DISCUSSION QUESTIONS - 10 TRILLION AND COUNTING ● What is a budget deficit? Spend more than you make ● What is total national debt? Over $11 trillion ● What are some reasons why the budget deficit and nonbudgeted spending have been adding more than $500 billion to the national debt in recent years? ● Name three countries that loan money to the U.S. government. What instruments do they receive to guarantee their loans? ● On several occasions, a balanced budget amendment has been proposed as law but not passed by Congress. What would be the advantages and disadvantages of having such a law? ● What was PAYGO? What happened to that policy, and how did it impact the budget deficit? ● According to Greg Ip of The Economist , President Bush's economic policy of cutting taxes and spending through borrowing was "politically smart" rather than "economically smart." Do you agree or disagree? Explain. ● What impact did spending for the wars in Iraq and Afghanistan have on the budget deficit?
- One '19
- Deficit, United States public debt