CH 14 Government Spending & taxes

Front

Which of the following does the federal government spend the most money on? defense, education, international affairs, health care

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defense

Front

discretionary spending is

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congress's choice

Front

When a government is spending more money than it is making, it is operating in a...

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deficit

Front

Social Security is the largest portion of which type of spending? Options: Mandatory/Entitlements, Discretionary

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Mandatory/Entitlements

Front

Accumulation of deficits year after year is called

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debt

Front

Medicare, Social Security are also known as

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entitlements

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How much government spending makes up the GDP?

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A third

Front

Money that Congress is MANDATED or required by existing law to spend on certain programs or to use for interest payment on the national debt.

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mandatory spending

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Spending about which lawmakers are free to make choices, such as defense and education

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discretionary spending

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Social welfare programs that people are "entitled to" and benefit from if they meet certain eligibility requirements, such as being at a particular income level, or age.

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entitlements