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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Do you agree or disagree with this statement: “It is in the best interest of our economy for Congress and the President to run a balanced budget each year.” Explain your answer.

To determine

To write: Whether a balanced budget is in the best interests of the economy

Explanation

As a supporter of mandate balanced Budget, these are below points that are needed to be mentioned:

  1. A mandated balanced budget would force fiscal responsibility in the same way as households and businesses do for their own.
  2. Foreign own bond represents vulnerability which need to be controlled to avoid future debt crisis and this will be controlled by the balanced budget...

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