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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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2020财年美国预算赤字预计为1.1万亿美元( W0 T$ g! |: _. w" L4 w
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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.
% K% }7 n$ V. x* h5 T |' o 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- t5 f& k% u$ x2 \. @4 A- c
3 q0 P# M* e) q/ o EFiscal Year Deficit (in billions) Debt Deficit/GDP Events
3 s+ c7 Y0 F7 y+ W. D, L1929 ($1) ($1) (0.7%) Market crash
/ E0 _8 A* V4 Y" W/ G7 F! I1930 ($1) ($1) (0.8%) Smoot-Hawley* t: E5 M( |1 Y/ c
1931 $0 $1 0.6% Dust Bowl: ]' m- z c1 q) o. }
1932 $3 $3 4.5% Hoover tax hike1 r( T6 J: F9 i! j& Z
1933 $3 $3 4.5% FDR New Deal0 \' D+ w; x3 Q8 L' ]6 @
1934 $4 $5 5.4% GDP up 10.8%, debt also rose
5 [: c8 J4 i7 a* _9 ?+ ~7 x+ J" A1935 $3 $2 3.8% Social Security B- l2 B; w0 x6 X/ D, U
1936 $4 $5 5.1% Tax hikes
k( s4 [5 e/ @. J7 M1937 $2 $3 2.4% Depression returned, third New Deal/ @( o, I |9 v# }7 [: }
1938 $0 $1 0.1% Dust Bowl ended
# L W/ O: P9 h7 m" ]+ x0 x& C% P1939 $3 $3 3.0% Depression ended, _. @ ^5 ]: b4 ?- k. o3 Q M
1940 $3 $3 2.8% Defense increased
x' ], T& ]" J1941 $5 $6 3.8% Pearl Harbor
: P( [1 _+ p8 W; H. _( s; n& z/ R1942 $21 $23 12.3% Battle of Midway
' s4 K- \/ q+ \1943 $55 $64 26.9% Defense tripled
' g, T6 y* N- g! a- `$ n1944 $48 $64 21.2% Bretton Woods" _9 e2 l* y8 ?( s8 {* j
1945 $48 $58 20.0% WWII ended9 G: Q, Z4 X) m& N7 m
1946 $16 $11 7.0% Recession/ Z0 \' o9 L* i% N, B0 z
1947 ($4) ($11) (1.6%) Cold War( o! s6 T1 x* r e
1948 ($12) ($6) (4.2%) Recession
5 C3 w9 `1 ? q! |& ^0 E1 U* M) U1949 ($1) $0 (0.2%) Recession# H& J, v- t: n
1950 $3 $5 1.0% Korean War
' ^+ G: ~& d* O7 y$ o9 P1951 ($6) ($2) (1.7%) Expansion
: d' O8 A$ K3 k( o$ p4 A# z1952 $2 $4 0.4% Expansion- [- B& V% u8 D, P8 j! g
1953 $6 $7 1.7% Korean War ended, recession- l2 e/ p' _! L8 s/ Y
1954 $1 $5 0.3% Recession, Eisenhower budgets
) O5 I! V. e6 H1955 $3 $3 0.7% Expansion
$ I2 C2 A* ~* N6 x; |# b K1956 ($4) ($2) (0.9%) Expansion) l5 ~+ F3 u) K0 D: P
1957 ($3) ($2) (0.7%) Recession& B5 y, Q) O, J* C' t+ M, e5 f
1958 $3 $6 0.6% Recession ended, r& l8 D: X) c
1959 $13 $8 2.4% Fed raised rates
8 b7 @* n' r7 V; z1960 $0 $2 (0.1%) Recession" r x0 ]4 E, v6 B% D# d
1961 $3 $3 0.6% JFK & Bay of Pigs) F/ D2 ~; B" G* D
1962 $7 $10 1.2% Cuban Missile Crisis
4 o4 e0 B& G2 p- Y' {+ |- Z1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
2 c$ y9 v/ j& s9 ^4 t1964 $6 $6 0.9% LBJ War on Poverty8 u% ^" {& p4 c u" ]% }& |& s. p3 S ]! ^
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War+ x" I' O- N: ?0 n. z
1966 $4 $3 0.5%
; y) r9 T$ o. V; F6 ?1967 $9 $6 1.0% Expansion
! |) L& K- ]% W% {& w1968 $25 $21 2.6% Moon landing/ \8 t3 `& U, V
1969 ($3) $6 (0.3%) Nixon took office
% ^2 k2 h8 q( z0 ~2 l/ [* I1970 $3 $17 0.3% Recession. K# z6 ?: K) \# S5 b# e' G$ l: @
1971 $23 $27 2.0% Wage-price controls
, t/ V" t( Z7 N0 V( [+ l7 r1972 $23 $29 1.8% Stagflation# {3 c. k$ G6 _3 X, a5 d, f! F
1973 $15 $31 1.0% End of gold standard: I0 L1 q+ t3 f
