A major issue currently facing the U.S. government today is budget deficits. The U.S. has run budget deficits in 40 of the last 45 years. Currently the federal government owes over $18 trillion to lenders who have funded various budget deficits since 1789. Federal elected officials and managers are accountable for public funds raised to meet the cost of government services today, as they have been from as far back as 1789 when a federal accounting structure was first put into place. These massive and seemingly unending deficits call into question the adequacy of federal government budgeting, accounting and reporting procedures.

Access the most recent Financial Report of the U.S. Government at the U.S. Treasury Department Web site, www.fms.treas.gov/fr. Then find and read at least four (4) scholarly articles concerning the U.S. budget deficit, debt, and budgetary procedures.

In a dynamic and engaging PowerPoint presentation designed to educate your audience about this very important issue, discuss the nature of the federal budget process and federal government accounting and the size and potential concerns over the current and projected size of U.S. deficits and debt.

In addition, address the following questions in your presentation:

1. What are amounts of the total budget deficit and net operating cost for each of the three most recent fiscal years?
2. How do these two measures of federal government fiscal health differ? (Hint: Refer to the Citizens Guide that accompanies Financial Report of the U.S. Government at the U.S. Treasury Department Web site).
3. What are the main factors that explain the three-year trend in each of these measures?
4. For the most recent fiscal year, identify the five largest components of the net cost of operations of the U.S. government? Which if any of these can be cut in order to balance the budget deficit?

Incorporate appropriate animations, transitions, and graphics as well as speaker notes for each slide. The speaker notes may be comprised of brief paragraphs or bulleted lists.

Support your presentation with at least four (4) scholarly resources. In addition to these specified resources, other appropriate scholarly resources may be included.