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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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+ X( s# |# V- J5 Y3 s6 N& G2020财年美国预算赤字预计为1.1万亿美元; @" u: v# W/ I; o/ U: u
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The first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.
" @7 b* v) p# m$ r 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
6 R$ Z) G) H$ w4 @# G) x$ y1929 ($1) ($1) (0.7%) Market crash3 P+ F6 W h0 l; }1 N$ ]9 |8 f
1930 ($1) ($1) (0.8%) Smoot-Hawley
2 T9 W# J F0 ?) r4 Z* O1931 $0 $1 0.6% Dust Bowl
$ S4 y: o% s! L1932 $3 $3 4.5% Hoover tax hike
6 n. P& N' J, r1933 $3 $3 4.5% FDR New Deal
1 Z5 Q4 C$ g( ]1934 $4 $5 5.4% GDP up 10.8%, debt also rose, B" \5 C! ?7 j6 {" _
1935 $3 $2 3.8% Social Security
1 S% L& e2 Y. ]1936 $4 $5 5.1% Tax hikes
2 e- B- \) H Y/ a3 U0 P1937 $2 $3 2.4% Depression returned, third New Deal9 } z& i7 @9 c
1938 $0 $1 0.1% Dust Bowl ended2 W) v2 p1 G' m7 ?, t8 n
1939 $3 $3 3.0% Depression ended
3 J7 _8 m P* v& t( c$ _& Q1940 $3 $3 2.8% Defense increased7 J9 A# g# j6 n! W- x' ? P
1941 $5 $6 3.8% Pearl Harbor
' M% t6 x' \8 r: a1942 $21 $23 12.3% Battle of Midway
4 U6 Q# h9 I% }+ A( ]/ E; n9 E1943 $55 $64 26.9% Defense tripled4 e1 H+ p& D: ~+ \
1944 $48 $64 21.2% Bretton Woods! R; H+ `5 y" k
1945 $48 $58 20.0% WWII ended5 N& q& k3 d' @6 P
1946 $16 $11 7.0% Recession
5 D7 {3 S7 M/ Q- }9 h1947 ($4) ($11) (1.6%) Cold War
: `; t4 R9 E7 n6 _, o# i9 \1948 ($12) ($6) (4.2%) Recession2 t z! l0 V- ~4 ?! U9 r
1949 ($1) $0 (0.2%) Recession
3 B9 h3 n' |' a! a& e. l* g1950 $3 $5 1.0% Korean War
/ b4 ? K% G0 q1951 ($6) ($2) (1.7%) Expansion# N5 L1 A J: Q N6 L
1952 $2 $4 0.4% Expansion
$ J& V# z/ s& B! v( D H- s6 T1953 $6 $7 1.7% Korean War ended, recession
, o2 r! d* U3 N1 Z, i1954 $1 $5 0.3% Recession, Eisenhower budgets+ C5 |7 ?6 s* j H) v- _
1955 $3 $3 0.7% Expansion
$ \6 o+ ~0 j6 a' R; R1 n1 h+ |; t1956 ($4) ($2) (0.9%) Expansion. \, X1 L. H/ ?% V2 H: b& o
1957 ($3) ($2) (0.7%) Recession' p- C. E# r, E. b5 m* {
1958 $3 $6 0.6% Recession ended/ N# b2 o0 X' T. S( P
1959 $13 $8 2.4% Fed raised rates
$ X, ?$ Y% h1 G" a R6 E& `) m1960 $0 $2 (0.1%) Recession
2 `/ |- w# X/ W7 t+ H( F1961 $3 $3 0.6% JFK & Bay of Pigs
5 X* Z5 j1 S" a& {' f1962 $7 $10 1.2% Cuban Missile Crisis
; D6 g8 |9 e1 W: I" k( m ]9 ?1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed
: |+ `6 P/ T- z. l- C5 H0 E1964 $6 $6 0.9% LBJ War on Poverty; z5 a7 b- ^2 M/ S
1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
3 o6 W& \1 [+ J1966 $4 $3 0.5%
# d& {( Z+ ]8 ?3 k( H; H1967 $9 $6 1.0% Expansion
% L7 e4 R& W& t1968 $25 $21 2.6% Moon landing# Y- Y# L/ C% w. v: A
1969 ($3) $6 (0.3%) Nixon took office [( k; n# I/ `) k) _
1970 $3 $17 0.3% Recession3 j( f2 J0 d8 q$ t! U$ L8 F
1971 $23 $27 2.0% Wage-price controls
/ C h+ u. Y: z3 Y ?1972 $23 $29 1.8% Stagflation
% L6 U2 R M& x4 t. B1 C) w1973 $15 $31 1.0% End of gold standard9 b' ^9 \6 q/ [& i3 O$ B1 u
1974 $6 $17 0.4% Budget process created, Watergate
