Between last week and this week, as we conclude our in-depth examination of the aggregate expenditures equation, we introduced the role of the international sector and the government.In looking at these two economic actors, we cannot overlook the deficits faced both on an international scale when it comes to trade and by the public sector exhibited by budgetary deficits and the national debt. This leads to questions affecting both areas.

With regards to the international sector, we can begin by asking whether the trade deficit limits economic growth?Is the work of the World Trade Organization, calling for a decrease in tariff rates, among other things, beneficial to all nations, or would it be better for nations to impose tariff rates as high as they desired?

When examining the government, for quite some time, concerns have been expressed especially when it comes to the size of the national debt, which is currently closing in on $29 trillion and growing, as you can see by clicking on the link to the national debt clock in this week's notes.

Do you believe that the growing national debt, financed through the selling of bonds, can be sustained for the foreseeable future and beyond?What impact will this have on economic growth and other macroeconomic measures discussed in this class? What are your thoughts regarding the raising of the debt ceiling and the fact we are reaching that limit again in less than a month? After reading this week's articles, what are your thoughts regarding both the infrastructure and social safety plan bills?