Case Study 2 Use the information from the chart below, as well as your relevant responses above to answer the follow case study #2 questions: Please note that “budget receipts” (BR) reflects the total tax revenue the federal government collected for that year; the “budget expenditures” (BE) reflects how much money the federal government spent in that year. The difference between the BR and the BE will either be a “surplus” (positive amount) or “deficit” (negative amount). The “total public debt” has accumulated each year since the federal government began, with each previous year’s surplus either reducing the total debt for the next year or its deficit increasing the debt for the next year. 7)How much smaller (as a percentage) was the federal debt the very beginning of the Civil War than at the end?

Answer rating: 100% (QA)

The federal debt was only 65 million in 1860 but topped 1 billion in 1863 and reached 27 billion ... View the full answer