Budget Projections. If the revenue increase described in Exercise 1 is only 4% and the spending increase is also 4%, how would the 2017 deficit compare to the 2012 deficit?
Exercise 1
Budget Projections. By 2017, federal revenue is projected to increase about 54% from the 2012 level of $2.45 trillion. By 2017 spending is projected to increase by about 20% from the 2012 level of $3.54 trillion. How would these changes affect the 2017 deficit compared to the 2012 deficit?
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