National Debt

The money that the government borrows and needs to pay back is called ________.

• Expenditures

• Income

• National Debt

• Exchange Rates

The government has to set one of these each year. It is a plan for how they will spend their money

• Checkbook

• Budget

• Monetary Policy

• Deficit

The US budget is funded by...

• Taxes

• Expenditures

• Income

• Debt

Which is not an example of something that the federal government spends money on (expense)

• Social Security

• Medicaid/Medicare

• Military/Foreign Aid

• Georgia Schools

Other than taxes, how can US citizens fund the national budget?

• Buying government bonds

• Tax evasion

• Writing a check

• By taking advantage of banking programs

Who does the government tax?

• Individuals and Businesses

• Other Countries

• Illegal Aliens

• Only US Citizens

How does the government get into debt?

• They run too many budget deficits

• They run too many budget surpluses

• Surpluses and deficits equal out

• Their surpluses are greater than their deficits.

What is a budget deficit?

• When the government goes over budget

• When the government stays under budget

What is a budget surplus?

• When the government goes over budget

• When the government stays under budget

Budget Surpluses do what to the national debt?

• Add to it

• Take away from it