Federal budget deficitstry your hand at balancing the


(Federal Budget Deficits)Try your hand at balancing the federal budget by trying the National Budget Simulation at UC Berkeley's Center for Community Economic Research at https://www.budgetsim.org/nbs/.

a. Develop a budget and see what happens. Were you successful in balancing the budget? If not, how much of a deficit or surplus did you end up with? What does this exercise tell you about the process of creating a balanced budget?

b. Reexamine the budget cuts or increases you made. What problems would such changes pose for a politician facing reelection?

c. This budget simulator allows you only to change spending and tax expenditures over a one-year period. What problems does this pose to finding a realistic economic solution for balancing the budget?

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Econometrics: Federal budget deficitstry your hand at balancing the
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