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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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% i% E t- U( C0 a" c; y6 r2020财年美国预算赤字预计为1.1万亿美元
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$ L$ p$ |6 b0 j# o' H3 [5 b! |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.
! ?% q6 i4 P# e/ t6 E8 { 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& V. U. N6 R, I* d
) X! X* m* ^5 ^Fiscal Year Deficit (in billions) Debt Deficit/GDP Events
! o6 X/ e+ C) [1 Q8 i3 A7 D h1929 ($1) ($1) (0.7%) Market crash4 @% E" G) |4 R" E& |3 \7 p
1930 ($1) ($1) (0.8%) Smoot-Hawley
/ ^, r6 F; }/ k, E. U' x1931 $0 $1 0.6% Dust Bowl& \" H! H7 L0 D; f, o
1932 $3 $3 4.5% Hoover tax hike' _$ Z5 G6 E4 K8 m6 _+ @
1933 $3 $3 4.5% FDR New Deal
5 J' d: V0 i( D& D7 R1934 $4 $5 5.4% GDP up 10.8%, debt also rose
( F i, q; K) U0 M3 n' F7 E$ O1935 $3 $2 3.8% Social Security
2 P& q o1 V9 U; B! H, y- b; G1936 $4 $5 5.1% Tax hikes
- s: a4 e/ {; Z$ b W1937 $2 $3 2.4% Depression returned, third New Deal
. a5 J8 f+ ?! ]7 t: ?% W2 B1938 $0 $1 0.1% Dust Bowl ended
; Y8 T4 Y5 p& x2 R, {1939 $3 $3 3.0% Depression ended
2 a& H: b3 d: E7 L/ S q1 A7 J) f; \1940 $3 $3 2.8% Defense increased
2 n( W, F! `3 g/ @& s" h1941 $5 $6 3.8% Pearl Harbor( r( Y( k1 C2 c3 A
1942 $21 $23 12.3% Battle of Midway: X2 l' ^) b6 E+ n5 ?; ^
1943 $55 $64 26.9% Defense tripled3 w2 u: n, K7 ^& S
1944 $48 $64 21.2% Bretton Woods
% _9 C( R9 n( N' D" i1945 $48 $58 20.0% WWII ended8 v) w% v n, F" T0 d, h- O2 s
1946 $16 $11 7.0% Recession
3 p5 C( \, I+ f9 x6 ~6 ^8 o5 m1947 ($4) ($11) (1.6%) Cold War
- g5 e0 ~: |' l8 ^1948 ($12) ($6) (4.2%) Recession; s# I3 M5 L0 [' w9 H1 p
1949 ($1) $0 (0.2%) Recession
- w- w( R; ^+ `1950 $3 $5 1.0% Korean War
i& Y) R4 Y; ~8 u1951 ($6) ($2) (1.7%) Expansion
7 @% z& j/ S+ C( Y! x0 s1952 $2 $4 0.4% Expansion
. \7 b- B; N2 B) k7 D1953 $6 $7 1.7% Korean War ended, recession
9 g0 A5 J$ R# v. a) X1954 $1 $5 0.3% Recession, Eisenhower budgets
( O! z) }8 ?, u3 Y. U P+ W1955 $3 $3 0.7% Expansion
/ Q$ {. d" x3 w1956 ($4) ($2) (0.9%) Expansion
. }7 B* M& t `3 k1957 ($3) ($2) (0.7%) Recession6 P4 d" [: `0 [ a+ Z! k/ v
1958 $3 $6 0.6% Recession ended7 g, y4 ?: \2 J3 P+ \. v- L }
1959 $13 $8 2.4% Fed raised rates7 k$ ]" V4 I6 R& l+ Y* m
1960 $0 $2 (0.1%) Recession
: T- O6 f7 V# Y* d1961 $3 $3 0.6% JFK & Bay of Pigs
0 ?& L% f( @3 y/ g2 e: c4 A1962 $7 $10 1.2% Cuban Missile Crisis
1 Q* R" x p$ n- n1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed$ O! X/ S: k- @0 a1 _
1964 $6 $6 0.9% LBJ War on Poverty
7 P# ]& i7 `7 @! E3 G1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War3 T- W4 Z' q% j0 ~9 n: q
1966 $4 $3 0.5% 9 g3 v; v2 R+ `& U# @8 l! ]% e
1967 $9 $6 1.0% Expansion
' w. D7 c1 e& l' l- ?1968 $25 $21 2.6% Moon landing7 V: c! {! H) P% Y4 z# e! g- ~
1969 ($3) $6 (0.3%) Nixon took office
) g" C+ T, G; |8 X1970 $3 $17 0.3% Recession% I5 I; W8 W0 n9 ~
1971 $23 $27 2.0% Wage-price controls
" j+ n5 t; z, Y" h# @/ n; Z1972 $23 $29 1.8% Stagflation
" [5 @7 n1 h& f* r- l3 I# n1973 $15 $31 1.0% End of gold standard# W- b. v* b8 B
1974 $6 $17 0.4% Budget process created, Watergate4 o) V! p J! i( v
1975 $53 $58 3.1% Ford budget, Vietnam War ended
, y, F5 B1 s1 d& V1976 $74 $87 3.9% Stagflation
+ p8 B3 v' b& t/ Q. ~* e1977 $54 $78 2.5% Stagflation( C$ q$ c0 T! j. o6 q% A9 ^
1978 $59 $73 2.5% Carter budget, Recession4 G/ H/ {, U6 Q# ]5 x
1979 $41 $55 1.5% Recession
; O4 b3 u1 R3 W, _1980 $74 $81 2.6% Volcker raised rates to 20%
9 ^, D' n$ |* x0 Z. ^* Z1981 $79 $90 2.4% Reagan tax cut
+ h T$ D; s- U' W$ u1982 $128 $144 3.8% Reagan increased spending
* w1 \3 L- a5 P6 x4 q' @& N1983 $208 $235 5.6% Jobless rate was 10.8%- o$ G S7 f/ j7 Q
1984 $185 $195 4.5% Increased defense spending+ B7 z" s* N6 I, o6 Y
1985 $212 $256 4.8% Increased defense spending2 G" W0 r% @- s/ J, y* ^
1986 $221 $297 4.8% Tax cut
0 n& {& z5 [" f1987 $150 $225 3.1% Market crash
* s, I' ?: f7 E) G: }$ f1988 $155 $252 2.9% Fed raised rates, z* v0 r6 O' \! K& ?- j
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget, x& y. `$ V' b D6 s7 z
1990 $221 $376 3.7% Desert Storm
6 c) x( W* L! x: ]: k1991 $269 $432 4.3% Recession
7 n/ d1 X0 g9 G2 h0 x; n1992 $290 $399 4.4% Expansion
7 u9 X8 }2 d; V8 l D1 B1993 $255 $347 3.7% Clinton signed Budget Act
( O3 ?3 R( { i) \6 R: \9 H; E& [1994 $203 $281 2.8% Clinton budget8 f4 ]! T4 B$ J4 l7 q: X
1995 $164 $281 2.1% Expansion$ s& o" u! B1 X0 D3 r; P1 N7 a
1996 $107 $251 1.3% Welfare reform0 V9 x, N8 K" m) q& l8 p4 b
1997 $22 $188 0.3% Expansion
, M2 ]; w' c5 }, J$ F0 n7 e1998 ($69) $113 (0.8%) LTCM crisis, recession
6 f, y3 b3 R' ^. v1999 ($126) $130 (1.3%) Glass-Steagall repealed
1 e/ L$ L7 A. _: I# }8 P- E4 i" a. k2000 ($236) $18 (2.3%) Surplus* e+ z5 Q* X, v7 H' z5 J
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
, t6 F, k1 j9 x% N2002 $158 $421 1.4% War on Terror
+ Y, [) B/ w) l& w2003 $378 $555 3.3% JGTRRA
# Y5 r4 Q: o) o' v" w8 u* G2004 $413 $596 3.4% Iraq War I! W7 |1 h1 r5 s
2005 $318 $554 2.4% Katrina, Bankruptcy Act
. E; |4 Z0 J0 B" K# O2006 $248 $578 1.8% Bernanke chairs Fed+ v c+ m$ e5 N) {2 u: d
2007 $161 $501 1.1% Bank crisis
6 j9 n: y& {) Y: W' k% N2008 $459 $1,017 3.1% Bank bailout, QE
/ _1 s7 Z' F0 J) D$ G: B6 m2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
1 S$ P$ o8 R+ ?. F2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles O/ O2 C0 H7 n+ c* ]
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue4 A0 o) |* h' [" q. a+ i, y
2012 $1,087 $1,276 6.7% Fiscal cliff) K& r+ y- x: v5 A2 K
2013 $679 $672 4.0% Sequester, government shutdown
" a& m1 h! M* h$ [- }; N4 w2014 $485 $1,086 2.7% Debt ceiling8 A: ^$ N5 ?* C2 u; m, v
2015 $438 $327 2.4% Defense = $736.4B7 @" H9 `; @# R! ]4 q
2016 $585 $1,423 3.1% Defense = $767.6B- a+ c/ z" \! s W- N/ n% ~
2017 $665 $672 3.4% Defense = $817.9B: x0 x" h% d4 v
2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts0 K$ A* V9 V8 a) E6 {/ W* v
2019 $1,091 $1,314 NA Defense = $956.5B' O8 e& p5 b: D( i) t. d5 h; U% |) v
2020 $1,101 $1,281 NA Defense = $989B+ f4 p1 Q' \+ ~/ F: ~
2021 $1,068 $1,276 NA NA
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