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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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) ]3 u$ F# Z: |# Z2020财年美国预算赤字预计为1.1万亿美元3 f# Y5 K/ b1 ^) u% O p
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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.$ @, z( g* @' R$ t9 z
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$ h8 b- L* | ]$ e7 u- I7 Q
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Fiscal Year Deficit (in billions) Debt Deficit/GDP Events" ^5 E- x" z3 ~/ G2 Y( G$ k
1929 ($1) ($1) (0.7%) Market crash* h* n9 I( D& N/ @8 }' F
1930 ($1) ($1) (0.8%) Smoot-Hawley
$ b9 c2 Q9 Q/ f# g9 o' A1931 $0 $1 0.6% Dust Bowl# E- R+ [# I; w
1932 $3 $3 4.5% Hoover tax hike' W9 J! Z7 ]; R$ D9 }6 k
1933 $3 $3 4.5% FDR New Deal* ]/ s: N5 h! T
1934 $4 $5 5.4% GDP up 10.8%, debt also rose1 V- z5 X l r9 V
1935 $3 $2 3.8% Social Security2 b5 G" ?9 l1 T& }
1936 $4 $5 5.1% Tax hikes! i0 I/ i6 G7 O3 W8 ?
1937 $2 $3 2.4% Depression returned, third New Deal" h% `1 c, f" E0 X( X3 U" m* n) @
1938 $0 $1 0.1% Dust Bowl ended( M( B8 h3 X! }! ]
1939 $3 $3 3.0% Depression ended. J) n) {" E) f1 A( i
1940 $3 $3 2.8% Defense increased
+ F4 _0 F$ ?9 G1941 $5 $6 3.8% Pearl Harbor
& K1 o) u G5 z) S3 B8 l1942 $21 $23 12.3% Battle of Midway; {9 W% U% Z: u i* F5 @
1943 $55 $64 26.9% Defense tripled
) i3 {) M# t) D$ s2 G1 B0 e* D4 H1944 $48 $64 21.2% Bretton Woods9 E6 t k. Q' y* A; r* H
1945 $48 $58 20.0% WWII ended
+ V: n; q: u4 ^; g$ K% x: l& ^1946 $16 $11 7.0% Recession! B5 r7 @- f2 \& {$ `
1947 ($4) ($11) (1.6%) Cold War$ c7 t) S$ ^5 J! b
1948 ($12) ($6) (4.2%) Recession/ T& n* A6 O U* _2 E
1949 ($1) $0 (0.2%) Recession/ }( \3 B' D* Z- b1 w& O
1950 $3 $5 1.0% Korean War
% s% U& N. _- P3 F) P v! X1951 ($6) ($2) (1.7%) Expansion
# K% M- A# s) p v/ P1 S7 I1952 $2 $4 0.4% Expansion6 j2 U( v6 Z( I) q
1953 $6 $7 1.7% Korean War ended, recession
+ ?3 ^9 k) a4 {1954 $1 $5 0.3% Recession, Eisenhower budgets/ i& w! l: H+ M+ r
1955 $3 $3 0.7% Expansion
$ M& ?* o& N0 @ [+ U* x* H1956 ($4) ($2) (0.9%) Expansion1 t7 W- }8 K3 m7 n7 N1 D
1957 ($3) ($2) (0.7%) Recession
) @2 A; d0 ?* ?1 i* b8 ?, u" Y1958 $3 $6 0.6% Recession ended0 o& j7 h! [' l1 u- T
1959 $13 $8 2.4% Fed raised rates
! j: z4 j9 W( \ Q0 }7 W; b) u3 v1960 $0 $2 (0.1%) Recession7 U5 F) T( l. t9 H
1961 $3 $3 0.6% JFK & Bay of Pigs
$ u% Q; |# D1 v/ ]2 j- Y* d2 r1962 $7 $10 1.2% Cuban Missile Crisis
: J8 m( p; `. p$ a4 F B( m6 `& T. P" U! a1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
* r; F5 t! Y0 @" T6 M6 s) Q1964 $6 $6 0.9% LBJ War on Poverty ~4 {; @3 o2 p1 s
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
" C" o/ H* p. L6 L( r1966 $4 $3 0.5%
) G4 _; ?2 c3 s8 N- x; K1967 $9 $6 1.0% Expansion1 @5 J9 G. |% f6 E
1968 $25 $21 2.6% Moon landing
& [) \% l* Q% k" O6 `1969 ($3) $6 (0.3%) Nixon took office
- ^8 I& y5 F; C) x9 ~$ ~1970 $3 $17 0.3% Recession5 J8 R0 r. B8 C* j" V# T
1971 $23 $27 2.0% Wage-price controls
4 J- r7 f5 [; |1 @: s1972 $23 $29 1.8% Stagflation+ p- X: g2 N4 G4 ?
1973 $15 $31 1.0% End of gold standard& @* T5 h2 ]# z* G% a5 R$ T
1974 $6 $17 0.4% Budget process created, Watergate, q7 f2 z0 V2 ]
1975 $53 $58 3.1% Ford budget, Vietnam War ended
: Q# `3 ?& R6 V( P1976 $74 $87 3.9% Stagflation
5 w. a0 ?" i. @' a. n1977 $54 $78 2.5% Stagflation5 w. P% V& Q' t- ?
1978 $59 $73 2.5% Carter budget, Recession* b- i2 q" Z5 [' \& L
1979 $41 $55 1.5% Recession
7 s3 u$ \7 S; d' y" u. Q5 p C# P1980 $74 $81 2.6% Volcker raised rates to 20%
: ~$ l7 h% A6 P+ v2 N1981 $79 $90 2.4% Reagan tax cut9 o8 R$ Z1 e$ L
1982 $128 $144 3.8% Reagan increased spending
( @; F4 \4 D2 Z p" a9 _! x$ @( C1983 $208 $235 5.6% Jobless rate was 10.8%
) _! k% e4 z$ m$ P1984 $185 $195 4.5% Increased defense spending) V0 x% H) e* b
1985 $212 $256 4.8% Increased defense spending
5 `7 y% p" H' z0 e9 p3 r1986 $221 $297 4.8% Tax cut/ e& O5 M. S/ @; I" c
1987 $150 $225 3.1% Market crash, A, Y4 n$ M" R7 V8 B9 s- w$ }
1988 $155 $252 2.9% Fed raised rates$ O0 y0 I2 }! b0 t
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
. R+ @8 }8 v! E9 g' N1990 $221 $376 3.7% Desert Storm8 ^; H i0 R8 l# a8 Z
1991 $269 $432 4.3% Recession
9 F3 ?* ]2 Y3 u7 h1992 $290 $399 4.4% Expansion3 S7 k. W, T/ K% D f0 g
1993 $255 $347 3.7% Clinton signed Budget Act0 o/ r4 N5 H4 I' m% f7 S3 m# r
1994 $203 $281 2.8% Clinton budget
3 U! G6 N0 y" y$ Q1995 $164 $281 2.1% Expansion
6 n- Q k4 R7 D1996 $107 $251 1.3% Welfare reform
m W; E: n4 P7 z. _! w1997 $22 $188 0.3% Expansion6 A* ?7 D5 J+ r/ Q( j+ `2 [0 R
1998 ($69) $113 (0.8%) LTCM crisis, recession
0 T+ l; {1 F0 h# x. t& U1999 ($126) $130 (1.3%) Glass-Steagall repealed
: y$ ^+ y! z, r2000 ($236) $18 (2.3%) Surplus9 L& k' v* e5 U' O
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA$ e7 F) t8 C4 Y3 X5 F V
2002 $158 $421 1.4% War on Terror
6 o4 o$ C1 J& T" w8 n2003 $378 $555 3.3% JGTRRA+ b+ l8 W: s2 M3 o- U/ J5 E
2004 $413 $596 3.4% Iraq War |1 B! |, a3 j( s9 R
2005 $318 $554 2.4% Katrina, Bankruptcy Act* {8 N6 ]9 Z% ^% T, Z6 a
2006 $248 $578 1.8% Bernanke chairs Fed
/ \( f: }' ]; U5 {; _* N$ \2 q2007 $161 $501 1.1% Bank crisis
' i* r4 X* \; t v( z+ ~: B2008 $459 $1,017 3.1% Bank bailout, QE
/ Q% K- j, L4 R% `4 r6 i3 e2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B, v8 `1 z$ _" W
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles- _$ P5 z9 y; I+ y. M6 o3 K/ f
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
" F) ]9 K+ i) [2012 $1,087 $1,276 6.7% Fiscal cliff3 X1 _4 M6 Q( s8 |' j+ E: q9 i
2013 $679 $672 4.0% Sequester, government shutdown& e8 ^- ^& A/ k( k8 Y
2014 $485 $1,086 2.7% Debt ceiling) }7 b: h; `2 U3 r; b
2015 $438 $327 2.4% Defense = $736.4B
+ S: I* H' @& `4 X. i2016 $585 $1,423 3.1% Defense = $767.6B2 m: Z u$ [& B; t8 u: D
2017 $665 $672 3.4% Defense = $817.9B
. ~' G5 h5 ], ?) O- z0 i2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts" a7 m, t! Z' Q5 v8 Y
2019 $1,091 $1,314 NA Defense = $956.5B
" o5 ~' _" }! f5 d# H" |2020 $1,101 $1,281 NA Defense = $989B! i; E/ I/ w( f+ d; H
2021 $1,068 $1,276 NA NA' r8 Y: I3 S; v4 m9 @& ^+ U
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