Question 1

Find an article through ProQuest which discusses the differences between government and private sector accounting and finance. With your article and the assigned readings for the week, discuss the differences in government and private sector accounting and finance. Remember to properly cite your sources.

Question 2

The federal debt keeps rising every year and has changed from a moral responsibility to a tool used in economic policy. Government spending is used for everything from Medicare and Medicaid to buying books for underprivileged schools. Government spending is used on short-term and long-term projects. After reading "Honey I Shrank the Deficit (But Grew the National Debt)" by David Davenport, what types of projects (short-term or long-term) should government spending be used on and why? Provide examples. Why is it important to lower the national debt? Or, is the national debt just something we pass on to the next generation? What problems does the federal debt establish, even when there is government surplus? Explain the relationship between the federal debt and annual surplus and annual deficits.