Chapter 22 Section 1 & 2 Mr. Holmes December 8, 2012.

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1 Chapter 22 Section 1 & 2 Mr. Holmes December 8, 2012

2 Budgeting The fiscal year for the government runs from 10/1 to 9/30.
Spending falls into two categories: Mandatory: What they have to spend Discretionary: Things that the federal government can choose.

3 It’s all about the money…
Revenue Expenditures Taxes 3 categories: Proportional Progressive Regressive Biggest spending items Defense Social Security Income Security Medicare Medicaid Interest on Debt

4 State Budget Revenue Expenditures Federal Government Sales Tax
Public Welfare Education

5 Local Government Revenue Expenditure Property Tax State Government
Fire Police Schools Roads Sewers Trash

6 Does this show a surplus or deficit?

7 What is wrong with federal debt?

8 When there is a recession:
Government does two things: Increase spending Cut taxes

9 2009 Stimulus In 2009, President Obama asked Congress to pass a stimulus to help Americans during the Depression. Americans today still argue if it was a good use of money or a waste of money.

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