Gathered Wednesday, 25 April 2012

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Presentation transcript:

Gathered Wednesday, 25 April 2012 Economic Graphs from the Congressional Budget Office, the Bureau of Labor Statistics, et al Gathered Wednesday, 25 April 2012

Terms Budget Deficit is when the government plans to spend more money than it took in in taxes. Congress formulates a new budget for every year. Tax Revenues – Spending = Budget surplus or deficit. National debt is the amount of money the United States has borrowed from other countries through selling Treasury bonds and other financial instruments.

Democrats: FDR, Truman, JFK, LBJ, Carter, Clinton, Obama Republicans: Eisenhower, Nixon, Ford, Reagan, Bush I, Bush II