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

Types/Impact of Govt. Spending

Federal Expenditures

State & Local Expenditures

Deficit/Surplus/ Debt

Vocabulary

Types/Impac t of Govt. Spending FederalExpenditures State & Local ExpendituresDeficit/Surplus/Debt Vocabulary $100 $300 $200 $400 $500 $

C 1 - $100 Part of the economy made up of federal, state and local governments.

C 1 - $200 A line item budget expenditure that circumvents normal budget-building procedures.

C 1 - $300 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

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

C 2 - $200 This is the largest category of Federal Expenditures

C 2 - $300 federal health-care program for senior citizens, regardless of income

C 2 - $400 Joint federal-state medical insurance program for low-income people

C 2 - $500 Legislation authorizing spending for certain purposes

C 3 - $100 This is the largest category of state spending

C 3 - $200 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

C 3 - $400 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

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

C 4 - $300 The “pay-as-you-go” provision was a feature of which legislation?

C 4 - $400 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

C 5 - $100 Payment for which the government receives neither goods nor services

C 5 - $200 Spending in excess of revenues collected

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

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

C 5 - $500 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 $

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 $

C 3 A - $100 Intergovernmental Expenditures $

C 3 A - $200 Elementary and Secondary Education $

C 3 A - $300 Local Governments $

C 3 A - $400 Local Governments $

C 3 A - $500 Balanced Budget Amendment $

C 4 A - $100 Omnibus Budget Reconciliation Act $

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

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

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 $MandatorySpending

Impact of the National Debt $ FJ Topic

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