The US federal budget has been experiencing a deficit since president Clinton left office. How can we balance the federal budget?

It is stated that the US is facing a budget deficit since President Clinton left the office. The following are the remedies that will help the US to balance the federal budget-

1. The government must reduce the amount of spending in the economy by using the contractionary fiscal policy so that as the spending level decline it will automatically match the level of revenue earned.

2. The government can also raise the tax rates so that there is no need to reduce the level of spending on the economy. Hence, as the level of revenue rises, there is a decline in the level of budget deficit keeping the level of spending constant.