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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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2020财年美国预算赤字预计为1.1万亿美元6 h; `+ D" h2 {7 }( |; e( Y- j0 x
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The first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.0 m" J5 v& A* K
第一列表示会计年度,其次是该年度的赤字(十亿)。其次是财政年度的债务增加,其次是赤字/ GDP。最后,列举了影响赤字的事件% }. N$ j" W$ s; ]
7 `0 X+ L- K6 X% O9 e- KFiscal Year Deficit (in billions) Debt Deficit/GDP Events5 a* i5 _% W( F' j/ o
1929 ($1) ($1) (0.7%) Market crash
6 w% t7 {) O* t* z2 w' B5 ?1 l! i$ x2 ^1930 ($1) ($1) (0.8%) Smoot-Hawley% x |% q/ O" Y2 N# g% w
1931 $0 $1 0.6% Dust Bowl( ? L& F! E1 a( g: i
1932 $3 $3 4.5% Hoover tax hike0 @7 @' u, |1 p% [
1933 $3 $3 4.5% FDR New Deal
k/ H( G4 i6 s& a1934 $4 $5 5.4% GDP up 10.8%, debt also rose
. J+ k8 {( v4 A$ E k' n1935 $3 $2 3.8% Social Security+ |0 n6 u, K3 Y6 ^
1936 $4 $5 5.1% Tax hikes
- |; Z M9 M3 b% @9 ?; \( a; O& x, n1937 $2 $3 2.4% Depression returned, third New Deal" [- z& Q+ o, ?: c1 u* ~0 q
1938 $0 $1 0.1% Dust Bowl ended
9 j( q, o* r( v1 R1939 $3 $3 3.0% Depression ended
6 ~7 r' x' I" {: m9 u& R( Q8 H8 g1940 $3 $3 2.8% Defense increased( Z! U- q3 X) ~- F) E M0 f
1941 $5 $6 3.8% Pearl Harbor
* o9 n6 A0 R5 e1 T' T, t1942 $21 $23 12.3% Battle of Midway1 ]2 K' Y3 J! U# \8 f& M6 w
1943 $55 $64 26.9% Defense tripled& P( e c0 i L# L. h5 Q
1944 $48 $64 21.2% Bretton Woods0 h! T, D$ }% l, P# {4 t
1945 $48 $58 20.0% WWII ended* Q9 B- D$ W+ I! @6 Z) z" C1 c
1946 $16 $11 7.0% Recession
! L7 x8 X) _2 ^* I$ d. P+ Z1947 ($4) ($11) (1.6%) Cold War
! x9 K% t. L& h0 R, C8 Z+ c1948 ($12) ($6) (4.2%) Recession
B1 q5 n/ I3 g1949 ($1) $0 (0.2%) Recession
5 m* K; X! g8 ?( J% u1950 $3 $5 1.0% Korean War
% q8 Z* `* [# n+ V" [1951 ($6) ($2) (1.7%) Expansion: p4 Q! \' v9 s6 O
1952 $2 $4 0.4% Expansion2 d \' P6 p: {- v/ `9 } f, Y
1953 $6 $7 1.7% Korean War ended, recession* e4 ~3 g, Y. R- H/ r; T
1954 $1 $5 0.3% Recession, Eisenhower budgets
]* ?: o2 H% I1955 $3 $3 0.7% Expansion2 }( ~, B5 I( J& Q2 v
1956 ($4) ($2) (0.9%) Expansion
* p! n: y; L- ?- f' h/ i1957 ($3) ($2) (0.7%) Recession
- y) X8 I0 X. T" a& P7 t, E# k1958 $3 $6 0.6% Recession ended
& Y# y' E! t* o! d& h6 v4 |& K1959 $13 $8 2.4% Fed raised rates. W) i0 G. @9 v7 M
1960 $0 $2 (0.1%) Recession
, M" ]: @. \4 ?9 J! b1961 $3 $3 0.6% JFK & Bay of Pigs
7 c9 g: L* Y+ d; o& o( B; R1962 $7 $10 1.2% Cuban Missile Crisis
4 D& }* Q+ V7 F, Q! W1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed u3 l- H2 o7 R/ q) |$ K4 i
1964 $6 $6 0.9% LBJ War on Poverty& j7 g& U) Y" y. H+ \3 s5 h; O
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War+ y. i$ B1 G0 ?
