List the 3 major revenue sources and 3 major expenditures in the 2022-2023 U.S. budget. How much (approximate %) of the budget is NOT mandatory, interest or defense spending. What is meant by the term “mandatory” in this context? How do you think that this realistically affects efforts to balance the budget?.

ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter12: Federal Budgets And Public Policy
Section: Chapter Questions
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List the 3 major revenue sources and 3 major expenditures in the 2022-2023 U.S. budget.
How much (approximate %) of the budget is NOT mandatory, interest or defense spending.
What is meant by the term “mandatory” in this context? How do you think that this realistically affects efforts to balance the budget?.

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