Think of an example of a Public Good (not a publicly provided good, but a Public Good using the definition from the chapter.) What are the costs of providing the good? What are the benefits? Is there another way to have the good provided? Did this chapter cause you to think of Public Goods differently? In what way?
Spending on national defense
- .) What are the costs of providing the good?
About one sixth of federal spending goes to national defense. CBO estimates the budgetary effects of legislation related to national security and assesses the cost effectiveness of current and proposed defense programs. Periodically, CBO produces reference volumes examining options for reducing budget deficits. The volumes include a wide range of options, derived from many sources, for reducing spending and increasing revenues. (Occasionally, the volumes focus on specific areas of the budget, as do many of CBO’s other reports.) For each option, CBO presents an estimate of its effects on the budget and a discussion of its pros and cons but makes no recommendations. Since 2007, federal debt held by the public has more than doubled in relation to the size of the economy, and it will keep growing significantly if the large annual budget deficits projected under current law come to pass. The Congress faces an array of policy choices as it confronts the challenges posed by such large and growing debt. To help inform lawmakers, the Congressional Budget Office periodically issues a compendium of policy options that would help reduce the deficit, reporting the estimated budgetary effects of those options and highlighting some arguments for and against them.
This report, the latest in the series, presents 121 options that would decrease federal spending or increase federal revenues over the next 10 years (see Summary Table below). Of those options, 112 are presented in the main body of the report, and most of those 112 would save $10 billion or more over that period. The remaining 9 options are presented in an appendix and would generally have smaller budgetary effects.
https://www.cbo.gov/publication/54667
- .) What are the benefits?
It would decrease federal spending and increase federal revenue over the next 10 years .
- )Is there another way to have the good provided?
No I do not believe another way to have this good provided.
- Did this chapter cause you to think of Public Goods differently? In what way?
No because I research public goods and gives more in detail on what you want to know more about.
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