Final answer:
The asymmetry between the federal government's powers to tax and spend is best characterized by the government's ability to tax being relatively unrestrained, while its spending ability is confined by budgetary constraints. Government spending can vary due to policy decisions and unexpected events, and the government may run a budget deficit if it spends more than its tax revenue.
Step-by-step explanation:
The asymmetry between the federal government's powers to tax and spend can be characterized by statement (c): The government's ability to spend is confined by budgetary constraints, whereas its authority to tax is relatively unrestrained.
While the government can implement a wide range of taxes, its spending capacity is limited by the amount it can allocate within a fiscal budget. This budget is influenced by incoming revenues from taxation, policy decisions, and economic conditions, which in turn affects the scope and size of governmental spending. Even though the federal government can run a budget deficit by spending more than it receives in taxes, such as the example of the 2009 budget deficit of $1.4 trillion, this still represents a budgetary constraint as the borrowed money will need to be paid back, often with interest.
It's important to note that political considerations and legal constraints can affect both the government's ability to tax and spend, but they typically represent more rigid barriers for tax laws. Budgets and spending, however, can shift more dramatically due to policy decisions and unexpected events, making the government's spending power more variable and susceptible to external factors.