http://budgethero.publicradio.org/widget/widget.php?refid=MKP#
http://www.usdebtclock.org/
http://research.stlouisfed.org/fred2/
http://www.nathannewman.org/nbs/
Use the links to the US debt clock, the St.Louis Fred, the national budget simulation, and the budget hero to identify problems and possible solutions to the fiscal problems of the US. Make sure to include current numbers from the Fed when you identify the national goals.
Part I
What is the current state of the US economy? Identify the four US national goals and what the US budget should be to maintain these goals.
Why does the US have a debt of over $15 trillion?
What was the US debt in 2000, 2004, 2008? What was the GDP during those years? What percent was the debt to the GDP in those years? Identify the trend.
Can the current annual deficits be continued indefinately into the future? How long can this trend continue according to the budget hero?
Identify three ways to balance the budget? How much revenue was lost with the Bush tax cuts. Should those tax cuts be allowed to lapse this summer? Why or why not?
Part II
Complete the budget hero, print out your budget.
Explain if you took a liberal, conservative or independent perspective in trying to balance the budget.
Explain what your goals are and how you met or did not meet them in the simulation.
Was your simulation politically feasible in today's climate? Could you be elected? Explain
Part III
Explain how you were or were not able balance the budget.
What if anything will you have to do to make your solution politically feasible?
If the US is to get the future budget under control, how will we do it?
Part IV
Opinion: are you optimistic or pessimistic about the future of dealing with the deficit and the US national goals? Explain your answer.
Paper length: 3-5 pages, excluding budget hero.
Due date: on or before May 21, 2012.
