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The Fiscal Year 2020 U.S. budget deficit is expected to be $1.1 trillion.
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2020财年美国预算赤字预计为1.1万亿美元
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The first column represents the fiscal year, followed by the deficit that year in billions. Next is the debt increase by fiscal year, followed by the deficit/GDP. Finally, the events affecting the deficit are cited.
4 A, k$ C6 a- R" Z2 M) b 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7 W. X U5 X! K9 P& M$ X
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Fiscal Year Deficit (in billions) Debt Deficit/GDP Events& A! x9 u/ }6 {6 c
1929 ($1) ($1) (0.7%) Market crash& F8 O+ ]" h3 f+ f6 V- [
1930 ($1) ($1) (0.8%) Smoot-Hawley3 ]5 i6 o# C# Q/ W! v6 l6 ~
1931 $0 $1 0.6% Dust Bowl
! o0 h2 t0 ]" `6 @2 }: Y1932 $3 $3 4.5% Hoover tax hike
0 i0 ]& J) H7 |$ O) f0 S1933 $3 $3 4.5% FDR New Deal0 b5 |4 V- Z: m2 h$ j; F0 O' Z
1934 $4 $5 5.4% GDP up 10.8%, debt also rose/ D/ [$ i0 A6 w B" j9 }
1935 $3 $2 3.8% Social Security) i& X% g5 \, r
1936 $4 $5 5.1% Tax hikes
/ w( p9 q: a. ]7 o) z4 v7 `* P2 G2 y1937 $2 $3 2.4% Depression returned, third New Deal
0 O% I; B% W" r3 d. F- W6 h( c) g/ v7 ]1938 $0 $1 0.1% Dust Bowl ended
9 ~8 k: c& y+ e5 Q6 }1939 $3 $3 3.0% Depression ended- ^0 D# q9 C7 E
1940 $3 $3 2.8% Defense increased- s' l2 j- C+ G" T" e9 z* `* o
1941 $5 $6 3.8% Pearl Harbor
5 I; r) ]+ h$ h3 b! r& F: G2 }9 V1942 $21 $23 12.3% Battle of Midway4 d: H/ z1 }, N# A
1943 $55 $64 26.9% Defense tripled) k( |4 Z U3 ^3 v& j
1944 $48 $64 21.2% Bretton Woods& m5 W/ Z! O& N) C" R$ X
1945 $48 $58 20.0% WWII ended2 h# ^* B/ W* i+ ^
1946 $16 $11 7.0% Recession
. P" h% D& b0 D9 P, D- @' V. t1947 ($4) ($11) (1.6%) Cold War" \, c7 I$ j; I L
1948 ($12) ($6) (4.2%) Recession" e6 n& e- B! Y6 v
1949 ($1) $0 (0.2%) Recession( }' f6 T7 @- Q; I3 s! U) C
1950 $3 $5 1.0% Korean War u/ \& U% Y% }7 d
1951 ($6) ($2) (1.7%) Expansion; X. S7 ]1 a- K: ~2 V% [7 J0 P1 T0 ^9 a
1952 $2 $4 0.4% Expansion, j; Q( G6 x: |( w* P! L7 Y
1953 $6 $7 1.7% Korean War ended, recession5 e. t- v0 ~4 c8 y1 P: t
1954 $1 $5 0.3% Recession, Eisenhower budgets
* X4 E7 R( E2 q) v9 {1955 $3 $3 0.7% Expansion
4 `( h% U+ w; G( u6 X1956 ($4) ($2) (0.9%) Expansion/ ~ H" I4 l2 N% _8 F
1957 ($3) ($2) (0.7%) Recession* ?0 o. k- M- e3 ^# E/ M
1958 $3 $6 0.6% Recession ended
1 g2 S: O" q) M3 x# r8 L1959 $13 $8 2.4% Fed raised rates: b! |4 T4 c1 J' }
1960 $0 $2 (0.1%) Recession. ?$ [3 `8 p, ?! I% U: P
1961 $3 $3 0.6% JFK & Bay of Pigs
, S- Y/ J/ e3 G8 I7 V' ^+ w1962 $7 $10 1.2% Cuban Missile Crisis9 |; H* u* o6 r o
1963 $5 $7 0.7% U.S. aids Vietnam, JFK killed( e. P) X% \. y5 e5 y j S
1964 $6 $6 0.9% LBJ War on Poverty
9 q% h0 W/ T1 a: Q# C1965 $1 $6 0.2% Medicare, Medicaid, Vietnam War
; h$ _8 Y& L5 k1966 $4 $3 0.5%
7 P5 I* G5 L. X4 D5 ~1967 $9 $6 1.0% Expansion
% n% q/ m; X* ^6 w+ B' V0 N+ {1968 $25 $21 2.6% Moon landing1 L5 p9 D9 S% O; Q8 G" {" @7 d
1969 ($3) $6 (0.3%) Nixon took office! x& K/ @) V- D8 `
1970 $3 $17 0.3% Recession
: { n' z+ ^2 S' {9 ?1971 $23 $27 2.0% Wage-price controls' z5 r, r0 U; H' t
