$100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

Types/Impact of Govt. Spending

Federal Expenditures

State & Local Expenditures

Deficit/Surplus/ Debt

Vocabulary

Types/Impact of Govt. Spending Federal Expenditures State & Local Expenditures Deficit/Surplus/ Debt Vocabulary $ $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

Part of the economy made up of federal, state and local governments.

A line item budget expenditure that circumvents normal budget-building procedures.

Government payment to encourage or protect a certain economic activity

C 1 - $400 Way in which the nations income is divided among families, individuals or other designated groups

A transfer payment that one level of government makes C 1 - $500 A transfer payment that one level of government makes to another that does not involve compensation

C 2 - $100 National defense is an example of this type of spending

This is the largest category of Federal Expenditures

program for senior citizens, regardless of income federal health-care program for senior citizens, regardless of income

Joint federal-state medical insurance program for low-income people

Legislation authorizing spending for certain purposes

This is the largest category of state spending

This is the largest spending category of most local governments

C 3 - $300 This level of government is responsible for public utilities such as sewerage and water

This level of government is responsible for police and fire protection

C 3 - $500 A state level constitutional provision requiring that annual spending not exceed revenues

This attempted to trim $500 billion from C 4 - $100 This attempted to trim $500 billion from the deficit over 5 years

C 4 - $200 Legislation intended to establish a balanced budget

The “pay-as-you-go” provision was a feature of which legislation?

All levels of government combined consume how much of GDP?

C 4 - $500 This was an attempt to cancel specific budget items without rejecting the entire budget

Payment for which the government receives neither goods nor services

Spending in excess of revenues collected

made up of individuals and privately C 5 - $300 Part of the economy made up of individuals and privately owned businesses

eligibility requirements C 5 - $400 Social programs that provide services or income to all individuals who meet eligibility requirements

Federal spending authorized by law that continues without the need for annual approvals by Congress

C 1 A - $100 Public Sector $

C 1 A - $200 Pork $

C 1 A - $300 Subsidy $

Distribution of Income C 1 A - $400 Distribution of Income $

C 1 A - $500 Grant-in-aid $

C 2 A - $100 Discretionary Spending $

C 2 A - $200 Social Security $

C 2 A - $300 Medicare $

C 2 A - $400 Medicaid $

C 2 A - $500 Appropriations Bill $

Intergovernmental Expenditures C 3 A - $100 Intergovernmental Expenditures $

Elementary and Secondary Education $

C 3 A - $300 Local Governments $

C 3 A - $400 Local Governments $

C 3 A - $500 Balanced Budget Amendment $

Omnibus Budget Reconciliation Act C 4 A - $100 Omnibus Budget Reconciliation Act                                               $

Gramm-Rudman-Hollings Bill (GRH) C 4 A - $200 Gramm-Rudman-Hollings Bill (GRH) $

Budget Enforcement Act (BEA) C 4 A - $300 Budget Enforcement Act (BEA) $

(Gross Domestic Product) C 4 A - $400 1/3 of GDP (Gross Domestic Product) $

C 4 A - $500 Line-item veto $

C 5 A - $100 Transfer Payment $

C 5 A - $200 Deficit Spending $

C 5 A - $300 Private Sector $

C 5 A - $400 Entitlements $

C 5 A - $500 Mandatory Spending $

Impact of the National Debt FJ Topic Impact of the National Debt $

FJ Question Higher-than-normal interest rates and diminished access to financial capital faced by private borrowers when they compete with government borrowing in financial markets $

FJ Ans Crowding-out effect $

END OF GAME