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The U.S Treasury statement for August 2015 reports the following: Receipts: Individual Income Tax $ 103 B Social Security & Other Payroll Taxes 83 B
The U.S Treasury statement for August 2015 reports the following:
Receipts:
Individual Income Tax $ 103 B
Social Security & Other Payroll Taxes 83 B
Corporate Income Tax 2 B
Other Taxes, etc. 23 B
Outlays by Function:
Defense $ 40 B
Social Security 75 B
Medicare 24 B
Interest on Debt 25 B
Other 111 B
Calculate (i) the total surplus (or deficit) and (ii) the primary surplus (or deficit).
What is the logical Reason for distinguishing between the two measures?
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