To become familiar with the sources of economic information that are important to business decision makers?

Chapter 2 – CRITICAL THINKING EXERCISE: BALANCING THE FEDERAL BUDGET

Purpose

To become familiar with the sources of economic information that are important to business decision makers?

Helpful Resources (READ):

• Amadeo, Kimberly. “U.S. Federal Budget Breakdown: The Budget Components and Impact on the US Economy.” the balance. 2017. com/u-s-federal-budget-breakdown-3305789” class=”external” target=”_blank” rel=”noreferrer noopener”>https://www.thebalance.com/u-s-federal-budget-breakdown-3305789 (Links to an external site.)
• Dorfman, Jeffrey. Contributer. “Balancing the Federal Budget: So Easy a Class of College Students Can Do It.” Forbes/Opinion. 2013. https://www.forbes.com/sites/jeffreydorfman/2013/12/05/balancing-the-federal-budget-so-easy-a-class-of-college-students-can-do-it/#1483a2ee3cde (Links to an external site.)
• U.S. Government. A New Foundation for American Greatness: Fiscal Year 2018. Office of Management and Budget. 2017. gov/sites/whitehouse.gov/files/omb/budget/fy2018/budget.pdf” class=”external” target=”_blank” rel=”noreferrer noopener”>https://www.whitehouse.gov/sites/whitehouse.gov/files/omb/budget/fy2018/budget.pdf (Links to an external site.)

Assignment Instructions:

The Federal government’s historical budget deficit is discussed and debated endlessly. Everyone has an opinion on how to balance the budget.

1. Click here (Links to an external site.) to view the REAL TIME current National Debt Clock located at http://www.usdebtclock.org/ (Links to an external site.)
2. Download the attached Excel spreadsheet which contains the actual budget figures from the Summary Table S-4 through S-6 Proposed Budget by Category Fiscal Year 2018 Budget.
3. Rearrange the figures to eliminate the deficit and balance the budget. You can either cut money going out or increase money coming in, but interest payments on the national debt cannot be adjusted.
4. On a separate Word document, explain your reasons for the changes you’ve made in receipts and outlay using valid evidence/justifications.
5. Cite sources from your textbook or valid sources from the Internet.
6. Save the completed document(s) using the following format: Lastname_Firstname_Ch2-CTE (For example: Carcioppolo_Joann_Ch2-CTE)

Submission Instructions:

• Upload the budget assignment file as a Microsoft Excel spreadsheet, and click submit.
• Upload the explanation file as a Microsoft Word file, and click submit.

Canvas Student Guides:

• How do I submit an online assignment? https://community.canvaslms.com/docs/DOC-9539-421241972 (Links to an external site.)
• How do I upload a file as an assignment submission in Canvas? https://community.canvaslms.com/docs/DOC-10663-421254353 (Links to an external site.)
• How do I know when my instructor has graded my assignment? https://community.canvaslms.com/docs/DOC-10664-421254358 (Links to an external site.)

Grading Rubric:

The Grading Rubric will be visible below.

Attachment(s):

• Chapter 2 – Balancing the Federal Budget Instructions
• Chapter 2 Activity (Spreadsheet) – Balancing the Proposed Federal Budget.xlsx
• Balancing The Federal Budget_ So Easy A Class Of College Students Can Do It (Dorfman 2013).pdf

Rubric

Chapter 2-Balancing the Federal Budget