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what is the U.S federal government doing in the news below? On the closing of the 2018 fiscal year, the United States' federal budget deficit
what is the U.S federal government doing in the news below?
On the closing of the 2018 fiscal year, the United States' federal budget deficit escalated to $779 billion, the Treasury Department announced on Monday. The jump in the federal budget deficit accounts for an extra 17 percent, or $113 billion, which is the highest rise in the past six years. According to the New York Times, the rise in the federal budget deficit was driven mainly by a steep decline in corporate tax revenues due to President Trump's imposed tax cuts. Administration officials, however, claimed the deficit's incline instigated by the Congress' increased federal spending. OA. a contractionary fiscal policy OB. a contractionary monetary policy OC. an expansionary fiscal policy OD. an expansionary monetary policy
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