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lectur1-page9 - Well you are going to get your chance at...

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During the first few weeks of class, we will discuss some very general economic principles, and then tackle some macroeconomic concepts, and popular issues such as a balanced federal budget. We hear folks complain all the time about the federal budget, and suggest that balancing that budget is very simple. We also hear folks talking about how they do not understand how the government can spend more money than it brings in through tax revenues.
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Unformatted text preview: Well, you are going to get your chance at balancing the federal budget. We will also discuss public debt, such as the federal deficit and the national debt, and compare that to the nation’s private debt. Private debt is the amount of money most of you and I owe on credit cards, auto loans, mortgages, etc. We will find that many of our fellow citizens have difficulty balancing their own budgets. 9...
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