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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion. 0 x; [# v* g6 d
! u) X6 ]4 {; _, g; M2020财年美国预算赤字预计为1.1万亿美元
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9 u+ @7 _9 S7 \! N y, iThe first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.
- z$ D$ N1 _+ X9 L- a 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
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Fiscal Year Deficit (in billions) Debt Deficit/GDP Events
! f: D H- g8 C' r/ [1929 ($1) ($1) (0.7%) Market crash9 k! o! F$ [3 z3 ?1 f
1930 ($1) ($1) (0.8%) Smoot-Hawley
6 [- @7 Q* I6 J# C$ c \7 g7 C1931 $0 $1 0.6% Dust Bowl
. w# H. y# C, f7 k; N1932 $3 $3 4.5% Hoover tax hike; ]) Z6 p5 V* ^. _* S' i, s1 k
1933 $3 $3 4.5% FDR New Deal
7 d$ j; x$ t1 ]7 ~9 d- t% E; F1934 $4 $5 5.4% GDP up 10.8%, debt also rose( W' G; C5 D1 p0 H; H- \- h* P
1935 $3 $2 3.8% Social Security
# {& W ~+ ]: ]4 c: w% ]# ]2 z: W1936 $4 $5 5.1% Tax hikes
$ h6 I/ K( D# Z4 Z1937 $2 $3 2.4% Depression returned, third New Deal
1 C- a) v- K! T6 g1938 $0 $1 0.1% Dust Bowl ended( a" j+ s7 f# I7 s9 U' q; Q
1939 $3 $3 3.0% Depression ended$ h9 R" i0 y& \% H$ h
1940 $3 $3 2.8% Defense increased3 z7 H6 s$ I/ E+ n: ^, ^" N ]
1941 $5 $6 3.8% Pearl Harbor4 l/ @# [* x O
1942 $21 $23 12.3% Battle of Midway
% Q$ \9 h% ]1 ^3 {; z6 b9 |$ `1943 $55 $64 26.9% Defense tripled1 R. a. Z8 q* I8 w: T! V
1944 $48 $64 21.2% Bretton Woods3 b) z7 N* X n: V; S* F' U( M
1945 $48 $58 20.0% WWII ended
8 N% @1 {6 K$ J: G2 J4 x b2 s3 q3 p1946 $16 $11 7.0% Recession
3 I' T6 ^4 u% |( S4 C1 G( b! [1947 ($4) ($11) (1.6%) Cold War+ F! D0 o1 S/ O& G/ D
1948 ($12) ($6) (4.2%) Recession
2 c7 \9 m% J7 |3 h1949 ($1) $0 (0.2%) Recession
* u6 o. A" ]; U& Z, X# j1950 $3 $5 1.0% Korean War/ U9 i& g0 j$ ?' `
1951 ($6) ($2) (1.7%) Expansion
0 h2 F! W: x8 {5 l" X" o7 N& l8 z1952 $2 $4 0.4% Expansion1 _" X4 m9 V# A& F) ~' {& e
1953 $6 $7 1.7% Korean War ended, recession
, T0 {) V' l: A) i6 P, N1954 $1 $5 0.3% Recession, Eisenhower budgets
$ ]* y: P4 _/ r/ r& w( k8 G6 F1955 $3 $3 0.7% Expansion
6 o; n1 z; [ b1956 ($4) ($2) (0.9%) Expansion' C. \' y) H) L5 ?
1957 ($3) ($2) (0.7%) Recession
! x; d- A6 F7 g# c `# n1958 $3 $6 0.6% Recession ended
. E# Y/ } I* ]1959 $13 $8 2.4% Fed raised rates2 Y2 s( U! l7 v4 d2 A
1960 $0 $2 (0.1%) Recession
( s( h7 T6 m m1961 $3 $3 0.6% JFK & Bay of Pigs N9 j% G( [! n, E" D
1962 $7 $10 1.2% Cuban Missile Crisis a" j9 O- D" n g" b7 Y, `
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
5 Q9 s4 d1 Z' z5 G1964 $6 $6 0.9% LBJ War on Poverty
. b* U; n- r4 H8 n9 e- e1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
4 j/ D& \! _6 |0 t& Q0 ^+ {9 X# W( @1966 $4 $3 0.5% $ v3 K! |: K& P& o* Y- D
1967 $9 $6 1.0% Expansion: b8 z9 |5 ] X; J0 ]
1968 $25 $21 2.6% Moon landing
3 [* y( f9 }4 t4 z1969 ($3) $6 (0.3%) Nixon took office
: d. r" n1 @; y. j1970 $3 $17 0.3% Recession: O q9 M [7 x" \3 v7 h- G
1971 $23 $27 2.0% Wage-price controls
" P3 @3 h! U5 P. K8 T" _/ @1972 $23 $29 1.8% Stagflation
+ q9 P+ _( u1 E1 Z; l& u1973 $15 $31 1.0% End of gold standard; {. R1 b( U5 D4 B/ p' Z
1974 $6 $17 0.4% Budget process created, Watergate- t$ l3 @% G8 Z2 G9 \( S
1975 $53 $58 3.1% Ford budget, Vietnam War ended; {5 H D% x$ F
1976 $74 $87 3.9% Stagflation5 {* B1 t: J% J" m
1977 $54 $78 2.5% Stagflation
w5 M$ o; W! ~4 T1978 $59 $73 2.5% Carter budget, Recession
; G) _2 C, I/ v9 G! s1979 $41 $55 1.5% Recession
) f% F( k. @' y# f1980 $74 $81 2.6% Volcker raised rates to 20%
+ N( i- {% m$ I i- d0 X1981 $79 $90 2.4% Reagan tax cut' \& W6 p9 U' |, P, h5 I1 `
1982 $128 $144 3.8% Reagan increased spending$ [0 f1 \1 {) M9 B P/ T1 E/ u0 T
1983 $208 $235 5.6% Jobless rate was 10.8%' L7 x9 A" e2 g. t* [/ ?
