Using only.gov Websites report the current GDP, the current Federal deficit, the current Federal debt, and...
- Using only.gov Websites report the current GDP, the current Federal deficit, the current Federal debt, and the bottom line of the current (last) budget approved by Congress (surplus or shortage). Note that the fiscal year for the federal government is October 1 – September 31.
- What inference can you draw from the numbers collected?
Homework Answers
The current federal deficit = $851,277,400,000
The current Federal debt = $21,919,9423,000,000
The current budget approved by Congress = Deficit of 4.087% to the GDP
The inference we draw is the the federal budget deficit is increasing which is a negative. The federal deficit to GDP ratio in 1980 was 1.496% whereas at present is ratio is about 4.087%. The future budgets should reduce spending and bring down the deficit to historical low levels so as to lead to long term sustainability.
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