This policy is controlled by the Federal Reserve Board
What is Monetary Policy
100
This president signed the Social Security Act into law
What is Franklin D. Roosevelt
200
This tax is offered at a flat rate
What is regressive tax
200
This office is responsible for preparing the federal budget
What is Office of Management and Budget
200
Over 60% of all federal spending falls into this category
What is Uncontrollable Spending
200
This policy includes raising and lowering taxes and government spending programs.
What is Fiscal Policy
200
This program was designed to assist the elderly.
What is Medicare
300
This amendment gave Congress the ability to levy an income tax
What is the 16th amendment
300
The Congressional Budget and Impoundment Control Act of 1974 established this. Name 2.
What is
Designed to reform the congressional budgetary process and regain power previously lost to the executive branch.
Created a fixed budget calendar.
Established a budget committee in each house of Congress.
Created the Congressional Budget Office (CBO) to advise Congress by forecasting revenues and evaluating the probable consequences of budget decisions.
300
These are the largest entitlement programs. Name 2.
What is Social Security, Medicare, Medicaid, food stamps, unemployment insurance, veteran's pensions
300
When expenditures exceed revenues in a fiscal year
What is Budget Deficit
300
These 3 programs comprise 44% of federal expenditures
What is Social Security, Medicare, and Medicaid
400
These taxes are proportional to income.
What is progressive tax
400
The process of small but regular increases to an agencies budget
What is incrementalism
400
A program that guarantees a specific level of benefits to persons who meet requirements set by law
What is entitlement program
400
When expenditures equal revenues in a fiscal year
What is Balanced Budget
400
The modern ratio between workers and beneficiaries
What is 3.3:1
500
This percentage of annual income is paid by employees for Medicare
What is 1.45%
500
All tax proposals are referred to these two committees.
What is the House Ways and Means Committee and the Senate Finance Committee.
500
These spending programs are not required by law
What is Discretionary Spending
500
A financial plan for the use of money, personnel and property
What is Budget
500
The Baby Boom generation is between these two years