After an overview of the current fiscal problems and budget deficit, Mr. Thiebert told the participants that their job was to balance spending and revenue by looking at a number of policy options and areas, including mandatory and defense spending. He challenged the students to find $1.2 trillion in savings—or more—over the next 10 years.

“By working as groups, you’re going to see that these [budget options] are difficult choices, but they are tough choices that have to be made,” he said.