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Government spending Year Tax revenue (7) on goods & services (G) Transfer payments (TR) 2008 $2,000 $1,200 $600 2009 1,600 1,500 900 2010 1,700 1,400 700 2011 2,200 1,000 500 2012 2,400 1,600 800 6. a) Calculate the value of the budget balance and indicate whether there is a government surplus, deficit, or balance for each year. Year Budget Balance Surplus, Deficit, or Balanced? 2008 2009 2010 2011 2012 b) What is the value of the government debt for the period 2008-2012