AP Gov - The Budget

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Uncontrollable Spending

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Expenditures that the federal government cannot realistically reduce because they are required by law

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Entitlements

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Promises made by the government to an identifiable group of people who are guaranteed benefits

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Mandatory Spending

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Expenditures that the federal government is obligated to make, like entitlements and interest on the national debt

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Monetary Policy

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Influencing the economy through federal interest rates, reserve rates, and the amount of money in circulation

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Fiscal Policy

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Impacting the economy through taxing and spending in the budget.