Question

Answer this question before making any changes to spending percentages. What was the budget deficit in 2012? $1,090.0 billion $2,450.2 billion $3,540.2 billion $3,675.8 billion

Answer 1

The first choice $1,090.0 billion

Answer 2

Answer:

The budget deficit in 2012 was of 1,090 billion dollars.

Explanation:

The budget deficit of the federal government should not be confused with the trade deficit, which is the difference between net imports and net exports. The deficit is presented in cash instead of an accrual criterion, although the deficit provides more information about the long-term consequences of the government's annual operations.

The government annual deficit or surplus refers to the difference in cash between government revenues and expenditures, ignoring intragovernmental transfers. Gross public debt increases or decreases as a result of this deficit or surplus of the unified budget.