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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
+ b) k% a$ V# k' t1 Z) w: g0 k# V1 I0 Y/ n
2020财年美国预算赤字预计为1.1万亿美元
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" d' w: ]( H- {9 ~8 s' p7 cThe 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.
. m' o( R3 A: y% U0 v$ B8 f 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) v' ?5 v4 f7 e- |7 b
8 Y- Q O7 R2 q$ X/ I+ F: ~5 n7 A/ QFiscal Year Deficit (in billions) Debt Deficit/GDP Events
6 c5 |$ W! Z, Q1929 ($1) ($1) (0.7%) Market crash
. m, s) M6 N7 I1930 ($1) ($1) (0.8%) Smoot-Hawley
4 i6 w; |6 i1 }( I1931 $0 $1 0.6% Dust Bowl r) s8 s, g9 W# V7 V# B" }; ~
1932 $3 $3 4.5% Hoover tax hike5 H" ]8 N/ T+ V- `$ @( N
1933 $3 $3 4.5% FDR New Deal
x' ]6 ?# }: C, F6 H" v, Y1934 $4 $5 5.4% GDP up 10.8%, debt also rose7 z" E; |; l4 h. B8 R( U. z' a
1935 $3 $2 3.8% Social Security1 O9 k: \/ @) S- [) i) M4 ?2 \- B0 z
1936 $4 $5 5.1% Tax hikes
5 W+ f1 `# D% a# u! S6 F, G1937 $2 $3 2.4% Depression returned, third New Deal
3 F* _1 {0 F" h K4 a7 u1938 $0 $1 0.1% Dust Bowl ended
$ f3 W7 Q6 e1 ~8 n& }! O8 |1939 $3 $3 3.0% Depression ended
/ L) [6 J3 x' p; W0 F/ `; n& H1940 $3 $3 2.8% Defense increased5 U/ G+ p3 C5 p; A q
1941 $5 $6 3.8% Pearl Harbor+ [! k4 B6 W7 o0 s4 Q
1942 $21 $23 12.3% Battle of Midway) w0 v3 g% a- d/ R" Z
1943 $55 $64 26.9% Defense tripled- r. E# P, \. |9 u
1944 $48 $64 21.2% Bretton Woods
9 h' B: o6 T; Q. A. R }1945 $48 $58 20.0% WWII ended
. G& |; q- m- n: f8 a( b+ I1946 $16 $11 7.0% Recession9 o; D& v4 V2 ~6 Y2 E/ [
1947 ($4) ($11) (1.6%) Cold War
! D. Q% @% {# w8 K s! E9 m1948 ($12) ($6) (4.2%) Recession
7 F9 z9 t4 L# w$ L, v; z3 D0 G1949 ($1) $0 (0.2%) Recession
9 m5 n. J6 z- ~. C1950 $3 $5 1.0% Korean War
" ~" ?9 W, ]/ L( Y: _6 V1951 ($6) ($2) (1.7%) Expansion* j$ ^1 k9 `2 j
1952 $2 $4 0.4% Expansion2 m6 U# y+ v' q" h7 Y. l4 S
1953 $6 $7 1.7% Korean War ended, recession
2 X. s: X) j0 k3 Z1954 $1 $5 0.3% Recession, Eisenhower budgets! N! F5 N f- @- C" ^3 \" i
1955 $3 $3 0.7% Expansion( X+ {2 { K X/ J
1956 ($4) ($2) (0.9%) Expansion. m7 i; O+ {1 B4 \- y' }; g" s
1957 ($3) ($2) (0.7%) Recession
0 c/ c8 c) U( c, `- y5 B: c4 V1958 $3 $6 0.6% Recession ended
8 E9 ]+ l/ J9 d* D9 |) a* \$ `) F1959 $13 $8 2.4% Fed raised rates
4 Q7 D" X$ @! Y0 h0 e9 t1960 $0 $2 (0.1%) Recession
# w3 V* l& e1 L! C/ e# s1961 $3 $3 0.6% JFK & Bay of Pigs8 u( {2 ^4 V' a
1962 $7 $10 1.2% Cuban Missile Crisis
. j! E% q8 S( `. f$ F' b1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
+ P, i7 T. e% v9 H8 G4 r& C1964 $6 $6 0.9% LBJ War on Poverty
' _& D- m- X: a- i6 r( o; o1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
1 G" a! @+ J. W1 N% Z% [, O' G1966 $4 $3 0.5%
) {' F0 z, a3 x1967 $9 $6 1.0% Expansion$ F8 f' T% w6 v3 C+ w5 |
1968 $25 $21 2.6% Moon landing& N8 x* R: C1 E$ Q- M
1969 ($3) $6 (0.3%) Nixon took office) D' n& g m: Y0 ~$ S: t. ^8 x
1970 $3 $17 0.3% Recession# c1 f, v. R, W, O4 z- \$ @/ z
1971 $23 $27 2.0% Wage-price controls
1 ~/ @ ?" _- k. `# J! f1972 $23 $29 1.8% Stagflation
1 b* I4 F$ ~6 N& @( A1973 $15 $31 1.0% End of gold standard- v- C) u% c; A; \3 @7 N
