Question
PLEASE PROVIDE A GOOD EXPLANATION FOR EACH QUESTION Congressional Budget office(CBO) estimates that the budget deficit of the fiscal year 2011is about $1.3 trillion. The
PLEASE PROVIDE A GOOD EXPLANATION FOR EACH QUESTION
Congressional Budget office(CBO) estimates that the budget deficit of the fiscal year 2011is about $1.3 trillion. The deficit for 2012 was to improvelittle(around $1.1 trillion).The deficit for 2013 was $680 billion. Finally the deficit reduced to $483 billion for 2014. The federal budget deficit of 2015 was $439 billion. The federal budget deficit of 2016 was $534 billion. The federal budget deficit of 2017 was $668 billion. The federal budget deficit of 2018 was $779 billion. The federal budget deficit of 2019 was $896 billion.CBOannounced a federalbudget deficitof $3.1 trillion in2020, more than triple the shortfall recorded in 2019
1A) Are we going back to the budget deficit cycle again? Is it because ofgrowing Government spending, the war against terroror the president Trump's stimulus policy of tax cutor emergency government spending due to Corona virus?
1B) Although the war against IRAQ was over quick(?), there will be involved withthe additional cost after the war including the reconstruction and humanitarian aids , or another war(Afghan) or fighting against ISIS.How does this militarycost contribute to our rising budget deficit?
1C) WillTrump's stimulus package( Spending increase and Tax cut)contribute to another huge budget deficit down the road? Is this TAX CUT withlarge budget deficitnecessary for the economynow(could this policybe overheating the economy or inflationary?) orwill it cause another financial danger to hauntUS economy soon due to crowding out from these huge deficit? or do you agree with supply- sider that Tax cut can boost economic growth so much to generate tax revenue and this will help reducing deficit and debt? or did Trump tax cuts contribute to worsening income inequality between the rich and the poor?Or Biden's Covid stimulus spending will prevent another recession or lead to potential inflation?
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