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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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2020财年美国预算赤字预计为1.1万亿美元7 l/ g; ^( T5 m$ M _
( P0 R, T& E' e$ q( q6 b' YThe 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.
+ @$ e- z* z4 g9 M3 o 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. Z/ u3 V- `$ e/ s, f! l1 s$ S( h! L
+ I% \8 R L- o7 s$ sFiscal Year Deficit (in billions) Debt Deficit/GDP Events
3 t) B" @) p, h7 N* T* O/ _1929 ($1) ($1) (0.7%) Market crash
- o+ x4 P4 A/ ?% d1 I# j ~6 ~1930 ($1) ($1) (0.8%) Smoot-Hawley- B8 ]+ X1 z( r' p" P4 ]6 l& G
1931 $0 $1 0.6% Dust Bowl
7 C: t& C E% M4 _& n1932 $3 $3 4.5% Hoover tax hike
% C0 Q- `8 n- O5 H* C3 O1933 $3 $3 4.5% FDR New Deal+ J; R8 M+ b: P" }& Y; i
1934 $4 $5 5.4% GDP up 10.8%, debt also rose
' ^7 @. ?' e* C Y1935 $3 $2 3.8% Social Security
9 X. z; u9 }1 O* x- s1936 $4 $5 5.1% Tax hikes8 h6 s5 j+ q4 u+ S2 Z# j2 i
1937 $2 $3 2.4% Depression returned, third New Deal) T8 c/ c9 V7 x7 _ @/ S) L
1938 $0 $1 0.1% Dust Bowl ended" Q. f9 ~1 `& |9 V: B% j6 K; z
1939 $3 $3 3.0% Depression ended
6 t, D9 e$ M1 q9 H( r4 O+ a1940 $3 $3 2.8% Defense increased5 h, b3 r0 v! L. x }
1941 $5 $6 3.8% Pearl Harbor9 C9 L+ L4 I+ k
1942 $21 $23 12.3% Battle of Midway, k+ t% N- ?8 T% s& ^3 i# I
1943 $55 $64 26.9% Defense tripled
: t+ \; c @1 Z* q1944 $48 $64 21.2% Bretton Woods
3 m. m8 q+ W7 Q: ~# b1945 $48 $58 20.0% WWII ended
6 x3 F8 W* K" n5 u* G8 I3 I2 q1946 $16 $11 7.0% Recession
; G) P) B4 a0 H1947 ($4) ($11) (1.6%) Cold War
) |0 E1 b) N0 o8 X" W# P. U1948 ($12) ($6) (4.2%) Recession
1 ^% k8 i$ @0 z1949 ($1) $0 (0.2%) Recession
/ ?8 K& }/ ?4 @# ], N1950 $3 $5 1.0% Korean War
' s: N+ K0 ^& ]! |1951 ($6) ($2) (1.7%) Expansion/ K# H5 u' K1 f
1952 $2 $4 0.4% Expansion6 ~* i6 Z6 I( i
1953 $6 $7 1.7% Korean War ended, recession
8 |$ `. v. s* k( g9 u1954 $1 $5 0.3% Recession, Eisenhower budgets% o5 T3 {& A6 j; a
1955 $3 $3 0.7% Expansion
5 _9 Z$ l' U- h t3 V5 ]3 c1956 ($4) ($2) (0.9%) Expansion- i0 Q! E2 G4 \
1957 ($3) ($2) (0.7%) Recession8 ~+ I) q! v+ I' y
1958 $3 $6 0.6% Recession ended6 w4 \) B" W- A
1959 $13 $8 2.4% Fed raised rates! d5 `# b/ K9 ^4 Y# V6 d
1960 $0 $2 (0.1%) Recession
* x; E0 m0 `" V1 ^. H0 F7 k1961 $3 $3 0.6% JFK & Bay of Pigs
' m* t4 F- ]: r4 G1962 $7 $10 1.2% Cuban Missile Crisis/ B6 l* V$ H. S3 }8 ]5 z7 Z
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
1 W- {5 A2 v) H" P0 p2 d1964 $6 $6 0.9% LBJ War on Poverty4 |4 D6 |! i( E% g) B+ I! X
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
3 v6 E- `. W# ^1966 $4 $3 0.5% - o7 h4 X7 p# `" d
1967 $9 $6 1.0% Expansion0 m {2 N( B) |! Q
1968 $25 $21 2.6% Moon landing
# B; U, s# b! u8 o: ~8 E# Q1969 ($3) $6 (0.3%) Nixon took office
2 x5 Z( I: W) d7 H1970 $3 $17 0.3% Recession
+ W! H; P/ I, \4 k: x. t9 h, p1971 $23 $27 2.0% Wage-price controls, y0 t* V$ N! v
1972 $23 $29 1.8% Stagflation9 I5 `, W' ~4 P# e0 T2 {7 h
1973 $15 $31 1.0% End of gold standard
