Problem
The annual association meeting of your selected industry will take place soon. You have been asked to present a report regarding the current status of the federal budget and fiscal policies in place in the United States. For your presentation, write a report in which you consider and explain how the current status of the federal budget and fiscal policy will impact your chosen industry over the next 2 years, using economic theory to support the conclusions you draw. Do not write your report based just on textbook theory-address current policy and how it will impact your industry, based on theory. Address the following in your report as appropriate:
a) expansionary and contractionary fiscal policy,
b) fiscal policies used to close a recessionary gap and an expansionary gap, and
c) the rationale for budget deficits.
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.