Question: Try your hand at stabilizing the U.S. debt by using Committee for a Responsible Federal Budget Simulation at http://crfb.org/stabilizethedebt/ . Read through the Intro and

Try your hand at stabilizing the U.S. debt by using Committee for a Responsible Federal Budget Simulation athttp://crfb.org/stabilizethedebt/. Read through the "Intro" and click "Next" in order to follow the simulation instructions. Answer the following questions once you have completed the simulation:

  1. Were you successful in stabilizing the U.S. debt? If not, how much of a deficit or surplus did you end up with? What does this exercise tell you about the process of creating a budget plan?
  2. Reexamine the budget cuts or increases you made. What problems would such changes pose for a politician facing reelection?
  3. This budget simulator allows you only to change spending and tax expenditures over a one-year period. This poses what problems to finding a realistic economic solution?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!