Problem
Using quarterly data since 1959, graph Federal government expenditures and receipts as a percentage of GDP Separately, graph state and local government expenditures and receipts as a percentage of GDP. Compare the two graphs. How do Federal and state/local governments compare in terms of (a) growth of total spending and taxes over time and (b) the tendency to run deficits?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.