THE RISE OF POLITICAL CONSERVATISM 1980 1992
REAGANOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Military Spending
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Businesses Spending Money
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People taking out loan and not paying them back
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None of the above
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Detailed explanation-1: -Tax cuts, stimulus programs, increased government spending, and decreased tax revenue caused by widespread unemployment generally account for sharp rises in the national debt.
Detailed explanation-2: -MISMATCH BETWEEN SPENDING AND REVENUES While the COVID-19 pandemic exacerbated an unsustainable fiscal trajectory, the national debt was already growing because of a fundamental imbalance between spending and revenues that will continue to grow in the future.
Detailed explanation-3: -The economic cost of defense spending shows up in the national debt and in a dislocation of potential jobs from the private sector to the public. There is an economic distortion of any industry that the military relies on as resources are diverted to produce better fighter planes and weapons.
Detailed explanation-4: -The military budget pays the salaries, training, and health care of uniformed and civilian personnel, maintains arms, equipment and facilities, funds operations, and develops and buys new items. The budget funds five branches of the U.S. military: the Army, Navy, Marine Corps, Air Force, and Space Force.