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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion. - Q9 D8 @" ?: R! B1 Z
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2020财年美国预算赤字预计为1.1万亿美元
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The first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.
1 k" J' B' d. q, r 第一列表示会计年度,其次是该年度的赤字(十亿)。其次是财政年度的债务增加,其次是赤字/ GDP。最后,列举了影响赤字的事件7 E7 B$ p' d* g$ j
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Fiscal Year Deficit (in billions) Debt Deficit/GDP Events: F& Y9 d: }, `1 \! ^+ P
1929 ($1) ($1) (0.7%) Market crash5 v* Y- T8 N/ j( `1 M
1930 ($1) ($1) (0.8%) Smoot-Hawley
: ~+ j: U$ W) w1931 $0 $1 0.6% Dust Bowl8 Q& F' L3 L# I8 i# Z) `
1932 $3 $3 4.5% Hoover tax hike2 c$ G: l8 T6 p6 @. W
1933 $3 $3 4.5% FDR New Deal L$ D* B$ L4 W/ r0 ~ N* O) ~
1934 $4 $5 5.4% GDP up 10.8%, debt also rose
7 ^ f/ h3 o* D* ]' {6 O$ M; i1935 $3 $2 3.8% Social Security1 U* V7 ~: _ B# u5 _
1936 $4 $5 5.1% Tax hikes! k" R* ?9 Q' E1 i* Y
1937 $2 $3 2.4% Depression returned, third New Deal
& P: X) z4 [; }) c' N E8 @( X' w1938 $0 $1 0.1% Dust Bowl ended$ i. Z* y; c2 L1 G+ \3 {( w8 ]# i
1939 $3 $3 3.0% Depression ended; o \; j9 G" y2 ~5 |
1940 $3 $3 2.8% Defense increased
3 a: E; L2 V: K1941 $5 $6 3.8% Pearl Harbor
" r5 q$ A! G9 Z( {' B1942 $21 $23 12.3% Battle of Midway
4 Y5 s: b1 E a1943 $55 $64 26.9% Defense tripled/ @0 j* P- \2 {, ?
1944 $48 $64 21.2% Bretton Woods1 d0 D) V% \- e
1945 $48 $58 20.0% WWII ended
3 S. ]( Q: H0 h1946 $16 $11 7.0% Recession* q+ Z# @+ ~( }
1947 ($4) ($11) (1.6%) Cold War5 z7 I' e8 h! W
1948 ($12) ($6) (4.2%) Recession$ w9 N9 t; n- V$ G( W5 s! Z( L1 s0 [; ~
1949 ($1) $0 (0.2%) Recession
7 l: l# z7 d9 u1950 $3 $5 1.0% Korean War
) I8 J: Z5 C- w! s( r1951 ($6) ($2) (1.7%) Expansion
$ {, [* r3 [0 ^( W8 N2 q1952 $2 $4 0.4% Expansion3 G2 W( p8 l3 U: ~3 Z) u. ]
1953 $6 $7 1.7% Korean War ended, recession
2 Z7 `# T' w* V) v1954 $1 $5 0.3% Recession, Eisenhower budgets
4 ~7 a1 P3 j; o3 u, g1955 $3 $3 0.7% Expansion
0 E3 {1 i. b1 ^% L' L, m1956 ($4) ($2) (0.9%) Expansion6 k7 F3 z, x# G
1957 ($3) ($2) (0.7%) Recession7 _; D$ S# b6 K- m+ [
1958 $3 $6 0.6% Recession ended
' x/ D9 v o( M; X1959 $13 $8 2.4% Fed raised rates' p* |0 U T9 j7 S0 ^: W- q& ~
1960 $0 $2 (0.1%) Recession
y J+ `( G' j) R* m7 t2 d1961 $3 $3 0.6% JFK & Bay of Pigs6 k+ n4 { [" R! z5 U8 Q4 y
1962 $7 $10 1.2% Cuban Missile Crisis2 l9 q1 f' u. ^+ M5 n
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed' T0 @! A& Y9 g4 l* T3 \% f0 M
1964 $6 $6 0.9% LBJ War on Poverty
4 s- B' k9 |: V+ t1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War% t; X, \6 S& @/ y3 j% }
1966 $4 $3 0.5% , ^; C4 S7 ^4 `. V$ s; J
1967 $9 $6 1.0% Expansion+ [; \' Q6 A# N' v+ x7 ?
