In this project, you and your group will analyze the broad strokes of
either the Federal or State Budget.
First, make sure that you identify:
- the major sources of revenue, including the various types of
taxes that are in place and the specific percentages of revenue
generated by each type of tax
- major categories and types of spending (i.e. Social Security:
Mandatory, Defense: Discretionary, Medicare: Mandatory, Education:
Discretionary, etc.)
- the current state of the budget (total revenue, total spending,
surplus/defecit?)
Next, analyze the current situation and identify possible solutions for
creating a healthier federal/state budget:
- How should the tax structure be modified? What new taxes do
we need? What taxes should we reduce or eliminate?
- How should we change our spending priorities? What areas
can we afford to reduce? How will we reduce them? Are there
areas in which we need to spend more? Why?
- Are there parts of this process that can be changed to stimulate
the economy and bring in more revenue? (more economic activity usually
means more tax revenue)
You might find it easier to just make sure you are answering these
questions:
- What kinds of taxes does the federal/state government use to
generate revenue?
- Who pays most of these taxes? Why? Is this the best way to
generate revenue?
- What specific things would you change about the tax structure?
- How does the federal/state government spend its money? (what are
the major categories, departments, etc.)
- How much of this spending is mandatory?
Discretionary? How much goes to service our debt?
- In your opinion, do our spending priorities match our national
priorities? If so, why? If not, what would you change?
You need to summarize all of
your above finings in a PPT presentation. Be sure to include
charts, graphs, and other visuals.
Resources: