Unformatted text preview: deficit over time. It was unsuccessful. Another proposal has been the line-item veto. Still another has been a constitutional amendment requiring a balanced budget. The concern over the deficit and therefore the debt stems from the problems which they may create. The extent of the problems which may be created is still being debated. Some of the "problems" addressed in this chapter include: 1) Can the U.S. government go broke? 2) Are we passing the debt burden to our children? 3) Does government borrowing crowd out private-sector spending. The reasons to worry and not to worry are discussed....
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This note was uploaded on 03/19/2011 for the course ECON 302 taught by Professor Wroee during the Spring '08 term at American River.
- Spring '08