ECONOMICS: November 5 Learning Target #1

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ECONOMICS: November 5 Learning Target #1 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) (TURN IN) Debt Clock -#14, #16, #17, and #22 Economics Learning Target #2 In order to understand how the government collects revenue and how it is spent, I will analyze state and local taxation. I will know I have it when I can convert data from bar graphs to pie charts to illustrate the top few categories of state and local government revenue and expenditures. --14-3 state and local government pie charts (HO) (make pieces in % proportions, and labeled by type & %) --property and sales taxes (3rd only) Closure What is the difference between the deficit and the debt? Assignment Read Ch. 15, Lesson 1