The federal government debt is equal to the
A. obligations of benefits from federal taxes and expenditures.
B. sum of all annual federal government outlays.
C. sum of past budget deficits minus the sum of past budget surpluses.
D. annual difference between federal government tax revenues and outlays.
Answer:C
The federal government debt is equal to the
A. obligations of benefits from federal taxes and expenditures. B. sum of all annual federal government outlays. C. sum of past budget deficits minus the sum of past budget surpluses. D. annual difference between federal government tax revenues and outlays.