Exam3Online

You have two attempts.

This exam has 15 multiple choice questions and 6 short answer ones.  You should do a little research on one of the questions before starting the exam. This is that question:

Q21. Consider that we all interpret the world through the political/cultural/religious lenses that we have typically inherited from our parents and where we grew up. That is, we all bring bias to our worldview. One of those biases is related to the economy and the role of government. One thing that republicans and democrats tend to interpret differently is the national debt.  The national debt has grown from $1 Trillion in 1980 to approximately $30 Trillion in 2022.  I would like you to take an objective look at the timeline of the national debt during that period....who was in office and what was going on in the economy and the world.  

1. Your task: briefly summarize the drivers of the debt.

From your political perspective:

2. Do you think that the accumulation of debt from the deficits incurred each year was justified at the time? 

3. Pick a president in office during that time period that you identify with (or maybe you remember your parents identifying with). Why did that president not reduce the debt?

4. How does the debt affect your expectations for your economic future?

Some sources ( but use whatever sources you wish)

https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296

https://www.thebalance.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287