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Define fiscal policy. Include the goals and tools of fiscal policy and the entity that controls it. The fiscal policy has to do with the governments earnings and spending. Taxes and spending are some of the key points. The goal of this policy is to make businesses produce more and creating a higher demand. Compare and contrast fiscal and monetary policy. How are they alike and how do they differ? In comparison the two policies buy or sell government securities to control money supply. However in difference the fiscal policy is controlled by the president and congress and they deal with taxes and government spending. Should the government create a law mandating a balanced federal budget? Support your position with evidence from the lesson. I would highly suggest that the government create a law mandating a balanced federal budget cause that would help prevent us from going into debt. Part Two Scenario 1: The government is currently spending three billion, one hundred million on programs and brings in three billion, five hundred million through taxation.