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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8 j& I& I h2 {
' M C, n4 S0 J" v4 ?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.
' [7 ]9 \% `9 { 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% ]7 y3 S, @4 ~
1929 ($1) ($1) (0.7%) Market crash4 ^& r6 }0 ]! V" [* k
1930 ($1) ($1) (0.8%) Smoot-Hawley
* m. n' \2 G. }/ F: D1931 $0 $1 0.6% Dust Bowl
: m6 t+ e3 f6 O% o) R1932 $3 $3 4.5% Hoover tax hike8 r' C- M6 o f
1933 $3 $3 4.5% FDR New Deal+ b1 s. X) |$ D3 \) I
1934 $4 $5 5.4% GDP up 10.8%, debt also rose5 y8 o5 h3 g7 r6 K2 {# ^' [" l
1935 $3 $2 3.8% Social Security5 ~/ Y f* y# ^
1936 $4 $5 5.1% Tax hikes
n2 c, M! G4 u1937 $2 $3 2.4% Depression returned, third New Deal
0 u2 t W1 k$ a& K* S1938 $0 $1 0.1% Dust Bowl ended
7 s; d7 J- H8 h6 M1939 $3 $3 3.0% Depression ended1 [. m3 E& F6 c( _5 B3 z
1940 $3 $3 2.8% Defense increased
4 {, D4 Y0 \ I; O1941 $5 $6 3.8% Pearl Harbor. i' h" ^5 O; o9 w( K2 {- O
1942 $21 $23 12.3% Battle of Midway
J# v( D9 t2 E+ e1943 $55 $64 26.9% Defense tripled
" t6 W+ c2 |& x1944 $48 $64 21.2% Bretton Woods
3 H" y+ A; ?9 m8 Z% ^% q) R1945 $48 $58 20.0% WWII ended
! D( S' Q7 F/ b% B1946 $16 $11 7.0% Recession& i% H9 Y1 J- ]# t( `
1947 ($4) ($11) (1.6%) Cold War8 r; V* ?" O, T2 h
1948 ($12) ($6) (4.2%) Recession
9 v3 I( O+ `1 X, ^1949 ($1) $0 (0.2%) Recession! s$ `/ O) w/ s z
1950 $3 $5 1.0% Korean War
) I9 [* W( k: Z& W. Q, i; j' z1 w1951 ($6) ($2) (1.7%) Expansion
3 L% r* p6 Q, n8 N. m: e3 Z. C/ n3 x1952 $2 $4 0.4% Expansion, v* v: B: D& A) P! G
1953 $6 $7 1.7% Korean War ended, recession
) d! `- t. z3 R( w1954 $1 $5 0.3% Recession, Eisenhower budgets' ?7 V! g" L. m, v5 h" b: \( _1 B
1955 $3 $3 0.7% Expansion
# W" \% A, t- U5 T) y# S1956 ($4) ($2) (0.9%) Expansion
; [6 s2 S* J, z& L6 w1957 ($3) ($2) (0.7%) Recession
1 W! _6 W0 c& z- H: y! m1958 $3 $6 0.6% Recession ended# o! _* P! n. P0 J" o
1959 $13 $8 2.4% Fed raised rates
7 `# S: N3 P9 B) r1960 $0 $2 (0.1%) Recession! P `; b- C( X
1961 $3 $3 0.6% JFK & Bay of Pigs
' t& A* T0 A: H5 i5 Q. S& D1962 $7 $10 1.2% Cuban Missile Crisis
& F6 ]+ |: s6 K9 P4 ]1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed5 d& w) H+ ~3 }* F+ K# \4 J
1964 $6 $6 0.9% LBJ War on Poverty4 N3 z9 {! q$ D; o! @
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War3 u$ h' r3 Q5 X5 ], J3 p
1966 $4 $3 0.5%
; P5 E; B7 o3 o) {' X1967 $9 $6 1.0% Expansion
# B% p$ T# T7 ]4 T' x* `1 h1968 $25 $21 2.6% Moon landing
# b, b) A' e0 I* W9 P* V1969 ($3) $6 (0.3%) Nixon took office: s1 H1 J/ s+ K: C7 V# Z
1970 $3 $17 0.3% Recession, F7 l4 V$ q1 f4 D0 I b
1971 $23 $27 2.0% Wage-price controls G) C: k4 }8 B+ U
1972 $23 $29 1.8% Stagflation
j8 m. `; j4 ]( v1973 $15 $31 1.0% End of gold standard
' @" C# l& M) H; a7 h1 L& `1974 $6 $17 0.4% Budget process created, Watergate( b- E: Q8 R0 A4 n7 u. G
1975 $53 $58 3.1% Ford budget, Vietnam War ended. ~% l( {' X. Q- L8 X* m
