Discuss the relationship between the national economy and
- Discuss the relationship between the national economy and national government fiscal activity. Include in your discussion the government’s role as a distributor of scarce public resources.
- Discuss the roles of the president and Congress in budget determination. When did the president get a role, and why was the president given executive budget authority?
- Why is incremental budget making not used as often as it once was?
- Explain the relationship among monetary and credit controls, budgeting, and “power politics.”
- What are the possible consequences for the national economy of increased annual deficits, cumulative debt, and threats to not raise the debt ceiling?