Deficit Shocker

Monday, March 1, 2004

Deficit Shocker (NAPSA)—Asurprising new poll shows that one-third of Americans aged 18 to 24 incorrectly answered the following simple multiple choice question: “Whenthe federal government’s expenditures for a year are greater than its revenuesfor that year, the difference is known as(a) the national debt; (b) a budget deficit; (c) a budget surplus or (d) don’t know.” According to a recent survey of 25,000 Americans, a large percentage of Americans under 24 don’t understand basic economic concepts. The poor showing on this question by new voters is alarming as they are also heirs to the largest budget deficit in U.S. history. The survey, conducted by the National Council on Economie Education (NCEE), also found that more than half of those aged 17 and under answered the question incorrectly. (The correct answeris b.) “These startling results show the need to continue our work helping teachers across America instill basic economic concepts in the minds of America’s students in grades K through 12,” said Robert Duvall, NCEEpresident and CEO. NCEE is now celebrating its 55th year providing programs, training and materials for U.S. teachers to communicate to their students economic concepts such as supply and demand, interest rates, deficits and inflation. The Council is a nonprofit, non-partisan organization dedicated to improving economic literacy. To learn more, visit www.ncee.net.

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