Change in U.S government debt since 2008 and its sources.

Question

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Answer 1

Question

Chapter 13, Problem 1SPA

To determine

Change in U.S government debt since 2008 and its sources.

Expert Solution & Answer

Explanation of Solution

Since 2008, the U.S. government budget has been continue as deficit due to the increment in expenditure. In 2010, the budget deficit was extra-large, which was more than 10 per cent of GDP. During 2015, the total revenue was $4,158 billion and expenditure is $3,514, which cause deficit of $644 billion. The major cause of continuing budget deficit is expenditure on goods and services, particularly security related goods and services and expenditure on defense has been increased after 2000. Another source of government debt was transfer payment, which includes social security benefit, health care and unemployment insurance has been increased since 2008 as a result of stimulating economy.

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Answer 2

Question

Chapter 13, Problem 1SPA

To determine

Change in U.S government debt since 2008 and its sources.

Expert Solution & Answer

Explanation of Solution

Since 2008, the U.S. government budget has been continue as deficit due to the increment in expenditure. In 2010, the budget deficit was extra-large, which was more than 10 per cent of GDP. During 2015, the total revenue was $4,158 billion and expenditure is $3,514, which cause deficit of $644 billion. The major cause of continuing budget deficit is expenditure on goods and services, particularly security related goods and services and expenditure on defense has been increased after 2000. Another source of government debt was transfer payment, which includes social security benefit, health care and unemployment insurance has been increased since 2008 as a result of stimulating economy.

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Answer 3

Question

Chapter 13, Problem 1SPA

To determine

Change in U.S government debt since 2008 and its sources.

Expert Solution & Answer

Explanation of Solution

Since 2008, the U.S. government budget has been continue as deficit due to the increment in expenditure. In 2010, the budget deficit was extra-large, which was more than 10 per cent of GDP. During 2015, the total revenue was $4,158 billion and expenditure is $3,514, which cause deficit of $644 billion. The major cause of continuing budget deficit is expenditure on goods and services, particularly security related goods and services and expenditure on defense has been increased after 2000. Another source of government debt was transfer payment, which includes social security benefit, health care and unemployment insurance has been increased since 2008 as a result of stimulating economy.

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Answer 4

Question

Chapter 13, Problem 1SPA

To determine

Change in U.S government debt since 2008 and its sources.

Expert Solution & Answer

Explanation of Solution

Since 2008, the U.S. government budget has been continue as deficit due to the increment in expenditure. In 2010, the budget deficit was extra-large, which was more than 10 per cent of GDP. During 2015, the total revenue was $4,158 billion and expenditure is $3,514, which cause deficit of $644 billion. The major cause of continuing budget deficit is expenditure on goods and services, particularly security related goods and services and expenditure on defense has been increased after 2000. Another source of government debt was transfer payment, which includes social security benefit, health care and unemployment insurance has been increased since 2008 as a result of stimulating economy.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 13, Problem 1SPA

To determine

Change in U.S government debt since 2008 and its sources.

Expert Solution & Answer

Explanation of Solution

Since 2008, the U.S. government budget has been continue as deficit due to the increment in expenditure. In 2010, the budget deficit was extra-large, which was more than 10 per cent of GDP. During 2015, the total revenue was $4,158 billion and expenditure is $3,514, which cause deficit of $644 billion. The major cause of continuing budget deficit is expenditure on goods and services, particularly security related goods and services and expenditure on defense has been increased after 2000. Another source of government debt was transfer payment, which includes social security benefit, health care and unemployment insurance has been increased since 2008 as a result of stimulating economy.

Answer 6

Chapter 13, Problem 1SPA

To determine

Change in U.S government debt since 2008 and its sources.

Expert Solution & Answer

Explanation of Solution

Since 2008, the U.S. government budget has been continue as deficit due to the increment in expenditure. In 2010, the budget deficit was extra-large, which was more than 10 per cent of GDP. During 2015, the total revenue was $4,158 billion and expenditure is $3,514, which cause deficit of $644 billion. The major cause of continuing budget deficit is expenditure on goods and services, particularly security related goods and services and expenditure on defense has been increased after 2000. Another source of government debt was transfer payment, which includes social security benefit, health care and unemployment insurance has been increased since 2008 as a result of stimulating economy.

Answer 7

Chapter 13, Problem 1SPA

To determine

Change in U.S government debt since 2008 and its sources.

Answer 8

Expert Solution & Answer

Explanation of Solution

Since 2008, the U.S. government budget has been continue as deficit due to the increment in expenditure. In 2010, the budget deficit was extra-large, which was more than 10 per cent of GDP. During 2015, the total revenue was $4,158 billion and expenditure is $3,514, which cause deficit of $644 billion. The major cause of continuing budget deficit is expenditure on goods and services, particularly security related goods and services and expenditure on defense has been increased after 2000. Another source of government debt was transfer payment, which includes social security benefit, health care and unemployment insurance has been increased since 2008 as a result of stimulating economy.