THE WHO, WHAT, WHY, AND HOW OF GOVERNMENT SPENDING Executive and the Economy.

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Presentation transcript:

THE WHO, WHAT, WHY, AND HOW OF GOVERNMENT SPENDING Executive and the Economy

Do You Pay Taxes??? Taxes Buy clothes and CDs? This is SALES TAX Parents own a home? This is PROPERTY TAX REVENUE for the budget

Now that we have money... How do we create a Budget?

Which socio-economic goal is freedom from government control in the economy? A. Economic productivity B. Economic growth C. Economic freedom

Which socio-economic goal increases amounts of goods and service over the long term? A. Economic productivity B. Economic growth C. Economic freedom

Redistributing income fairly to all citizens would be an example of which socio-economic goal? A. Economic equity B. Full employment C. Economic stability

WHO creates the budget? National Level President proposes budget Congress approves Federal Agencies carry out goals and policies State Level Governor proposes budget General Assembly approves Agencies carry out their goals and policies

You can’t have your cake and eat it too... When you spend money on one program to meet a goal, money is not being spent on another. Government spending determines what services are available and effect the health of the economy.

Who proposes government at the federal level? A. Governor B. President C. Congress

The government spends 1 billion dollars on renovating Wicomico Co. high schools, and only 500 million on new roads. What is the money spent on new roads called? A.Economic equity B.Trade-off C.Economic stability

Who approves the budget at the state level? A. General Assembly B. Congress C. Governor

Steps to creating a budget in Maryland Government collects money from tax payers Governor and General Assembly decide how to spend the money Governor checks with agencies to see how much money is needed to enforce laws. A budget is suggested to the General Assembly General Assembly debates different spending priorities and creates a budget Legislative branch passes the budget and needs to be signed by the Governor

Where does the revenue come from? Taxes  Income taxes  Sales tax  Fuel tax Higher Education Federal Funds

Where does the money go? Health Education Public Safety Transportation Human Resources Other