Conceptual Problem 1: A) To what extent do we need to worry about the component of our total deficit that consists of interest payments on the public debt? (Hint: ask yourself how much of this component is a real cost to the government.)B) To what extent do we need to worry about the national debt? In what way or ways is it a burden on society?

Conceptual Problem 2: Should we require that the budget be balanced? Discuss.