These questions will help me to study for my test so please be as thorough as possible!

1. What is the current state of the federal budget and fiscal policies in place in the United States?
2. How will the current state of the federal budget and fiscal policy impact the oil and gas industry over the next 2 years?
3. Address the expansionary and contractionary fiscal policy in terms of the oil and gas industry.
4. Address the fiscal policies used to close a recessionary gap and the expansionary gap.
5. Address the rationale for the budget deficits in terms of the oil and gas industry.