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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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/ W, J8 |$ g0 }8 h2020财年美国预算赤字预计为1.1万亿美元' q) E0 V5 g" y2 w
7 _6 i7 } b- N0 nThe 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.
* W' V8 w& y) {4 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! ^1 O8 p( \9 R& r+ O
* g6 l8 s3 z% [Fiscal Year Deficit (in billions) Debt Deficit/GDP Events& `6 ^% A% r1 L+ p1 b' O- {/ {+ v1 S
1929 ($1) ($1) (0.7%) Market crash( M' D" Y3 q: s1 Z! A- X
1930 ($1) ($1) (0.8%) Smoot-Hawley- O7 e. E7 t2 z. p
1931 $0 $1 0.6% Dust Bowl7 e2 A# Z" h4 X! `
1932 $3 $3 4.5% Hoover tax hike
( }+ X: D3 v+ M- B; b1933 $3 $3 4.5% FDR New Deal4 H3 ]' q. S- l5 {/ B$ r
1934 $4 $5 5.4% GDP up 10.8%, debt also rose
5 p( ? C% P9 S ]6 q5 H/ t9 ]1935 $3 $2 3.8% Social Security- f3 @3 I9 u2 S8 Y
1936 $4 $5 5.1% Tax hikes
! C1 U- W4 Q8 e) W4 z. M1937 $2 $3 2.4% Depression returned, third New Deal
) \1 @6 C V1 T9 }1938 $0 $1 0.1% Dust Bowl ended
! n& T2 x# q. V# h8 G1939 $3 $3 3.0% Depression ended; \ H. A, c) x6 Y8 K9 n; Q0 n& h
1940 $3 $3 2.8% Defense increased! r5 `4 V s1 @; Q
1941 $5 $6 3.8% Pearl Harbor
: @9 u; y) O" n- `; U1942 $21 $23 12.3% Battle of Midway
2 t1 o) R! r; q1943 $55 $64 26.9% Defense tripled" V; v, w7 u0 V% Q9 S" }. w
1944 $48 $64 21.2% Bretton Woods
# h4 ^3 `" g1 n1945 $48 $58 20.0% WWII ended7 K0 I S- a, g
1946 $16 $11 7.0% Recession7 p- w8 H A6 c( t
1947 ($4) ($11) (1.6%) Cold War5 l' o) L- g2 g% \# c! b6 ~9 i4 K1 P; ]
1948 ($12) ($6) (4.2%) Recession
# L9 }3 x0 y u$ x3 f/ x( O2 ?1949 ($1) $0 (0.2%) Recession) e7 c( }. h8 j
1950 $3 $5 1.0% Korean War
' J$ F( l4 E4 Z; e1951 ($6) ($2) (1.7%) Expansion
* c; [5 t! u; }1 m r0 _1952 $2 $4 0.4% Expansion/ |" E+ q& ~, v2 E' @9 l
1953 $6 $7 1.7% Korean War ended, recession
: |1 {& N) E8 x8 ]/ x6 Z5 T1954 $1 $5 0.3% Recession, Eisenhower budgets+ ^) T1 E* j- W4 _
1955 $3 $3 0.7% Expansion. ~0 V7 O! G; z( M$ i
1956 ($4) ($2) (0.9%) Expansion8 y$ x( ^$ F; W+ b2 ]
1957 ($3) ($2) (0.7%) Recession
( m' E$ d4 G! g+ v/ j1958 $3 $6 0.6% Recession ended
. f& F" |$ @ m( @8 o+ f5 \% {1959 $13 $8 2.4% Fed raised rates- f L* r6 L. d( Z
1960 $0 $2 (0.1%) Recession# V8 V1 N5 s/ y g9 j$ O
1961 $3 $3 0.6% JFK & Bay of Pigs* Y5 u, d7 \- R2 Y8 u% E
1962 $7 $10 1.2% Cuban Missile Crisis' v' O+ @2 b, @, R% f
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
$ Q9 c" j$ X, L9 ^8 V) w! X, t e1964 $6 $6 0.9% LBJ War on Poverty% G9 v+ E& E i2 Q: \7 q: ^8 R' Y
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
# u* J+ E0 @% ?1 t2 M6 t' t' r1966 $4 $3 0.5% $ w9 y8 r7 F! v8 A( B. A% y
1967 $9 $6 1.0% Expansion Z( ~) t; g( y0 m5 K6 `
1968 $25 $21 2.6% Moon landing* }% m) v' V1 J& n5 J# m
1969 ($3) $6 (0.3%) Nixon took office
) Y7 W2 Y5 w, _- E/ f1970 $3 $17 0.3% Recession* f7 N& }: Q2 C2 H$ O, ?7 y
1971 $23 $27 2.0% Wage-price controls9 t6 d/ ?' b# B
1972 $23 $29 1.8% Stagflation3 y$ l% u; D; n! E; U/ M
1973 $15 $31 1.0% End of gold standard
