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Standard SSEMA3b-Explain the government’s taxing and spending decisions.

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Presentation on theme: "Standard SSEMA3b-Explain the government’s taxing and spending decisions."— Presentation transcript:

1 Standard SSEMA3b-Explain the government’s taxing and spending decisions

2 Ways of Spending Purchase- government buys goods and services as well as pays wages and salaries Transfer- payment where no good or service is received in return

3 Types of Spending Discretionary- must receive authorization by the House Mandatory- spending authorized by law

4 Biggest spending categories 1. Defense 2. Healthcare 3. Social Security

5 Impact of Spending Resource Allocation Redistribution of income Competing with private Sector

6 How is the budget set? Senate Must approve the bill sent by the House House Approve, modify, or disapprove Set initial budget targets for spending Executive President establishes the budget

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