Chapter 16 Flashcard

Front

How and why does the Constitution give Congress the power to tax?

Back

To provide for the common defense and general welfare

Front

Most of the Federal Government’s income comes from: Corporate taxes, Income taxes, Sales taxes, Property taxes

Back

Income taxes

Front

Which of the following is a common cause of public debt? Excessive government spending, High levels of private savings, Low interest rates, Trade surpluses

Back

Excessive government spending

Front

How do the President and Congress work together to create the federal budget?

Back

The President proposes a budget, and Congress reviews and modifies it before approval.

Front

How does the Federal Government Borrow money?

Back

By issuing government bonds

Front

What two offices assist the President and Congress in preparing the federal budget?

Back

Office of Management and Budget (OMB) and Congressional Budget Office (CBO)

Front

Who proposes the National budget? Options: Congress, President, Justices

Back

President

Front

Which part of government is responsible for proposing the Federal budget?

Back

the Executive branch