Biden's $5.8 Trillion Budget Includes New Taxes on Rich

Biden's $5.8 Trillion Budget Includes New Taxes on Rich

Assessment

Interactive Video

Business, Social Studies

University

Hard

Created by

Wayground Content

FREE Resource

Dr. Jared Bernstein discusses the White House budget proposal, emphasizing its reflection of values such as fiscal responsibility, security, and inclusive growth. The budget aims to reduce the deficit significantly while addressing debt-to-GDP concerns through strategic investments. It also tackles inflation and interest rates, aligning with economic forecasts. A key focus is on tax fairness, asking billionaires and corporations to contribute more, ensuring spending boosts economic growth and sustainability.

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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary message conveyed by the budget according to Dr. Jared Bernstein?

An emphasis on increasing military spending

A statement of values including fiscal responsibility and inclusive growth

A plan to eliminate all national debt

A focus on reducing taxes for the wealthy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What significant achievement in fiscal year 2022 is highlighted in the discussion on fiscal responsibility?

A record decrease in the budget deficit

An increase in the national debt

A rise in unemployment rates

A reduction in healthcare spending

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does the budget plan to address the debt to GDP ratio?

By ignoring it completely

By cutting all social programs

By focusing on investments in the middle class and productive capacity

By increasing interest rates

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key factor in the budget's approach to managing debt service costs?

Increasing the national debt

Eliminating all government spending

Maintaining low interest rates

Raising taxes on the middle class

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does the budget address the issue of inflation?

By ignoring inflation forecasts

By aligning interest rate projections with private forecasters

By reducing all government spending

By increasing taxes on the middle class

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the budget's stance on tax fairness?

It proposes a flat tax rate for all

It plans to eliminate corporate taxes

It seeks to ensure billionaires pay their fair share

It aims to reduce taxes for billionaires

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the budget's approach to spending priorities?

Increasing military spending

Cutting all social services

Investing in infrastructure and productive capacity

Focusing on wasteful programs