Political Math. Government spending for a popular housing program was $1 billion last year. When Congress prepares its budget for next year, spending for the program is slated to rise to $1.01 billion. Assume that the Consumer Price Index is expected to rise by 3% over the next year. Those who support the program complain that the program is being cut. Those who oppose the program complain that the program is being increased. Explain each position.
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