Assignment task: In reference to the video "What we know about Congress' unusual solution to the debt ceiling disagreement" and Chapter 11 (Budget Execution) and 12 (Financial Mangement: Accounting, Reporting and Auditing) of "Lee, R. D., Johnson, R. W., & Joyce, P. G. (2021). Public Budgeting Systems (10th ed.). Burlington, MA: Jones & Bartlett Learning" respond to the following questions:
1. Describe the budget "deal" made by members of Congress.
2. In the long run, what problems/issues can the deal have on government services and on individual Americans? (hint: one of the issues involves raising the debt ceiling.)
3. What will the deal mean in terms of the federal deficit and debt reduction when government agencies/departments enter the "execution phase of the budget" (Ch. 11)?
References:
PBS NewsHour. (2021, December 7). What we know about Congress' unusual solution to the debt ceiling disagreement [Video]. YouTube.
Lee, R. D., Johnson, R. W., & Joyce, P. G. (2021). Public Budgeting Systems (10th ed.). Burlington, MA: Jones & Bartlett Learning.