Chapter 16: Government Spends, Collects, and Owes
"Deficit and Debt"
Introduction
A budget deficit, as you learned
in this chapter, occurs when government spending exceeds revenues.
Between 1998 and 2001 the United States operated with a surplus
rather than a deficit of funds. This turn of events, however,
has not been typical of much of the nation's recent history,
and the national debt continues to be an issue. How are budget
deficits tied to the national debt, and how do surpluses affect
our economy? Citizens can gain a better understanding of how
the federal government allocates tax dollars in preparing
the federal budget by going to the United States Office of
Management and Budget Web site.
Destination Title: United
States Office of Management and Budget Web site
Note: Clicking on the link above will launch a new browser
window.
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Directions
Start at the Office of Management and Budget Web site.
- Click on the link indicated for the
most recent budget year.
- Scroll down and click on "Budget of
the United States Government."
- Scroll down and click on "Charting a
Course for the Federal Budget."
- Browse through the site, taking notes
as you go.
Read through the information, and then
answer the following questions.
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