1. Economic Crisis Federal Budgets and Public Policy March 28, 2009

2. Economy Today http://www.bea.gov/national/index.htmftp://ftp.bls.gov/pub/special.requests/cpi/cpiai.txt http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=economic_indicators&docid=f:00de08.txt.pdf

3. President’s Budget http://www.whitehouse.gov/omb/assets/fy2010_new_era/Summary_Tables2.pdf Deficit... 459 1,752 1,171 912 581

4. CBO Update http://www.cbo.gov/ftpdocs/100xx/doc10014/03-20-PresidentBudget.pdf CBO’s baseline projections of the deficit have risen by more than $400 billion in both 2009 and 2010 and by smaller amounts thereafter.

5. Deficit Estimates http://www.cbo.gov/ftpdocs/100xx/doc10014/03-20-PresidentBudget.pdf

6. Deficit Financing

7. Discussion Why Congressional Republicans are raising an alarm about the projected increase in deficits? Why many economists believe deficits are necessary in the short run? How do deficits affect the economic performance in the long run?