Presentation is loading. Please wait.

Presentation is loading. Please wait.

Governmental Spending

Published byΘαλής Κόρακας Modified over 5 years ago

Similar presentations

Presentation on theme: "Governmental Spending"— Presentation transcript:

1 Governmental Spending
Chapter 10 Review Governmental Spending

2 Budget Reform Measures
Gramm-Rudman-Hollings Bill Congress’ attempt to balance the budget but it failed for 2 reasons Budget Enforcement Act (BEA) Spending in one area must reduce spending in another area Economic Recovery Act Omnibus Budget Reconciliation Act It was an attempt to reduce %500 billion from the deficit over 5 years Increase in taxes and reduction in spending

3 Concepts What is the Federal Government responsible for?
What are the differences between debts and deficits? Deficit is spending more money than you receive in revenue, which is what the government is doing now. Categories of spending at all levels What is the Federal Government responsible for? Social Security National Defense Income security Medicare Medicaid Interest What is the State Government responsible for? Welfare, Bridge Card, Food stamp, public education What is the Local Government responsible for? Elementary and secondary ed; utilities (water, electricity)

4 Federal Deficits and Debt

5 Pg. 285

6 Concepts What is the difference between federal budgets and state budgets? State budgets are balanced but the federal budget is not. They go through a different approval process Federal budget goes through both Houses of Congress and must be approved by both Mandatory Spending Government spending that does not require approval by Congress Discretionary Spending What is it? Government spending that DOES require approval by Congress Examples- National Defense Budget Enforcement Act (1990) What does it do? What are its main provisions?

7 Pg. 285

8 Concepts Transfer Payments Budget Approval System
What are they? They are payments from the government to people What are they used for? Medicare, Medicaid, Social Security What levels of government participate in these? Federal and state Budget Approval System How is the federal budget constructed and approved? The Office of Management and Budget  President  House  Senate President signs or vetoes and goes back to the House

9 Pg.285

10 Concepts “Pay as you go” provisions Crowding out effect
What is the economic effect of this? What role does the Federal Government play?

11 Concepts Government Spending What is an ‘entitlement’?
Level of combined government consumption versus the nation’s GDP. What is an ‘entitlement’?

12 Pg. 269

13

14 Essay Topics How does the Federal debt effect the average citizen? Why should the debt issue be important? Using the graph given, describe why the debt is an important concern.

15 Essay Topics Describe how the crowding out effect, as shown in the graph, affects businesses and individuals.

16 Essay Topics Why is the debt an important issue for the U.S.? Discuss the cost associated with the debt issue.

17 Essay Topics All Presidents have budget priorities. In the passage provided, discuss the budget priorities described.

18 Essay Topics What role, if any, does Social Security play in the debt/deficit issue.

Download ppt "Governmental Spending"

Similar presentations

Government Spending Daniel Camit Derrik Overton Kevin Phipps Billy Raddell.

Government Spending Daniel Camit Derrik Overton Kevin Phipps Billy Raddell.
Government Spending Matt Timmons Vince DAlanno Dan Curtis.

Government Spending Matt Timmons Vince DAlanno Dan Curtis.
Chapter 14 Economic Policy Basic Economic Issues Fiscal Policy Monetary Policy Deficit Spending Budget Process.

Chapter 14 Economic Policy Basic Economic Issues Fiscal Policy Monetary Policy Deficit Spending Budget Process.
CHAPTER 10 GOVERNMENT SPENDING.

CHAPTER 10 GOVERNMENT SPENDING.
Standard SSEMA3b-Explain the government’s taxing and spending decisions.

Standard SSEMA3b-Explain the government’s taxing and spending decisions.
Government Spending Economics Chapter 10 Did you know… Between 1962 and 1993, federal transfer payments to people eligible for benefits because of poverty.

Government Spending Economics Chapter 10 Did you know… Between 1962 and 1993, federal transfer payments to people eligible for benefits because of poverty.
Federal Government Expenditures. Federal Budget –An annual plan outlining proposed revenues and expenditures for the coming year –Consists of: Mandatory.

Federal Government Expenditures. Federal Budget –An annual plan outlining proposed revenues and expenditures for the coming year –Consists of: Mandatory.
Brandon, Jordan, Ricardo, Monica, and Cynthia  The role of the federal government has grown, making it a vital player in the economy.  Incomes are.

Brandon, Jordan, Ricardo, Monica, and Cynthia  The role of the federal government has grown, making it a vital player in the economy.  Incomes are.
Government spending Running the US Government cost this country around $2 Trillions dollars a year. Most of that money comes from taxes and Congress determines.

Government spending Running the US Government cost this country around $2 Trillions dollars a year. Most of that money comes from taxes and Congress determines.
Health Economics Unit 11. 2 Budget of the US Government Fiscal Year 2000 l October 1, 1999 to September 30, 2000 l Total Government Spending is 29% of.

Health Economics Unit Budget of the US Government Fiscal Year 2000 l October 1, 1999 to September 30, 2000 l Total Government Spending is 29% of.
Government Spending Chapter 10.

Government Spending Chapter 10.
 The Federal government  collects money (revenue) and  spends money (expenditures)  The government is important in our economy.

 The Federal government  collects money (revenue) and  spends money (expenditures)  The government is important in our economy.
 The Federal government  collects money (revenue) and  spends money.  The government is important in our economy.

 The Federal government  collects money (revenue) and  spends money.  The government is important in our economy.
Ch. 10 Econ 1. Total gov’t expenditures at all levels was almost $3 trillion in 2003- about $__________ for every American.

Ch. 10 Econ 1. Total gov’t expenditures at all levels was almost $3 trillion in about $__________ for every American.
Federal Budget Process Each year, the president sends a federal budget to Congress. The budget undergoes a lengthy approval process until it is signed.

Federal Budget Process Each year, the president sends a federal budget to Congress. The budget undergoes a lengthy approval process until it is signed.
McGraw-Hill/Irwin © 2002 The McGraw-Hill Companies, Inc., All Rights Reserved. Chapter 9 Federal Spending.

McGraw-Hill/Irwin © 2002 The McGraw-Hill Companies, Inc., All Rights Reserved. Chapter 9 Federal Spending.
Warm-up 5/10/12  Yesterday we talked about welfare programs to help people in need. How does the government pay for these programs?  What limits how.

Warm-up 5/10/12  Yesterday we talked about welfare programs to help people in need. How does the government pay for these programs?  What limits how.
The Economics of Government Spending

The Economics of Government Spending
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.

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.
Budget Plan for managing and spending money. Plan for managing and spending money. Governments create budgets to help them make decisions because of limited.

Budget Plan for managing and spending money. Plan for managing and spending money. Governments create budgets to help them make decisions because of limited.

Similar presentations

Ads by Google