The recent Trump tax cuts are projected to increase the national debt by $24.5 trillion over the next 20 years. This will be financed through future taxes. Americans future standard of living will increase if the tax cuts produce a large increase in current and future GDP the government increases expenditures net exports rise substantially the current account goes into surplus

The recent Trump tax cuts are projected to increase the national debt by $24.5 trillion over the next 20 years. This will be financed through future taxes. Americans future standard of living will increase if the tax cuts produce a large increase in current and future GDP the government increases expenditures net exports rise substantially the current account goes into surplus

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: Six Debates Over Macroeconomic Policy

Section18.5: Should The Government Balance Its Budget?

Problem 5QQ

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