THE NATIONAL DEBT ESSAY Topic: What can be done to reduce our large budget deficits in order to address our ballooning national debt? 1) Write an essay in which you address the following. UNDERLINE the terms budget deficit and national debt when you explain what they are. a) Identify what a budget deficit is (3pts) b) Identify what the national debt is and indicate its current size (3pts) c) Based on your understanding of the debt and deficits put forth a plan that could begin to solve this problem. Your plan should reflect your understanding of the problem and be creative. Also address the potential implications of your plan, in other words what are the potential downsides of your plan. (5pts) 2) Use an essay format; including introduction, body, and concluding paragraphs. (3pts) 3) Your essay should reflect your understanding of chapter 16 section 3 in the textbook, the debt clock see, think, wonder activity, the national debt 3-2-1 bridge activity and the viewing of I.O.U.S.A. (budget portion). (3pts) 4) You must use correct grammar, punctuation, and spelling. (3pts) 0-2 Mistakes = 3.0 pts 2-4 Mistakes = 2.5 pts 5-6 Mistakes = 2.0 pts 7+ Mistakes = 1.5 pts 5) Your essay is due Friday, May 10th. No extensions will be given for this assignment, and no late work will be accepted. No exceptions!