Question

The financial crisis of 2008 led to massive federal spending in an effort to stimulate the economy. The combination of the new federal spending and the automatic stabilizers led to:
(a) the largest budget deficit since World War II.
(b) the highest rate of inflation since the Great Depression.
(c) a higher government debt-to-GDP ratio than at any time in American history.
(d) a deficit that is expected to remain permanently at ten percent or more of GDP.