The federal deficit and debt
Q1). Federal Debt and Deficit
The federal deficit and debt are the focus of ongoing political debate that contributes to ongoing gridlock in Congress. What is really going on?
a) Define the deficit and the debt. How are they different? How do they relate?
Visit the website http://www.usdebtclock.org/index.html and answer the below questions:
b) What is the debt per citizen? Will we ever have to pay this ourselves?
c) What are the largest budget items that are contributing to our expenses?
d) How much of our debt is composed of interest payments on the debt?
Examine the cumulative impact of deficit-spending by studying the debt.
At the same website, look at the National Debt.
e) As of today, what is today’s national debt?
Next, to learn about the deficit, visit the http://www.usgovernmentdebt.us/federal_deficit.
f) What was the annual federal deficit over the past 5 years? What is it this year?
Review the website, including the history of the deficit over the past century.
g) What contributes to the deficit?
h) What is the risk of running deficits?
Q2). Employment and Wages
The Labor Department’s Bureau of Labor Statistics is the primary agency responsible for collecting data on employment and unemployment. Click on http://www.bls.gov/data/. This is a website that enables you to review a variety of data on the economy.
Click on the link for “Employment” at the top. A variety of tables can be viewed.
Click the first box under “Top Picks” and you will see a variety of tables that can be generated.
Select the boxes next to the table: “Manufacturing Employment.” Then at the bottom, hit “retrieve data.”
i) Review one month over the past 10 years. What is the trend in manufacturing jobs nationally?
Return to the starting website and review data on the unemployment rate.
j) What is the current unemployment rate?
k) What has been the unemployment rate in your area in the past 5 years?
l) What are the rates in various states (5) around the United States in the past 5 years?
