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Essential Question : What is the current state of American deficit spending? PowerPoint PPT Presentation


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Essential Question : What is the current state of American deficit spending? . Government Revenues vs. Outlays . Where does the federal gov’t get its money & how does the gov’t spend it?

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Essential Question : What is the current state of American deficit spending?

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Essential question what is the current state of american deficit spending

  • Essential Question:

    • What is the current state of American deficit spending?


Government revenues vs outlays

Government Revenues vs. Outlays

  • Where does the federal gov’t get its money & how does the gov’t spend it?

    • The “Income Board” lists the four major ways in which the federal gov’t generates revenue to pay for programs

    • Working with a partner, guess what percent each of the 4 categories makes up of the total gov’t revenue

    • Also, take a guess as to how much total money the U.S. gov’t collected in 2012


Essential question what is the current state of american deficit spending

#3

$242 billion9.9%

#1

$1,132 billion46.2%

#2

$845 billion34.5%

#4

$229 billion9.4%


Essential question what is the current state of american deficit spending

In 2012, the U.S. gov’t collected $2.448 trillion


Government revenues vs outlays1

Government Revenues vs. Outlays

  • Where does the federal gov’t get its money & how does the gov’t spend it?

    • The “Spending Board” lists the nine major programs on which the federal gov’t spends money

    • Working with a partner, guess what percent each of the 9 categories makes up of the total gov’t spending

    • Also, take a guess as to how much total money the U.S. gov’t spent in 2012


Essential question what is the current state of american deficit spending

#3

$792.4 billion22.4%

#7

$103.3 billion2.9%

#6

$220.4 billion6.2%

#2

$811.7 billion22.9%

#4

$419.0 billion11.8%

#8

$57.2 billion1.6%

#1

$818.5 billion23.1%

#9

$43 billion1.2%

#5

$272.5 billion7.7%


Essential question what is the current state of american deficit spending

In 2012, the U.S. gov’t spent $3.538 trillion


The 2012 deficit

The 2012 Deficit

Gov’t Revenue (Income) $2.448 trillion

Gov’t Outlays (Spending) — $3.538 trillion

Gov’t Deficit = $1.09 trillion


The 2012 deficit1

The 2012 Deficit

Gov’t Revenue (Income) $2.448 trillion

Gov’t Outlays (Spending) $3.538 trillion

Gov’t Deficit = $1.09 trillion


Essential question what is the current state of american deficit spending

The federal deficit in 2012 was $1.09 trillion


Essential question what is the current state of american deficit spending

As of 2013, the National Debt is $16.8 trillion

http://www.usdebtclock.org/

How much is $16.8 trillion?


What is a trillion dollars

What is a trillion dollars?

A packet of one hundred $100 bills is less than 1/2″ thick and contains $10,000. Fits in your pocket easily and is more than enough for week or two of shamefully decadent fun.


Essential question what is the current state of american deficit spending

Believe it or not, this next little pile is $1 million dollars(100 packets of $10,000). You could stuff that into a grocery bag and walk around with it.


Essential question what is the current state of american deficit spending

While a measly $1 million looked a little unimpressive, $100 million is a little more respectable. It fits neatly on a standard pallet…


Essential question what is the current state of american deficit spending

And $1 BILLION dollars… now we’re really getting somewhere…


Essential question what is the current state of american deficit spending

Next we’ll look at one trillion dollars. This is that number we’ve been hearing so much about. What is a trillion dollars? It’s a million million. It’s a thousand billion. It’s a one followed by 12 zeros.


Essential question what is the current state of american deficit spending

  • Watch the documentary “I.O.U.S.A.”

    • As you watch the film, answer the questions provided

    • Be ready to discuss your answers after the video

Ch 2 Savings 13.30

Ch 3 Trade 17.05

Ch 4 Leader 22.00


Class discussion what are the consequences of an increasing federal deficit

Class Discussion:What are the consequences of an increasing federal deficit?


Essential question what is the current state of american deficit spending

Personal Finance: Saving and Investing Scenario

Alice is a 25-year-old who starts investing $5,000 a year in a mutual fund that earns 8% per year. Alice is only able to invest for 10 years. Alice adds nothing to her fund next 30 years except the 8% interest her money gains. She cashes out her fund when she turns 65.

Bob doesn’t start investing for a decade. Finally, when he turns 35 years old, he feels he has a good job and invests $5,000 a year every year for the next 30 years. Bob’s fund is identical to Alice’s and earns 8% per year. He cashes out his fund when he turns 65.

Who has more money at 65 years old?


Compound interest the good

Compound Interest: the Good


Essential question what is the current state of american deficit spending

Compound Interest: the Bad


Essential question what is the current state of american deficit spending

Avoiding Debt: Creating a Budget


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