U.S. Leaders
Economy
Taxes
Government Revenue
Federalism
100
Nebraska's District 3 Representative
Adrian Smith
100
money owed for all time
debt
100
money requested by a government and paid for by the people and businesses for services provided by a government
tax
100
general increase in prices
inflation
100
governing system with powers divided between national and state governments
federalism
200
Democratic Senator from Nebraska
Ben Nelson
200
two ways our national debt is funded
1) bonds with americans, china, japan 2)borrowing against self
200
tax charged to a person or a business and then passed on to another (example: rent)
indirect tax
200
absence of growth and the economy shrinks
recession
200
"powers not delegated to national government are reserved for states"
division of powers
300
House Minority Leader (Democrat)
Nancy Pelosi
300
2011 Federal Revenue
$2.5 trillion
300
taxes on services or goods
excise tax
300
gov't policy to help economy
fiscal policy
400
Senate Majority Leader (Democrat)
Harry Reid
400
National Debt
$14 trillion
400
taxes applied to the estate of deceased and sizeable monetary gifts
estate/gift tax
400
tax cus put more money in your pocket and stimulate the economy is what kind of economics
supply-side economics
400
no state can ban or discriminate against a person from another state
priveledges and immunities clause
500
Senate Minority Leader (Republican)
Mitch McConnell
500
# of money owed in one fiscal year
deficit
500
the more you make the more you get taxed
progressive tax
500
theory that government has a "hands off" approach to the economy
laissez-fair theory
500
ammendment that states that you have the right to a fair and speedy trial
6th ammendment
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