The power to cancel specific budget items without rejecting the entire budget?
What is line item veto.
100
An excess of expenditures over revenues?
What is Federal Budget Deficit.
100
This act was an attempt to change the budget gradually so that there would be no deficit by 1991? The act failed.
Gramm-Rudman-Hollings Act.
100
more money spent than revenues collected?
What is Deficit Spending.
100
A transfer payment that one level of government
makes to another?
What is grant-in-aid.
200
Spending in excess of revenues collected?
What is deficit spending.
200
Acts of Congress that allow federal agencies to spend—to various House subcommittees?
What are Appropriation Bills
200
The main feature of this act was the "pay-as-you-go" provision?
What is the Budget Enforcement Act of 1990.
200
The higher-than-normal interest rate that heavy government borrowing causes
What is the crowding out effect
200
payments made to people to protect or encourage a certain economic activity? Farmers have often received these from the government?
What are subsidies
300
A requirement that new spending proposals or tax cuts must be offset by reductions elsewhere?
What is a "pay-as-you-go" provision.
300
a yearly plan that describes what the government will take in and pay out for the year?
What is the Federal Budget.
300
This Act tried to reduce the rate at which the
deficit was growing. It combined spending reductions with tax increases?
What is the Omnibus Budget Reconciliation Act in 1993
300
A legal limit on annual discretionary spending
What is a spending cap
300
payments to elderly people and persons with disabilities?
What is Social Security
400
A broad social program that uses established eligibility requirements to provide health, nutritional, or income supplements to individuals?
What is an entitlement.
400
A constitutional amendment that requires that annual spending not to exceed revenues?
What is a balanced budget amendment
400
This act put spending caps, or limits, on discretionary
spending.
What is The Balanced Budget Agreement of 1997
400
Special account used to fund specific types of expenditures such as Social Security and
medicare?
What is a trust fund.
400
medical insurance program for low-income persons?
What is Medicaid
500
This is the total amount of money that the government
borrows from investors to pay for its deficit spending?
What is the federal debt
500
A 12-month financial planning period that may or may not coincide with the calendar year?
What is a fiscal year.
500
In this year, Congress gave the president a line-item veto—the power to cancel specific budget
items without rejecting the entire budget. However, the Supreme Court declared this power
unconstitutional?
What is 1996.
500
This is the total amount of money that the government
borrows from investors to pay for its deficit spending?