1. Warm up If I gave you $856,000.00, what would you do with it.

2. Train a Mountain lion to walk on a tread mill?

3. Establishing the Federal Budget Ch 10 sec 2

4. The federal budget consists of (1) mandatory spending, which includes interest payments on borrowed money, Social Security, and medicare (two-thirds of the budget); and (2) discretionary spending, which includes programs that Congress must approve annually (one-third of the budget).

7. 2007 Federal Budget Pie Chart

10. National debt clock runs out of digits! NEW YORK – In a sign of the times, the in has run out of digits to record the growing figure. As a short-term fix, the digital dollar sign on the billboard-style clock near has been switched to a figure — the "1" in $10 trillion. It's marking the federal government's current debt at about $10.2 trillion. The says it plans to update the sign next year by adding two digits. That will make it capable of tracking debt up to a quadrillion dollars. The late Manhattan real estate developer Seymour Durst put the sign up in 1989 to call attention to what was then a $2.7 trillion debt. Wed Oct 8, 2008 10:03 pm ET

11. National Debt Clock http://zfacts.com/p/461.html

12. Fiscal Year The government’s fiscal year is from October 1 to September 30.

13. The Federal Budget Process Sometimes referred to as the “Budget Battle”-Why?

14. Major Spending Categories Mandatory spending categories include: Social Security; income security; Medicare; interest on the federal debt; some health programs; and veterans’ benefits. Discretionary spending categories include: education, employment, social services, transportation, administration of justice, natural resources, and the environment.

15. Which Type of spending will get cut first-Why?