what the government does with the money’ has been changing over time in a consistent manner.

Writing Prompt:\ In The Budget Balance powerpoint (see the link in the menu on the left-hand-side of this page), I pointed out that the real economic sacrifice imposed on the country by government borrowing could be zero – or it could be substantial – depending on what the government does with the money. In the article, \\\”Entitlements, Public Investment, and the Changing Nature of the U.S. Government,\\\” on Tim Taylor\\\’s blog, Conversable Economist, we find that ‘what the government does with the money’ has been changing over time in a consistent manner.\ \ I want you to consider three points related to that article:\ \ 1. How has the composition of government spending changed since the 1960\\\’s? Support your answer with examples from the article. (One paragraph)\ \ 2. Then explain how the various categories of federal government spending (such as spending on entitlements, or infrastructure or basic research) qualify as either consumption or investment spending. In your answer, be sure to define the terms ‘consumption’ and ‘investment.’ (See the Saving, Investment, and the Trade Balance powerpoint in the menu on the left hand side of this page.) (One paragraph)\ \ 3. Explain how the changing pattern of government spending affects the real economic burden of the national debt.\ \ YOU MUST MEET THESE EXPECTATION:\ Ideas are well-organized. Transition sentences effectively connect one idea to the next. The essay is free of typos and grammatical errors.The changing composition of federal government spending is reported accurately and thoroughly explained with examples from the reading.The student demonstrates understanding of the terms consumption and investment and accurately categorizes the various categories of government spending into these groupsThe student demonstrates a firm understanding of why the way the government spends the money today determines the burden of the debt to future generations.