Which of the following does NOT explain why the record budget surplus in 2000 turned into record budget deficits by 2008?

Question

Quizplus · Accepted Answer

While the recession of 2001 and the events of 9/11 certainly contributed to the shift from surplus to deficit, the strong recovery from the 2001 recession and the economic disruption caused by the war in Iraq both added to government spending and decreased revenues. The bursting of the dot.com bubble also had an impact on the economy. However, high interest rates resulting from the strong recovery did not contribute to the record deficits.

Which of the Following Does NOT Explain Why the Record