1976 $74 $87 3.9% Stagflation
! A1 c7 B; r5 i6 w" M3 d9 e1977 $54 $78 2.5% Stagflation
0 E0 ^# G1 A+ Y z1 }1978 $59 $73 2.5% Carter budget, Recession
3 {) B5 p) W* \1 A$ e2 o5 B/ |! `2 x1979 $41 $55 1.5% Recession. ?4 e8 a( f$ M: @ ^* n
1980 $74 $81 2.6% Volcker raised rates to 20%
3 W$ b7 n c( }2 H1981 $79 $90 2.4% Reagan tax cut, N( n1 K' P6 ^: p7 i: U$ b
1982 $128 $144 3.8% Reagan increased spending3 k3 C6 K. s' {
1983 $208 $235 5.6% Jobless rate was 10.8%
7 }' d2 k4 \- i9 f1984 $185 $195 4.5% Increased defense spending
5 j" \" B4 F) I; l( x6 ]1985 $212 $256 4.8% Increased defense spending
8 y9 W5 t. |) D4 t. L: {" ^1986 $221 $297 4.8% Tax cut
( Q0 o* z% |- n# J: ]1987 $150 $225 3.1% Market crash9 o) W# \& ]6 A2 j* N' m
1988 $155 $252 2.9% Fed raised rates
' d9 \) t. p O: Y1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
. T9 y% K* t( U# l1990 $221 $376 3.7% Desert Storm/ L* c) m$ f$ o( @. q- \
1991 $269 $432 4.3% Recession" T9 P$ F9 g8 I9 I5 E
1992 $290 $399 4.4% Expansion
l+ v( |! t, l8 p* B8 Y, K1993 $255 $347 3.7% Clinton signed Budget Act
$ m; \6 c) L" e! t8 R6 G1994 $203 $281 2.8% Clinton budget6 l# O/ T- |. Z5 `" | M c2 p
1995 $164 $281 2.1% Expansion
4 @6 x: g" @; y+ s, o1996 $107 $251 1.3% Welfare reform$ x6 p3 Q' z( d6 |+ v8 l, ]$ g
1997 $22 $188 0.3% Expansion
- n, n$ h- n6 E# i- z! ~1998 ($69) $113 (0.8%) LTCM crisis, recession
' L+ M$ O5 a8 i' F1999 ($126) $130 (1.3%) Glass-Steagall repealed; O% v. ?7 ]! q) {7 A% j$ ]+ N+ [$ @
2000 ($236) $18 (2.3%) Surplus
9 X7 ?' ?, o5 [ N. d! w: _2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA' r* y/ @2 L9 h
2002 $158 $421 1.4% War on Terror o& ~# G( i" i: d
2003 $378 $555 3.3% JGTRRA
- t- V: @+ w* T$ [2004 $413 $596 3.4% Iraq War# y% m' u+ Q: n! V8 @
2005 $318 $554 2.4% Katrina, Bankruptcy Act
! Y: U& J- ]3 N3 w5 Q/ g: U2006 $248 $578 1.8% Bernanke chairs Fed: P# I+ Y6 k2 k- I$ H: y
2007 $161 $501 1.1% Bank crisis
: g4 h Y! m' [7 c# a* r2008 $459 $1,017 3.1% Bank bailout, QE6 b, I' I6 H2 A
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B2 r* J+ b- K6 W
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles( G' L- _$ S1 H+ C
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue4 j X0 D8 x3 _ t! z
2012 $1,087 $1,276 6.7% Fiscal cliff3 a" E, R9 I# T) \1 P
2013 $679 $672 4.0% Sequester, government shutdown4 Q, l' G- E* p; H# s" ]
2014 $485 $1,086 2.7% Debt ceiling3 T# F( V B( K/ N! z
2015 $438 $327 2.4% Defense = $736.4B+ \6 E2 F+ _7 s/ R4 w. E
2016 $585 $1,423 3.1% Defense = $767.6B
3 h3 P2 H1 h- p; ~8 R2017 $665 $672 3.4% Defense = $817.9B
% w# W. x( A* }. n" H2 Q& q# M2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts
) |2 g2 j( W3 A2019 $1,091 $1,314 NA Defense = $956.5B
4 o% q; y9 W/ ]5 C: s# F2 F2020 $1,101 $1,281 NA Defense = $989B4 q% T* `! \& |8 k
2021 $1,068 $1,276 NA NA
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