' }" l6 ?) R3 ]) }8 t1974 $6 $17 0.4% Budget process created, Watergate3 Z9 Q( o/ Y0 F, W! z% t$ c
1975 $53 $58 3.1% Ford budget, Vietnam War ended( I$ g7 s/ A- l: x* U
1976 $74 $87 3.9% Stagflation) F7 R4 [1 n5 p1 V
1977 $54 $78 2.5% Stagflation
' M0 N1 _; X% b6 R( m3 Z7 X1978 $59 $73 2.5% Carter budget, Recession
8 b4 F- \; W! k' Z4 r1979 $41 $55 1.5% Recession9 i* U& p. {# p6 f
1980 $74 $81 2.6% Volcker raised rates to 20%/ l3 q6 F3 N% B0 i! b, T3 s
1981 $79 $90 2.4% Reagan tax cut. F' o1 t, a u
1982 $128 $144 3.8% Reagan increased spending
: {: a: o0 [( Q X! ]# x/ b9 R1983 $208 $235 5.6% Jobless rate was 10.8%; E$ }- c! N' S) c/ c
1984 $185 $195 4.5% Increased defense spending
8 n" D+ T+ {6 m# ~, R1985 $212 $256 4.8% Increased defense spending
& U) J' E) k6 l5 O9 ?1 H* c5 P1986 $221 $297 4.8% Tax cut/ y6 X/ V( e8 D
1987 $150 $225 3.1% Market crash/ X/ ?" o: k7 D# ]; C1 Z; r6 i9 Q
1988 $155 $252 2.9% Fed raised rates
: P/ l% K- `& @0 b2 w# a8 ?1989 $153 $255 2.7% S&L Crisis, Bush 41 budget( C8 o' ~$ N0 [6 `5 @- q2 `
1990 $221 $376 3.7% Desert Storm
4 b, N& P. T7 Y9 i. a1991 $269 $432 4.3% Recession2 t. G" c- m) g
1992 $290 $399 4.4% Expansion
/ a6 `4 v# F) p$ r5 {1993 $255 $347 3.7% Clinton signed Budget Act
/ c: G4 i1 ?% r1994 $203 $281 2.8% Clinton budget# ^$ l2 D0 v- }6 X; \" o1 F" v
1995 $164 $281 2.1% Expansion
6 O# v8 N9 q- Z8 S1996 $107 $251 1.3% Welfare reform2 H# @) K" A$ X2 O' O
1997 $22 $188 0.3% Expansion
& R( H. C+ C0 c# d: i N1998 ($69) $113 (0.8%) LTCM crisis, recession
! T( H0 x/ }* p6 Z Z1999 ($126) $130 (1.3%) Glass-Steagall repealed+ V9 ?: s( @* b& [
2000 ($236) $18 (2.3%) Surplus
- J# f: q: K. e" j' r/ ?) X- |2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA6 B8 W/ h. p3 i' T* f$ M
2002 $158 $421 1.4% War on Terror, G( W' a8 f& q2 n% H/ o1 A
2003 $378 $555 3.3% JGTRRA
, a! Z7 x2 p/ Y# s2004 $413 $596 3.4% Iraq War( C4 P% ]! u: ^5 f0 f. p6 `( A
2005 $318 $554 2.4% Katrina, Bankruptcy Act
% Y0 e* d7 `9 N9 h2006 $248 $578 1.8% Bernanke chairs Fed* {: b; @7 j% t3 W g6 h2 [: O7 A
2007 $161 $501 1.1% Bank crisis
) \3 {' ^1 i! m, W$ A6 H2008 $459 $1,017 3.1% Bank bailout, QE
" A: b+ Z: T9 n7 y+ k" l2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B# O1 b1 Q6 n# \- C8 z7 u
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles" ~' _0 a/ {" \: H) l
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue# Y, y$ V8 t" K/ ]
2012 $1,087 $1,276 6.7% Fiscal cliff& j* k& y% F. I8 X& b
2013 $679 $672 4.0% Sequester, government shutdown
9 }6 z7 S7 S6 V3 x$ R2014 $485 $1,086 2.7% Debt ceiling
% L( N3 \( g# w2015 $438 $327 2.4% Defense = $736.4B! k: |% H2 ^+ m8 e+ X
2016 $585 $1,423 3.1% Defense = $767.6B
) p( I& b3 `" y0 F$ D: J0 W: w2017 $665 $672 3.4% Defense = $817.9B
; G% m4 E8 g Y& o; g8 h( i2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
* F4 K: i( Q; Z$ n& M2019 $1,091 $1,314 NA Defense = $956.5B2 V! J2 f. {$ u) U& N
2020 $1,101 $1,281 NA Defense = $989B
. B- e. Z5 G2 }, _9 G2021 $1,068 $1,276 NA NA
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