How do youcalculateNationalDebtAccumulateddeficits -AccumulatedsurplusesDefineNationalDebt?what the federalgovernment owescreditors—includingdebt held by thepublic and federalgovernment trustfunds.What areImplicitLiabilities?Spending promisemade by thegovernment that areeffectively a debtdespite the fact thatthey are no includedin the usual debtstatistics.What isa debtspiral?DebtRatio=Debt/NomGDPWhat areactivestabilizationpolicies?True or false:Most economistbelieve thatrunning abalanced budget isbad thing to doevery year. They believerunning budgetdeficits in badyears, and offsetthem with budgetsurpluses in goodyearsWhenunemploymentrises, does thebudget deficitalso rise?What is abudgetdeficit?It is theopposite of apositivebudgetbalanceTheGovernmentspends halftheir budget onwhat twoprograms?SocialSecurity,HealthcareHow doescongresslimitDebt?DebtCeilingsTrue or false:Are Deficitsand Debt thesame?How Much isthe currentNationalDebt in theUS?31.5trillionWhat arecontractionaryfiscalpolicies?Free!What are thetwo areas thatgovernmentlargely spendsits tax revenueThings thatgovernmentspendsHow do youcalculateNationalDebtAccumulateddeficits -AccumulatedsurplusesDefineNationalDebt?what the federalgovernment owescreditors—includingdebt held by thepublic and federalgovernment trustfunds.What areImplicitLiabilities?Spending promisemade by thegovernment that areeffectively a debtdespite the fact thatthey are no includedin the usual debtstatistics.What isa debtspiral?DebtRatio=Debt/NomGDPWhat areactivestabilizationpolicies?True or false:Most economistbelieve thatrunning abalanced budget isbad thing to doevery year. They believerunning budgetdeficits in badyears, and offsetthem with budgetsurpluses in goodyearsWhenunemploymentrises, does thebudget deficitalso rise?What is abudgetdeficit?It is theopposite of apositivebudgetbalanceTheGovernmentspends halftheir budget onwhat twoprograms?SocialSecurity,HealthcareHow doescongresslimitDebt?DebtCeilingsTrue or false:Are Deficitsand Debt thesame?How Much isthe currentNationalDebt in theUS?31.5trillionWhat arecontractionaryfiscalpolicies?Free!What are thetwo areas thatgovernmentlargely spendsits tax revenueThings thatgovernmentspends

National Debt and Budget Deficit - Call List

(Print) Use this randomly generated list as your call list when playing the game. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.


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  1. G-Accumulated deficits - Accumulated surpluses
    G-How do you calculate National Debt
  2. I-what the federal government owes creditors—including debt held by the public and federal government trust funds.
    I-Define National Debt?
  3. I-Spending promise made by the government that are effectively a debt despite the fact that they are no included in the usual debt statistics.
    I-What are Implicit Liabilities?
  4. I-What is a debt spiral?
  5. G-Debt/Nom GDP
    G-Debt Ratio=
  6. N-What are active stabilization policies?
  7. N-They believe running budget deficits in bad years, and offset them with budget surpluses in good years
    N-True or false: Most economist believe that running a balanced budget is bad thing to do every year.
  8. G-When unemployment rises, does the budget deficit also rise?
  9. G-It is the opposite of a positive budget balance
    G-What is a budget deficit?
  10. I-Social Security, Healthcare
    I-The Government spends half their budget on what two programs?
  11. N-Debt Ceilings
    N-How does congress limit Debt?
  12. B-True or false: Are Deficits and Debt the same?
  13. B-31.5 trillion
    B-How Much is the current National Debt in the US?
  14. N-What are contractionary fiscal policies?
  15. B-Free!
  16. B-Things that government spends
    B-What are the two areas that government largely spends its tax revenue