After lecture and notes on the federal budget view
abcnews.news examines the history of the federal deficit
I. Go to http://www.whitehouse.gov/omb/budget. click on explore the budget and see how your tax dollars are spent. Answer the follow questions:
1. In what area is most of our tax dollars spent?
2. What % is spent on social security?
a. What is social security? (research this before you answer)
3. What % is spent on highways & mass transit?
4. How much is spent on Defense?
5. What is Medicare?
a. what % of our budget does it consume?
6. What % is spent on college financial aid?
7. What % do we spend on international (foreign ) aid?
II. Read Hard Choices: Pres. Obama's 2012 budget.
In a paragraph describe what these hard choices are. Give specifics.
III. Go to National Budget Simulator -
attempt to balance the budget.
In a paragraph summarize your actions, problems, successes and possible implications of your new budget.
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