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Citizenship

The document provides instructions for an activity where students will work together on an online budget simulation to try to stabilize the US budget. It discusses key budget concepts like fiscal policy, the deficit, debt, revenue, and expenditures. It has the students log onto a simulation, consider the economic and political impacts of their choices, and require partner agreement on changes. After completing the simulation, students are asked to analyze their results, the short and long term economic effects, which groups benefit or lose from their decisions, and if their choices would get them reelected.

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49 views3 pages

Citizenship

The document provides instructions for an activity where students will work together on an online budget simulation to try to stabilize the US budget. It discusses key budget concepts like fiscal policy, the deficit, debt, revenue, and expenditures. It has the students log onto a simulation, consider the economic and political impacts of their choices, and require partner agreement on changes. After completing the simulation, students are asked to analyze their results, the short and long term economic effects, which groups benefit or lose from their decisions, and if their choices would get them reelected.

Uploaded by

api-97353646
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Citizenship

Mr. Ducklow For this activity, you and a classmate are going to work together to see if you can stabilize Americas Budget. You will use an online simulation provided by an organization called Citizens For a Responsible Federal Budget. Some general budget facts/terminology to remember before you start: Fiscal Policy: Taxing and Spending powers of the Congress and President. Budget Deficit: When expenditures are greater than revenues for a budget year. National Debt: Accumulated deficits of the nation Revenue: Money being collected by the government; income taxes are the largest source of federal revenue. Expenditure: Money being spent by the government on programs and services. In the black: a condition of profitability; or in budgeting, a budget saving decision. In the red: a condition of loss or shortfall; or in budgeting, a decision that costs money or adds to a deficit. 1. Log onto the following site: http://crfb.org/stabilizethedebt/

2. As you work through the simulation, you must consider the following: a. Economics: How will your choices affect the economy in the short and long-run? b. Politics: What segments of the population wins and loses by your choices? c. The #1 goal of a politician is to get re-elected. Can you defend your choices with the electorate? 3. To demonstrate the politics behind the budget, you and your partner must both agree before making a change. If you cannot agree, you may not make the change. You can click for more information to read some background before making a choice. 4. When you are all finished, print your budget. Analyze the results and write a reaction to your experience. Answer the questions below: a. Evaluate your decisions. How successful were you in your effort to balance the budget? Explain. b. How will your decisions effect the economy in the short and long-run? c. What segments of the population win and lose by your decisions? Is this fair? Justify it. d. Do you think your decisions would get you re-elected? Why or why not? e. Was your approach to balancing the budget more conservative or more liberal? Explain why you think so. Extension

From Wikipedia: The National Commission on Fiscal Responsibility and Reform (often called BowlesSimpson/Simpson-Bowles from the names of co-chairs Alan Simpson and Erskine Bowles; or NCFRR) is a Presidential Commission created in 2010 by President Barack Obama to identify "policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run."[1] The commission first met on April 27, 2010.[2] A report was released on December 1, 2010,[3] but failed a vote on December 3 with 11 of 18 votes in favor, with a supermajority of 14 votes needed to formally endorse the blueprint.[4] Click the link below to read the highlights of the Deficit Super Committees recommendations. After evaluating the proposals, evaluate the overall program. http://tpmdc.talkingpointsmemo.com/2010/11/deficit-commission-co-chairs-simpson-and-bowlesrelease-eye-popping-recommendations.php Evaluate the Super Committee Proposal. Ideas I could support Ideas I cant support

If you had been part of the bi-partisan Super Committee, how would you have voted? Why? Elaborate and specify.

Click here http://www.usdebtclock.org/ Navigate through the various clocks. Any reactions?

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