fiscal responsibility

Over at the CBO Director's Blog, discussion centers around the advantages and disadvantages of implementing a capital budget at the federal level.  The CBO's director -- Peter R.

Prior to this discussion in class, I was extremely uneducated about the national debt situation. As much as I realize it is important to be knowledgeable in the debt crisis, as well as other national government problems, I felt overwhelmed by the subject. Because I have no economic or government background, I have never even had the basics explained to me.

In every day life, the average citizen does not recognize the importance of the national budget. Seemingly, government spending does not affect the daily lives of citizens.

The finances of the United States are in need of reform. National debt must be reduced in order to restore a healthier economic future for individuals living in the United States. Currently, Social Security is funded by payroll tax and is the largest government funded program in the world and the largest expense in the federal budget.