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Chapter 10 Government Spending

Chapter 10 Government Spending. Four Horsemen of the Economic Apocalypse. Deficits / Debt Social security & Medicare trust fund Consumer & Corporate debt Trade Deficits. How are the National budget, deficit and debt measured?. GAAC (Generally Accepted Accounting Procedures) are NOT used.

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Chapter 10 Government Spending

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  1. Chapter 10Government Spending

  2. Four Horsemen of the Economic Apocalypse Deficits / Debt Social security & Medicare trust fund Consumer & Corporate debt Trade Deficits

  3. How are the National budget, deficit and debt measured? GAAC (Generally Accepted Accounting Procedures) are NOT used. The Social Security Trust Fund is added to the General Budget, to be spent, instead of being set aside for the future (as pension funds are). Textbook phrase, “We owe the debt to ourselves,” is not quite accurate. We owe this debt to our children and grandchildren, and don’t appear to have any intention of paying it back. This means our descendents will have little or no Social Security or Medicare (though they will pay for ours).

  4. Four Horsemen of the Environmental Apocalypse Global warming / oil Disappearing forests Factory farming for 8 billion people Overpopulation Radioactive waste Water supply Damming rivers

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