158 $421 1.4% War on Terror! ?6 V7 G$ b( G7 M6 w8 x
2003 $378 $555 3.3% JGTRRA5 N7 \7 }& A3 G/ \- x
2004 $413 $596 3.4% Iraq War
3 W+ {3 @0 U4 Q) u4 _! W2005 $318 $554 2.4% Katrina, Bankruptcy Act/ m: v# K2 Z* J8 J8 H% M2 f8 d) f
2006 $248 $578 1.8% Bernanke chairs Fed. K3 i& w" h, w) U6 \: R O
2007 $161 $501 1.1% Bank crisis: x9 @ h$ \! Z
2008 $459 $1,017 3.1% Bank bailout, QE6 |% G; x$ N! \/ v6 S9 R$ }6 Y' n
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
! J0 Q! d! }$ x+ b; `2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
- s0 p2 o; D5 B7 R0 w2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue% H# r. H3 P- v. P. M4 N* X; a/ d
2012 $1,087 $1,276 6.7% Fiscal cliff/ k4 }0 M7 V1 k8 t
2013 $679 $672 4.0% Sequester, government shutdown, K" N) ^7 m3 V" }0 h4 U
2014 $485 $1,086 2.7% Debt ceiling
9 K" |& z4 P9 w1 }# U0 d2015 $438 $327 2.4% Defense = $736.4B
6 a! s" t# a' Y5 n2016 $585 $1,423 3.1% Defense = $767.6B
" d5 j6 O& y* N0 p, d2017 $665 $672 3.4% Defense = $817.9B, Y/ R% N- y5 r* ] n; X
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts" J4 y2 T+ T/ B4 Q, G, y: x K
2019 $1,091 $1,314 NA Defense = $956.5B( ~5 A4 V% y4 `" S4 Z
2020 $1,101 $1,281 NA Defense = $989B
( Q# |+ n3 M; D) v! r3 {! ]% {2021 $1,068 $1,276 NA NA
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