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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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0 R1 D6 ]6 f- [* f3 B6 o: D4 N- w, U2020财年美国预算赤字预计为1.1万亿美元6 q2 l8 i! t u8 A
6 S) h+ X9 {1 a& e$ @2 d/ wThe 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.
& s' y d! N# J, h# S, [ 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4 K. t4 K3 ]: i$ g) z
6 M6 B( X/ m2 D% |Fiscal Year Deficit (in billions) Debt Deficit/GDP Events+ `. _4 v* q& s" \; l1 ~
1929 ($1) ($1) (0.7%) Market crash
/ a7 Y4 K/ a9 `; j* x1930 ($1) ($1) (0.8%) Smoot-Hawley
* L- ^7 ?* V( a; i1931 $0 $1 0.6% Dust Bowl
8 @/ C# U& _/ W1932 $3 $3 4.5% Hoover tax hike/ O+ M" ^3 W! X3 S! ]8 r( L- B
1933 $3 $3 4.5% FDR New Deal# i6 n& H Z0 \, F
1934 $4 $5 5.4% GDP up 10.8%, debt also rose
# @8 M& Q! Z* n2 X" x: F- U+ l1935 $3 $2 3.8% Social Security' S' r5 H4 t* O) P% b
1936 $4 $5 5.1% Tax hikes
# U; s( X: o6 M8 K: |' Y$ R1937 $2 $3 2.4% Depression returned, third New Deal* E- [% [4 i* T- U$ h# [/ N
1938 $0 $1 0.1% Dust Bowl ended. V' q& X f) c0 e& s
1939 $3 $3 3.0% Depression ended
2 T, T n" Z. W1 I5 b' \7 s6 U1940 $3 $3 2.8% Defense increased: R& l2 s+ i' `) E- v8 i0 T
1941 $5 $6 3.8% Pearl Harbor8 t$ B% {9 m" N3 i, U8 z
1942 $21 $23 12.3% Battle of Midway
8 {$ y" g7 m; z0 F3 z1943 $55 $64 26.9% Defense tripled7 k1 g6 z* f; l+ q: M' X: N
1944 $48 $64 21.2% Bretton Woods$ t a' s/ a& K; w
1945 $48 $58 20.0% WWII ended
" h2 V! b4 W: f9 Y3 }6 \( p: G# A1946 $16 $11 7.0% Recession! A ~% e. [/ x( ?) ~0 q& U) T& U
1947 ($4) ($11) (1.6%) Cold War6 G1 e0 ^# l+ g
1948 ($12) ($6) (4.2%) Recession
+ T0 q7 z- i) G4 g7 d" _6 O1949 ($1) $0 (0.2%) Recession' G8 Q% t& ^- v( D+ w9 R
1950 $3 $5 1.0% Korean War% \, ^% d% ?' ~9 y/ l
1951 ($6) ($2) (1.7%) Expansion O" S: _7 L% P) C! {1 i ^. e* N7 X
1952 $2 $4 0.4% Expansion
. c6 l' G" Z6 a, Y1953 $6 $7 1.7% Korean War ended, recession, C) p- ~3 i+ k6 D9 U
1954 $1 $5 0.3% Recession, Eisenhower budgets3 g1 \3 B2 _6 F6 n
1955 $3 $3 0.7% Expansion
# y7 ^; N8 ?' {# Z6 p1956 ($4) ($2) (0.9%) Expansion
5 c" Z) a; h2 X( B1957 ($3) ($2) (0.7%) Recession
) r# W* u) e; u, D3 q6 }! E. s1958 $3 $6 0.6% Recession ended
# e9 {1 n- T' a# z1959 $13 $8 2.4% Fed raised rates8 {, M* o3 R8 P u) |4 z
1960 $0 $2 (0.1%) Recession
/ `5 T7 a" q( f8 Q- S1961 $3 $3 0.6% JFK & Bay of Pigs
8 v# r% ~! N# b) h) ]2 P1962 $7 $10 1.2% Cuban Missile Crisis
+ C( |5 L5 p; M- l4 E. G. y1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
, V; X% {; z0 W" B# X1964 $6 $6 0.9% LBJ War on Poverty
3 E5 e$ T$ }! T8 b" Q9 R1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
7 P6 \( q) {% V4 J" S# L1966 $4 $3 0.5% 5 U" S3 F/ P) o1 Z
1967 $9 $6 1.0% Expansion
* b6 ~' J8 i4 i* [) t# H0 e1 I* u3 Y1968 $25 $21 2.6% Moon landing
! e, N+ h* u; U: b6 q1969 ($3) $6 (0.3%) Nixon took office; ^: f& K0 K! j# I
1970 $3 $17 0.3% Recession/ k' M/ }+ U" C8 q: W2 n
1971 $23 $27 2.0% Wage-price controls1 @4 f6 G! Z+ e) X9 Q
1972 $23 $29 1.8% Stagflation
! V% l% { l$ g1973 $15 $31 1.0% End of gold standard
