Problem 1) What is the current US Federal Budget is (2006). What are the major categories of expenditures? What has changed since 2005? Why?
Problem 2) What is the current US Federal deficit is. How has it changed since 2005? Why?
Problem 3) Increases in real GDP are often interpreted as increases in welfare. What are some problems with this interpretation? Which do you think is the biggest problem with it, and why?