Problem
Go to the Web site of the Congressional Budget Office and find projections for the government budget deficit for the coming five years. Compare the size of the deficit and the full-employment deficit (which the CBO calls the budget deficit without automatic stabilizers) relative to potential GDP in those years, and compare your results to the history shown in Fig. 15.5. What macroeconomic or political factors have caused the changes you observe in the deficit measures?
Figure 15.5
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.