READ AND REPLY
Is the legal cap that Congress sets on the amount that the Treasury can borrow. Furthermore, it does not authorize any new expenditure; it simply lets the government pay for what Congress has approved. This has caused many problems in American history.
Based on the material we covered so far, and the information on this TED talk, should the government focus on becoming more efficient with the federal budget? Should more though be put in place in how to use tax revenues? Should a due diligence be implemented to find areas where costs could be cut without reducing the services delivered by the government to the citizens? Explain Why in detail (offer at least one quote from the video, offer evidence/ data, provide sources and use economics vocabulary you learned during this courses) Which are the consequences of keep raising our federal debt?
