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Accоrding tо the Cоngressionаl Budget Office (CBO), The U.S. budget deficit is forecаsted to be $1.4 trillion this yeаr. Bringing spending and revenue more in line, either by reducing spending and/or increasing revenue will improve U.S. fiscal outlook and keep it more in line with GDP What does GDP measure and why is it important to measure debt (accumulated deficits over time) as a percentage of GDP? (3) What is one spending and/or taxation changes you made using the CBO Budget Fixer (Discussion) to either improve the federal budget situation (reduce deficit and debt) or move allocations from one budget area to the other? Why did you choose this particular change?(3) Of the changes you listed above, what impact would these changes have on income/wealth inequality? Explain (4) In PBA, ch. 6, Desmond says “extreme displays of private opulence and public squalor are seen in the U.S, as much as we expect in the developing world” Why is this the case in the richest country in the world? Give two reasons for our vast inequality. (5)