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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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2020财年美国预算赤字预计为1.1万亿美元% _1 f, ]5 [2 x& g. r
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The first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.
# o, u5 u1 \$ _* D3 A& m& l6 W$ M- c, 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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Fiscal Year Deficit (in billions) Debt Deficit/GDP Events
) e$ W6 H @* Z3 N5 y* z" e1929 ($1) ($1) (0.7%) Market crash
& Y+ i) V! f( M9 k1930 ($1) ($1) (0.8%) Smoot-Hawley
3 \0 f" E9 Z' K1 v" _1 c1931 $0 $1 0.6% Dust Bowl
: A1 P8 M e$ W/ O0 D3 E1932 $3 $3 4.5% Hoover tax hike2 u9 l) e( s5 j' f+ c5 \
1933 $3 $3 4.5% FDR New Deal% |1 U/ C( B1 f7 L# g
1934 $4 $5 5.4% GDP up 10.8%, debt also rose
; a6 n; Z; ?" b4 {0 N7 m1935 $3 $2 3.8% Social Security
$ R# r/ }8 w! |" `3 i# ]8 [1936 $4 $5 5.1% Tax hikes
, v, T3 T. V, O, y' P$ f1937 $2 $3 2.4% Depression returned, third New Deal! q3 l6 F' @6 S3 x2 \: F
1938 $0 $1 0.1% Dust Bowl ended
. y) y, z3 [1 i( [1939 $3 $3 3.0% Depression ended7 W7 b' S1 i; }+ [0 P
1940 $3 $3 2.8% Defense increased$ \; N3 e, ^, }+ x( m# P
1941 $5 $6 3.8% Pearl Harbor" k; j! N8 X" f
1942 $21 $23 12.3% Battle of Midway+ w- Q% J* a4 ^
1943 $55 $64 26.9% Defense tripled
& U5 ]3 j: `0 j- @, ^1944 $48 $64 21.2% Bretton Woods: r: _5 Z5 }3 S5 ]9 i$ B( l
1945 $48 $58 20.0% WWII ended
2 L7 z2 B. ?9 M1946 $16 $11 7.0% Recession" M0 y6 h+ g# f2 o0 f' ^
1947 ($4) ($11) (1.6%) Cold War
& d3 O1 J/ C ?& ]1 p5 H1948 ($12) ($6) (4.2%) Recession6 p, V) X, k$ _5 |
1949 ($1) $0 (0.2%) Recession: C4 U$ {. h+ }4 k0 q# ]/ ?- {
1950 $3 $5 1.0% Korean War
5 C4 g5 @9 Y2 q8 B1951 ($6) ($2) (1.7%) Expansion
$ D7 W' {9 h. ~* I N; _1952 $2 $4 0.4% Expansion
1 g- X+ a4 s1 J; k6 Q& G, Z+ u, E" I1953 $6 $7 1.7% Korean War ended, recession
. F, \( m- i4 [1954 $1 $5 0.3% Recession, Eisenhower budgets
1 ^4 O) Y( L" b, X$ d1955 $3 $3 0.7% Expansion
' Q' G% S9 O; j8 o# ^4 E& R1956 ($4) ($2) (0.9%) Expansion
# p8 n# l6 b2 Z. L) x& F2 Q1957 ($3) ($2) (0.7%) Recession
# t9 _' X( M* D( i" c( j1958 $3 $6 0.6% Recession ended
. {& o5 m0 ~! L, m. O5 Z" [% G1959 $13 $8 2.4% Fed raised rates6 Q" M* q5 |$ {& g0 q
1960 $0 $2 (0.1%) Recession
9 n" k8 n9 K+ i X+ _+ Y, v1961 $3 $3 0.6% JFK & Bay of Pigs
! @& p1 L; p+ V) m9 _7 k) C! ?& K1962 $7 $10 1.2% Cuban Missile Crisis
+ A2 F- S* l: i8 F1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed M4 m% n* |' s3 N
1964 $6 $6 0.9% LBJ War on Poverty' a# z5 o+ U+ |3 q
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War* l+ d5 m$ H [1 j$ a
1966 $4 $3 0.5% 3 G8 W1 o& R% D/ Q3 f/ G7 {- X
1967 $9 $6 1.0% Expansion
: G, @7 v/ s3 E0 m( D% j, i' C1968 $25 $21 2.6% Moon landing
0 n! H2 }. @4 `& K1969 ($3) $6 (0.3%) Nixon took office
& t: m5 u4 l4 k1970 $3 $17 0.3% Recession \9 z* F6 Q! c' C N8 J2 W
1971 $23 $27 2.0% Wage-price controls
8 H2 }/ z b& ^8 c% Z1972 $23 $29 1.8% Stagflation
3 t% _7 ^! t6 G/ W* g" n: b" ^1973 $15 $31 1.0% End of gold standard
