What it is and from where it came.

Grade 9 Economics 6.1.9.D 6.2.9.H 6.2.9.J 6.2.9.L 6.3.9.E

Grade 12 Economics 6.1.12.D 6.2.12.F 6.2.12.H 6.2.12.J 6.2.12.L 6.3.12.E

Civics and Government 5.3.C.A 5.3.C.B 5.3.C.C 5.3.C.D

Grade 12 Civics and Government 5.3.12.A 5.3.12.C 5.3.12.D

1. January 1 to December 31

2. July 1 to June 303. October 1 to

September 304. September 1 to

October 31

1. Statement of federal profit and loss

2. Statement of federal expenditures and revenues

3. Statement of federal income tax revenues

4. Statement of liability of federal borrowing

True

False

50%50%1. True2. False

1. Is balanced2. Has a budget

surplus3. Has a budget

deficit4. Needs

Congressional approval

1. Is the result of all the yearly budget deficits

2. Is the direct liability of the US Government

3. Is largely the result of war, recession and inflation

4. All of the above

Confiscation

Cutting non-w

ar spending

Printing m

oney

Borrowing

Incre

asing T

axes

0% 0% 0%0%0%

1. Confiscation2. Cutting non-war

spending3. Printing money4. Borrowing5. Increasing

Taxes

1. True2. False

1. Selling Treasury Bills (T-Bills) -sold for 1 year or less; they do not pay interest

until maturity and are sold at a discount of par value

2. Selling Treasury Bonds (T-Notes)-mature in 1 to 10 years, have a coupon payment

every six months, and have denominations of $1,000

3. Selling Savings Bonds (T-Bonds)-maturity from 20 to 30 years, have a

coupon payment every six months like T-Notes, and are commonly issued with maturity of 30 years.

1. Social Security and Medicare Trust Funds and Federal Reserve = 41%

2. China + Japan = 15%3. Other countries and organizations

http://www.facethefactsusa.org/facts/who-holds-the-note-look-in-the-mirror-infographic/

A: Here is a pie chart showing the makeup, or ownership, of the National Debt as of December 1998.

True

False

50%50%1. True2. False

True

False

50%50%1. True2. False

1. 1940-19452. 1965-19703. 1985-19904. 2000-2005

Yes N

o

50%50%1. Yes2. No

True

False

50%50%1. True2. False

1. True2. False

1. The US would not be able to pay its bills.

2. The US would not be able to use borrowed funds to pay its bills.

3. The US may default on its credit obligations.

4. Nothing

True

False

50%50%1. True2. False

Yes N

o

50%50%1. Yes2. No

True

False

50%50%1. True2. False

The War f

or Independence

The Civil War

World

War I

World

War I

I

25% 25%25%25%1. The War for Independence

2. The Civil War3. World War I4. World War II

The Federal

Gove

rnment..

.

The states t

ake ove

r the...

Individuals

who buy bon..

Printing m

oney to pay of..

.

25% 25%25%25%1. The Federal Government takes over the debts of the states

2. The states take over the debts of the Federal Government

3. Individuals who buy bonds take over the national debt

4. Printing money to pay off debt

www.usdebtclock.org

What would you do? www.nathannewman.org/nbs/ www.marketplace.org/topics/economy/budget-hero