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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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2020财年美国预算赤字预计为1.1万亿美元8 x6 p0 a$ |! t$ S2 F
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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.4 ~8 [. P" O- e1 Y# M* t
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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/ _8 ~' N. _/ p) F0 [7 u$ |Fiscal Year Deficit (in billions) Debt Deficit/GDP Events, t' c1 e" u3 y: V# T4 L
1929 ($1) ($1) (0.7%) Market crash3 Z* r5 E/ f/ v! P! x* ` ]# E/ p* s: G
1930 ($1) ($1) (0.8%) Smoot-Hawley
2 u# s5 Z: q8 ~3 R `( A& ]! z1 T, {1931 $0 $1 0.6% Dust Bowl* U0 o* [7 Q: A; Y" d7 W
1932 $3 $3 4.5% Hoover tax hike
8 p2 o; U; z9 r1933 $3 $3 4.5% FDR New Deal
7 s+ F% O% }. ^) ~" R1934 $4 $5 5.4% GDP up 10.8%, debt also rose
- P7 u; N9 h8 h1935 $3 $2 3.8% Social Security
* Y' Y" E4 o( c1 @' N1936 $4 $5 5.1% Tax hikes
4 w$ f3 A- Z" }' Q5 f( B) x3 B/ T& |1937 $2 $3 2.4% Depression returned, third New Deal' s7 ^- o* k. p# e7 t. o8 J
1938 $0 $1 0.1% Dust Bowl ended
! D( K, @" k6 }1939 $3 $3 3.0% Depression ended! |* C- N# Q- O9 s& I
1940 $3 $3 2.8% Defense increased
, e5 P* v0 z) v% I$ s6 u1941 $5 $6 3.8% Pearl Harbor
! S# l1 I! r) T8 T1942 $21 $23 12.3% Battle of Midway
3 r/ p: Q: s j' f; l0 c1943 $55 $64 26.9% Defense tripled% L1 h! Y" X0 ?. O
1944 $48 $64 21.2% Bretton Woods; z% n* @% a7 W+ Z/ G5 f
1945 $48 $58 20.0% WWII ended
& p9 y3 D& h, E% m! i$ i# ~2 d1946 $16 $11 7.0% Recession4 l/ T7 N e" b# K
1947 ($4) ($11) (1.6%) Cold War# q- m2 j1 M- S$ b1 u
1948 ($12) ($6) (4.2%) Recession7 _. g$ ^ y; A) O4 z
1949 ($1) $0 (0.2%) Recession) i" m* ?' }, y
1950 $3 $5 1.0% Korean War+ Y( O" x7 I5 a0 h. j/ J" T8 V
1951 ($6) ($2) (1.7%) Expansion
a! t, @+ Q2 V0 y v. S1952 $2 $4 0.4% Expansion/ f/ v7 S# `9 E8 j
1953 $6 $7 1.7% Korean War ended, recession
( I& k* Q$ G, b# N) |5 L1954 $1 $5 0.3% Recession, Eisenhower budgets! f" Q! N$ M! J d6 A! S
1955 $3 $3 0.7% Expansion
; E) M0 ]4 W: p$ \: o1 M1956 ($4) ($2) (0.9%) Expansion
: Q0 j1 ~4 z& m1957 ($3) ($2) (0.7%) Recession
6 p6 s P" R3 B1 S7 U1958 $3 $6 0.6% Recession ended" o' S \4 }& b& H8 e& |
1959 $13 $8 2.4% Fed raised rates/ \! |0 @: G0 o+ c. j
1960 $0 $2 (0.1%) Recession
$ Y# N5 U7 |$ Y4 s1961 $3 $3 0.6% JFK & Bay of Pigs
7 A8 b! k1 [- w+ {6 a1962 $7 $10 1.2% Cuban Missile Crisis$ g3 l! t$ u; n k3 U2 i' [
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed; }- @! Q" a- `' L0 p! a( F; [
1964 $6 $6 0.9% LBJ War on Poverty) c- u% v* ?* x/ [: ~9 k3 G+ T
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
- \+ s: F9 ]- _6 L* ?1966 $4 $3 0.5% % b2 `# K- e+ p- t# ]7 ~
1967 $9 $6 1.0% Expansion
$ a2 c A( y; H, A l1968 $25 $21 2.6% Moon landing
" ^! `) |, @+ I& N6 ]1969 ($3) $6 (0.3%) Nixon took office1 Z! B1 V3 R3 n9 i% V) x' K
1970 $3 $17 0.3% Recession4 L3 _ B/ f9 G; s0 `7 i1 R2 x
1971 $23 $27 2.0% Wage-price controls
. t. m" `) @, g0 H$ V1972 $23 $29 1.8% Stagflation0 I+ @- {# R6 G0 i( R3 U: z, g: k
1973 $15 $31 1.0% End of gold standard% W( f* f: r- A! ^% o$ c
