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Terms for Budget
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Balanced Budget: Budget in which tax revenues are equal to government expenditures.
Budget Deficit: Budget in which expenditures are greater than tax revenues.
Budget Surplus: Budget in which tax revenues are greater than government expenditures.
Debt financing: The long-term borrowing of money by government
Deficit spending: government spending financed by borrowing rather than taxation.
Discretionary spending is what the President and Congress decide to spend through the 13 annual appropriations bills. Examples include money for such activities as the FBI and the Coast Guard, housing and education, space exploration and highway construction, and defense and foreign aid. ...
Economic growth: The increase over time in the capacity of an economy to produce more goods and services and (ideally) to improve the well-being of its citizens.
An entitlement program is one in which the federal government is legally obligated to make payments or provide aid to any person who meets the legal criteria for eligibility. Examples include Social Security, Medicare, Medicaid, and Food Stamps.
Mandatory spending is authorized by permanent law rather than annual appropriations. Examples include Social Security, Medicare, Medicaid, unemployment benefits, food stamps and federal retirement. ...
National Debt: Any money owed by the government of a nation
Net national interest owed on funds borrowed by the federal government.
Pork barrel spending: when politicians divert federal monies to fund specific projects in their district in order to garner favor with their constituents.
A supplemental spending bill is normally used to fund completely unanticipated circumstances which arise after the budget for the current fiscal year has been approved.
Balanced Budget: Budget in which tax revenues are equal to government expenditures.
Budget Deficit: Budget in which expenditures are greater than tax revenues.
Budget Surplus: Budget in which tax revenues are greater than government expenditures.
Debt financing: The long-term borrowing of money by government
Deficit spending: government spending financed by borrowing rather than taxation.
Discretionary spending is what the President and Congress decide to spend through the 13 annual appropriations bills. Examples include money for such activities as the FBI and the Coast Guard, housing and education, space exploration and highway construction, and defense and foreign aid. ...
Economic growth: The increase over time in the capacity of an economy to produce more goods and services and (ideally) to improve the well-being of its citizens.
An entitlement program is one in which the federal government is legally obligated to make payments or provide aid to any person who meets the legal criteria for eligibility. Examples include Social Security, Medicare, Medicaid, and Food Stamps.
Mandatory spending is authorized by permanent law rather than annual appropriations. Examples include Social Security, Medicare, Medicaid, unemployment benefits, food stamps and federal retirement. ...
National Debt: Any money owed by the government of a nation
Net national interest owed on funds borrowed by the federal government.
Pork barrel spending: when politicians divert federal monies to fund specific projects in their district in order to garner favor with their constituents.
A supplemental spending bill is normally used to fund completely unanticipated circumstances which arise after the budget for the current fiscal year has been approved.
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