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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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/ [' ~3 i0 v9 {4 [2020财年美国预算赤字预计为1.1万亿美元* y* {0 n# s7 `5 F( V. a5 P0 F! }
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The first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.
! n, |$ j. E8 D0 B' ^( H 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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: ?+ h" f& c2 M! wFiscal Year Deficit (in billions) Debt Deficit/GDP Events: \# u- G3 t! x7 |( i7 s
1929 ($1) ($1) (0.7%) Market crash5 k6 W( |0 W1 _( X4 J! e
1930 ($1) ($1) (0.8%) Smoot-Hawley
( d! e7 f- ` u/ {1931 $0 $1 0.6% Dust Bowl
# W8 n4 v: y- j+ |' w1 B1932 $3 $3 4.5% Hoover tax hike% f, A1 M" j; @. T0 r1 {( B! J( O
1933 $3 $3 4.5% FDR New Deal
]) q7 O3 Q! u1934 $4 $5 5.4% GDP up 10.8%, debt also rose. S; m$ _2 ]1 z* v
1935 $3 $2 3.8% Social Security
1 I1 G7 M3 `- P1 s1936 $4 $5 5.1% Tax hikes: y1 n5 G) I* Z3 y* \! j
1937 $2 $3 2.4% Depression returned, third New Deal' _; |) ` L% ]5 p+ Z; z3 D
1938 $0 $1 0.1% Dust Bowl ended
; ]+ X. x2 z6 t* a' Y1939 $3 $3 3.0% Depression ended
% B' s Y7 X5 T8 y2 T1940 $3 $3 2.8% Defense increased/ R+ C: k/ j7 F0 y
1941 $5 $6 3.8% Pearl Harbor1 R1 b! A/ ?) F* \
1942 $21 $23 12.3% Battle of Midway
. ?* {/ N6 t, p. S9 [( l( }1943 $55 $64 26.9% Defense tripled1 E9 \4 ]: X4 n4 j# q2 l7 i4 m
1944 $48 $64 21.2% Bretton Woods* D9 f- a7 o L# Z# Z) e3 i
1945 $48 $58 20.0% WWII ended! G, @8 L1 A! X2 U' f: v
1946 $16 $11 7.0% Recession- r0 @6 j6 P U8 P
1947 ($4) ($11) (1.6%) Cold War
* A9 Z8 f1 E4 v, `" g1948 ($12) ($6) (4.2%) Recession
$ O$ N+ T, b" ]* ~- |1 ]* s0 h1949 ($1) $0 (0.2%) Recession5 u3 N$ B& P9 r+ J: Y1 R6 v
1950 $3 $5 1.0% Korean War" r2 x4 _6 k) \+ p( s& k& {3 u
1951 ($6) ($2) (1.7%) Expansion
0 h4 ?) @- x7 t, O) c1952 $2 $4 0.4% Expansion2 s, ^, O8 L; w/ h
1953 $6 $7 1.7% Korean War ended, recession
5 @2 ~1 D- D* o5 O1 y& o# \* k1954 $1 $5 0.3% Recession, Eisenhower budgets
& K7 x- ]1 B- v5 q- F% w1955 $3 $3 0.7% Expansion! e" b% y/ W: U
1956 ($4) ($2) (0.9%) Expansion
4 C% {5 \+ l4 U( [1957 ($3) ($2) (0.7%) Recession6 Q4 q6 `6 T* l) Y/ v
1958 $3 $6 0.6% Recession ended
) b1 f S( k- }& ]' {1959 $13 $8 2.4% Fed raised rates% B% z. a/ T6 A( C ^7 D5 `/ z
1960 $0 $2 (0.1%) Recession D" k! \! n( i3 V2 O R! D
1961 $3 $3 0.6% JFK & Bay of Pigs% c1 D9 u! t$ b
1962 $7 $10 1.2% Cuban Missile Crisis0 J ]3 I1 |0 D+ E+ w7 ^6 g* g
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed$ U) G8 }9 p5 \# q
1964 $6 $6 0.9% LBJ War on Poverty
, `4 b" y+ V% V9 @6 e8 A& E8 g" ?$ a1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
3 O( y& e: k. a! w; \! f& S1966 $4 $3 0.5%
' N* h8 D2 G9 W' U; e( B$ |* f1967 $9 $6 1.0% Expansion7 o# _% W& t* R/ V0 _& q! ?