1968 $25 $21 2.6% Moon landing
2 R4 }; W# P2 f7 @8 D1969 ($3) $6 (0.3%) Nixon took office
- ~8 O+ V |. c. y. D( S1970 $3 $17 0.3% Recession9 Y) n$ G, p$ c) L8 B
1971 $23 $27 2.0% Wage-price controls
% L/ [9 j) t2 \! {% M! o* X9 ~1972 $23 $29 1.8% Stagflation
5 f7 [5 l" N3 v2 X d1973 $15 $31 1.0% End of gold standard
( H9 M: Q) u" u1974 $6 $17 0.4% Budget process created, Watergate( t3 }3 b! T, Q2 G& \
1975 $53 $58 3.1% Ford budget, Vietnam War ended
; Z( h1 y% M8 D0 W. N1976 $74 $87 3.9% Stagflation Z. V: B& U6 _5 f* r
1977 $54 $78 2.5% Stagflation
m% h3 z3 j+ O1 \3 O3 g5 l1978 $59 $73 2.5% Carter budget, Recession2 [) }0 a% Q* r3 j. |
1979 $41 $55 1.5% Recession7 `7 g4 y- a/ c) D: w/ v$ s7 @
1980 $74 $81 2.6% Volcker raised rates to 20%% R1 b( O+ E, ~/ i0 [( d
1981 $79 $90 2.4% Reagan tax cut, K4 N; q: g t5 v3 R
1982 $128 $144 3.8% Reagan increased spending
2 L- x# g' ~9 ?2 \. S( @( l1983 $208 $235 5.6% Jobless rate was 10.8%- o1 l+ V5 X9 C" s
1984 $185 $195 4.5% Increased defense spending
# s0 Y# |0 h+ O: b0 ^1985 $212 $256 4.8% Increased defense spending( ]9 X0 L3 k; h6 r1 F) o
1986 $221 $297 4.8% Tax cut x" c! w6 c! @- }* f$ ]
1987 $150 $225 3.1% Market crash8 J) m7 I* V& q0 f
1988 $155 $252 2.9% Fed raised rates) P- H0 _3 U) I. E" X9 d$ B
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
& a+ g& R7 V1 X( L: S1 Y* H" u) k1990 $221 $376 3.7% Desert Storm$ G6 N+ k7 z. C
1991 $269 $432 4.3% Recession( ~* n: S( a. D' t) ~
1992 $290 $399 4.4% Expansion t9 T. M% }7 l1 W: D! Q
1993 $255 $347 3.7% Clinton signed Budget Act5 `) v6 a7 a1 c( t$ r" D5 K7 ^
1994 $203 $281 2.8% Clinton budget c4 W- {5 K, V5 t- _
1995 $164 $281 2.1% Expansion3 H' ?$ Z B6 u- \& H- K- z
1996 $107 $251 1.3% Welfare reform
/ z* w% T" H6 S& o$ C8 ?6 x1997 $22 $188 0.3% Expansion
3 Q" K1 e4 z% p0 ~ X) I- i1998 ($69) $113 (0.8%) LTCM crisis, recession
/ j) z+ ^+ n: p+ K c+ x1999 ($126) $130 (1.3%) Glass-Steagall repealed2 b5 ?/ [3 m" T# K$ Z i# J5 u/ ~, m
2000 ($236) $18 (2.3%) Surplus+ b5 c- l% i, z$ |7 s
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA h' S- h$ h( h4 ?. B
2002 $158 $421 1.4% War on Terror& o( y" w. q7 Y1 T5 A$ ~6 D* v
2003 $378 $555 3.3% JGTRRA. S; y, [+ X8 E& c$ D7 @$ w/ h
2004 $413 $596 3.4% Iraq War1 @, E1 t4 Q* M- |& J$ q
2005 $318 $554 2.4% Katrina, Bankruptcy Act
7 \5 @/ e& W: C2006 $248 $578 1.8% Bernanke chairs Fed
! R0 q( g" Y, r- O2007 $161 $501 1.1% Bank crisis$ w, ~+ w G8 V% }2 c/ L7 d
2008 $459 $1,017 3.1% Bank bailout, QE, x% n* q3 ]* u. ]# |$ ^6 Z9 {
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
% I, b/ _. U) v v0 |2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles! y: Z& p H4 C4 S! [
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue' s& v$ E0 x) |# j0 {/ H
2012 $1,087 $1,276 6.7% Fiscal cliff
3 X* R, p& y. [. _. m- G' Q6 m2013 $679 $672 4.0% Sequester, government shutdown
) V! d3 j0 R& q2014 $485 $1,086 2.7% Debt ceiling- S' A5 m, A8 o" H1 D# ]
2015 $438 $327 2.4% Defense = $736.4B
; k! \$ {& E2 ?7 j2016 $585 $1,423 3.1% Defense = $767.6B1 T- Z3 s; @1 @
2017 $665 $672 3.4% Defense = $817.9B
2 q7 z- W% q- |# Q1 H: E2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts; n8 n& o3 @# `$ ]
2019 $1,091 $1,314 NA Defense = $956.5B
- D0 ?* J( q) D0 \2020 $1,101 $1,281 NA Defense = $989B
5 w7 B: z" y* O6 h+ G! [3 Z- A6 j3 V2021 $1,068 $1,276 NA NA' F7 t$ n0 d! X: k' S' _* o
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