This document provides an overview of macroeconomics and fiscal policy concepts including: 1) It discusses government budgets, taxes, spending, deficits, and debt. The current US debt is $24 trillion or $72,700 per person. 2) Fiscal policy tools like taxes and spending can be used to increase or decrease aggregate demand. Raising/lowering taxes and increasing/decreasing spending impact the economy in the short-run. 3) Government spending is funded through tax revenues, borrowing, or drawing down surpluses. Too much borrowing can "crowd out" private sector investment by raising interest rates. Simply providing more government services does not necessarily increase total spending in the economy.