Scribd Logo
Cargar

¡Te damos la bienvenida a Scribd!

  • AP Am Govt Review Sheet For Budget and Taxes

    Cargado por

    btharwood
    22 vistas2 páginas
    The document summarizes key aspects of the US federal budget including: - The budget totals several trillion dollars annually and comes from tax revenues, borrowing, and other sources. A budget deficit occurs when expenditures are greater than revenues. - Entitlement programs like Social Security and Medicare make up a large portion of the budget and are growing. They provide benefits to eligible citizens. - The national debt exceeds $20 trillion and accumulating deficits add to the debt over time. Most of the debt is owned by US citizens and organizations. - The budget process involves proposals from the president and congressional approval through legislation and political negotiations over spending priorities and tax rates.

    Descripción original:

    Título original

    AP Am Govt Review Sheet for Budget and Taxes

    Derechos de autor

    © Attribution Non-Commercial (BY-NC)

    Formatos disponibles

    PDF, TXT o lea en línea desde Scribd

    ¿Le pareció útil este documento?

    ¿Este contenido es inapropiado?

    Denunciar este documento
    The document summarizes key aspects of the US federal budget including: - The budget totals several trillion dollars annually and comes from tax revenues, borrowing, and other sources. A budget deficit occurs when expenditures are greater than revenues. - Entitlement programs like Social Security and Medicare make up a large portion of the budget and are growing. They provide benefits to eligible citizens. - The national debt exceeds $20 trillion and accumulating deficits add to the debt over time. Most of the debt is owned by US citizens and organizations. - The budget process involves proposals from the president and congressional approval through legislation and political negotiations over spending priorities and tax rates.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Descargue como PDF, TXT o lea en línea desde Scribd
    Marcar por contenido inapropiado
    22 vistas2 páginas

    AP Am Govt Review Sheet For Budget and Taxes

    Cargado por

    btharwood
    The document summarizes key aspects of the US federal budget including: - The budget totals several trillion dollars annually and comes from tax revenues, borrowing, and other sources. A budget deficit occurs when expenditures are greater than revenues. - Entitlement programs like Social Security and Medicare make up a large portion of the budget and are growing. They provide benefits to eligible citizens. - The national debt exceeds $20 trillion and accumulating deficits add to the debt over time. Most of the debt is owned by US citizens and organizations. - The budget process involves proposals from the president and congressional approval through legislation and political negotiations over spending priorities and tax rates.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Descargue como PDF, TXT o lea en línea desde Scribd
    Marcar por contenido inapropiado
    de 2

    Chapter 14: Congress / Budgets / Politics of Spending

    Budgets o How big is the federal budget? Expenditures Revenues Deficits o Whats the difference between a budget deficit and the National Debt? National Debt o What is it? o How is it sold o Who owns it Entitlements o What are they? o What chunk of the budget do they take? Sources of Revenue o Income Tax Constitutionality 16th Amendment (know the year) o Social Insurance tax Have revenues increased or decreased in the last 40 years? o Borrowing Money Where does most the borrowing come from? Who can borrow o Corporate income taxes o What has been the fastest growing source of federal revenue? What is the military-industrial complex? o How much do we annually spend on military? Why? Social Security o What is it? o How is it funded? o Who pays and how much? o When was it created? o What percentage of total budget? What is Medicare? o How is it paid for? o Who gets it? o What percentage of total budget? o Why do old people eat dinner at 3:30 and drive with their blinker on? Medicaid? The Federal Debt: o How much:

    o How much is foreign? o What percentage of budget goes to pay it off? Governments expenditures as a percentage of GDP vs. other nations how do we rate? Budget allocations: o How big is it? o How much goes to Defense? o How much goes to entitlement programs o Who gets the most money? o What is incrementalism? o What is the difference between mandatory and discretionary spending? o What is an uncontrollable expenditure in the federal budget? The budgetary process o Give the steps o How does it work? o What are the politics involved? The revenue process: o Who, in government, has the ultimate power to tax and spend? o Where do tax bills begin? o In the Senate, which committee holds court, when it comes to tax bills? o How long is the total budget cycle? OMB (Page 453) what roles does it play in the process? CBO (Congressional Budget Office): what role does it play in the process? OTHER KEY TERMS: -- KNOW THESE o Reconciliation o Authorization bill o Appropriations bill

    También podría gustarte