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Standard SSEMA3b-Explain the government’s taxing and spending decisions
Ways of Spending Purchase- government buys goods and services as well as pays wages and salaries Transfer- payment where no good or service is received in return
Types of Spending Discretionary- must receive authorization by the House Mandatory- spending authorized by law
Biggest spending categories 1. Defense 2. Healthcare 3. Social Security
Impact of Spending Resource Allocation Redistribution of income Competing with private Sector
How is the budget set? Senate Must approve the bill sent by the House House Approve, modify, or disapprove Set initial budget targets for spending Executive President establishes the budget
Government Spending Daniel Camit Derrik Overton Kevin Phipps Billy Raddell.
Government Revenue and Spending. Mandatory payments known as taxes make up the vast majority of government revenue. Principles of Taxes: - Benefits Received:
Budget, Deficit, Debt By PresenterMedia.com PresenterMedia.com.
CHAPTER 10 GOVERNMENT SPENDING.
Ch. 10 Government Spending. Section 1 Government Spending in Perspective Total government expenditures at all levels was almost $2.9 trillion in 2001-
Notebook # 30 Economics 10-2 Federal Government Expenditures Pages
Federal Government Expenditures. Federal Budget –An annual plan outlining proposed revenues and expenditures for the coming year –Consists of: Mandatory.
Chapter Introduction 1 Economics and You If you borrow money because you spend more than you earn, you run a deficit. In Chapter 10, you will learn how.
Brandon, Jordan, Ricardo, Monica, and Cynthia The role of the federal government has grown, making it a vital player in the economy. Incomes are.
Today’s Schedule – 11/21 Government Spending PPT Presidential Budget Analysis HW – Read 15.1/15.2.
Your tax dollars at work Congressional Budget Process Enacted to bring order to decision making of how to Establishes timetable for orderly decision.
Health Economics Unit Budget of the US Government Fiscal Year 2000 l October 1, 1999 to September 30, 2000 l Total Government Spending is 29% of.
The Congress, the President, and the Budget: The Politics of Taxing and Spending Chapter 14.
THE CONGRESS, THE PRESIDENT, AND THE BUDGET: The Politics of Taxing and Spending.
Government Spending In 2001, total government expenditures amounted to nearly $2.9 trillion. On a per capita basis, this amounted to almost $10,300 for.
Government Spending Chapter 10.
GOVERNMENT SPENDING. I.Government Spending in Perspective A.In 2003 – approx. $3 trillion or about $10,300 for every man, woman and child B. The events.
Monetary Policy Monetary Policy – the process by which the government controls the supply of money in circulation and the supply of credit through the.
The Federal government collects money (revenue) and spends money. The government is important in our economy.
Ch. 10 Econ 1. Total gov’t expenditures at all levels was almost $3 trillion in about $__________ for every American.
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