This video teaches the concepts of Budget Deficits and Public Debt. If taxes collected are less than the money spent in a given year, the government has a budget deficit. When a budget deficit occurs, the government borrows the money that it needs to finance its expenditures. For example, the U.S. government borrows by issuing Treasury bonds.
OTHER RELATED LESSONS
This lesson provides an introduction and an overview of the Budget Control Act of 2011. Students will be given information about the legislation and presented with different proposals for dealing with the long-term deficit problem of the United States.
This lesson will take students through the series of tax acts that were enacted by the British government and disputed by the original 13 colonies of America prior to the American Revolution. Students will discuss the concept of government-provided services in exchange for taxes. Students w...
Grades 3-5, 6-8
Students will visit “A Citizen’s Guide to the Federal Budget,” and use the federal government web site to obtain information which will help them understand basic information about the budget of the United States Government for the current fiscal year.
This lesson defines and compares the National Debt with the National Deficit. Students will discover the differences between the two and look at current trends. Students will examine the amount of per-capita debt and be exposed to the reality of the amount the national debt is increasing every d...
During his campaign for governor of the State of Minnesota, former professional wrestler Jesse "The Body" Ventura, promised to return to the taxpayers of Minnesota the budget surpluses that had been accumulating in the state. Upon assuming office, Ventura revealed that the budget surplus had been...