Oct 23 – Gov – The Budget Agenda: Debrief Activity Notes: The Budget IOUSA Homework: Read and take notes on chapter 13.3 and 13.4 (461-469) Take Out: Pen/Pencil.

Slides:

Advertisements

Similar presentations

CONGRESSIONAL BUDGET OFFICE Total Revenues and Outlays Percentage of GDP Revenues: Funds collected from the public that come from a variety of sources,

Advertisements

Election Implications for Asphalt Contractors NAPA Webinar November 15, 2012.

Chapter Sixteen: Deficits and Debt. Deficits and National Debt.

Lame Duck Session. ISSUES BEFORE CONGRESS DURING THE LAME DUCK SESSION Allowing current law to stand * results in deficit reduction of: – $ 7.8 T over.

The Fiscal Cliff and Beyond Joel Packer, Principal, The Raben Group; and Executive Director, Committee for Education Funding.

Budget, Deficit, Debt By PresenterMedia.com PresenterMedia.com.

Does the U.S really have a debt crisis? wgbh/pages/frontlin e/tentrillion/view/

Deficits and Debt. The Budget Process Taxes, especially personal income taxes, provide most of the federal government’s revenue.  The federal budget.

Introduction to Macroeconomics

The Concord Coalition June 2008 Generational Outlook: The Federal Budget Now and in the Future.

THE FEDERAL BUDGET How much power does the President have over the federal budget?

THE CONCORD COALITION presented by Jeffrey S. Thiebert, National Grassroots Director THE CONCORD COALITION

1 America’s National Debt. 2 Important Concepts What’s the difference between deficits and debt? Deficits: The annual imbalance between revenues and spending.

The Congress, the President, and the Budget: The Politics of Taxing and Spending Chapter 14.

US Fiscal Policy Challenges to a Sustainable Fiscal Future March 2010.

The Budget Control Act of 2011 The New Debt Deal Presenter: Ann Sullivan, Madison Services Group, Inc. Date: August 2, 2011.

Federal Revenues and Expenditures Chapter 14 Sections 1,2, and 3 pp

Fiscal policy Focus –Spending distinguish between purchases and spending or outlays or expenditures –Tax revenues distinguish between tax rates and.

1 Federal Deficits, Surpluses and the National Debt Economics for Today by Irvin Tucker, 6 th edition ©2009 South-Western College Publishing.

Sources of Federal Revenue Chapter 14 pp

THE CONCORD COALITION The Federal Budget Now and In the Future presented by Joshua Gordon, Policy Director.

A multiple-choice question (from Regis Philbin’s show): What is the best thing to do with the budget surplus? –(a) Reduce the debt –(b) Increase government.

Deficit Negotiations and the Supercommittee Ron Haskins October 19, 2011.

THE CONCORD COALITION Generational Outlook: The Federal Budget Now and in the Future presented by Joshua.

Presented by Robert L. Bixby, Executive Director The Concord Coalition Daunting Budget Outlook United States Naval Academy March.

The Congress, the President, and the Budget: The Politics of Taxing and Spending Chapter 14.

The use of government spending and taxing to achieve economic growth, full employment and stable prices. FISCAL POLICY Chapter 15.

ECONOMIC POLICY A BRIEF OVERVIEW HONORS GOVERNMENT.

THE CONCORD COALITION presented by Robert L. Bixby, Executive Director THE CONCORD COALITION Fiscal Future:

Creating the Federal Budget: Congress & The President.

Presented by Phil Smith, National Political Director The Concord Coalition December 3, 2008 La Grange,

1 The Federal Budget Past – Present – Uncertain Future Stanford Institute for Economic Policy Research G. William Hoagland March 9, 2012.

The Congress, the President, and the Budget: The Politics of Taxing and Spending.

National Debt v. Budget Deficit. Government Spending Vocab terms related to National Debt & Budget Deficit Revenue = money collected by the government.

Deficit vs. Debt Deficit: how much more Government spends than it receives in tax revenue over 1- year Debt: total amount Government owes (has borrowed.

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 Chapter 14.

Group 2 Chih-Mei Shen & Nancy Briana Lόpez Hodgson.

Policy Matters Ohio Instructions for the Super Committee: a balanced approach to debt reduction That does not increase poverty.

Creating a Budget Chapter 14. Budget Process Deficit v. Surplus Deficit occurs when expenditures exceed revenues in a year – $1.3 trillion in 2010 Surplus.

THE CONCORD COALITION presented by Robert L. Bixby, Executive Director THE CONCORD COALITION Fiscal Solutions.

Raising Money Types of Taxes Managing the Country’s Money.

