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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion. % }6 ]1 d9 B! L1 v
* M0 m/ q4 X1 i+ g2020财年美国预算赤字预计为1.1万亿美元
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/ [ `+ c7 {. O- W) iThe 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. b& h: V' q' s% ]1 i9 k! K
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, Z/ s( U0 o* c2 e: v( m
1929 ($1) ($1) (0.7%) Market crash: g; F# h. T# Q N- q
1930 ($1) ($1) (0.8%) Smoot-Hawley
- @% W" o* I: R; M+ C5 P: d1931 $0 $1 0.6% Dust Bowl6 c0 @+ j, X- @. w
1932 $3 $3 4.5% Hoover tax hike
4 F# Y3 i5 c8 u' {1933 $3 $3 4.5% FDR New Deal
. R6 @* z: k4 o% ^" L4 g, S1934 $4 $5 5.4% GDP up 10.8%, debt also rose
8 B; s9 d' I- K! \! r, D/ S1935 $3 $2 3.8% Social Security: W, d. R& [/ T3 F) e0 _
1936 $4 $5 5.1% Tax hikes
& k3 w- z6 b$ f* s$ h1937 $2 $3 2.4% Depression returned, third New Deal+ y: O, x$ @9 M N
1938 $0 $1 0.1% Dust Bowl ended' \: L6 L/ x( i& `
1939 $3 $3 3.0% Depression ended+ C' U7 X. ~& y# s4 \. |) c3 p
1940 $3 $3 2.8% Defense increased
' f0 u$ g2 I) d/ Y: R- l2 `) {1941 $5 $6 3.8% Pearl Harbor
0 W6 g1 f3 O8 I$ M1942 $21 $23 12.3% Battle of Midway
( B3 A0 D4 q# K, W7 a$ Q e1943 $55 $64 26.9% Defense tripled
( j# A0 o8 [+ t9 M- d1944 $48 $64 21.2% Bretton Woods" o+ g. g+ ~+ h; v: q
1945 $48 $58 20.0% WWII ended
1 n2 b# |' I2 P1946 $16 $11 7.0% Recession% v" f. ?2 w R% A- o
1947 ($4) ($11) (1.6%) Cold War, F/ y+ Q" R& l2 F
1948 ($12) ($6) (4.2%) Recession
7 l4 j+ A$ g7 s; |, F3 e1949 ($1) $0 (0.2%) Recession3 L$ P* A: K3 |9 o! j' w5 n
1950 $3 $5 1.0% Korean War
. S1 a* v0 p; T" _% W' P1951 ($6) ($2) (1.7%) Expansion
/ P! F/ ^. s! W) M- x4 t1952 $2 $4 0.4% Expansion" g \; |6 {! C
1953 $6 $7 1.7% Korean War ended, recession, T- m* X" R0 l1 n0 q
1954 $1 $5 0.3% Recession, Eisenhower budgets$ q, x; C0 a- _) w' v$ R1 x
1955 $3 $3 0.7% Expansion7 s! F6 y G9 N3 m/ A
1956 ($4) ($2) (0.9%) Expansion
4 U* s/ w) j" B3 m) H1 }" N1957 ($3) ($2) (0.7%) Recession R4 g3 r$ R( o4 b
1958 $3 $6 0.6% Recession ended+ z' h3 w5 b8 ~2 K) q% [
1959 $13 $8 2.4% Fed raised rates8 T2 z) a4 ?: S
1960 $0 $2 (0.1%) Recession% P6 q; M! \7 o0 ~
1961 $3 $3 0.6% JFK & Bay of Pigs
/ h4 }: a( x: ]* F& m( b1962 $7 $10 1.2% Cuban Missile Crisis
5 @, C% C& T* ^3 |* m1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
0 N5 M" R4 u k; i! l" E' \7 |- E1964 $6 $6 0.9% LBJ War on Poverty
! U# T. b* T) ]! q1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
# p8 l+ y6 \3 [4 \' V1966 $4 $3 0.5%
/ G3 S% q+ y+ q/ x% r1967 $9 $6 1.0% Expansion
9 J( x8 V2 @) [ f1 X1968 $25 $21 2.6% Moon landing; M8 H J i1 q7 k+ v5 u
1969 ($3) $6 (0.3%) Nixon took office, m7 [ ^# K+ _; h7 [) s
1970 $3 $17 0.3% Recession- f* A$ ]1 p! j# y* X8 z3 ^; T
1971 $23 $27 2.0% Wage-price controls+ `. ?) R. x/ G- I( Q: O
1972 $23 $29 1.8% Stagflation4 g. q T4 G1 v% `6 G! ?
