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In this economics lesson, students will evaluate fiscal policy objectives to learn the challenges of sustainable national budget formation. Experiment with developing policy plans to meet a variety of priorities while prioritizing fiscal sustainability. Measured as a share of gross domestic product, the federal debt is higher than at any time since the end of world war ii and projected to climb to unprecedented levels.
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The fiscal ship challenges you to put the federal budget on a sustainable course Understand how federal policy making decisions, and their associated revenue and spending implications, and impact the budget Your mission is to pick from a menu of tax and spending options to reduce the debt from projected levels over the next 25 years.
The council for economic education has put together a lesson plan to use with the fiscal ship, and appendix 2 gives a short instruction manual on how to play the game.
David wessel shows you how to play “the fiscal ship”—a game that puts you in control of the federal budget. In this lesson, students will learn what factors drive that growth, how that debt compares to our nation’s income, and what kinds of things could make our debt levels sustainable, or unsustainable Fiscal policy decisions (decisions about taxation and spending) are made by politicians. What data do you collect, and what do you do with it
The fiscal ship tracks limited personal and gameplay data while you play the game We do this in order to improve the game, and to aggregate and share with the public the kinds of choices players make during the game. Managing a budget is hard Playing a game is easy
Doing both can get complicated
The fiscal ship is a game designed as an accessible platform for the public to learn about the incredibly complex process of managing the federal budget.
