Budget

See if you can even do better than the Governor’s proposed budget. Also, for budget category, prioritize your budget. Discuss and answer the following questions in your submission. Budget Plan. In your response, answer the questions below and assign percentages to each of the six budget categories listed below. 1. Do you think it is important to create a budget that has less spending than tax revenues collected? Explain. 2. What are some economic and political reasons why it is difficult to cut spending from current levels? 3. Deficit spending happens when a government spends more than what it has coming in from taxation. Under what circumstance do you think this could be a good strategy? 4. Will you increase taxes to help collect more money? If so, what will be your plan for your tax increase? 5. Will you decrease taxes? Regardless, what are possible advantages to decreasing taxes even when spending is high? 6. In what areas will you allocate money to stimulate the economy? Explain. Create a Budget. In your response, discuss your priorities and rationale for allocating resources to each of the following six categories. Be sure to detail what percentage of the total budget you will spend on each of six budget categories listed below. Budget Category Percentage of Total Budget: General Government Energy/Environment/Agriculture Higher Education Safety/Corrections/Courts Health, Welfare, and Families Public Education Total Spending: =100% 1. What criteria did you use to decide which areas received the most or least amount of the budget? 2. What are some reasons why your budget category should receive the highest percentage of spending possible? 3. As you think about your budget, do you have any ideas for spending cuts? What strategies would you use to advance your ideas for cuts?