National Debt
Deficits
Public & Private Debt
Legislative Features
Revenue & Spending
100
the total amount borrowed from investors to finance the government's deficit spending
What is national debt
100
Can be intentional or unintentional
What is deficit spending
100
Special accounts used to fund certain types of expenditures like Medicare and Social Security. �
What is Trust Funds
100
a requirement that new spending proposals or tax cuts must be offset by reductions elsewhere in the budget.
What is pay-as-you-go provision
100
broad social programs with established eligibility requirements to provide health, nutritional, or income supplements to individuals.
What is entitlements
200
Some of the borrowed money is repaid and the amount of total debt goes down when the federal budget runs a
What is surplus
200
Occurs when the government's spending exceeds its revenue
What is deficit spending
200
Debt owed to the installer
What is public debt
200
required politically unpopular cuts in many programs such as health, science, and education, so they were abandoned.
What is spending caps
200
Spending is difficult to reduce because the federal budget had so many
What is entitlements
300
BONUS! FREE 300 POINTS
CONGRATS!
300
When the government invests in education, transportation, and infrastructure
What is intentional deficit spending
300
Usually makes plans to repay debt borrowed.
What is Private Debt
300
legal limits on annual discretionary spending to assure that Congress balanced the budget.
What is spending caps
300
Higher tax rates, along with strong economic growth, combined to produce four consecutive years of federal budget surpluses. By 2001 Congress expected annual surpluses for another 10 years. Rather than pay down the debt, however, Congress cut tax rates while also increasing
What is spending
400
When the national debt does not changes then the federal government achieved a
What is balanced budget
400
When the federal government runs a deficit, it must finance the revenue shortage in the form of this action
What is borrowing
400
Weighs as the biggest part of national debt
What is public debt
400
the power to cancel specific budget items without rejecting the entire budget
What is line-item veto
400
Another word for income
What is revenue
500
budget which expenditures equal revenues
What is balanced budget
500
Can cause the deficit to grow
What is economic downturn
500
Make ups the national debt
What is public and private debt
500
Act passed in 1985 by Congress
What is BEA (Budget Enforcement Act)
500
Most entitlements are classified as
What is mandatory spending
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