# f0 z/ l7 i8 P7 t+ p6 r' q& E7 c1975 $53 $58 3.1% Ford budget, Vietnam War ended
# v+ Q% G2 `6 L% A% P( |3 R* a1976 $74 $87 3.9% Stagflation
: R' l+ \& V3 F: k1 M3 W1977 $54 $78 2.5% Stagflation: ]6 W5 y1 t+ s S0 Q
1978 $59 $73 2.5% Carter budget, Recession
+ F. a O H: t: R4 K8 f: L1979 $41 $55 1.5% Recession
7 H$ F' y9 N) j+ a& \( _+ e8 K1980 $74 $81 2.6% Volcker raised rates to 20%. W1 P4 Y1 ]4 G2 V6 H! e: Z8 V
1981 $79 $90 2.4% Reagan tax cut8 |9 q0 @. O; x
1982 $128 $144 3.8% Reagan increased spending, B. m, y+ k" S
1983 $208 $235 5.6% Jobless rate was 10.8%. A' ]! p/ b! O; n
1984 $185 $195 4.5% Increased defense spending
8 P# X+ |3 y0 `# Y1985 $212 $256 4.8% Increased defense spending! f- [3 G T' g8 b: _; [6 L
1986 $221 $297 4.8% Tax cut
$ w% X! o4 r! r0 r1987 $150 $225 3.1% Market crash' d3 U' n. T0 w! W G l! ]
1988 $155 $252 2.9% Fed raised rates
3 }: x: \! u* e+ b5 p5 M1989 $153 $255 2.7% S&L Crisis, Bush 41 budget
; B/ N6 L# z8 E- s' x- ?1990 $221 $376 3.7% Desert Storm3 e7 ?0 E5 e4 x2 m6 f3 Q
1991 $269 $432 4.3% Recession
5 ^! ?+ Z5 W; q1 L/ ?9 ^1992 $290 $399 4.4% Expansion
M3 h( R+ f/ |" A% H* O# j1993 $255 $347 3.7% Clinton signed Budget Act/ L- f) v" ^3 u5 x) T: \
1994 $203 $281 2.8% Clinton budget
7 I# I" p/ H+ ^5 F$ f- i K1995 $164 $281 2.1% Expansion$ l4 Z3 c" L! {) L9 }
1996 $107 $251 1.3% Welfare reform" c9 V$ m5 o3 P9 C
1997 $22 $188 0.3% Expansion
2 N# m4 m7 ]( f5 b1998 ($69) $113 (0.8%) LTCM crisis, recession4 i$ K8 K6 P6 j& `+ u$ \3 Q. P8 q
1999 ($126) $130 (1.3%) Glass-Steagall repealed
2 M; ^, E& Y; ]+ H1 r9 p1 I2000 ($236) $18 (2.3%) Surplus
2 t' d% t+ g. d3 G: O2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA
# _/ C, F, M; z& M% |2002 $158 $421 1.4% War on Terror
( B% M. r& Y/ H9 G- B( ^3 Q! e2003 $378 $555 3.3% JGTRRA; W$ H- I. X5 f, y) R, B
2004 $413 $596 3.4% Iraq War
7 v6 h$ B$ k6 S2005 $318 $554 2.4% Katrina, Bankruptcy Act
+ k r% J/ h! }, I2006 $248 $578 1.8% Bernanke chairs Fed
3 A! V% T" [- H( N4 G, V0 ^! c0 i2007 $161 $501 1.1% Bank crisis5 p. x+ M$ C) I/ K
2008 $459 $1,017 3.1% Bank bailout, QE
3 Y( ^# ?8 F6 y7 m2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B5 b" a, C+ B6 A0 M3 c
2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles
% R- ~# x( A+ w6 C- b D2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
% V8 N+ H# z* z1 G2012 $1,087 $1,276 6.7% Fiscal cliff O. C: E3 l) R8 [
2013 $679 $672 4.0% Sequester, government shutdown
Z/ y3 x" e. L0 z2014 $485 $1,086 2.7% Debt ceiling
1 x7 \6 I$ s" u$ _3 L e2015 $438 $327 2.4% Defense = $736.4B- Z: f9 o1 p, ^% U7 @4 I& ~* ]
2016 $585 $1,423 3.1% Defense = $767.6B+ Q; x! P" ~7 o7 W8 C9 l
2017 $665 $672 3.4% Defense = $817.9B
: }) y1 ?+ E" [6 W& ^( s6 h5 V2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts2 x) G, e! a. k' x
2019 $1,091 $1,314 NA Defense = $956.5B+ F7 \" N* o# k) m! t
2020 $1,101 $1,281 NA Defense = $989B
! k* T# L$ [* N" w& l2021 $1,068 $1,276 NA NA; Q' Z3 p( ]# v* m1 t4 q
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