problem created in the federal budget when tax cuts are implemented
What is a budget deficit?
100
two types of spending that compete with each other in a market economy
What are private and non-private?
100
one of the largest obstacles of stimulus spending
What is time?
100
Obama's ARRA
What is American Recovery and Restoration Act?
100
an exception to the poor record of stimulus packages in the American economy
What is the Great Depression?
200
tax cut where the government reduces the amount of taxes taken from an individual’s income, decreasing the individual’s total taxes owed and increasing the incentive to work
What is a marginal tax rate reduction?
200
______ _______ ________ is offset by lower private spending
What is high government spending?
200
a reduction in current taxes means an increase in ________ ________
What is future taxes?
200
the ARRA was a direct result of __ ______ __________
What is the 2008 recession?
200
Means of deciding who shall bear the burden of government spending
What is taxes?
300
tax cut where every eligible individual receives a specific amount from the government, regardless of income
What is a lump sum tax rebate?
300
money spent on highways, bridges, tunnels, etc.
What is infrastructure spending?
300
the spending of the funds from this act was not implemented until well into 2011
What is Obama’s 2009 stimulus package?
300
The ARRA had little impact on _______ demand
What is aggregate?
300
larger government deficits cause interest rates to _______
What is increase?
400
Consumers will _______ the money from the tax cut rather than ______ it
What is save, spend?
400
private spending reduces the stimulating effects of _______ _______
What is government spending?
400
reason why states would decide to delay spending of money they get from the federal government
What is the benefits of spending would not outweigh the costs?
400
debt was moved from _______ to ________ governments
What is federal, local/state?
400
high interest rates cause private consumption and investment spending to ________
What is decrease?
500
governments ______ money to compensate for what they lose in tax cuts
What is borrow?
500
exception to the rule of competition between private and non-private government spending
What is defense spending, infrastructure spending?
500
two states that wanted to use funds meant for a light rail system to improve their infrastructure
What is Wisconsin and Ohio?
500
an example of what the ARRA funds were used for
What is infrastructure, education, health, renewable energy?
500
term used to describe "as soon as people earn one more dollar, they spend one more dollar"