miranda reports imperialism. what really big event happened on this date in 1775?
DESCRIPTION
Revolutionary war began with the battles of Lexington and ConcordTRANSCRIPT
Miranda reports
Imperialism
What really big event happened on this date in 1775?
What really big event happened on this date in 1775?
• Revolutionary war began with the battles of Lexington and Concord
A few economics updates
A few economics updates
• What if the average family in Sarasota behaved like the federal government?
Our Sarasota family
• What if the average family in Sarasota behaved like the federal government?
• Your income for 2010 was $41,957
Our Sarasota family
• What if the average family in Sarasota behaved like the federal government?
• Your income for 2010 was $41,957• You spent $62,600
Our Sarasota family
• What if the average family in Sarasota behaved like the federal government?
• Your income for 2010 was $41,957• You spent $62,600• You owe $251,742 on your credit cards
Our Sarasota family
• What if the average family in Sarasota behaved like the federal government?
• Your income for 2010 was $41,957• You spent $62,600• You owe $251,742 on your credit cards• Your more responsible spouse wanted to cut
back your spending by $1,058 for the coming year
Our Sarasota family
• You react by telling your spouse they’re going to kill women and disabled children, and starve granny
Our Sarasota family
• You react by telling your spouse they’re going to kill women and disabled children, and starve granny
• You finally agree to cut spending about $600 to $62,000, even though you know you’ll only take in $42,000 next year
Our Sarasota family
• You react by telling your spouse they’re going to kill women and disabled children, and starve granny
• You finally agree to cut spending about $600 to $62,000, even though you know you’ll only take in $42,000 next year
• You’re in some serious financial trouble
So to little surprise....
U.S. government off a cliff
• Unless the Congress and Obama agree to enact serious deficit/debt reduction, S&P will downgrade our credit rating
U.S. government off a cliff
• Unless the Congress and Obama agree to enact serious deficit/debt reduction, S&P will downgrade our credit rating
• Result will be much higher interest payments on that nearly $14.3 trillion debt we’ve talked about
U.S. government off a cliff
• Unless the Congress and Obama agree to enact serious deficit/debt reduction, S&P will downgrade our credit rating
• Result will be much higher interest payments on that nearly $14.3 trillion debt we’ve talked about
• When the government sucks up ever more of the nation’s resources, what will be result?
President’s Obama’s deficit reduction ‘plan’
President’s Obama’s deficit reduction ‘plan’
• Raise taxes on the productive (the ‘rich’)
President’s Obama’s deficit reduction ‘plan’
• Raise taxes on the productive (the ‘rich’)• What will be unintended consequences?
President’s Obama’s deficit reduction ‘plan’
• Raise taxes on the productive (the ‘rich’)• What will be unintended consequences?• Other problem: you can tax everyone who
makes more than $100,000 at 100% – all their money – and it will won’t cover the Obama $1.6 trillion deficit for 2011
Remainder of 2011
• Four classes remaining
Remainder of 2011
• Four classes remaining• Three chapters of Basic Economics remain
Remainder of 2011
• Four classes remaining• Three chapters of Basic Economics remain• We’ll cover a chapter a week and have a final
test on May 10
Remainder of 2011
• Four classes remaining• Three chapters of Basic Economics remain• We’ll cover a chapter a week and have a final
test on May 10• For April 26, read and study Chapter 23:
“Myths about Markets”