If the Federal Budget Goes from a Budget Deficit in Year

question 120

Essay

If the federal budget goes from a budget deficit in Year 1 to a budget surplus in Year 2,does it follow that the federal government acted to raise taxes or cut government spending in Year 2?

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Definitions:

Law

A set of regulations established and implemented by societal or governmental bodies to control conduct.

Statutes

Laws enacted by the legislative branch of a government.

Code

A compilation of all the statutes of a particular state or of the federal government.

Bill of Rights

The first ten amendments to the United States Constitution, guaranteeing such rights as the freedoms of speech, assembly, and worship.