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Assume that the total revenue for 2017 was $1.44 trillion and total spending was $1.74 trillion. Suppose that in 2018, total spending increases by 1.4%
Assume that the total revenue for 2017 was $1.44 trillion and total spending was $1.74 trillion. Suppose that in 2018, total spending increases by 1.4% and total revenue increases by 2.4% from the 2017 levels given. Would the 2018 deficit be larger, smaller, or the same as the 2017 deficit? Explain. Revenue increases 2018. billion, and spending increases by $ billion. So, the deficit from 2017 to (Round to one decimal place as needed.)
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