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Questions:“Ten Trillion and Counting”1.What is a budget deficit?2.What is total national debt?3.What are some reasons why the budget deficit and nonbudgeted spending havebeen adding more than $500 billion to the national debt in recent years?4.Name three countries that loan money to the U.S. government. What instrumentsdo they receive to guarantee their loans?5.On several occasions, a balanced budget amendment has been proposed as lawbut not passed by Congress. What would be the advantages and disadvantages ofhaving such a law?6.What was PAYGO? What happened to that policy, and how did it impact thebudget deficit?7.According to Greg Ip ofThe Economist, President Bush's economic policy ofcutting taxes and spending through borrowing was "politically smart" rather than"economically smart." Do you agree or disagree? Explain.8.How did the U.S. government pay for the wars in Afghanistan and Iraq?9.What impact did spending for the wars in Iraq and Afghanistan have on thebudget deficit?10.When compared to other countries, to what extent is the U.S. debt compared as a
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Deficit,United States Congress,budget deficit,United States public debt