Thank you for visiting To reduce the national deficit lawmakers must save over the next 10 years A 10 trillion B 50 trillion C 2 trillion D 3 trillion. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
Final answer:
The government would have $95 billion in debt after running a budget deficit for ten years, a surplus for five years, and then maintaining a balanced budget for another ten years.
Explanation:
To understand the government debt, we can look at the budget deficit and surpluses over a series of years. If a government runs a budget deficit of $10 billion dollars each year for ten years, they would accumulate a total deficit of $100 billion. Following this, if the government secures a surplus of $1 billion for five years, they effectively reduce the debt by $5 billion, resulting in a debt of $95 billion. Assuming the government maintains a balanced budget for the subsequent ten years, no additional debt is incurred. Thus, the government debt remains at $95 billion after the full 25-year period.
Relating this to historical data, during times of economic recovery or effective budget control, the annual deficit may be reduced. However, irrespective of deficit reductions, the total government debt is a cumulative figure that entails all past deficits and surpluses.
The magnitude of trillion-dollar figures can be hard to comprehend. To illustrate, if you were given a trillion dollars in $100 bills and stacked them to cover a football field, the height of the pile can be vastly more significant than an individual might initially guess, running into several feet.
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