The federal budget exhibited a surplus equal to 0.6 percent of GDP in 2008, but moved to a deficit of 0.4 percent of GDP in 2009.Some people want to blame the deficit solely on tax cuts, but others argued that the deficit grew because of the recession suffered in 2008-2009.Evaluate the validity of the second argument.

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The Answer of The federal budget exhibited a surplus equal to 0.6 percent of GDP in 2008, but moved to a deficit of 0.4 percent of GDP in 2009.Some people want to blame the deficit solely on tax cuts, but others argued that the deficit grew because of the recession suffered in 2008-2009.Evaluate the validity of the second argument.

The Federal Budget Exhibited a Surplus Equal to 0