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1. What is the difference between deficit and debt? 2. What is happening to the gross federal debt over time? 3. What years saw a very small increase in debt?

1. What is the difference between deficit and debt? 2. What is happening to the gross federal debt over time? 3. What years saw a very small increase in debt?

ECON MACRO
ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter12: Federal Budgets And Public Policy
Section: Chapter Questions
Problem 2.4P
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22.000 20,000 18,000 16,000- 14,000- 12,000 10,000 W000- 6000- 4000 2000- 0 Gross Federal Debe (billions of dollars) (b) 400 2001 0. -200 c) Who was president at that time? -400 -600- 7. How much is the deficit in 2022? -800- -1000- -1200- -1400- -1600 1. What is the difference between deficit and debt? 3. What years saw a very small increase in debt? 2. What is happening to the gross federal debt over time? 4. When did the debt start rising at a quicker pace? Surplus or Deficit (billions of dollars) Positive values are serpluses Negative values are deficits. 5. a) Between what years did the government see a surplus in their budget? b) How is that shown in the gross federal debt graph? (a) 6. a) What year saw the biggest deficit? b) Who was president in that year? c) How do you think he lowered the deficit over the next few years?
Transcribed Image Text:22.000 20,000 18,000 16,000- 14,000- 12,000 10,000 W000- 6000- 4000 2000- 0 Gross Federal Debe (billions of dollars) (b) 400 2001 0. -200 c) Who was president at that time? -400 -600- 7. How much is the deficit in 2022? -800- -1000- -1200- -1400- -1600 1. What is the difference between deficit and debt? 3. What years saw a very small increase in debt? 2. What is happening to the gross federal debt over time? 4. When did the debt start rising at a quicker pace? Surplus or Deficit (billions of dollars) Positive values are serpluses Negative values are deficits. 5. a) Between what years did the government see a surplus in their budget? b) How is that shown in the gross federal debt graph? (a) 6. a) What year saw the biggest deficit? b) Who was president in that year? c) How do you think he lowered the deficit over the next few years?
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