Hello, I need help with the following question: Table 1.1 shows the budget Summary of Receipts, Outlays,
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Question:
Hello, I need help with the following question:
Table 1.1 shows the budget Summary of Receipts, Outlays, and Surpluses or Deficits (-) from 1789-2022. Identify whether the highest deficits incurred in the identified years from Table 1.2 were paid with tax revenues (receipts) or borrowed funds (outlays). Discuss how the government gets money and where the government spends money on.
How would do I recognize if the highest deficits incurred were paid with tax revenues or borrowed funds? Thank you.
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