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The largest portion of the federal budget covers the costs of
This reduced trade restrictions between Mexico, USA, and Canada
Tax and Spend
What is an example of a tax expenditure?
Mortgage interest deduction
A tax whereby poor citizens pay a higher percentage of their incomes compared with wealthier citizens
What created a fixed budget calendar, a budget committee in each house, the Congressional Budget Office, and reconciliation and appropriation deadlines
Congressional Budget and Impoundment Control Act of 1974
How does "Pork Barrel" politics make it easier to reelect a congressperson?
Helps earn the member of congress a reputation for service to his or her district.
What is Social Security funded by?
When Congress is unable to reach agreement and pass appropriations bills, it may allow agencies to spend at the previous year’s level by passing a
Public policies emerge from compromises reached among competing groups.
This allowed an income tax
What gives the government the most funding?
The Constitution states that all revenue bills must originate in
House of Representatives
Directing federal funds into the representative’s district through legislation
The primary responsibility for determining monetary policy in the United States rests with the
Federal Reserve System
What type of bill must be passed to fund a program?
Which of the following is the best indicator of the Department of Defense’s yearly budget?
the size of the budget from the year before
Requiring states and municipalities to provide certain services for their citizens without providing resources to pay for those services.
Which of the following committees plays a major role in the House in shaping tax policy?
Ways and Means
Money spent on programs like education or military spending that can changed from year to year.
Spending on Pensions, Social Security, Medicare, and interest on the debt that has to be paid
Programs like Medicare and Social Security that are promised after years of taxpayers paying into them
When spending is greater than taxes
when taxes are greater than spending
the practice of exchanging favors, especially in politics by reciprocal voting for each other's proposed legislation.
a macroeconomic theory arguing that economic growth can be most effectively created by lowering taxes and decreasing regulation, by which it is directly opposed to demand-side economics.
Government should step in to stop recessions by increasing government spending, cut taxes, and expand money supply or to slow the economy down when the economy is growing too fast with rising inflation