Federal Budget Deficit Expected to Nearly Double

Correct! - The nation’s fiscal imbalance is the present value of the government’s commitments to pay benefits minus the present value of its tax revenues. The fiscal imbalance is an attempt to measure the scale of the government’s true liabilities.

Well Done! - The structural deficit is the budget deficit that occurs if the economy is at full employment. With the economy close to full employment, the deficit is almost entirely a structural deficit.