1974 $6 $17 0.4% Budget process created, Watergate: c0 E r1 T. \ L# G
1975 $53 $58 3.1% Ford budget, Vietnam War ended
! Y, K6 ?4 n+ v# Q2 ]$ S1976 $74 $87 3.9% Stagflation
5 ^& h/ B& w! o" a B! U7 `1977 $54 $78 2.5% Stagflation3 L# s! I6 e& @* Z X( C
1978 $59 $73 2.5% Carter budget, Recession
* m% K5 J* x! K* O* x1979 $41 $55 1.5% Recession
7 m" A7 }$ u, p2 Z% j2 J1980 $74 $81 2.6% Volcker raised rates to 20%- r6 ~% f% l1 f; c
1981 $79 $90 2.4% Reagan tax cut
' k4 n# b5 U; W0 c1982 $128 $144 3.8% Reagan increased spending
9 c. `; B7 j' N' l: W4 z1983 $208 $235 5.6% Jobless rate was 10.8%
( P" e2 w' F$ `9 j/ S7 e' V1984 $185 $195 4.5% Increased defense spending
/ P( O9 c! n, [8 i; b% H, I# e. h1985 $212 $256 4.8% Increased defense spending! T6 S5 y% R6 h( ]* k/ x
1986 $221 $297 4.8% Tax cut0 o- h8 y s. T0 T3 e6 d
1987 $150 $225 3.1% Market crash: G" o( Q! t; H; \2 ~+ G) ~
1988 $155 $252 2.9% Fed raised rates
3 h$ d. h8 L( _% @) [1989 $153 $255 2.7% S&L Crisis, Bush 41 budget5 l1 v# p$ @) |' i1 [1 \/ f
1990 $221 $376 3.7% Desert Storm
* E% F; O# q7 I* c1991 $269 $432 4.3% Recession, A% a [' W4 ` J, Y
1992 $290 $399 4.4% Expansion6 o3 I: V7 I2 \+ w4 ~
1993 $255 $347 3.7% Clinton signed Budget Act
$ @2 g- b3 d. A' V3 ?4 z1994 $203 $281 2.8% Clinton budget
( R/ _# j# y" h! D3 Q: v3 x1995 $164 $281 2.1% Expansion
4 x: k! ]# D* c# r) X9 b8 f1996 $107 $251 1.3% Welfare reform# V5 Q' d( }& |. [0 [4 o
1997 $22 $188 0.3% Expansion* d9 h/ \# ^; ~ D- w, J
1998 ($69) $113 (0.8%) LTCM crisis, recession* T# W2 e1 o& C" _/ n
1999 ($126) $130 (1.3%) Glass-Steagall repealed
9 p# {2 }* U' h+ x3 Y2000 ($236) $18 (2.3%) Surplus
. h. A5 b* n& t" `; C2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
( E k* D4 L% a w d3 S, m2002 $158 $421 1.4% War on Terror
9 k, V6 U9 H& T# G( p. v0 N. k2003 $378 $555 3.3% JGTRRA' L: ?+ T0 a/ v% `5 m0 {
2004 $413 $596 3.4% Iraq War5 L2 e$ T8 E0 ^; T3 j7 o0 E
2005 $318 $554 2.4% Katrina, Bankruptcy Act1 G4 O. |5 I" H$ |. p
2006 $248 $578 1.8% Bernanke chairs Fed
7 h5 p6 u/ o. N- d. J2007 $161 $501 1.1% Bank crisis
# |/ a( T9 J5 C) @# U5 u& E2008 $459 $1,017 3.1% Bank bailout, QE* y3 a$ X( a8 k/ a7 d
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
" v' p' x& V& T/ i8 E6 l; Q2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles' D( ^2 z/ O0 V6 _3 P3 Y3 r& ]
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue9 r, [5 _# A) E
2012 $1,087 $1,276 6.7% Fiscal cliff
' w. G$ v1 X& s- x. L3 Q7 ^2013 $679 $672 4.0% Sequester, government shutdown7 ]( L5 H$ E8 c$ Y
2014 $485 $1,086 2.7% Debt ceiling
; a' u# F1 M: H) Z2015 $438 $327 2.4% Defense = $736.4B
n$ m v! n1 z% ^$ I2016 $585 $1,423 3.1% Defense = $767.6B
; ?9 b+ d' U A% `& u8 J2017 $665 $672 3.4% Defense = $817.9B
. A- |( z/ b# V8 ~4 o; _2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts; }' d& Y5 x* E+ v
2019 $1,091 $1,314 NA Defense = $956.5B
a9 g+ }% F" k' ]! I# R9 h9 p8 N0 ~4 T2020 $1,101 $1,281 NA Defense = $989B
_7 u" v( E" @( M% y2021 $1,068 $1,276 NA NA' t5 d0 X3 r, x/ J3 _7 `
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