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

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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I I
  1. G-It is the opposite of a positive budget balance
    G-What is a budget deficit?
  2. N-Debt Ceilings
    N-How does congress limit 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. B-True or false: Are Deficits and Debt the same?
  5. G-Debt/Nom GDP
    G-Debt Ratio=
  6. B-31.5 trillion
    B-How Much is the current National Debt in the US?
  7. G-Accumulated deficits - Accumulated surpluses
    G-How do you calculate National Debt
  8. B-Free!
  9. I-What is a debt spiral?
  10. G-When unemployment rises, does the budget deficit also rise?
  11. I-what the federal government owes creditors—including debt held by the public and federal government trust funds.
    I-Define National Debt?
  12. 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.
  13. N-What are contractionary fiscal policies?
  14. B-Things that government spends
    B-What are the two areas that government largely spends its tax revenue
  15. N-What are active stabilization policies?
  16. I-Social Security, Healthcare
    I-The Government spends half their budget on what two programs?