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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
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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* v9 m0 J, P- X2 j- J 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# L2 c2 T' q; `, O
1 Y" M, P- n# m+ s' e3 \+ x. [Fiscal Year Deficit (in billions) Debt Deficit/GDP Events
% ~1 F2 j( Y. i" T1929 ($1) ($1) (0.7%) Market crash
9 F* A2 O: m# L! f" P6 c1930 ($1) ($1) (0.8%) Smoot-Hawley
8 w/ H }( k0 N, Q, `0 e) r e1931 $0 $1 0.6% Dust Bowl9 d5 g) y6 h1 g& M% j4 p3 P3 q
1932 $3 $3 4.5% Hoover tax hike) G* v2 v( | | n5 w7 f0 \9 _
1933 $3 $3 4.5% FDR New Deal, O6 t9 Q( S( k4 ?3 S
1934 $4 $5 5.4% GDP up 10.8%, debt also rose& f+ R K- h* c$ p( I+ d) I* u) @/ j0 K
1935 $3 $2 3.8% Social Security
6 N' ]+ U! o" w& y. K) w/ ]1936 $4 $5 5.1% Tax hikes9 s/ M& z/ I0 F
1937 $2 $3 2.4% Depression returned, third New Deal* g& r: V$ Q% ^$ C k% A
1938 $0 $1 0.1% Dust Bowl ended) Q1 D) S% ~# `: @: q3 Z
1939 $3 $3 3.0% Depression ended; Q+ _2 a+ l0 s8 O! V
1940 $3 $3 2.8% Defense increased6 Q$ T' n; H ]+ b5 a2 W B6 E
1941 $5 $6 3.8% Pearl Harbor+ \* D! g0 N- R4 F" X
1942 $21 $23 12.3% Battle of Midway( m7 c+ h2 \3 \
1943 $55 $64 26.9% Defense tripled* A: f5 @/ s: s( W
1944 $48 $64 21.2% Bretton Woods7 {* X. |, l5 P4 M' @
1945 $48 $58 20.0% WWII ended& |$ `- D2 A% f, M! v3 s) \
1946 $16 $11 7.0% Recession
( f* N& }4 M; B5 G1947 ($4) ($11) (1.6%) Cold War' A4 P7 q( |1 U% \: L
1948 ($12) ($6) (4.2%) Recession
# @9 a! B& }* _% e1949 ($1) $0 (0.2%) Recession9 ^, i( i; Y3 s8 r5 Y& g
1950 $3 $5 1.0% Korean War( L6 Q+ n0 r5 W) j3 G5 }3 {* B
1951 ($6) ($2) (1.7%) Expansion$ {) B1 [% N& O+ J, o4 G: e
1952 $2 $4 0.4% Expansion
! F; Q" P0 V3 H# Z. q; O1953 $6 $7 1.7% Korean War ended, recession- T! L0 P6 I, C2 W/ e' f" [
1954 $1 $5 0.3% Recession, Eisenhower budgets7 L! _" h" p! d4 v
1955 $3 $3 0.7% Expansion
4 |6 H: @: f! X7 L- g1956 ($4) ($2) (0.9%) Expansion
5 d# V8 W( q+ q, E" U& d5 u+ @! n& ^1957 ($3) ($2) (0.7%) Recession
1 L4 |6 y& B: m5 N- X% m1958 $3 $6 0.6% Recession ended
. l5 U( ]; D, D1 c }! l1959 $13 $8 2.4% Fed raised rates
. x/ e$ Y/ A+ f4 I1 Q1960 $0 $2 (0.1%) Recession
9 b9 r+ d4 W* t! f1961 $3 $3 0.6% JFK & Bay of Pigs, F$ \1 z- d& k% `2 |, k! s
1962 $7 $10 1.2% Cuban Missile Crisis9 |8 B; l3 Y' O
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed0 o9 {! u* X* y% P9 i) r. X
1964 $6 $6 0.9% LBJ War on Poverty& I5 Q3 C J' N: c
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War7 k- j( x E3 H: A" T6 J
1966 $4 $3 0.5% . a/ \" ~0 s p3 `2 W
1967 $9 $6 1.0% Expansion
% @7 a! A5 Q/ A% G+ g: K! ]1968 $25 $21 2.6% Moon landing
7 e" f, n" q' l* H! Y. ~; O8 w1969 ($3) $6 (0.3%) Nixon took office0 B$ z2 u" h# S' t- W
1970 $3 $17 0.3% Recession
% {2 X$ r! u, W& l" U: B1971 $23 $27 2.0% Wage-price controls
! q6 u9 \4 z& J! P$ p& U, Q, X- V1972 $23 $29 1.8% Stagflation
L* @: w$ P/ ?1973 $15 $31 1.0% End of gold standard
5 d& g6 h* p- M. Y1974 $6 $17 0.4% Budget process created, Watergate! b' u7 `: ~% X' h" D
1975 $53 $58 3.1% Ford budget, Vietnam War ended
" O3 \& K" |9 b" E, U* ^1976 $74 $87 3.9% Stagflation9 e) T, D- i$ O* A$ m/ {0 U
1977 $54 $78 2.5% Stagflation
+ |1 D" M. t3 |! E1978 $59 $73 2.5% Carter budget, Recession0 j" u; j) f8 E2 w" N ^& Q7 |4 z! {" h
1979 $41 $55 1.5% Recession1 k, [) N; M8 h* e* O& ]! c
1980 $74 $81 2.6% Volcker raised rates to 20%
) P/ s& N v4 B7 w$ b1 {1981 $79 $90 2.4% Reagan tax cut
9 x! e5 {/ ^3 M, M1982 $128 $144 3.8% Reagan increased spending9 v, a/ O' w( H
1983 $208 $235 5.6% Jobless rate was 10.8% x2 }5 ~1 O/ ~* Y" X7 l
1984 $185 $195 4.5% Increased defense spending
- q. }5 S9 E- F6 m6 H1985 $212 $256 4.8% Increased defense spending( v- l7 E8 h7 F9 I) N' F
1986 $221 $297 4.8% Tax cut8 `# F" G$ T4 k5 B) ?
