Assume that the composition of federal outlays and receipts shown in the figure remained the same in 2017. In the figure, the categories "Defense and homeland security" and "Non-defense discretionary"...


Assume that the composition of federal outlays and receipts shown in the figure remained the same in 2017. In the figure, the categories

Extracted text: Assume that the composition of federal outlays and receipts shown in the figure remained the same in 2017. In the figure, the categories "Defense and homeland security" and "Non-defense discretionary" are discretionary outlays. and all other categories are mandatory outiays. Also assume that the total spending was $2.32 trilion. Complete parts (a) and (b) below. Federal Spending |Social Security 21N Medicare 14 O Interest on dett 7% Medicaid, govemment pensions and other mandatory spending 25% Delerse and homeland security 17% | Non-delense discretorary 16% a. About how much was spent on non-defense discretionary outlays in 2017? billion (Round to one decimal place as needed.) b. Suppose that combined spending on Social Security and Medicare increased by 5% from its 2017 level, but total spending remained unchanged. Assuming that all the needed cuts came from non-defense discretionary spending, how much would this spending decrease? Give the answer both in dollars and as a percentage. This spending would decrease by S billion, or%. (Round to one decimal place as needed.)

Jun 09, 2022
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