Directions for questions 3, 4 and 5: After starting the Federal Balancing Simulation e carefully review all the spending and revenue choices which will affect projected decits over the next ten years. Review the pros and cons for each item before you make your policy choices. You are required to make at least 3 choices on both the spending and revenue sides of the budget. You can click the "information button" next each choice to nd more about each category. Once you've created a sustainable budget, please click "Submit." Take careful notes on your results. You can have them sent by e-mail directly to your account. #3: Explain your Spending choices. Which of your spending choices had the biggest impact on the projected decit? Discuss the arguments for and against 3 of your spending choices. #4: Carefully explain your revenue choices. Which of your revenue choices had the biggest impact on the projected decit? Discuss the benets and costs [pros and cons) of at least two of your revenue choices. #5: Did you make progress in the long term towards a sustainable budget? What percentage did you move towards a sustainable budget? What was your projected 21322 budget decit? #6: How should the federal government set the budget on a sustainable course in the next 10 years? Will the federal budget ever return to a sustainable course in a post-pandemic economy? Utilizing economic reasoning explain how you would "x\" the Federal Budget and discuss your views regarding future budget tradeoffs