Players
Revenue
Expenditures
Reforms
Changes in the Budget
100
This person gets to recommend a budget and is in charge of enforcement
Who is the President?
100
This is the largest base of revenue for the government. It was enacted in 1913 with the 16th Amendment
What is income tax
100
During this 50s and 60s, the Dept. of Defense (DOD) got about this much of federal expenses
What is half?
100
The year that major tax/budget reforms went into place
What is 1974?
100
The fiscal year begin during this month.
What is April?
200
These are groups in the executive branch that have specific tasks.
What are agencies?
200
Serves as a government I-O-U
What is borrowing government bonds?
200
The largest portion of gov't expenditures goes to:
What is individuals (i.e. Social Security)?
200
This is when you plan to spend more than you bring in. Started between 1974-1999
What is a deficit budget?
200
This idea makes agencies think that they will get at least the funds that they did last year...and then some.
What is incrementalism?
300
These groups are not officially in the government, but play major roles in policy making and spending
What are interest groups?
300
Another form of tax revenue that people hope to get when they are older. You won't get it when you're older.
What is Social Security Revenues.
300
This is the biggest problem with Social Security's potential to run out by the time we're old enough to retire.
What is people living longer?
300
Reforms of the 1970s later showed their effect because of this President cutting taxes and increasing defense spending
Who is Ronald Reagan?
300
To avoid defaulting on debts, Congress must do this.
What is raising the debt ceiling?
400
These parts of Congress have certain roles to ease the law-making process as well as a say in the budget.
What are subject committees?
400
Type of tax brackets that we have now. Each bracket pays a higher percentage of their income.
What is progressive tax rate?
400
This is spending determined by the number of recipients, not the amount in dollars.
What are uncontrollable expenditures?
400
This organization was created during the 1974 reforms to help Congress
What is Congressional Budget Office (CBO)?
400
These are the simplest ways to change the budget and make it balanced. (not so simple in reality)
What are cutting spending, or raising taxes?
500
This group is made of committees and subcommittees and has a great deal to do with the budget, since they officially start the process.
What is Congress?
500
The average of income tax and corporate tax
What is 43% and 9%, respectively?
500
Defense expenses now account for about this much of the overall budget.
What is 1/6?
500
This office helps the President with the budget
What is Office of Mgmt and Budget (OMB)?
500
These are shortcuts for people to avoid taxes.
What are loopholes?
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