1984 $185 $195 4.5% Increased defense spending
* F* g' r* Y* I+ _0 m: R1985 $212 $256 4.8% Increased defense spending
1 ]8 u6 A9 L2 ]* B1986 $221 $297 4.8% Tax cut
5 z, s/ a/ q- w- z. I0 Q1987 $150 $225 3.1% Market crash
5 n6 H. I& @2 c, m2 o# p% _! m1988 $155 $252 2.9% Fed raised rates1 w7 b) F1 B. l H) i
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
; `, a8 H7 L6 h9 t) v( E8 b0 y1990 $221 $376 3.7% Desert Storm
4 d, Y; y2 B9 R: `/ _1991 $269 $432 4.3% Recession
; p0 B) P' O( n5 k6 f' S1992 $290 $399 4.4% Expansion
8 g9 V* M& w) y" e# |1 w t0 y1993 $255 $347 3.7% Clinton signed Budget Act
" R" ]& [% V) t5 Z3 k* H9 X) V1994 $203 $281 2.8% Clinton budget# [2 g6 m) t. e6 ` U" M- }9 K
1995 $164 $281 2.1% Expansion+ E. Q; q4 ?6 `, J# [# K
1996 $107 $251 1.3% Welfare reform
, t' ~9 D: a2 f" p% {! ^0 I7 [1997 $22 $188 0.3% Expansion
0 u0 T4 H4 E$ j" b$ d L1998 ($69) $113 (0.8%) LTCM crisis, recession$ ?! ?; x5 m7 r3 I& q+ X; t
1999 ($126) $130 (1.3%) Glass-Steagall repealed
7 W, q! Q/ G P, m' o9 }2000 ($236) $18 (2.3%) Surplus8 y; p0 v' Z" s
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA- o) [% g: \. r: t$ R- Y
2002 $158 $421 1.4% War on Terror
; A0 E9 x' k( [7 d8 N3 a2003 $378 $555 3.3% JGTRRA" f( v7 U( @5 ?+ }7 Y$ V% [8 Y0 Z0 K
2004 $413 $596 3.4% Iraq War, q$ \8 r2 `/ e4 D. a5 b
2005 $318 $554 2.4% Katrina, Bankruptcy Act
& R) @6 X3 i6 D7 ~2006 $248 $578 1.8% Bernanke chairs Fed* ~+ f- g; e( Q8 c2 @ X
2007 $161 $501 1.1% Bank crisis
2 R' {* b1 X3 m0 d2008 $459 $1,017 3.1% Bank bailout, QE: T4 e0 W: z$ Y9 W: w; H, y! l" L
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
2 r6 @; ^* a8 r& u2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles# \- n. A, d9 ]% c" @/ ~ A: s
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
0 H, h! u. p7 Z" J0 W2012 $1,087 $1,276 6.7% Fiscal cliff) N3 f4 ]# J. u( R+ P
2013 $679 $672 4.0% Sequester, government shutdown& T. S& s" H* ?2 Q9 Z5 k
2014 $485 $1,086 2.7% Debt ceiling( C7 F/ Q$ f \1 a
2015 $438 $327 2.4% Defense = $736.4B3 D6 x; S8 `+ G1 y
2016 $585 $1,423 3.1% Defense = $767.6B
. u/ T% e( [, o. F$ K8 u& z6 Y. v2017 $665 $672 3.4% Defense = $817.9B
4 B9 Q0 a! e4 Z w) t* d2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
4 N7 C, C" R z' B. e2019 $1,091 $1,314 NA Defense = $956.5B! P: }* d) P0 X a4 F* a/ y' W, z6 n
2020 $1,101 $1,281 NA Defense = $989B
/ K3 [7 e4 [& e. F/ J7 t2021 $1,068 $1,276 NA NA9 q9 X6 P! D, i5 H' G3 K2 n# w
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