Canadian Minister of Finance, Chrystia Freeland, presented the federal government's first budget in over two years in the House of Commons on April 19, 2021. According to the budget, the federal government is projecting a budgetary deficit of $354.2 billion for the fiscal year 2020-2021. Based on the information presented, which of the following is a statement that you DISAGREE with? Explain why. 1. Over the fiscal period indicated, Canadian federal government outlays exceeded revenues. 2. To effectively deal with the budgetary deficit and reduce it, the federal government will need to increase revenues and/or reduce expenditures. 3. Over the fiscal period indicated, Canadian federal government outlays were less than revenues. + Paragraph BIUA