Budget Deficits and Debt
Answer the following short essay questions about U.S. fiscal policy. While this is not a paper, you must still properly cite your answer and write in full sentences.
- How large is the current U.S. budget deficit and how has it changed over the last few years?
- What is the total amount of U.S. debt and how has this changed in the last few years? Who holds this debt?
- How does the current administration propose reducing the national debt? Do you think this plan is economically sound and achievable?
- What are the potential economic consequences (short and long run) of large budget deficits/debt?
- How have recent spending cuts impacted the economy?
- What additional/different spending cuts would you recommend and why?