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Why Did the Federal Surpluses of the 1990s Turn to Deficits

Question 49

Multiple Choice

Why did the federal surpluses of the 1990s turn to deficits?


A) a combination of tax cuts and a softening economy
B) the impact of a trade war with China
C) the dramatic rising cost of military spending to combat terrorism
D) the wars in Iraq and Afghanistan
E) new laws that created tax loop holes for corporations

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