If the federal government brings in $3 trillion in tax revenues and spends $4 trillion, the government has a budget _______ of _______ trillion.

Question

Quizplus · Accepted Answer

When the government spends more than it brings in through tax revenues, it results in a budget deficit. In this case, spending $4 trillion while only bringing in $3 trillion in tax revenues results in a budget deficit of $1 trillion.

If the Federal Government Brings in $3 Trillion in Tax