Confused about the back-and-forth between the House and Senate over the budget shutdown that threatens the entire American economy? Allow us to explain, using the Legos on our desk.
The shutdown is only part of the story. On Oct. 17, the government is set to run out of money to pay its bills, leading to a potential default by the United States, something that has never happened and which many economists and business leaders warn could be calamitous for the country and the economy.
Think you could do a better job than Washington balancing the budget? Play the Penny Game.
Do you have what it takes to be a Budget Hero?
To understand the debt ceiling crisis, read the article “Treasury Puts a Date on When Cash May Run Out: Oct. 17″ and answer the following questions:
1) What is the debt ceiling? What is a default?
2) Why do many economists fear a default? What might happen?
3) Why have Republicans in Congress been reluctant to raise the debt ceiling?
4) Should President Obama ignore the debt ceiling?
5) Should he interpret the 14th Amendment as giving him the authority to bypass Congress and pay all United States debt in full?
6) Should Congressional Republicans offer to raise the debt ceiling to create more time to pursue their legislative goals with the shutdown?
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