1 i8 B- v ^ m0 R) ], Y1974 $6 $17 0.4% Budget process created, Watergate( K0 Z% n! I# l6 d8 P
1975 $53 $58 3.1% Ford budget, Vietnam War ended( ]* E+ }4 `" X* I) ]
1976 $74 $87 3.9% Stagflation6 z3 X X: N7 @/ ^
1977 $54 $78 2.5% Stagflation+ T. D5 K$ o3 G6 Q
1978 $59 $73 2.5% Carter budget, Recession
$ J1 T- k- j. x- u9 V1979 $41 $55 1.5% Recession
. ] }4 E# x, M& a* J- \! U7 V1980 $74 $81 2.6% Volcker raised rates to 20%4 i" X6 L3 G. m# {! R/ t y
1981 $79 $90 2.4% Reagan tax cut
0 h" L9 D7 Z& C& t1982 $128 $144 3.8% Reagan increased spending# N8 C. k+ L, P6 t
1983 $208 $235 5.6% Jobless rate was 10.8%- m: a- F U% I2 s6 K, W* ^
1984 $185 $195 4.5% Increased defense spending: s) @1 k ?/ I# E( i& e+ S
1985 $212 $256 4.8% Increased defense spending
1 S q' h% n: S4 K+ K8 y1986 $221 $297 4.8% Tax cut
! W W9 [4 v% A1987 $150 $225 3.1% Market crash
0 A( I# r. }( V, H9 q" t. G) L1988 $155 $252 2.9% Fed raised rates
1 T0 Z$ Y$ G2 K" p( q! d+ Z1 R7 d1989 $153 $255 2.7% S&L Crisis, Bush 41 budget3 `$ ~; |1 V, M0 I' Y# q8 r
1990 $221 $376 3.7% Desert Storm
/ E* A% R- l5 D9 l1991 $269 $432 4.3% Recession
2 y; t4 R* A9 n# c3 }; s$ |, ?1992 $290 $399 4.4% Expansion9 H. D6 L- \# G! u
1993 $255 $347 3.7% Clinton signed Budget Act
) e5 D* m2 X+ R) o% b1994 $203 $281 2.8% Clinton budget% G6 z3 _6 A2 S% y
1995 $164 $281 2.1% Expansion& H5 M' }" \1 p
1996 $107 $251 1.3% Welfare reform* O1 o4 i: t2 n9 p1 M
1997 $22 $188 0.3% Expansion4 ~" ?# f( l$ {$ N: q- |% L; F
1998 ($69) $113 (0.8%) LTCM crisis, recession/ F; K7 W( |$ O" _. i2 e; L# a
1999 ($126) $130 (1.3%) Glass-Steagall repealed
" M0 m/ w# _2 n' O& I+ e; I2000 ($236) $18 (2.3%) Surplus/ z4 U! s2 M$ @( G; Z8 L
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA" l, ~) t" s- V8 o) {) [
2002 $158 $421 1.4% War on Terror# C% n$ I1 z0 ^( S8 J& {
2003 $378 $555 3.3% JGTRRA
/ @( t T1 H& v& C$ f3 l2 A2004 $413 $596 3.4% Iraq War
$ P/ R& t! J- R3 Z2005 $318 $554 2.4% Katrina, Bankruptcy Act
7 n7 c3 y' o' `9 L& Y* F6 T) k2 F8 x2006 $248 $578 1.8% Bernanke chairs Fed. ]4 y; G2 _9 ]( Q% v; l
2007 $161 $501 1.1% Bank crisis
( ~* F+ `) I% y% B' N3 Y9 A6 D+ l2008 $459 $1,017 3.1% Bank bailout, QE3 n5 d5 |) c5 Z8 D) J
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
4 Q4 N. U+ A1 f0 p2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
* x! {4 p- E% ]7 u" b: [2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue k3 ^8 i. c2 n3 N1 I. f' G
2012 $1,087 $1,276 6.7% Fiscal cliff
" \; A5 ~$ r- u7 [" r2013 $679 $672 4.0% Sequester, government shutdown
1 K% s" l; m! d% R; P5 Z2014 $485 $1,086 2.7% Debt ceiling
1 \; d8 [$ v, U, ~/ B; h; A2015 $438 $327 2.4% Defense = $736.4B6 E$ I" r; b( I) h9 z7 n
2016 $585 $1,423 3.1% Defense = $767.6B
/ w, ?# \( f. A2017 $665 $672 3.4% Defense = $817.9B$ K- H# U. u0 {8 F
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts- ?3 e5 S$ ]$ X* E- {
2019 $1,091 $1,314 NA Defense = $956.5B
4 Y6 t: {" E+ q0 c, s2020 $1,101 $1,281 NA Defense = $989B+ Z: N: a" m/ R: G2 P1 J$ V
2021 $1,068 $1,276 NA NA
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