Budget Analysis. Assume the federal outlays and receipts shown in Figures 4.13 and 4.14 remained the same in 2013. Also assume that total revenue for 2013 was $2.9 trillion and total spending was $3.5 trillion.
Suppose that total spending increases by 1.6% over the 2013 level. Would this increase be possible with a 2% increase in revenue over the 2013 level?
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