Please answer the following questions. 1. Visit the website below https://www.gpo.gov/fdsys/browse/collection.action?

Please answer the following questions.

1. Visit the website below

 https://www.gpo.gov/fdsys/browse/collection.action?collectionCode=ERP (Links to an external site.)

Links to an external site.

) and look at in tables B-17 to B-19 to provide the % of federal spending of 2015 on the military (US National Defense), health care, Education, Housing, transportation, and social security and also indicate about which types of government spending have grown as a % of GDP over time say compared with that of 1960 or earlier.

Note: If you cannot find the relevant data in the above url link, you may also google search to get to the right website.

2. Looking at the Federal Budget in terms of revenue and expenditure per year, please compare the growth of federal budget deficit and public debt as % of total GDP over time. You may only compare between current budget deficit and public debt (say 2015) and that of for say 1980 and 1960.

3. Given the information you have cited in Q2 above and also from the fact that Each year since winning control of the House of Representatives in the 2010 election, Tea Party Republicans have argued that we need to immediately initiate sharp reductions in government spending and entitlement programs and rapidly move towards a balanced budget, (although they have never actually produced a budget proposal in which tax revenues would match government spending plus entitlement transfers). Many Democrats, while arguing that tax rate increases on high income earners need to be part of the any deficit reduction program, have agreed that we need to initiate budget deficit reduction now. Based on this current state of fiscal policy debate, answer the following 2 questions. 

3. a. What is the argument against attempting to balance the Federal Government budget rapidly at the present time via either deep cuts in Federal Government spending or sharp increases in federal income tax rates? 

3.b. Does this argument imply that budget deficits don't matter in the long run? If not, why might the impact of large deficits predicted in the long run under current tax and spending programs be different than the impact today? Explain.

4. Look at the IRS Tax Stats website (https://www.irs.gov/uac/Tax-Stats-2 (Links to an external site.)

Links to an external site.

) and provide the information here about the average income tax rate, tax rates on high income earners, and also show the changes of these rates over time (say from year of 1980). How does this change of tax rates compare with the some similar industrialized countries such as Canada, UK, and Germany?

5. Visit the Website below on local govt expenses of the Commonwelath of massachusetts and answer the question followed:

http://www.mass.gov/dor/local-officials/municipal-databank-and-local-aid-unit/data-bank-reports/all-municipal-spreadsheets.html (Links to an external site.)

Links to an external site.

5a. Collect the data on of your home town's average property taxes or total property taxes, total revenue, total budget (and its % of state budget) budget deficit or surplus, aid from the state and how they have grown over time (say from 5 or 10 years back).

5b. Collect the same data you have done for 5a above, but for another town of your interest to compare with your home town and analyze the difference .