1972 $23 $29 1.8% Stagflation
# M4 L, O6 m% j2 H1973 $15 $31 1.0% End of gold standard
& a* R6 D) i4 H* _+ [1974 $6 $17 0.4% Budget process created, Watergate
X& g' Z. R0 i( }4 f1 L( w1975 $53 $58 3.1% Ford budget, Vietnam War ended
) ?6 f) W) p( s8 n" F- y: [1 ?1976 $74 $87 3.9% Stagflation( s5 E% Y6 }' M5 A1 j
1977 $54 $78 2.5% Stagflation
/ m- m$ b5 O' V5 s" r1978 $59 $73 2.5% Carter budget, Recession8 F& i/ H7 E* C- C7 `9 x3 U
1979 $41 $55 1.5% Recession- R A0 [+ @; f% b# Z! r
1980 $74 $81 2.6% Volcker raised rates to 20%4 p: ~4 @, m) d' ~% r# }3 z
1981 $79 $90 2.4% Reagan tax cut- F( o, y( ]. Z2 t
1982 $128 $144 3.8% Reagan increased spending5 h8 G' ^4 j# C% |' s6 Q: O# i
1983 $208 $235 5.6% Jobless rate was 10.8%
, S* U$ ^$ A# ] v U! T1984 $185 $195 4.5% Increased defense spending
q& R& k1 v* `3 W1985 $212 $256 4.8% Increased defense spending
; @ q7 L) g! O4 i( f8 D* f$ I1986 $221 $297 4.8% Tax cut$ }/ N$ M& `0 ~3 \* z' ~
1987 $150 $225 3.1% Market crash( m2 g" c8 ^7 a
1988 $155 $252 2.9% Fed raised rates: Q. [& E: F' n. h# u$ @. Y* ?
1989 $153 $255 2.7% S&L Crisis, Bush 41 budget! v5 o7 L3 W2 _$ @
1990 $221 $376 3.7% Desert Storm
& ?- N# b- w( v1991 $269 $432 4.3% Recession* X9 g; u4 H+ n% q; q7 i1 V
1992 $290 $399 4.4% Expansion
4 G& @3 z. c. m3 B" Z8 W1993 $255 $347 3.7% Clinton signed Budget Act5 {* e- x3 {$ m
1994 $203 $281 2.8% Clinton budget. f* @* E$ ?3 A2 ]
1995 $164 $281 2.1% Expansion
7 d& M3 l( p0 j0 \' R- W1996 $107 $251 1.3% Welfare reform2 N1 o# m$ _9 T h8 @0 l' T
1997 $22 $188 0.3% Expansion# V1 g8 q" _0 F5 U
1998 ($69) $113 (0.8%) LTCM crisis, recession
0 Q2 |. V( \1 U* H% _4 }1999 ($126) $130 (1.3%) Glass-Steagall repealed$ F( o* Q( `- V, N$ m
2000 ($236) $18 (2.3%) Surplus3 n& b2 c% C2 e$ ~5 I3 b( p4 o
2001 ($128) $133 (1.2%) 9/11 attacks, EGTRRA' C0 \$ h5 [& C0 }* N* y
2002 $158 $421 1.4% War on Terror6 v1 j* `7 c: |
2003 $378 $555 3.3% JGTRRA
. b4 N0 x# t- \- ^" ?8 y( M; c2004 $413 $596 3.4% Iraq War) O, P1 O0 c8 c
2005 $318 $554 2.4% Katrina, Bankruptcy Act
2 t0 T' }! G+ `# V4 [/ O2006 $248 $578 1.8% Bernanke chairs Fed3 K5 i/ |. Q0 c* h. P, L* u2 S
2007 $161 $501 1.1% Bank crisis1 }7 B% A' }: b6 _" O% a
2008 $459 $1,017 3.1% Bank bailout, QE
. _$ h2 a r0 u5 c; v2009 $1,413 $1,632 9.8% Stimulus Act. Bank bailout cost $250B, ARRA added $241.9B
) {2 E7 l' t" _+ ~. x8 x2010 $1,294 $1,905 8.6% Obama tax cuts, ACA, Simpson-Bowles4 l+ d; o# a( o9 M
2011 $1,300 $1,229 8.3% Debt crisis, recession and tax cuts reduced revenue
( x2 f7 s3 }, Q# J2012 $1,087 $1,276 6.7% Fiscal cliff
+ X& ~6 {) Q) i7 u9 n# {2013 $679 $672 4.0% Sequester, government shutdown
x6 X" b, S. L! f3 Z; c' T2014 $485 $1,086 2.7% Debt ceiling5 w6 F. b( S/ N/ ]! j, G! j* D
2015 $438 $327 2.4% Defense = $736.4B
- [+ Z5 R1 [& p$ ^9 J; q! A2016 $585 $1,423 3.1% Defense = $767.6B
# ]; d# i1 v$ Q6 g/ t6 s2017 $665 $672 3.4% Defense = $817.9B
, M; q. \0 L0 k. h& \! ?2018 $779 $1,217 4.0% Defense = $890.8B. Trump tax cuts" o7 k. `% F& x, R+ }
2019 $1,091 $1,314 NA Defense = $956.5B, z6 n% k8 A+ z$ z- H
2020 $1,101 $1,281 NA Defense = $989B" B3 V) o! O" ?. I: L- c
2021 $1,068 $1,276 NA NA
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