A bill that is designed to reduce the nation's budget deficit passes both houses of legislature. Congress tells us that the bill will reduce the deficit by $500 billion over 10 years. What it does not tell us is the timing of the reductions as shown below. Year Deficit Reduction 1 $ 25 Billion 2 $ 30 Billion 3 $ 35 Billion 4 $ 40 Billion 5 $ 45 Billion 6 $ 55 Billion 7 $ 60 Billion 8 $ 65 Billion 9 $ 75 Billion 10 $ 85 Billion If the federal government can borrow at 8%, what is the true deficit reduction in the bill