Deficits are a bigger problem for states than they are for the federal government.

Name: Deficits are a bigger problem for states than they are for the federal government.
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Question

Quizplus · Accepted Answer

States are generally required to balance their budgets, meaning they cannot spend more than they earn in revenues, unlike the federal government which can run deficits and borrow to cover its expenses. This makes deficits a bigger problem for states, as they have less flexibility in managing their finances.

Deficits Are a Bigger Problem for States Than They Are