Budget Deficit

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Title: Budget Deficit

Essay Details:

Subject: Business

Author: Kimberly S

Date: September 11, 2010

Level: University

Grade: A

Length: 4 / 931

Essay text:

The significant expansion in the deficit is the result of a substantial increase in spending and a halt in revenue growth. In 2008, CBO estimates, federal spending will be 8.3 percent higher than it was in 2007; at the same time, total revenues will be less than they were in 2007. According to CBO's forecast, deficits will hit $431 billion in 2010 and then start falling. But the government would run a deficit of $126 billion in 2012 and grow to $147 billion in 2013. The projections assume Bush's tax cuts will expire at the end of 2010 as scheduled under current law. Problem statements: 1. Huge budget deficit in an already slowing economy 2...

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