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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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: h" k6 Q; t# d1 M" T2020财年美国预算赤字预计为1.1万亿美元 T! E. b6 [( R H8 j/ N' \
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The first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.0 h4 a! E! v$ |1 L. I6 @
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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Fiscal Year Deficit (in billions) Debt Deficit/GDP Events- a& R7 N3 g8 M; l, Z
1929 ($1) ($1) (0.7%) Market crash
" {7 ~6 i4 `& g) [1930 ($1) ($1) (0.8%) Smoot-Hawley% e, W# V2 _/ ?; D; X0 U
1931 $0 $1 0.6% Dust Bowl% [' \4 o" X8 e9 u+ c2 J' l
1932 $3 $3 4.5% Hoover tax hike
% F5 ]1 u- W {3 {) z9 W1933 $3 $3 4.5% FDR New Deal
* N- D l/ I9 c8 l6 s: L, u2 w1934 $4 $5 5.4% GDP up 10.8%, debt also rose1 N0 Q2 d) [6 W
1935 $3 $2 3.8% Social Security
: w% F; V. M! ^7 f4 c6 t1936 $4 $5 5.1% Tax hikes
- K) [: e/ K$ R0 A. T" a1937 $2 $3 2.4% Depression returned, third New Deal! r" e/ h! O* Z d2 ?
1938 $0 $1 0.1% Dust Bowl ended
' ~0 _& j, F, c4 {# \9 E$ {/ h5 D* O/ e1939 $3 $3 3.0% Depression ended
$ {" P# {5 z2 N8 B4 p. L$ R( L1940 $3 $3 2.8% Defense increased, L2 g4 S& z; M( R& m; j0 S
1941 $5 $6 3.8% Pearl Harbor
1 u a5 ?8 x+ L; K6 |: C7 K% o5 @ j1942 $21 $23 12.3% Battle of Midway
2 l1 f8 b$ [9 ?( c3 S' W. y2 R: q6 C1943 $55 $64 26.9% Defense tripled
! T0 A+ Q; U, m0 q1944 $48 $64 21.2% Bretton Woods. d# y g) m6 u2 V
1945 $48 $58 20.0% WWII ended
! H; ~& j K# d& _! g7 u3 Y, y1946 $16 $11 7.0% Recession
2 _6 B" z3 A, o3 p, w1947 ($4) ($11) (1.6%) Cold War
2 y; x: I# J" l( v+ Y, ]1948 ($12) ($6) (4.2%) Recession% {7 `& w! c9 c0 a0 j p* Z
1949 ($1) $0 (0.2%) Recession* q x/ `7 `0 P/ C8 Z, P6 H2 G
1950 $3 $5 1.0% Korean War0 M* A% S) j$ ]& ~* V+ ^2 _' @
1951 ($6) ($2) (1.7%) Expansion
$ B1 w2 v! a' B- k3 ^- t( D1952 $2 $4 0.4% Expansion
8 v, W; z) d3 H. F1953 $6 $7 1.7% Korean War ended, recession5 F& I: |: d/ r: v) E9 q1 n
1954 $1 $5 0.3% Recession, Eisenhower budgets, t8 q/ P" k8 U" L+ [; J1 y
1955 $3 $3 0.7% Expansion
V3 K" D+ I, y6 @2 ?0 ]1956 ($4) ($2) (0.9%) Expansion" f- s+ v* ~, \+ ~9 u6 N
1957 ($3) ($2) (0.7%) Recession" ]& m9 X) u5 W f
1958 $3 $6 0.6% Recession ended" w; f9 b1 z. C
1959 $13 $8 2.4% Fed raised rates" [6 l1 ~7 m0 X/ [
1960 $0 $2 (0.1%) Recession k7 w- L5 Q1 f
1961 $3 $3 0.6% JFK & Bay of Pigs
! e; e. x* Y/ ?5 U. X0 N1962 $7 $10 1.2% Cuban Missile Crisis
, f; C; x: n9 K L1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
6 } `9 g! d5 X: Z! j+ d* _ M1964 $6 $6 0.9% LBJ War on Poverty9 D1 E- L/ k' O$ P K
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
" T/ M( W6 S& w' l ]( h1966 $4 $3 0.5% / f3 k# U3 J" {9 @, |; Y) P
1967 $9 $6 1.0% Expansion
; _3 x5 g, e! \$ Z1968 $25 $21 2.6% Moon landing3 ]) X8 Y% o$ K6 v; Y/ m
1969 ($3) $6 (0.3%) Nixon took office& P$ g. w& `; C1 C+ w v
1970 $3 $17 0.3% Recession P1 S" g$ H/ s/ u' u5 a
1971 $23 $27 2.0% Wage-price controls
; U) `) J( U( Q. |" {1972 $23 $29 1.8% Stagflation2 S& p5 F1 Z# d5 v% _6 z
