Question 1

Why may a budget surplus be considered undesirable?

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Question 2

Why may foreign ownership of U.S.debt be good for the United States? Why may foreign ownership of U.S.debt be bad for the United States?

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Question 3

What has contributed to the decline in discretionary outlays by the federal government?

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Question 4

Under the U.S.system of social insurance,the employer and employee generally each contribute half of the amount mandated by the government.In real economic terms,does each party actually contribute half?

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Question 5

Why should U.S.voters be skeptical of politicians who vow against deficit spending,while blaming opponents for the practice?

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Question 6

Why do the reported federal debt figures typically omit intragovernmental debt (debt that is owned by agencies of the government itself)?

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Question 7

How does a high marginal tax rate (such as the 90 percent rates experienced in the 1960s)affect an individual's decision making?

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Question 8

Even though Social Security and Medicare are popular and well-meaning programs,explain why they may distort economic incentives.

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Question 9

An aging population is cited as one of the reasons for future fiscal concerns for Social Security and Medicare.How might this demographic shift impact future revenue generation and the national debt?

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Question 10

How might a high demand for U.S.debt be a positive economic indicator for Americans?

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Question 11

Some economists argue that total debt levels aren't the most important consideration when evaluating the benefits and harms of national debt,that it's the relationship between interest payments and gross domestic product (GDP).How might that relationship be critical?

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Question 12

Discuss the following assertion: China owns the United States.

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Question 13

During economic downturns,particularly one like the Great Recession,it is common for the central government to ramp up spending in an effort to lessen the impacts.What do you think is the reasoning for this behavior?

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Question 14

Why is it generally accepted that any form of Social Security reform will be controversial?

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Quiz 28: Federal Budgets: the Tools of Fiscal Policy