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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion. C. P) ?. S7 j# M, X; e2 w$ a# I
; {) M6 Z y4 x6 Q* I2020财年美国预算赤字预计为1.1万亿美元
: ?2 S- b+ h* w( ?" v0 @; Z2 a$ L( \2 W$ {& o( g4 a/ j4 w9 E2 s: Y
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.
. N- h7 w! b. L9 {$ K1 s9 z& Z 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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/ { ^7 W3 r0 d" nFiscal Year Deficit (in billions) Debt Deficit/GDP Events- B& f& J! v/ C9 M/ r$ ?
1929 ($1) ($1) (0.7%) Market crash# h2 r) \; D! ~
1930 ($1) ($1) (0.8%) Smoot-Hawley
2 J) z2 E* o& I/ O5 H( }1931 $0 $1 0.6% Dust Bowl. E1 O* z+ l! d/ i) m* r
1932 $3 $3 4.5% Hoover tax hike' Q0 H/ |# M/ Z( Y$ O) H! d4 I% }
1933 $3 $3 4.5% FDR New Deal
% P: _' i+ T; F$ l; m' R& ]0 @1934 $4 $5 5.4% GDP up 10.8%, debt also rose6 B& N3 s# y* v& n3 b/ g Z
1935 $3 $2 3.8% Social Security
. o6 F7 M# f4 L5 `1936 $4 $5 5.1% Tax hikes- q- ]7 _ X$ ]& Y- v5 c- R C: x
1937 $2 $3 2.4% Depression returned, third New Deal* ]7 o! \* q1 w9 ]5 a
1938 $0 $1 0.1% Dust Bowl ended
) X# C0 w8 m' Q, l/ T9 o1939 $3 $3 3.0% Depression ended
8 w5 G6 y1 g9 C4 y' ~; J2 B1940 $3 $3 2.8% Defense increased! y2 K+ ]! J3 ?/ t/ t7 s
1941 $5 $6 3.8% Pearl Harbor
, c+ ]% O$ u* R( H4 z# X& @1942 $21 $23 12.3% Battle of Midway
- B- B! z! n0 a% c8 @ L7 D1943 $55 $64 26.9% Defense tripled
8 N6 k8 |2 Z" x0 N3 d1944 $48 $64 21.2% Bretton Woods
+ q" y* w$ P {8 y0 v. Y1945 $48 $58 20.0% WWII ended
( c! u/ V: k! x1946 $16 $11 7.0% Recession
' l! j" Y. {1 h! @1947 ($4) ($11) (1.6%) Cold War
9 r2 h4 l; }5 q- h0 E0 v0 B% L1948 ($12) ($6) (4.2%) Recession3 ^4 Q# f2 W; Z
1949 ($1) $0 (0.2%) Recession- l9 R; f0 j3 o6 T+ V! y% N6 ]+ {$ V
1950 $3 $5 1.0% Korean War+ Q/ |* Q1 t x1 Q% ~/ m6 J+ V
1951 ($6) ($2) (1.7%) Expansion
5 c( n' k5 E8 l+ @8 L/ C1952 $2 $4 0.4% Expansion! R9 ?+ l+ X; c9 ?
1953 $6 $7 1.7% Korean War ended, recession' f3 [ e* N* c% A( |5 O! S( ] g
1954 $1 $5 0.3% Recession, Eisenhower budgets0 r5 Y% e$ W i5 E
1955 $3 $3 0.7% Expansion. W% `1 o- b- r! C
1956 ($4) ($2) (0.9%) Expansion" h2 k+ F4 H2 [$ L8 X k3 c
1957 ($3) ($2) (0.7%) Recession8 e$ _& L$ n) p
1958 $3 $6 0.6% Recession ended
3 x; ?2 k- |! Q4 d3 z+ C1959 $13 $8 2.4% Fed raised rates& ^2 n& e9 O# ^" S# a9 p
1960 $0 $2 (0.1%) Recession2 q. F5 K* g( T* c
1961 $3 $3 0.6% JFK & Bay of Pigs
% r( k: Z. ^8 x1962 $7 $10 1.2% Cuban Missile Crisis5 t+ @: s) a5 c! u, l
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
7 Y# r+ U& u/ p7 C1964 $6 $6 0.9% LBJ War on Poverty
1 \- x) \; B- v3 g3 O }: @ P! C' d! O1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
: k% f7 U1 F% P" G9 V; h4 b: ]1966 $4 $3 0.5% " r3 i. h I9 s# y* w3 g
1967 $9 $6 1.0% Expansion' T+ ? H* p4 X* ~, o
1968 $25 $21 2.6% Moon landing
3 k6 [% z3 O! _1 t; m+ J1969 ($3) $6 (0.3%) Nixon took office$ c+ d- `9 ?0 L$ ]) {" v
1970 $3 $17 0.3% Recession( Q0 Y' Q- l+ L ]8 T. G( |
1971 $23 $27 2.0% Wage-price controls' n* G' ^$ g" z; r' U: `
1972 $23 $29 1.8% Stagflation
, T7 I/ r8 C6 W( D( q9 ]1 o1973 $15 $31 1.0% End of gold standard H& R+ u+ a* A/ S1 ]5 ~
