Analyzing U.S. Debt The U.S. government has a variety of economic goals that it
Analyzing U.S. Debt The U.S. government has a variety of economic goals that it attempts to promote, and one of those goals is controlling debt and deficits, a goal that has gained much more importance recently and one which has garnered much more public awareness. The United States has had a long history of debts and deficits, and there are a variety of sources that track this debt. Exercise 1 Go to the U.S. National Debt Clock website at https://www.usdebtclock.org/ (Links to an external site.) and explore the data presented on the opening web page. What is the current federal debt at the time you viewed the clock? What is the federal debt per taxpayer? What is the U.S. trade deficit with China? Next, go to the website of U.S. federal debt timeline at https://www.debt.org/faqs/united-states-federal-debt-timeline/ (Links to an external site.) What is the average debt in trillions of dollars for the presidencies beginning with President Reagan and ending with President Trump? Write a summary about what you think this data means to the U.S.’s ability to sustain its historical spending habits. Exercise 1a Recently, the huge amount of federal debt, influenced in large part by federal stimulus funding program such as the CARES Act and the American Rescue Plan Act (covered later in the course), and a long history of debt even without the effects of a pandemic, has brought federal debt to the forefront of political concerns of most Americans. Let’s explore what you think about federal debt. Is having such a large federal debt really a bad thing? If the U.S. has been in debt since the end of the Civil War, why do you think it has become such an important issue now? If you think the debt is worrisome, what do you think should be done about it? Propose at least two solutions. Budget Deficit Simulation Because the concern over budget deficits has grown so much lately, it is relevant to introduce students to the idea of deficits and offer opportunities to make choices that might reduce or eliminate deficits and perhaps one day achieve a balanced budget. Exercise 2 Go to the Federal Budget Challenge web site provided by The Concord Coalition at https://www.federalbudgetchallenge.org/pages/overview Click Start Now. You’ll be ask some information in order to get into the challenge. Make it up if you’d like. You don’t have to use your actual info. For each of the spending and revenue categories that appear, read the brief narratives presented (pros and cons) and then check various boxes that reflect your preferences. Click Next to continue moving through the exercise. After Skipping categories or clicking Next to advance through the categories, you will be presented with a summary page of your decisions. At the top, print the summary page and submit it as the completion of Exercise 2. Guidelines Develop a short paper of at least 350 words to address all of the exercises shown in the assignment. Include appropriate section headings (i.e. Exercise 1, Exercise 2, etc.). Double-spaced, 12 pt font, 1” margins, no cover page, no reference page, name in header. Include proper grammar, be free of spelling errors, and where appropriate reflects critical thinking.

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