Makin' "B"ank
This is a financial plan for the an upcoming year based on predictions.
Budget
Tax in which consumers pay when purchasing goods or services.
Sales Tax
Federal spending that does NOT need approval.
Mandatory Spending
He was president from 1933-1945.
Franklin D. Roosevelt
Even if you don't have money to go to college, the government provides this to help you out.
Subsidize
This is when revenue = expenditures.
Balanced Budget
Tax based on the value of land.
Property Tax
Federal spending that needs approval.
Discretionary Spending
After this event, many policies were put into place to avoid future economic lows.
The Great Depression
I retired from my job and now I have no income, but I am over 65 and am eligible for this.
Social Security / Medicare
This is when Revenue is less than expenditures.
Budget Deficit
Tax people pay when they earn wages.
Income Tax
Funds set aside to help people like welfare and medicaid.
Entitlement Programs
This was F.D.R.'s plan to boost the economy.
The New Deal
This economic feature works to increase or preserve income without addition governmental action.
Automatic Stabilizer
This is when Revenue is greater than expenditures.
Budget Surplus
Tax paid by companies based on profits.
Corporate Tax
Legislation sets spending limits on certain programs under this bill.
Appropriations Bill
List 1 of the 3 goals to boost the economy in the 1930's.
Keep People Working
Keep Consumers Buying Goods
Keep Producing Goods
The school used up almost of it's budget by June 30th, but it's okay because the new this starts on July 1st.
Fiscal Year
This is money owed that hasn't been repaid yet. Shhhh, the "B" is silent.
Debt
Besides increasing spending and stimulus checks, government can also do this to boost the economy.
Cut Taxes
Funds for the village of Wauzeka received from the state of Wisconsin, received from the federal government is an example of this.
Intergovernmental Revenue
Though there were economic lows in the 30s, the CBO wasn't established until 40 years later. CBO stands for this.
Congressional Budget Office
What can the government do to balance the economy?
Cut Taxes
Stimulus Checks
Cut Spending
Save Revenue
Answers may vary