Taxes
The tax on gasoline is this kind of tax.
Excise Tax
The Social Security Act was passed in this year.
1935
This is the term for expenditures that exceed revenue.
Deficit
This makes it possible for Congress to spend money, but only at last year's levels.
Continuing Resolution
This monitors what agencies do with their budgets
GAO
All revenue bills have to originate here.
The House of Representatives
The purpose of Social Security originally was this.
To protect the elderly from poverty
This is the primary means by which the federal government borrows money from citizens and other countries.
Selling U.S. Treasury Bonds
This kind of bill creates a federal program.
Authorization Bill
The FCC, SEC, EPA and FTC are kinds of these.
Federal Regulatory Agencies
The 16th Amendment made this tax possible.
Income Tax
Social Security taxes are paid this way.
Payroll deductions
The U.S. national debt recently passed this milestone.
$30 Trillion
This kind of bill funds a federal program.
Appropriation Bill
The USPS and CPB are kinds of these.
Government Corporations
These people pay income taxes.
Individuals and corporations
Social Security, Medicare and Medicaid alone make up approximately this percentage of the federal budget.
Almost 2/3
This is what happens to deficits at the end of the year.
They are added to the national debt.
This establishes the government’s total spending limits.
Budget Resolution
This advises Congress on the likely consequences of its budget decisions
CBO
That half of Americans pay almost no income tax is an example of this kind of taxation.
Progressive
Borrowing from the Social Security Trust Fund is an example of this.
Intragovernmental borrowing
The need to raise this gives the opposition party political leverage.
The Debt Ceiling
The President must submit this to Congress the first Monday in February every year.
Budget Proposal
NASA and GSA are types of this.
Independent Executive Agency