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| A policy document allocating burdens and benefits. |
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| An excess of federal expenditures and federal revenues. |
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| The Financial resources of the federal government. The individual income tax and Social Security tax are two major source. |
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| Federal spending of revenues. Major areas such as spending social service and military. |
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| Shares of individual wages and corporate revenues collected by the government. The Sixteenth Amendment authorized Congress to do this. |
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| Adopted in 1913 that permitted Congress to levy an income tax. |
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| All the money borrowed by the federal government over the years and still standing. |
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| Revenues loses that result from special exemption, exclusion, or deductions on federal tax law. |
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| A 1935 law passed during the Great Depression that was intended to provide a minimal level of sustenance to older Americans and thus save them from poverty. |
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| A program added to the Social Security System in 1965 that provides insurance for the elderly and permits older American to purchase inexpensive coverage for doctor fees and other health expenses. |
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| The Belief that the best predictor of this year's budget is last year's budget, plus a little bit more. According to Aaron Wildavsky. |
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| Uncontrollable Expenditures |
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| Expenditures that are determined not by fixed amount of money appropriated by Congress but how many eligible beneficiaries there are for a program or by previous obligations of the government. |
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| Policies for which Congress has obligated to X level of benefits to Y numbers of recipients. Example Social Security. |
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| House Ways and Means Committee |
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| Writes the tax codes, subject to the approval of the Congress as a whole. Along with the Senate. |
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| Writes the tax codes, subject to the approval of Congress as a whole. Along with the House. |
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| Congressional Budget and Impoundment Control Act of 1974 |
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| An act designed to reform the congressional budgetary process. It's supporters hoped that it would also make Congress less dependent on the president's budget and better able to set and meet it's own budgetary goals. |
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| Binding Congress to a total expenditure level, supposedly the bottom line of all federal spending for all programs. |
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| A congressional process through which program authorizations are revised to achieve required savings. It usually also includes tax or other revenue adjustments |
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| An act of Congress that establishes, continued, or changes a discretionary government programs or an entitlement. It specifies program goals and maximum expenditures for discretionary programs. |
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| An act of Congress that actually funds programs within limits established by authorization bills. Usually covers one year. |
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| When Congress cannot reach agreement and pass appropriaton bilss, these allow agenicies to spend the level the previous years. |
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| Congressional Budget Office |
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| Advises Congress on the probable consequences of it;s budget decisions, forecast revenues and is counterweight to the president. |
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Definition
| All the money borrowed by the federal government over the years and still |
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