1974 $6 $17 0.4% Budget process created, Watergate1 V/ H7 C8 T. m: n2 t9 s3 s9 K
1975 $53 $58 3.1% Ford budget, Vietnam War ended. c7 w. t& @5 V. X$ a. N/ K
1976 $74 $87 3.9% Stagflation% k+ {4 d F, c, }
1977 $54 $78 2.5% Stagflation+ I! ?+ G( T Z3 z4 C; v$ t; K
1978 $59 $73 2.5% Carter budget, Recession
4 g/ z& F9 q; j, a# f# b7 t1979 $41 $55 1.5% Recession& j ^# |( e+ ?2 a! Z; Q" n
1980 $74 $81 2.6% Volcker raised rates to 20%( |9 d5 Z8 `( |" x8 v5 J
1981 $79 $90 2.4% Reagan tax cut
- M8 n y( x/ F3 P: t1982 $128 $144 3.8% Reagan increased spending
7 C# O5 o. `* R& _ F2 Q0 g! e% Y1983 $208 $235 5.6% Jobless rate was 10.8%
0 V/ i' f; n4 `" b6 ^1984 $185 $195 4.5% Increased defense spending
& |. t7 D1 F! y+ g8 w1985 $212 $256 4.8% Increased defense spending
$ c! B7 Q8 \- s! }2 }1986 $221 $297 4.8% Tax cut; B- f8 e6 K M, H+ F
1987 $150 $225 3.1% Market crash. L, h2 `8 |. X8 ~+ \
1988 $155 $252 2.9% Fed raised rates
2 r( {3 ]. ^. U3 ]+ ^% A9 V1989 $153 $255 2.7% S&L Crisis, Bush 41 budget- s& f' s8 S6 c. `2 M+ a5 \3 y
1990 $221 $376 3.7% Desert Storm$ G8 `) W* u- q# J! G7 @; s0 w, W/ T
1991 $269 $432 4.3% Recession1 j- k6 L& Q7 C
1992 $290 $399 4.4% Expansion
4 @( `4 v0 j+ L8 T) J- i1993 $255 $347 3.7% Clinton signed Budget Act3 q9 _3 q) d1 B2 ]8 ~
1994 $203 $281 2.8% Clinton budget( `" X( M }6 S5 v$ n" l/ n
1995 $164 $281 2.1% Expansion
! W+ H) n [( J1996 $107 $251 1.3% Welfare reform
' d5 _; M1 o. f* O _- c; c1997 $22 $188 0.3% Expansion
; p% |' a9 I: U8 r; K1998 ($69) $113 (0.8%) LTCM crisis, recession% s& J( a4 f9 ?+ h4 X/ U1 S) W
1999 ($126) $130 (1.3%) Glass-Steagall repealed! r+ M& n$ l, t5 U! I) {
2000 ($236) $18 (2.3%) Surplus
9 u1 U. s0 n8 M& a5 ]2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA' G0 A n9 `! g" O
2002 $158 $421 1.4% War on Terror* P; h( E' Y& U' v7 r# }) I
2003 $378 $555 3.3% JGTRRA& e2 m7 H0 Z9 a9 L0 L
2004 $413 $596 3.4% Iraq War
' G3 F! g" J i2 y( ?; r2005 $318 $554 2.4% Katrina, Bankruptcy Act
+ N9 W5 @, q8 R5 C- @6 L2006 $248 $578 1.8% Bernanke chairs Fed
- q' _( g2 v7 _% D+ W7 |1 j2007 $161 $501 1.1% Bank crisis
, e2 C2 |; ?2 n! j: d7 c& E2008 $459 $1,017 3.1% Bank bailout, QE
' ?+ q3 Q/ A& ?% t" L2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
4 v" I/ d1 M" @ @2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
! K( R. ~5 m7 j2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue- e" Z& ^& j( M( D; ?& {* w
2012 $1,087 $1,276 6.7% Fiscal cliff
% Q, @* P8 v1 N9 l2013 $679 $672 4.0% Sequester, government shutdown
& U b% n2 ^) H3 c; r2014 $485 $1,086 2.7% Debt ceiling$ B$ _ |3 B3 M3 d& w B! }
2015 $438 $327 2.4% Defense = $736.4B
4 v/ @# R, V, P& y c. b3 O2016 $585 $1,423 3.1% Defense = $767.6B" J T! s1 _! n B9 G: F# f; J6 P
2017 $665 $672 3.4% Defense = $817.9B G {- z3 B) Y1 y+ \( j1 o. X
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
+ H0 b/ g1 z3 f: K' F2019 $1,091 $1,314 NA Defense = $956.5B0 ~; S. |# f6 b, E( P
2020 $1,101 $1,281 NA Defense = $989B1 [& Y& Z% o2 u: z5 }; E
2021 $1,068 $1,276 NA NA! F/ y& v \6 x1 D3 g) b
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