1974 $6 $17 0.4% Budget process created, Watergate
! X# d" m' d4 g) m+ l0 p# V1975 $53 $58 3.1% Ford budget, Vietnam War ended
* l. K/ d8 f6 v C' P, ^1976 $74 $87 3.9% Stagflation
, `% h$ {: ^$ y# S6 B1 ~1977 $54 $78 2.5% Stagflation4 N4 D9 X' b% h9 u2 q6 W
1978 $59 $73 2.5% Carter budget, Recession# J+ \* g( f( t; K0 R) J2 q B; p/ y
1979 $41 $55 1.5% Recession
x/ w$ m! ? w. h6 }. J, a1980 $74 $81 2.6% Volcker raised rates to 20%8 m5 d# i$ g X. p; \
1981 $79 $90 2.4% Reagan tax cut
& A. U9 s! m' \/ u+ Y4 y1 S( w, o1982 $128 $144 3.8% Reagan increased spending4 V/ O V: [" B( K, W0 v% f* y
1983 $208 $235 5.6% Jobless rate was 10.8%
7 z5 p; K. j- ]. F# \, } Z1984 $185 $195 4.5% Increased defense spending
8 i- L$ E* I9 f9 z4 W) \3 @1985 $212 $256 4.8% Increased defense spending, r1 v/ Y, b( K6 M. Y6 g8 p- `3 | e
1986 $221 $297 4.8% Tax cut
' F" L( c% f+ p* k1987 $150 $225 3.1% Market crash7 U) h7 x) ]8 i+ k
1988 $155 $252 2.9% Fed raised rates
2 u+ \- ^* u7 H& v' a1989 $153 $255 2.7% S&L Crisis, Bush 41 budget1 [* n1 H: o6 ]- C( { `7 y3 I. @
1990 $221 $376 3.7% Desert Storm
|5 g _+ ]) y O4 |8 H K% P, K1991 $269 $432 4.3% Recession
1 F/ D9 m' C- f; D3 K Y" j, O1992 $290 $399 4.4% Expansion# g, b% e8 s/ o3 }9 d1 A/ p! t/ Q* O
1993 $255 $347 3.7% Clinton signed Budget Act/ N3 S( G* o& ?: |1 i9 Y
1994 $203 $281 2.8% Clinton budget
; ^2 v+ O# J# F; S1995 $164 $281 2.1% Expansion5 F& r8 ]! d6 D6 A- \! B( ~
1996 $107 $251 1.3% Welfare reform3 Q! V. v0 S* k) x6 D, e A. J: S
1997 $22 $188 0.3% Expansion1 g4 N; f5 }0 a! a" d6 v. k
1998 ($69) $113 (0.8%) LTCM crisis, recession- W9 P- t5 x5 ?: _' O! r! r4 z
1999 ($126) $130 (1.3%) Glass-Steagall repealed
: g% M: ?1 g- a2 v8 @) D0 j" @2000 ($236) $18 (2.3%) Surplus
v. K- g/ t6 h2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
. Y6 A3 X2 h: Z+ K0 B6 z2002 $158 $421 1.4% War on Terror
, p* t. @& B& }2003 $378 $555 3.3% JGTRRA C2 E: U3 o1 o4 v2 M q# u
2004 $413 $596 3.4% Iraq War
$ W& I1 w8 ~( o; o6 M2005 $318 $554 2.4% Katrina, Bankruptcy Act: W+ t& s- \: E
2006 $248 $578 1.8% Bernanke chairs Fed
$ D: G, y, E/ J- n% L" U7 y G. h2007 $161 $501 1.1% Bank crisis
: h3 Q+ [ r7 M2 G2008 $459 $1,017 3.1% Bank bailout, QE
, u" _" Z$ V6 Z6 ~: B* e+ q" K2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B6 \- x9 A- t4 ]- b
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
$ c! k3 r9 A j9 O$ }- ]4 t5 p2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue& {0 m; ?1 K% H. a* Q2 }
2012 $1,087 $1,276 6.7% Fiscal cliff) j, m+ [( @/ w: m
2013 $679 $672 4.0% Sequester, government shutdown
8 P7 S! u7 w p h- [$ x# O: J- J2014 $485 $1,086 2.7% Debt ceiling, v8 v) R6 e/ b# A
2015 $438 $327 2.4% Defense = $736.4B
/ o4 l# N# n# g2016 $585 $1,423 3.1% Defense = $767.6B2 D6 q+ g6 U. Z0 J
2017 $665 $672 3.4% Defense = $817.9B* J, [% N1 {: L G3 b3 N
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts" M+ W6 ^4 W( E T3 h
2019 $1,091 $1,314 NA Defense = $956.5B
# N4 ~9 b* s( I2020 $1,101 $1,281 NA Defense = $989B6 }' s8 J; `% j5 A
2021 $1,068 $1,276 NA NA
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