The U.S. Office of Management and Budget (OMB) publishes historical budget tables. For this exercise, consider the following two tables: Table 1.1: Summary of Receipts, Outlays, and Surpluses or Deficits Table 3.1: Outlays by Superfunction and Function Prepare an analysis in both nominal and real dollars (2018 $) of the following data for 1975-2023: (a) Total federal outlays, (b) total defense spending, and (c) total spending on Medicare and Medicaid

( Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. 136 * \$500 thousand or less. 137 Note: Budget figures prior to 1933 are based on the "Administrative Budget" concepts rather than the "Unified Budget" concepts. 138 139 140 Home Insert Draw Page Layout Formulas Data Review View Automate @ Tell me ConditionalFormatFormattingasTableCellStyles Comments Share ( ) Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check for Updates A1 fx Table 3.1 - OUTLAYS BY SUPERFUNCTION AND FUNCTION: 1940 - 2028 Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. 136$500 thousand or less. 137 Note: Budget figures prior to 1933 are based on the "Administrative Budget" concepts rather than the "Unified Budget" concepts. 138 Home Insert Draw Page Layout Formulas Data Review View Automate @ Tell me ( Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check for Updates A1 fx Table 3.1 - OUTLAYS BY SUPERFUNCTION AND FUNCTION: 1940 - 2028 ( Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. 136 * \$500 thousand or less. 137 Note: Budget figures prior to 1933 are based on the "Administrative Budget" concepts rather than the "Unified Budget" concepts. 138 139 140 Home Insert Draw Page Layout Formulas Data Review View Automate @ Tell me ConditionalFormatFormattingasTableCellStyles Comments Share ( ) Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check for Updates A1 fx Table 3.1 - OUTLAYS BY SUPERFUNCTION AND FUNCTION: 1940 - 2028 Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. 136$500 thousand or less. 137 Note: Budget figures prior to 1933 are based on the "Administrative Budget" concepts rather than the "Unified Budget" concepts. 138 Home Insert Draw Page Layout Formulas Data Review View Automate @ Tell me ( Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check for Updates A1 fx Table 3.1 - OUTLAYS BY SUPERFUNCTION AND FUNCTION: 1940 - 2028