What best describes the position of the U. S. budget, as of fiscal year 2010 (and true today as well), when all current spending and future entitlement obligations are taken into account?

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Business

Rhett Davies

1 January, 00:40

What best describes the position of the U. S. budget, as of fiscal year 2010 (and true today as well), when all current spending and future entitlement obligations are taken into account?

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Jovanny Summers · Answer 1

Answer: The deficit is lower when compared to 2010.

Explanation:

The United States Budget for 2010 titled "A New Era of Responsibility: Renewing America's Promise by President Barack Obama's budget in 2010 was $3.456 trillion for expenditure and total revenue was $2.163 which led to a budget deficit of $1.294 trillion.

In 2019, the revenue was $3.422 and expenditure was $4.407 which led to a budget deficit was $985. It can be deduced that there has been a reduction in the budget deficit when compared to 2010.