The federal government debt is equal to the
A) sum of all annual federal government outlays.
B) obligations of benefits from federal taxes and expenditures.
C) annual difference between federal government tax revenues and outlays.
D) sum of past budget deficits minus the sum of past budget surpluses.

Question

Quizplus · Accepted Answer

The federal government debt is the cumulative result of past budget deficits and surpluses. It is calculated as the sum of all past budget deficits minus the sum of all past budget surpluses.

The Federal Government Debt Is Equal to the