Political Agenda's Impact on the Federal Budget
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Explain and take a position on at least two indications from the U.S. Federal Deficit Chart and the 2012 U.S. Budget used for determining the political nature of budgets.
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Solution Summary
The federal budget and deficit provides insight into the the political party that's in charge. The political party's agenda will have a lasting impact on the federal budget.
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In the 2012 Budget, the Congressional Budget Office (CBO) predicted that the revenues would increase by almost $800 billion between 2012 and 2014 and 16.3% in 2012 to 20% in 2014. The increase in revenues are due to schedule expiration of tax provisions enacted in 2001, 2003 and 2009, which provided for lower income tax rates and limited tax ...
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