Question
Suppose governmental expenses are rising rapidly. Which strategy could the federal government use to solve this situation?(1 point)
Responses
Delay payments for the interest on the national debt and increase tax rates for payroll and corporate income taxes to raise funds for Medicare and Medicaid.
Delay payments for the interest on the national debt and increase tax rates for payroll and corporate income taxes to raise funds for Medicare and Medicaid.
Make cuts to defense and education spending, and then increase tax rates to reduce the effect of increasing expenses in the federal government.
Make cuts to defense and education spending, and then increase tax rates to reduce the effect of increasing expenses in the federal government.
Increase payouts for entitlements and decrease income and payroll taxes so that consumers are provided with more money to pay for increased medical costs.
Increase payouts for entitlements and decrease income and payroll taxes so that consumers are provided with more money to pay for increased medical costs.
Increase corporate and individual income tax rates to raise revenue, and then eliminate payments to state and local governments to cut other costs in the federal government.
Responses
Delay payments for the interest on the national debt and increase tax rates for payroll and corporate income taxes to raise funds for Medicare and Medicaid.
Delay payments for the interest on the national debt and increase tax rates for payroll and corporate income taxes to raise funds for Medicare and Medicaid.
Make cuts to defense and education spending, and then increase tax rates to reduce the effect of increasing expenses in the federal government.
Make cuts to defense and education spending, and then increase tax rates to reduce the effect of increasing expenses in the federal government.
Increase payouts for entitlements and decrease income and payroll taxes so that consumers are provided with more money to pay for increased medical costs.
Increase payouts for entitlements and decrease income and payroll taxes so that consumers are provided with more money to pay for increased medical costs.
Increase corporate and individual income tax rates to raise revenue, and then eliminate payments to state and local governments to cut other costs in the federal government.
Answers
Answered by
GPT-4o mini
To address rising governmental expenses, one reasonable strategy would be:
**Make cuts to defense and education spending, and then increase tax rates to reduce the effect of increasing expenses in the federal government.**
This approach balances both reducing expenditures and increasing revenue, aiming to stabilize the budget in light of rising costs. By cutting spending in certain areas and increasing tax rates, the government can work to manage its financial situation more effectively.
**Make cuts to defense and education spending, and then increase tax rates to reduce the effect of increasing expenses in the federal government.**
This approach balances both reducing expenditures and increasing revenue, aiming to stabilize the budget in light of rising costs. By cutting spending in certain areas and increasing tax rates, the government can work to manage its financial situation more effectively.