- \& e# m; B) C1974 $6 $17 0.4% Budget process created, Watergate
0 y# @9 v( Z- {4 I/ k7 o1975 $53 $58 3.1% Ford budget, Vietnam War ended: z3 N9 V. {& p0 @ f
1976 $74 $87 3.9% Stagflation
. w# G- d9 @. O% M% Y4 p) n1977 $54 $78 2.5% Stagflation
5 O' S6 C3 B9 i) J/ H* e9 \1978 $59 $73 2.5% Carter budget, Recession: ?( O, z7 g( x g, G6 N& i
1979 $41 $55 1.5% Recession% N' R# W3 P- J1 i6 R* D1 o- {" d
1980 $74 $81 2.6% Volcker raised rates to 20%
, e8 p3 L0 l* ~# U4 |1 r3 G1981 $79 $90 2.4% Reagan tax cut5 o; [ w! \ e# H7 T2 D/ v2 W" G
1982 $128 $144 3.8% Reagan increased spending5 \% Z% T) }$ D# f6 |
1983 $208 $235 5.6% Jobless rate was 10.8%
- k2 y! S: }& h' n1984 $185 $195 4.5% Increased defense spending2 e9 H; X4 |' M
1985 $212 $256 4.8% Increased defense spending3 c7 U3 a; x2 x( J
1986 $221 $297 4.8% Tax cut
8 W: Q: m$ z, |5 T( w* A1987 $150 $225 3.1% Market crash
7 Q3 A2 e6 L0 M/ E' B6 l+ o' }# W1988 $155 $252 2.9% Fed raised rates
. q& _8 \+ X9 _5 V/ @# ?3 W7 N1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
. M# [; L5 `7 g! e1990 $221 $376 3.7% Desert Storm
! J# W: @ h k4 _4 D1991 $269 $432 4.3% Recession" Y1 G% m( I: U( ?% @
1992 $290 $399 4.4% Expansion
' u/ H1 |3 ^) W6 \2 z4 x1993 $255 $347 3.7% Clinton signed Budget Act
1 V/ r$ `+ u& M; q; x7 |1994 $203 $281 2.8% Clinton budget) C/ h. e" F2 A
1995 $164 $281 2.1% Expansion
2 P' e& h/ j N/ h2 d+ S1996 $107 $251 1.3% Welfare reform, |3 t) C% i! q% r+ X, F( \+ K8 x( Y- ?
1997 $22 $188 0.3% Expansion
8 O: Q' R* T% ?* U) G$ l1998 ($69) $113 (0.8%) LTCM crisis, recession
! X% p6 O5 i9 n1999 ($126) $130 (1.3%) Glass-Steagall repealed3 d" {: L: ]0 b* S, A
2000 ($236) $18 (2.3%) Surplus
8 \5 i+ ^. {8 `, i2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA: P9 ^/ R3 [' \+ J! K
2002 $158 $421 1.4% War on Terror- v6 A9 f$ F8 s4 U% K% r( m
2003 $378 $555 3.3% JGTRRA
; b8 l& t3 w4 g8 t% M0 k2004 $413 $596 3.4% Iraq War
2 q8 t5 v& |- y1 l( j4 X; f- h2005 $318 $554 2.4% Katrina, Bankruptcy Act
3 R0 W2 n# u8 m& Z) B2006 $248 $578 1.8% Bernanke chairs Fed2 }) d' U: a8 x- L; u0 j
2007 $161 $501 1.1% Bank crisis+ ~0 p) m$ C+ z2 L
2008 $459 $1,017 3.1% Bank bailout, QE0 b N% Y5 @# F# D; q3 ?7 C5 |, b
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
8 b+ U% K$ o# C* m' S2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
# x& q8 q) V8 q" c2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue" a9 ]6 O) J' Q) S8 L
2012 $1,087 $1,276 6.7% Fiscal cliff
4 y4 b" {* k# R; v2013 $679 $672 4.0% Sequester, government shutdown J2 w) ~5 e2 ]
2014 $485 $1,086 2.7% Debt ceiling
. D* @& i* n3 `6 X2015 $438 $327 2.4% Defense = $736.4B
& h4 B# n; k6 ?2 e6 n' d2016 $585 $1,423 3.1% Defense = $767.6B
( O4 o. y' r7 @% p9 U' L2017 $665 $672 3.4% Defense = $817.9B
/ |# e* K& H# ^6 W: \2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts& N/ |1 @7 L, ?; s2 b& q
2019 $1,091 $1,314 NA Defense = $956.5B! J$ e5 y4 H4 i- Y* z
2020 $1,101 $1,281 NA Defense = $989B0 J' N. F4 z. Q# i
2021 $1,068 $1,276 NA NA' J. w' u6 B3 ?" }6 E6 S
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