1
2
3
4
5
100
A policy document allocating burdens and benefits
What is a budget?
100
This is a tax system where those with more taxable income not only pay more taxes but also higher rates of taxes.
What is a progressive tax?
100
A majority of the U.S. national debt is currently held by who?
Who are foreign investors?
100
The purchasing of military hardware.
What is procurement?
100
The government agency that has been established to assist Congress in making budgeting decisions.
What is the Congressional Budget Office (CBO)?
200
This occurs when expenditures exceed revenues.
What is a budget deficit?
200
This agency was created in order to collect the federal income tax.
What is the Internal Revenue System (IRS)?
200
Revenue losses attributable to provisions of the federal tax laws, which allow special exemption, exclusion, or deduction.
What are tax expenditures?
200
This was added to the Social Security program in 1965 to provide health care coverage to the elderly.
What is medicare?
200
These two committees, in each house of Congress, writes the tax codes.
What is the HOUSE Ways and Means and the SENATE Finance Committee?
300
These are the four major sources of federal revenue.
What are personal income taxes, corporate income taxes, social insurance taxes (Social Security) and borrowing?
300
Both of these pay Social Security taxes.
Who are employees AND employers?
300
Tax expenditures tend to benefit this group of the population.
Who are middle and upper income people and corporations?
300
Providing a small increase in the current budget over the previous year's budget.
What is incremental budgeting?
300
The task to audit, monitor, and evaluate what agencies are doing with their budgets belongs to this agency.
What is the General Accountability Office (GAO)?
400
This was the result of the Supreme Court's ruling in Pollock v. Farmer's Loan and Trust.
What is "a federal income tax was ruled unconstitutional"?
400
All of the money borrowed by the federal government over the years that still needs to be paid back.
What is the federal debt?
400
The close relationship between defense officials and the corporations that supply their hardware needs.
What is the "military industrial complex"?
400
The biggest uncontrollable expenditure.
What is the Social Security system?
400
Sets limits on expenditures based on revenue projections.
What is a budget resolution?
500
This amendment to the U.S. Constitution permitted a federal income tax.
What is the 16th Amendment?
500
This is how the government borrows money.
What is "selling bonds"?
500
The term "military industrial complex" was coined by this president
What is President Dwight Eisenhower?
500
Policies for which Congress has obligated itself to pay X level of benefits to Y number of recipients.
What are entitlements?
500
This type of bill is passed to actually fund a program.
What is an appropriations bill?
M
e
n
u