Georgia State University - ECONOMICS 101DebtversusDeficit complete.

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Read the instructions to complete the 8 questions, assessment, AND extension activity. Assignment from https://www.econedlink.org/lesson/184/Role-Government-National-Debt-vs-Deficit The Role of Gove... rnment: The National Debt vs. The Deficit Process Read the article on Debt and Deficits and watch the videos, Budget Deficits and the Public Debt and What's Driving Up the Federal Debt? Then respond to the following questions/statements: 1. Define the national debt. National debt is total amount of debt that federal government of the country has accumulated over time. 2. What is the federal deficit? Federal deficit is amount of government expenditure exceeds the revenue in a particular year. 3. What is the difference between the national debt and the federal deficit? A federal deficit occurs when the government expenditure exceeds the budget, while a national debt is all of the money the federal government owes to bondholders and grows every year when there is a budget deficit. 4. Has the federal budget deficit increased or decreased in the past two years? The federal budget deficit has been increasing for the past two years, according to the graph provided by CBO based on their report on May, 2019. CBO reported that the increasing trend continued to 2020 with increased deficit by three times of the deficit in 2019, mainly due to the covid-19. 5. Did the United States have a federal deficit or surplus in 2015? How much? U.S. in 2015 had federal deficit by $435 billion since the total revenues were #3.249 trillion and total spending was $3.685 trillion. https://www.coursehero.com/file/71903408/DebtversusDeficit-completedoc/ This study resource was [Show More]

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