The Federal Government
State and local government
expenditures
surplus and deficits
main ideas
100
blueprint of how the government will raise and spend money.
What is a budget
100
money that one level of government receives from another level.
What are intergovernment revenues
100
pay prt of the cost of , their citizen's college education
What is subsidize
100
When spending equal revenues
What is balanced budget
100
the second largest category of federal expenditures
What is national defense?
200
Spending that does not need annual approval.
What is mandatory spending
200
a general tax levied on consumer purchases o nearly all products.
What is sale tax
200
When the government spends less than it collects in revenues
What is surplus
200
set of beliefs they hold
What is ideological grounds
200
Social security
What is the largest single spending category?
300
government expenditures that must be approved each year.
What is discretionary spending
300
tax that people pay on the land and houses they own.
What is property tax.
300
when the government spends more htan it collects in revenue
What is deficit
300
programs that begin working to stimulate the economy as soon as they are needed.
What are automatic stabilizers
300
Intergovernmantal revenue, property tax, charges and miscellaneous general revenue
What is largest local government revenue
400
provides money to people whoare retired or disabled.
What is social security
400
or money, of their own
What is resources
400
a contract to repay the borrowed money wityh interest at a specific time in the future.
What is bonds
400
a 12 month year that may not match the calendar year
What is a fiscal year
400
education services, other, utility
What is 3 largest categories for local government.
500
pays some helath care costs of elderly people.
What is medicare
500
health, nutritional or income payments to people who meet extablished eligibility requirememts.
What is entitlement programs
500
all the money hat has been borrowed over the years and has not yet been paid back
What is government's debt
500
October 1 and ends September 30
What is the begining dates for the government's budget?
500
The second largest source of local revenue
What is property taxes?
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