Write an essay analyzing the advantages and disadvantages of deficit spending and the effects of federal government borrowing on the economy i.e., the “crowding out” effect. Complete this essay in a Microsoft Word document, and in APA format. Note your submission will automatically be submitted through “TurnItIn” for plagiarism review. Please note that a minimum of 700 words for your essay is required.Your paper should be structured as follows1. Cover page with a running head 2. Introduction: What is deficit spending and how does it work.2.1. Advantages2.2. Disadvantages3. Crowding-out Effect4. Conclusions: Do you believe that deficit spending helps or hinders short-term and long-term economic growth?