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    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 Preview

    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 ...

    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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