(A)

The burden of the national debt on present and future generations ___________- on who owns the accumulated national debt. If the debt is owned ______________ to the nation, then debt payment is simply a transfer of income between households in the nation in the future.

If, over time, real government budget deficit remains unchanged, and national debt continues to increase, a __________ portion of available tax dollars will be spent on interest payments on the debt, and as a result, _____________ can be spent on highways, health care, defense, and other public-sector programs.

(B)

Suppose the media report that the federal deficit this year is $200 billion. The national debt was $5,000 billion last year, and it is $5,200 billion this year. The price level this year is 1% higher than it was last year.

The real value of the deficit is __________ billion.

Please answer a and b correct thank you