1966 $4 $3 0.5%
5 P4 e1 w' B2 S: m& c: k$ _1967 $9 $6 1.0% Expansion
1 L+ r5 j% S: }: [) F* J1968 $25 $21 2.6% Moon landing/ e* C9 c5 J& q1 O% p0 G
1969 ($3) $6 (0.3%) Nixon took office. H6 A8 \& n% H3 a
1970 $3 $17 0.3% Recession) ?" d0 h! P* j
1971 $23 $27 2.0% Wage-price controls
- d" N0 l9 [/ i. W, w& a1972 $23 $29 1.8% Stagflation
]% I; ~% O2 F6 U8 _1 m+ b1973 $15 $31 1.0% End of gold standard# n6 u/ D* }% j9 s
1974 $6 $17 0.4% Budget process created, Watergate+ o: m- s n# }2 H# j
1975 $53 $58 3.1% Ford budget, Vietnam War ended
7 R) e3 b+ ^7 V; V' I1 N; v1976 $74 $87 3.9% Stagflation; j1 M" J4 C' H
1977 $54 $78 2.5% Stagflation; a# |0 [& T, C; H9 O/ |1 C" Y
1978 $59 $73 2.5% Carter budget, Recession P" b C0 H5 c# ~( I. c5 J* p9 n
1979 $41 $55 1.5% Recession* n0 T6 R! ]0 a* Y6 R% ]
1980 $74 $81 2.6% Volcker raised rates to 20%
" A0 L# P( o% E) ^1981 $79 $90 2.4% Reagan tax cut
1 z" E7 y4 u4 O. |* O: G# C1982 $128 $144 3.8% Reagan increased spending. E: X9 \# m% Q
1983 $208 $235 5.6% Jobless rate was 10.8%
/ ?- t1 ^2 B6 W9 m1984 $185 $195 4.5% Increased defense spending
/ V8 X7 o; }- D& w6 b: V( ?1985 $212 $256 4.8% Increased defense spending
1 y3 H5 g" O9 r0 }1986 $221 $297 4.8% Tax cut
7 O$ h6 n9 B9 f, G( @( s( x% B" U1987 $150 $225 3.1% Market crash
+ N' R9 h! I' @- j0 {2 B5 W/ X X1988 $155 $252 2.9% Fed raised rates+ c7 w F3 }$ [" S- u) {
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
/ j. B& p- ~$ W. d( _6 i1990 $221 $376 3.7% Desert Storm
' M( H! C8 }" l( o& ?& ?9 c9 q1991 $269 $432 4.3% Recession5 l% _7 R7 J. m8 X' W/ g
1992 $290 $399 4.4% Expansion4 v0 _; |' ?, A4 G( \- `5 i$ K0 v
1993 $255 $347 3.7% Clinton signed Budget Act5 `) _7 z0 x( l
1994 $203 $281 2.8% Clinton budget
7 V( m8 o2 w# t- ~# [ o1995 $164 $281 2.1% Expansion8 s9 o0 e- n+ c0 }
1996 $107 $251 1.3% Welfare reform! A! R" U* G! j2 \0 K( L: H
1997 $22 $188 0.3% Expansion/ \- s* |6 g* i2 A) H6 o8 @: p
1998 ($69) $113 (0.8%) LTCM crisis, recession
( k3 D6 l- l* z/ ?7 v; K/ a; B5 z2 p8 m1999 ($126) $130 (1.3%) Glass-Steagall repealed* M! \# j2 h( Q, l% m
2000 ($236) $18 (2.3%) Surplus
4 C* }! D* E5 q2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA Z p/ C. R/ K) U/ {0 W
2002 $158 $421 1.4% War on Terror
% O! @2 z8 C1 a$ x2003 $378 $555 3.3% JGTRRA3 W" b0 U- T, p
2004 $413 $596 3.4% Iraq War
) A A/ ^4 T' W9 C2005 $318 $554 2.4% Katrina, Bankruptcy Act1 F$ x6 j4 _) ~8 \; V/ P w) j
2006 $248 $578 1.8% Bernanke chairs Fed) ]' g# W, [' ?7 [& _0 E( R/ ^
2007 $161 $501 1.1% Bank crisis. W/ C" \/ F3 Q6 A6 {, `
2008 $459 $1,017 3.1% Bank bailout, QE7 t1 `9 {, U5 l, I" \
2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
4 v6 `' H9 D+ c" U2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles8 i/ `$ r; m2 s. R! w, h' f+ T
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue. m( O% p4 u9 W8 V, d
2012 $1,087 $1,276 6.7% Fiscal cliff
" m s6 ^& I4 v a) }2 S2013 $679 $672 4.0% Sequester, government shutdown
' e0 f3 w& A! Z3 W& h" v: v3 u% F2014 $485 $1,086 2.7% Debt ceiling
* x% R# M5 _) c2015 $438 $327 2.4% Defense = $736.4B* |6 s2 }6 o: r9 B9 x% c' _: M3 o9 n
2016 $585 $1,423 3.1% Defense = $767.6B1 c2 V, X' M: g! d2 n/ x
2017 $665 $672 3.4% Defense = $817.9B
5 b( }/ a1 Q* L5 z+ q2 `- g2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts% T2 d' Q% U9 t; F
2019 $1,091 $1,314 NA Defense = $956.5B5 F; }& m: t- g3 L8 j0 k* ]+ _
2020 $1,101 $1,281 NA Defense = $989B, j: m8 _: f8 M, a9 { K; D
2021 $1,068 $1,276 NA NA
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