1974 $6 $17 0.4% Budget process created, Watergate
0 I; T/ ~3 ~ ~) E7 }! Y# N1975 $53 $58 3.1% Ford budget, Vietnam War ended
1 E; P: r3 g" x( |9 o3 K1976 $74 $87 3.9% Stagflation
0 Z" p3 ]6 L: ]3 B. m6 u1977 $54 $78 2.5% Stagflation. I* d" M5 h- K8 u/ j' q
1978 $59 $73 2.5% Carter budget, Recession
G9 m' J* K8 `) ?' ~9 s0 P6 s1979 $41 $55 1.5% Recession( l: e5 }$ n: N' h5 f
1980 $74 $81 2.6% Volcker raised rates to 20%: J9 g0 M6 G4 T6 n/ s7 g
1981 $79 $90 2.4% Reagan tax cut
# t) v5 h. ^/ M) y# L) f6 `' M1982 $128 $144 3.8% Reagan increased spending( g4 O- I9 j. Z
1983 $208 $235 5.6% Jobless rate was 10.8%: r) ^% ? _. }7 k$ g8 n
1984 $185 $195 4.5% Increased defense spending3 @, v& J2 `( y# X0 j& g/ ^
1985 $212 $256 4.8% Increased defense spending
/ G6 g" n' f) v% O0 V3 C1986 $221 $297 4.8% Tax cut
0 u- q' i4 [8 D' `6 a* N8 R1987 $150 $225 3.1% Market crash
]% e% m Q, Z& C3 z1988 $155 $252 2.9% Fed raised rates8 C$ [5 @/ I3 G! t) e! m
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget- Y; J2 T# W \% t w# @
1990 $221 $376 3.7% Desert Storm6 p6 K/ I% }5 n
1991 $269 $432 4.3% Recession
' J0 z, t/ f( z1992 $290 $399 4.4% Expansion
& G0 @0 z( H" T7 p% s4 K1993 $255 $347 3.7% Clinton signed Budget Act
# t* q2 S( C/ |2 [% F; j1 F1994 $203 $281 2.8% Clinton budget
3 r z( @5 n# B% q( m+ c$ |2 ^/ M1995 $164 $281 2.1% Expansion
3 H9 I# j) J3 v+ ~1996 $107 $251 1.3% Welfare reform! F& g6 {% C6 m$ l, B) `
1997 $22 $188 0.3% Expansion
9 n( ?+ K5 k' d* [- c9 V g1998 ($69) $113 (0.8%) LTCM crisis, recession
' o- }0 Z6 \. g4 z V1999 ($126) $130 (1.3%) Glass-Steagall repealed8 i3 y8 q; }1 s$ w" u! V
2000 ($236) $18 (2.3%) Surplus0 `, D0 q+ u5 ~3 J0 f& {1 ], |
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA4 I ~# o; _- W/ w
2002 $158 $421 1.4% War on Terror" m I" D. C2 {% ]0 X1 H$ F
2003 $378 $555 3.3% JGTRRA
( v; u# f4 S$ p9 v7 L2004 $413 $596 3.4% Iraq War! j# Z2 t l- o5 o. i
2005 $318 $554 2.4% Katrina, Bankruptcy Act5 z# K' }" S0 N: c$ n( h
2006 $248 $578 1.8% Bernanke chairs Fed- ]3 ^. G4 U8 x' t, @
2007 $161 $501 1.1% Bank crisis
) D0 u" i/ t5 s2 @9 h$ ?7 ~( C2008 $459 $1,017 3.1% Bank bailout, QE
. U+ c5 n! D- w/ }1 A8 }! R2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B g5 X' G6 I! }7 w1 F; Q
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
' ?+ v9 F5 U X: c. J' q2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue- O5 L% a' h' n& Z/ ^. b
2012 $1,087 $1,276 6.7% Fiscal cliff
' m, c( b* e: M) p5 Z" T8 t6 p8 _1 V# Y5 d2013 $679 $672 4.0% Sequester, government shutdown
* \2 o; X8 F5 B, f2014 $485 $1,086 2.7% Debt ceiling
4 {' c' e7 T! H* K2015 $438 $327 2.4% Defense = $736.4B
! w# i( r2 E3 f9 Q) A/ b, \2016 $585 $1,423 3.1% Defense = $767.6B
$ I9 f" C4 }9 y/ O2017 $665 $672 3.4% Defense = $817.9B6 G+ Y6 r. L- S1 q6 w. e/ G3 ]. X
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
1 J: Q. A9 L6 ?7 K4 s f2019 $1,091 $1,314 NA Defense = $956.5B
$ P) g6 i ~; x4 q# O2020 $1,101 $1,281 NA Defense = $989B' X' A% D5 c' d0 ?
2021 $1,068 $1,276 NA NA
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