1987 $150 $225 3.1% Market crash' z" B! z2 `0 }9 k0 f: d7 }4 P5 O9 Z
1988 $155 $252 2.9% Fed raised rates1 m8 U7 N m' G4 K, u
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
( t- q5 L0 W. x# D) i1990 $221 $376 3.7% Desert Storm
, [: A! C. J# e+ A7 b1991 $269 $432 4.3% Recession! _7 l- W% H ` k
1992 $290 $399 4.4% Expansion9 I4 l4 w" D* l- ]; K N
1993 $255 $347 3.7% Clinton signed Budget Act
7 k) o0 o/ u8 W- r5 H6 K1994 $203 $281 2.8% Clinton budget# j5 t A1 V+ Y, U! {* ~
1995 $164 $281 2.1% Expansion
4 ^, R( C, j M- I; Q( a1 _) L1996 $107 $251 1.3% Welfare reform* S7 d9 P( N" E" u
1997 $22 $188 0.3% Expansion/ V1 o( r" x9 r4 d, x
1998 ($69) $113 (0.8%) LTCM crisis, recession9 n, S) K s! S' F
1999 ($126) $130 (1.3%) Glass-Steagall repealed
3 w, y v, H. m/ M2000 ($236) $18 (2.3%) Surplus
0 y \( A) e4 g1 Q# f2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
" K3 ` t/ O8 r* X0 u2002 $158 $421 1.4% War on Terror1 f! `' C0 T" a
2003 $378 $555 3.3% JGTRRA' a5 D0 }. \- F! o' M
2004 $413 $596 3.4% Iraq War
5 n( S4 H' W; O" |+ s4 r# V- o2005 $318 $554 2.4% Katrina, Bankruptcy Act1 T7 S4 L' o0 m, S0 [: W" A
2006 $248 $578 1.8% Bernanke chairs Fed- d/ A7 v R+ {9 X9 Q/ T, v3 I" |
2007 $161 $501 1.1% Bank crisis k5 y# ]) g1 d) e
2008 $459 $1,017 3.1% Bank bailout, QE/ c q6 k; N6 R# W
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
( {4 N6 j; ^4 L5 f( W2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles3 |3 s# k$ x, V* @
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue( @, D0 r' H9 ~5 f& B8 t- \
2012 $1,087 $1,276 6.7% Fiscal cliff
4 O6 E7 u4 _3 A; M+ N4 W0 N2013 $679 $672 4.0% Sequester, government shutdown0 i0 a! U$ r/ N# W' O: \$ ` b0 C
2014 $485 $1,086 2.7% Debt ceiling( q8 R) o5 ?) e, m8 \& h
2015 $438 $327 2.4% Defense = $736.4B+ N4 f m6 K1 e/ G$ u/ s" ~/ `8 B. U
2016 $585 $1,423 3.1% Defense = $767.6B9 k5 F7 G& X; t% ~* ^
2017 $665 $672 3.4% Defense = $817.9B
( t) @ q/ m5 T% I1 h3 e2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts& O, C. K; N$ x8 V$ ~
2019 $1,091 $1,314 NA Defense = $956.5B0 X0 x1 b, v0 k) N) T$ u
2020 $1,101 $1,281 NA Defense = $989B; g8 P. m% s( r" G: N% D0 s# _$ c
2021 $1,068 $1,276 NA NA
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