Which of the following statements is an accurate description of the relative sizes of the major components of the federal budget for the United States in 2003?

Question

Quizplus · Accepted Answer

All the statements accurately describe the federal budget of the United States in 2003. Defense spending was indeed higher than the revenue from corporate income tax, transfer payments (like Social Security, Medicare, and Medicaid) exceeded the revenues from both social security taxes and individual income taxes, and income plus social security taxes constituted the majority of federal receipts, making up a significant portion of the budget.

Which of the Following Statements Is an Accurate Description of the Relative