1968 $25 $21 2.6% Moon landing v# D! g q# m
1969 ($3) $6 (0.3%) Nixon took office
* C0 F, W5 O% p$ U# ^1970 $3 $17 0.3% Recession
5 F7 ^5 @# k' x1 Z, Z, j; d, K8 D1971 $23 $27 2.0% Wage-price controls
; \, u, H8 v2 k. ?4 O1972 $23 $29 1.8% Stagflation4 O( p0 J7 i8 M4 @, H# n' f+ a
1973 $15 $31 1.0% End of gold standard1 j& Q* U1 t1 Y9 ~1 i* B
1974 $6 $17 0.4% Budget process created, Watergate6 f8 l4 r e1 ?6 S- Q0 t
1975 $53 $58 3.1% Ford budget, Vietnam War ended
8 }" Y* J+ u; g3 ]9 z1976 $74 $87 3.9% Stagflation
1 ]. a. W O5 I8 k- \% h1977 $54 $78 2.5% Stagflation
: d) u: r# v& i* M6 ?1 U$ ^: {) C4 [1978 $59 $73 2.5% Carter budget, Recession
+ R9 I, F2 Y$ M3 G1979 $41 $55 1.5% Recession
9 ?' b" m" h8 \2 q f1980 $74 $81 2.6% Volcker raised rates to 20%
. j$ v, Z5 v" H j" y( D; D; m1981 $79 $90 2.4% Reagan tax cut$ y% Z' m' x W+ s
1982 $128 $144 3.8% Reagan increased spending" m' V9 Y; Y& ?5 U8 W* B! f
1983 $208 $235 5.6% Jobless rate was 10.8%! B5 I/ X: J' @( a
1984 $185 $195 4.5% Increased defense spending
, v6 a! V1 v) V9 ^& A1 v1985 $212 $256 4.8% Increased defense spending
# `! t- h8 Z* Q& Y1986 $221 $297 4.8% Tax cut
; H$ D4 e2 F9 o1987 $150 $225 3.1% Market crash
6 r* I5 E4 o( [/ Z: s1988 $155 $252 2.9% Fed raised rates8 V9 A9 a s1 u' r& f. F
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
; S4 x$ a/ j4 z$ P1990 $221 $376 3.7% Desert Storm
' |8 f5 v) Q) R1991 $269 $432 4.3% Recession9 z/ d3 o) C$ o4 L: ~. S* D+ H9 ?
1992 $290 $399 4.4% Expansion1 ?. b7 m' H! n7 q8 |; I/ p
1993 $255 $347 3.7% Clinton signed Budget Act9 ~- I2 e- f* I1 j* `
1994 $203 $281 2.8% Clinton budget
- r" E2 |) V( I0 j5 c* ?+ U* D1 H1995 $164 $281 2.1% Expansion
+ L0 Y2 l. |( ~1 n8 V1996 $107 $251 1.3% Welfare reform7 q. X! m: j1 |- t1 d# g3 Y7 J
1997 $22 $188 0.3% Expansion# |( Q7 ]9 X& D
1998 ($69) $113 (0.8%) LTCM crisis, recession
: @% S8 W. I: Y u2 ?9 n1999 ($126) $130 (1.3%) Glass-Steagall repealed, u$ W4 R' L2 g$ b3 s9 Y: N }- r
2000 ($236) $18 (2.3%) Surplus( x/ R H1 ^' i$ u7 _
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA( x9 d3 P7 _; g9 q
2002 $158 $421 1.4% War on Terror1 Y0 K; k8 N. o' J- @: y* _$ A, M A9 n
2003 $378 $555 3.3% JGTRRA
- R% C! e3 {! W4 l& o2004 $413 $596 3.4% Iraq War& \* h4 u ^1 h* Y. ` k
2005 $318 $554 2.4% Katrina, Bankruptcy Act
, A* a4 b5 i8 I2006 $248 $578 1.8% Bernanke chairs Fed
9 L0 T$ `1 w( g4 V. c0 c8 z6 [2007 $161 $501 1.1% Bank crisis
# ]- D& n* A; {! `2008 $459 $1,017 3.1% Bank bailout, QE; c) p7 W! o% K7 a7 ~$ l) v
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
0 U7 O5 T5 k% b5 [! }4 U- j7 _# g2 g z2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
9 `" Y1 T* d6 I! e2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
4 ?$ G6 s: i+ f6 G: h' l$ q2012 $1,087 $1,276 6.7% Fiscal cliff
0 O* ]3 V& H/ \2013 $679 $672 4.0% Sequester, government shutdown
1 n- G/ ^" p1 @- @/ f/ L, ^2014 $485 $1,086 2.7% Debt ceiling- J* k/ K( q. }4 p/ i) f' n
2015 $438 $327 2.4% Defense = $736.4B
7 Q4 \3 @, o3 j0 R0 _1 S; K7 V2016 $585 $1,423 3.1% Defense = $767.6B! h5 F$ I( q) h2 P9 u: r2 d* N
2017 $665 $672 3.4% Defense = $817.9B
: _, n( S+ `$ D2 C4 y Q! m2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts3 v, ~: S. J5 o
2019 $1,091 $1,314 NA Defense = $956.5B
8 `! e: A8 p& q* N1 H/ R- r! J2020 $1,101 $1,281 NA Defense = $989B
2 z* G9 s. c4 E2 X# g2021 $1,068 $1,276 NA NA+ A( q' H7 w2 |" u+ q$ Y
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