[Don W]

Only 88%, but I dispute one of my “wrong” answers.

I answered that if gov’t expenses equal tax receipts, there is no debt. The “correct” answer was that gov’t expenditure per citizen was equal.

I got all the history and political correct, mind you. Just a bit weaker than I’d like to admit being on the economic front. Time for some more reading of Mises etc.

[thefrankbaum]

Just because you've current balanced revenues (taxes) and expenses (spending) doesn't mean that you had done the same in past years. Some of that spending may be on debt service - you just aren't adding new debt.

Then again, I got 100%, so I may be a bit of a know-it-all :-P