1. The Government Budget, the Public Debt, and Social Security
Chapter 12
The Government Budget, the Public Debt, and Social Security

2. Figure 12-1 Two Alternative Paths of Consumption per Person
Copyright © 2003 by Pearson Education, Inc.

3. International Perspective The Debt-GDP Ratio: How Does the United States Compare?
Copyright © 2003 by Pearson Education, Inc.

4. Figure 12-2 The Ratio of U.S. Government Debt to GDP, 1790–2002

5. Figure 12-3 Federal Government Revenues and Expenditures as a Percent of Natural GDP, 1960–2001
Copyright © 2003 by Pearson Education, Inc.

6. Figure 12-4 Components of Federal Government Expenditures as a Percent of Natural GDP, 1959–2001
Copyright © 2003 by Pearson Education, Inc.

7. Figure 12-5 The Laffer Curve
Copyright © 2003 by Pearson Education, Inc.