1973 $15 $31 1.0% End of gold standard% y6 ]% K! S1 H
1974 $6 $17 0.4% Budget process created, Watergate2 \) J6 n& V7 W i& D) E n
1975 $53 $58 3.1% Ford budget, Vietnam War ended- c! r$ V# R. e9 S6 _
1976 $74 $87 3.9% Stagflation o2 d; U# H9 z' F( p
1977 $54 $78 2.5% Stagflation
, m: K- q, z) q! T2 ^$ d8 l1978 $59 $73 2.5% Carter budget, Recession* A$ E4 `+ \8 E7 v- a2 y- h
1979 $41 $55 1.5% Recession G# h& \, s4 y$ A$ {" E
1980 $74 $81 2.6% Volcker raised rates to 20%
4 Q4 O) o: P( n# H0 Z! Z7 X1981 $79 $90 2.4% Reagan tax cut
4 B/ }1 Y. b, W; F+ ^1982 $128 $144 3.8% Reagan increased spending4 {. j8 o& ^' K) J. z# i- w
1983 $208 $235 5.6% Jobless rate was 10.8%
5 W/ c- v( D" ^" e0 W1984 $185 $195 4.5% Increased defense spending/ v+ j3 ~8 ?, l0 _
1985 $212 $256 4.8% Increased defense spending* X& v4 k# c) @* s# K4 M9 H
1986 $221 $297 4.8% Tax cut: J2 e4 V& p# T
1987 $150 $225 3.1% Market crash
t) i1 w7 i$ k1988 $155 $252 2.9% Fed raised rates8 p. g: q) U4 L0 Z
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
% ] L0 z6 b" `( ]1990 $221 $376 3.7% Desert Storm
9 k" e. o, Z& N+ {' q* n* d1991 $269 $432 4.3% Recession
0 o+ v$ j) \% w9 ^1992 $290 $399 4.4% Expansion7 g. ]: c% x; I# l
1993 $255 $347 3.7% Clinton signed Budget Act, k/ d5 t$ a6 n3 z! r4 C: K. |5 m2 H
1994 $203 $281 2.8% Clinton budget) ~8 q5 L |* }9 F9 ^
1995 $164 $281 2.1% Expansion; e. N0 `; w6 O4 D+ s8 G
1996 $107 $251 1.3% Welfare reform' x0 L6 U3 h6 X- }1 a3 I* v) u
1997 $22 $188 0.3% Expansion
/ Y- X6 f6 [! X3 R% t1998 ($69) $113 (0.8%) LTCM crisis, recession$ t6 Y' I9 i) p: m
1999 ($126) $130 (1.3%) Glass-Steagall repealed
( e$ B t5 o' o0 }; q2000 ($236) $18 (2.3%) Surplus+ Z2 @. g' {7 [$ O
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA% ~, Z; u5 o8 W" ~) P5 F v
2002 $158 $421 1.4% War on Terror5 Z* o- T8 g6 t, t, ^8 S4 z* Y7 `. u' [
2003 $378 $555 3.3% JGTRRA3 z4 v2 w, m; M% o; ?' }, |
2004 $413 $596 3.4% Iraq War* e' P% U P. T2 R: r7 Q X; Q
2005 $318 $554 2.4% Katrina, Bankruptcy Act
2 |4 ^- L( I" w/ e5 u' l7 t2006 $248 $578 1.8% Bernanke chairs Fed
9 y7 d8 r5 S3 O1 n2007 $161 $501 1.1% Bank crisis
$ c* j0 q }1 Z, }: n- a% |2008 $459 $1,017 3.1% Bank bailout, QE2 M, d* y/ z3 Q5 H a4 ^
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B, P. j+ k4 h/ {, \
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
+ l& o6 ]4 Y/ t: r! E% V& z2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue: f8 J2 M! t8 W; T# `* i1 Q' ^
2012 $1,087 $1,276 6.7% Fiscal cliff9 @, ^# @+ Z! v- z2 Z4 M
2013 $679 $672 4.0% Sequester, government shutdown
6 [+ C- J' X% {8 F& M+ C! D) A2014 $485 $1,086 2.7% Debt ceiling, t, e9 [( L+ n
2015 $438 $327 2.4% Defense = $736.4B
/ R7 z' D7 }2 y" Y5 H. C. b2016 $585 $1,423 3.1% Defense = $767.6B- X- @ [5 F, ^3 q# Y* v
2017 $665 $672 3.4% Defense = $817.9B
1 {0 Y `, |( U* [2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
7 i6 U! u& V" B0 Y* g0 ^( }2019 $1,091 $1,314 NA Defense = $956.5B( z* m7 A% H% f9 w0 t- E% p$ D
2020 $1,101 $1,281 NA Defense = $989B! t: p+ F6 w* g V
2021 $1,068 $1,276 NA NA4 Q2 @8 s! ^/ M" N
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