Problem
1. It may be argued that the effects of a higher public debt are the same as the effects of a higher deficit. Why?
2. What happens to the net public debt if the federal government operates next year with a:
a. budget deficit?
b. balanced budget?
c. budget surplus?
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.