1. ECONOMICS: April 12
Warm-up
What is the procedure for the federal budget to be approved once the President sends it to Congress?
Economics Learning Target
In order to understand how the federal government spends revenue, I will analyze federal government finances. I will know I have it when I can: (1) list the steps in the federal budget process; (2) place in rank order the major categories of federal government spending; (3) explain the causes of budget imbalances; (4) differentiate between budget deficits and the national debt; and (5) explain the impact of the national debt and how it is financed.
Finish Ch. 14, Lesson 2 reading guide (HO from yesterday)
-deficit and debt table -two potential ways to balance the budget
(TURN IN)
Closure
What is the difference between the deficit and the debt?
Assignment
Read ch. 14, sect. 3