Causes of Governmental Budget Deficits
- Tax cuts (these decrease revenue)
- Low Gross Domestic Product (GDP - the money that's being made in the country; it means that we're not making enough money domestically)
- Poorly-designed tax structures that under-tax high-earners and over-tax low-earners
- Excessive spending on certain governmental programs
- High amount of spending for subsidies to various industries
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