If the federal government brings in $1.1 trillion in tax revenues and spends $0.7 trillion, the government has a budget _______ of _______ trillion.

Name: If the federal government brings in $1.1 trillion in tax revenues and spends $0.7 trillion, the government has a budget _______ of _______ trillion.
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Question

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When the government's tax revenues exceed its spending, it results in a budget surplus. In this case, the surplus is $0.4 trillion ($1.1 trillion in revenues minus $0.7 trillion in spending).

If the Federal Government Brings in $1