7.3 Debt v Deficit

7.3 Debt v Deficit

Multiple Choice

"Total amount of $ owed"

• Revenue

• Credit

• Debt

Multiple Choice

"How much you overspend when making the federal budget"

• Deficit

• Taxes

• Credit

Multiple Choice

How does the government "borrow" money?

• Selling bonds

• Investing in the stock market

• Getting a line of credit from the bank

Multiple Choice

The deficit is the $ that the government OVERSPENDS each year in their budget. How does it relate to the DEBT?

• Deficit spending adds to the total debt every year.

• Deficit spending reduces the debt every year.

• Deficit is the same as debt.

Multiple Choice

What is the debt today? (approximately)

• $22 Trillion

• $3.56 Billion

• $1.54 Trillion

Multiple Choice

According to the last slide, the biggest debt of the US government is paying social security.

• True

• False

Open Ended

Study the last slide. Form your own opinion and write a sentence telling what you think.