Question

. During the last 5 years what are the key trends in the government deficit for your own economy?

Answer 1

There have been several key trends in the government deficit in US economy such as the increment in obligatory government spending for society’s well-being. Second, key trend was the reduction in taxes and provided extended benefits for unemployment; expansionary fiscal policy was used for the betterment of the economy and to create more jobs in the economy held in the second quarter of 2009. Third and the highlighted key trend was 9/11 attack which increased spending on defense and military equipments and trainings. Last trend for increasing government deficit was 2008 recession which brought in a huge financial crisis in the economy ad also led to fall in revenues of federal government.