Suppose you have the following data on projected and actual figures for the U.S. budget for 2001 (in billions of dollars):
(A)What was the projected budget deficit? What was the actual budget deficit? Why did this happen?
(B)If the government debt was $3,530 billion at the end of 2000, what was the debt at the end of 2001?
(C)If GDP was $9,500 billion in 2001, what was the debt to GDP ratio? How does this compare to 1992's debt to GDP ratio?
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