Introduction and Causes of the Budget Deficit
The United States Budget Deficit has been in the news recently. This is because of the huge gap between revenues and expenditure that has resulted in a budget deficit of more than a Trillion Dollars each year. The situation was not so bad during the last decade when under President Clinton; the US actually ran a budget surplus. However, once President Bush took over, the budget surplus turned into a deficit mainly because the US was paying for the Iraq war that was very expensive and extended the tax cuts for the rich, which meant that the government went without the tax revenues. ...
