1. Balancing the Federal Budget When, if ever, should the nation prioritize balancing the federal budget?

2. Political Cartoon “Budget Crunch” Analyze the political cartoon on the next slide to determine the message Describe what you see in the cartoon Explain what you think the cartoon means

4. Federal Budget Basics Revenue- amount of money taken in each year Expenditures- amount of money spent Budget is balanced when revenue = expenditures Surplus- takes in more money than it spends Deficit- spends more than it takes in Debt- accumulated deficit Scarcity- limit on resources Opportunity Cost- the cost of a missed chance to get the second-best alternative, the 2nd choice

5. Background on the debt Read the handout in the CWP shared folder titled “Background on the debt” Fill out the chart

6. Budget Hero Work individually or with a partner to play the game Budget Hero http://www.marketplace.org/topics/economy /budget-hero http://www.marketplace.org/topics/economy /budget-hero You do not need to enter in any of the personal information, just click on PLAY Explain how you did