Making Public Policy. Economic Policy and the Budget Key Concepts-  Politicians & economists have conflicting views on how to regulate the economy 

Unit IV – Legislative & Executive Taxing & Spending: The Budget Process.

CHAPTER 16 FINANCING GOVERNMENT - THE BUDGET.  Taxes  Progressive Taxes – get bigger the more money you make  Income Tax  Regressive Taxes – the same.

Today’s Schedule – 11/22 Budget Deficits and National Debt Economic Cartoon HW – Read 16.2: Federal Reserve – Study for Ch. 14/15 Quiz.

SOME BASIC INFORMATION Policy document allocating burdens and benefits FEDERAL gov. funds a substantial and diverse range of programs and activities from.

Governments & Fiscal Policy Three levels of government: 1.Federal (USA) 2.State (NH) 3.Local (Merrimack) Fiscal Policy = plan for how governments gain.

Budget Deficit and National Debt A budget deficit exists when the federal government spends more than they are receiving in revenues within the year. When.

Chapter Twenty Five The Government and Fiscal Policy.

Making Economic Policy Wilson 18B. Fragmented System  Troika  Chairman of Council of Economic Advisors  Director of the Office of Management and Budget.

THE CONCORD COALITION presented by Robert L. Bixby, Executive Director THE CONCORD COALITION Fiscal Future:

Spending. I. Where the money is spent (2010 figures): A. Medicare & Medicaid: 23% B. Social Security: 20% C. Net Interest payments: 6% D. Defense: 20%

U.S. Debt and Deficit USA TODAY I 11/11/2012. How much does the USA owe? Approx. 16 trillion USD 16,000,000,000,000 USD 320,000,000,000,000 CZK Approx.

Copyright © 2009 Pearson Education, Inc. Publishing as Longman. The Congress, the President, and the Budget: The Politics of Taxing and Spending Chapter.

BORROWING MONEY AND PUBLIC DEBT. HOW DOES THE GOVERNMENT BORROW MONEY?  Article 1, Section 8, Clause 2 gives congress the power to “borrow money on the.

Financing the Government. Taxes and Revenue Progressive tax – the higher the income, the higher the rate Payroll taxes – taxes matched by employers Regressive.

Chapter 7: The Executive Branch at Work Section 3: Financing Government (pgs )

1 Federal Deficits, Surpluses and the National Debt ©2006 South-Western College Publishing.

Deficits and the Debt GOVT Module 16.

Creating the Federal Budget:

Where your money goes Chapter 10.2 & 10.3.

Chapter 18 Economic Policy.

BUDGET STUDENT NOTES.

The Congress, the President, and the Budget: The Politics of Taxing and Spending Chapter 14.

Deficits and the Debt November 28, 2017.

The Congress, the president, and the budget

Financing Government Chapter 16.

Presentation transcript:

Oct 23 – Gov – The Budget Agenda: Debrief Activity Notes: The Budget IOUSA Homework: Read and take notes on chapter 13.3 and 13.4 ( ) Take Out: Pen/Pencil Notebook Budget Worksheet –Paragraph Explanation

Debrief Where did you cut the most? What was the cost (for the department, etc)? What challenges did you face in creating your spending plan? Anything you didn’t expect? Anything you found especially surprising or frustrating? What was most expensive? What did you increase?

Debrief Which department deals with Medicare/Medicaid? FEMA/Secret Service? Immigration? Biggest expense for the Treasury?

Taxes, Entitlements, and Economic Policy Where the Money Comes From And Where it goes…

FY2012 Income and Outlays Income Tax Payroll Tax Borrowing (Bonds)

Entitlements Entitlements (uncontrollables) –Federal money that is Provided to those who meet eligibility requirements Is automatically spent each year without Congressional review –Examples: Social Security, Medicare, Federal Pensions Account for more than 2/3 of the federal budget –So how do we balance the budget?

IOUSA: Solutions As you watch, make a “To Do List” for solutions for the budget crisis. To do –For you –For Congress –For others (Interest groups, industries, etc.) What will Republicans have to give up? What will Democrats have to give up?

Deficits and Surpluses in Constant Dollars as percentage of GDP (in billions)

Current Stats The national debt on November 18, 2013: $17,074,260,390,145 Your share of the national debt: $53,766 But that’s not as bad as the 1,239,582,053,932 last year 795,328,011,625 more than last year at this time!

$ 1,239,582,053,932.00

What have we done? Budget Control Act of 2011 –Budget Supercommittee –Sequester

Budget deficits, projected through The "CBO Baseline" shows the effects of the fiscal cliff under current law. The "Alternative Scenario" represents what would happen if Congress extends the Bush tax cuts and repeals the Budget Control Act-mandated spending reductions beyond the end of 2012.