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Between summer 1981 and summer 1982, tax revenue fell by about 6% in real terms, caused by the dual effects of the economy dipping back into recession (the second dip of the "double dip recession") and Kemp-Roth's reduction in tax rates, and the deficit was likewise rising rapidly because of the fall in revenue and the rise in government ...
When the government spends more than it brings in, it runs a Budget Deficit that year. [18] In order to pay for the extra spending, governments issue debt. Government debt is the amount of money credited from individuals, firms, foreign entities as well as the federal government itself through the federal reserve system. [ 9 ]
The Fisc states that the federal deficit increased due to human resource expenditures, increased tax cuts, and increased military expenditure during the 1980s. The Fisc further reports that in expectations and defense spending declined in the 1990s one would expect the expenditure per state to decrease along with the government.
Abbott sent letters to the leaders of the U.S. House and Senate and entire Texas congressional delegation requesting the federal government reimburse Texas for more than $11.1 billion spent on ...
Texas Gov. Greg Abbott has asked the federal government to reimburse his state for the more than $11 billion of taxpayer money it has spent on border security over the past four years.
"Texas was never told in advance about the auction of the usable wall panels," wrote Patrick on Wednesday in a lengthy X, formerly Twitter post, referring to GovPlanet, a surplus government ...
Private parties entering into a contract with one another (i.e., commercial contracts) have more freedom to establish a broad range of contract terms by mutual consent compared to a private party entering into a contract with the Federal Government. Each private party represents its own interests and can obligate itself in any lawful manner.
Wednesday’s impeachment hearings will rightly dominate headlines given the bombshells in Ambassador Gordon Sondland’s testimony, but they weren’t the only hearings happening in Congress. The ...