1973 $15 $31 1.0% End of gold standard) o1 H4 D& b& |+ Q9 ~
1974 $6 $17 0.4% Budget process created, Watergate/ @$ Q! G- a' \9 h# M5 ~; Z
1975 $53 $58 3.1% Ford budget, Vietnam War ended3 K& f: B& E) J) ?
1976 $74 $87 3.9% Stagflation
) d) ]. Z9 H+ H4 ~4 e, z( Z' ^1977 $54 $78 2.5% Stagflation$ N0 c8 m! l: s1 M! c% L
1978 $59 $73 2.5% Carter budget, Recession
: \8 z8 {* y- r1979 $41 $55 1.5% Recession1 d: x4 F3 T- g7 M7 f- [7 C
1980 $74 $81 2.6% Volcker raised rates to 20%
: ]2 y# Y" D6 E: S1981 $79 $90 2.4% Reagan tax cut
3 [. \. F( a+ H3 B1982 $128 $144 3.8% Reagan increased spending1 X) G+ M, |7 {$ V4 \( m5 x* c
1983 $208 $235 5.6% Jobless rate was 10.8%( x9 }8 W5 Y, o
1984 $185 $195 4.5% Increased defense spending7 }% ~+ H! y b# {5 S9 u
1985 $212 $256 4.8% Increased defense spending1 D, ]* o7 `- y2 ~% f( l) b
1986 $221 $297 4.8% Tax cut5 z% B( g9 G1 \( [3 ~2 g, W& p/ X$ T: _
1987 $150 $225 3.1% Market crash
- v# R, j( I9 r1988 $155 $252 2.9% Fed raised rates
1 F6 d& }" O2 A/ a: i1989 $153 $255 2.7% S&L Crisis, Bush 41 budget# w: T* U/ T. d! C# i" o* _( C% V
1990 $221 $376 3.7% Desert Storm0 {, A7 L; I) ^% l
1991 $269 $432 4.3% Recession
- p1 r; b6 o6 J" x7 r3 a5 `* m4 Y1992 $290 $399 4.4% Expansion
W$ E5 `0 [4 D- ]1993 $255 $347 3.7% Clinton signed Budget Act; |( R* Z- q1 O6 z. |& a
1994 $203 $281 2.8% Clinton budget8 K9 Y+ i G1 w$ E' h& K6 i
1995 $164 $281 2.1% Expansion
2 f s- i7 d3 A! U( O e' f' J7 i1996 $107 $251 1.3% Welfare reform
, e2 r, }0 M: Z1997 $22 $188 0.3% Expansion
0 I0 B/ E/ e0 {* i' }" t1998 ($69) $113 (0.8%) LTCM crisis, recession3 p7 _) Q5 o" n6 ^
1999 ($126) $130 (1.3%) Glass-Steagall repealed$ \; p& d' [& }
2000 ($236) $18 (2.3%) Surplus3 A, w$ \- |3 m0 z, A# L! ]
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA3 g1 J* O% D4 F2 A
2002 $158 $421 1.4% War on Terror
' \2 X5 `# ]; O5 J% p9 G4 i2003 $378 $555 3.3% JGTRRA% Y6 c$ _ [4 J; E! e3 @! C
2004 $413 $596 3.4% Iraq War
/ Q( ^! y4 Z0 `, L ^& N2005 $318 $554 2.4% Katrina, Bankruptcy Act$ D+ k; Z! o1 e) ?) E& }1 I& O
2006 $248 $578 1.8% Bernanke chairs Fed
2 f% s0 p" S8 o7 d. X8 \# R2007 $161 $501 1.1% Bank crisis6 h2 Z2 T# i# I: k
2008 $459 $1,017 3.1% Bank bailout, QE5 e$ E% {9 }3 E' y. S9 V$ h
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
) K% N3 P' M! d5 d2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
( l' c6 f6 i+ U0 ~4 I# Q2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
% d. t+ ]1 ?& ^4 u: _2012 $1,087 $1,276 6.7% Fiscal cliff
5 g. D' W& H/ I1 h7 h. Z2 l2013 $679 $672 4.0% Sequester, government shutdown1 C F% }% L" v& X0 g$ e# c, T
2014 $485 $1,086 2.7% Debt ceiling
1 Z1 L- \0 o0 O3 |2015 $438 $327 2.4% Defense = $736.4B
7 C. B5 a7 F* f$ o2016 $585 $1,423 3.1% Defense = $767.6B
$ [. o b. F! n f/ k2017 $665 $672 3.4% Defense = $817.9B2 L/ C7 O9 i8 `) k
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
% y0 ^; N2 [& z5 |+ y2019 $1,091 $1,314 NA Defense = $956.5B
3 T; S* h, V+ E7 Z( V4 J) H, |8 n2020 $1,101 $1,281 NA Defense = $989B
2 r7 e( S/ }+ D$ K2 l2021 $1,068 $1,276 NA NA
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