7 H6 h5 B$ W! m8 g( ^" x1974 $6 $17 0.4% Budget process created, Watergate; `0 V) O$ F* M# e0 z7 R; D: q
1975 $53 $58 3.1% Ford budget, Vietnam War ended
% O9 ~4 U' t- u2 t" s1 d1976 $74 $87 3.9% Stagflation
" q" D' t; z0 K/ R' Y" j2 Z1977 $54 $78 2.5% Stagflation
# P* c# }% P" ~* I3 m1978 $59 $73 2.5% Carter budget, Recession/ j, b, W& {, F) B, F
1979 $41 $55 1.5% Recession& q0 r4 {: S0 }9 O& z4 s
1980 $74 $81 2.6% Volcker raised rates to 20%
- `3 f1 ^. z& u8 u4 }4 _! {1981 $79 $90 2.4% Reagan tax cut
# K% {6 o( s2 O$ j$ h1982 $128 $144 3.8% Reagan increased spending" H$ y% B, T! c5 J4 |" T
1983 $208 $235 5.6% Jobless rate was 10.8%
8 V. N3 Y5 a4 b7 I1 k1984 $185 $195 4.5% Increased defense spending
0 K0 I) @' H7 v1985 $212 $256 4.8% Increased defense spending( T) \( ]0 x. R4 o$ _( U
1986 $221 $297 4.8% Tax cut
: }' q* _) g) h2 D/ u4 m. M1987 $150 $225 3.1% Market crash }+ i7 K, ~- j3 d/ D! u
1988 $155 $252 2.9% Fed raised rates
) x8 H% H6 |1 O6 ?1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
0 l0 j5 `/ K2 w5 g+ ^7 `- R1990 $221 $376 3.7% Desert Storm, E1 l4 W* u2 \# \/ m4 J
1991 $269 $432 4.3% Recession9 T: j" l* }- ], \* G3 z
1992 $290 $399 4.4% Expansion/ p! }7 B6 x4 R4 G+ N9 n0 G
1993 $255 $347 3.7% Clinton signed Budget Act
# t4 T/ ^* s m1994 $203 $281 2.8% Clinton budget
5 |, }5 a/ |4 A+ Z9 n6 I1995 $164 $281 2.1% Expansion
$ k/ Z; K/ R# ?5 M7 a7 B3 K1996 $107 $251 1.3% Welfare reform
0 E' Q7 f' Q' a( N6 D: Z$ K1997 $22 $188 0.3% Expansion4 P8 E$ S6 r+ q1 p; P( Y! E" X' V
1998 ($69) $113 (0.8%) LTCM crisis, recession
4 J( a- `9 \" _( T1999 ($126) $130 (1.3%) Glass-Steagall repealed/ J& E% J, v% `
2000 ($236) $18 (2.3%) Surplus, \6 o- J4 ~6 @3 Q$ v
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA/ p" U' B, \9 V
2002 $158 $421 1.4% War on Terror
" t# e0 i* |- c$ b; U9 r. T2003 $378 $555 3.3% JGTRRA, N5 H: B: R# Z3 }
2004 $413 $596 3.4% Iraq War
" q0 |) i# |( [4 S5 }2005 $318 $554 2.4% Katrina, Bankruptcy Act
4 Y. S i+ h0 i# }2 ?2006 $248 $578 1.8% Bernanke chairs Fed2 w6 U; a" ^" n) w" y
2007 $161 $501 1.1% Bank crisis# ]$ B- r3 ? H$ P5 p7 S+ i/ a! e
2008 $459 $1,017 3.1% Bank bailout, QE
! ^+ \5 V5 C, y3 z2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
$ m6 [7 J% h- Y/ s% I; R5 j2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
" Q$ M) H7 g G7 V1 C2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue# r6 p# [3 n2 f& R
2012 $1,087 $1,276 6.7% Fiscal cliff
0 z9 p6 T4 Q, {; ]& z5 z* T2013 $679 $672 4.0% Sequester, government shutdown$ p$ k% j# N0 B3 Y8 h% n* e* k, K9 {
2014 $485 $1,086 2.7% Debt ceiling
& q: k5 R4 ]7 w5 x6 N9 Y3 f! @8 c2015 $438 $327 2.4% Defense = $736.4B
& r5 D. R* j7 Q6 K2016 $585 $1,423 3.1% Defense = $767.6B
" j8 R t' m% e1 J) ~' s2017 $665 $672 3.4% Defense = $817.9B, W, o) g! g9 I c8 K" f
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts( }( z$ l. |/ [& P% @3 `! u) z N
2019 $1,091 $1,314 NA Defense = $956.5B; T l R' G( g. f0 r! k
2020 $1,101 $1,281 NA Defense = $989B
% ^4 V+ d. f3 q! O7 L. g3 t2021 $1,068 $1,276 NA NA
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