Chapter 22 Section 1 & 2 Mr. Holmes December 8, 2012.

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Presentation transcript:

Chapter 22 Section 1 & 2 Mr. Holmes December 8, 2012

Budgeting The fiscal year for the government runs from 10/1 to 9/30. Spending falls into two categories: Mandatory: What they have to spend Discretionary: Things that the federal government can choose.

It’s all about the money… Revenue Expenditures Taxes 3 categories: Proportional Progressive Regressive Biggest spending items Defense Social Security Income Security Medicare Medicaid Interest on Debt

State Budget Revenue Expenditures Federal Government Sales Tax Public Welfare Education

Local Government Revenue Expenditure Property Tax State Government Fire Police Schools Roads Sewers Trash

Does this show a surplus or deficit?

What is wrong with federal debt?

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2009 Stimulus In 2009, President Obama asked Congress to pass a stimulus to help Americans during the Depression. Americans today still argue if it was a good use of money or a waste of money.