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Many states have constitutional requirements that their budgets be in balance (or in surplus) in any given year, but this is not true for the

Many states have constitutional requirements that their budgets be in balance (or in surplus) in any given year, but this is not true for the U.S. federal government. Why might itmake sense to allowfor federal government to have deficits in some years and surpluses in others? What about state government? Please share your thoughts.

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