Asked by Lisdrey Cires on May 13, 2024
Verified
In the mid-1990s,the federal budget deficit
A) fell substantially.
B) fell slightly.
C) stayed about the same.
D) rose slightly.
E) rose substantially.
Federal Budget Deficit
The financial shortfall when a government's expenditures exceed its revenues within a fiscal year.
- Examine the interconnection between government spending and taxation policies, borrowing costs, and the national budget shortfall.
Verified Answer
AR
Amanda RowenMay 17, 2024
Final Answer :
A
Explanation :
In the mid-1990s, the federal budget deficit fell substantially due to a combination of factors such as a strong economy, spending cuts, and tax increases. The deficit went from $290 billion in 1992 to $22 billion in 1997.
Learning Objectives
- Examine the interconnection between government spending and taxation policies, borrowing costs, and the national budget shortfall.
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