Fiscal Policy Checkpoint Discussion
Fiscal Policy Checkpoint Discussion
Can Congress and the President Ever Balance the Federal Budget?
Due Date: Day 3 [post in the appropriate place in Post a CheckPoint Assignment]
Read: the description of public choice theory: “Public choice – Definition” at http://www.wordiq.com/definition/Public_choice. If you need more information, check out: “Public Choice” at http://www.econlib.org/library/Enc/PublicChoice.ht… and/or “Public Choice Theory” at http://www.econlib.org/library/Enc1/PublicChoiceTh…
Read: “Why Congress’s Bipartisan Budget Deal Should Make Trump Worried“: at https://www.nytimes.com/2017/05/01/us/politics/con… and “Congress strikes budget deal that shortchanges Trump“ at https://www.politico.com/story/2017/04/30/budget-d…
Watch: ” John Stossel – The Money Hole” at or “The Money Hole” by John Stossel, parts 1, 2, and 3” at
Read: You may want to read the following articles about the recent debt ceiling crises: “The Federal Deficit Mess—Posner” at http://www.becker-posner-blog.com/2011/07/the-federal-deficit-messposner.html; and “Short and Long Term United States Fiscal Crises-Becker: at http://www.becker-posner-blog.com/2011/07/short-and-long-term-united-states-fiscal-crises-becker.html; “The Depression, the Deficit Debacle, and the Debt-Ceiling Crisis—Posner” at http://www.becker-posner-blog.com/2011/08/the-depression-the-deficit-debacle-and-the-debt-ceiling-crisisposner.html; “Immediate and Medium Term Debt and Deficit Problems-Becker” at http://www.becker-posner-blog.com/2011/08/immediat…
Read: You may also want to read: “Fiscal reform – Why we’re hosed” at http://www.economist.com/blogs/democracyinamerica/…
Post: your answers to the following questions:
- Using Public Choice Theory, explain why it is so difficult for Congress to reduce the budget deficit.
- Would you have supported President Trump’s budget or would you have supported the one that passed the Congress in 2017?
- Carefully explain why.
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