Congressional Budget Process

Which of the following is NOT one of the 3 things gov't leaders must determine when making a budget?

• The amount of $ coming into the gov't

• Where the $ they spend will come from

• How much to spend in each area

• How to increase unemployment

When the gov't spends more than they take in, it is called a

• deficit

• surplus

• appropriation

• tax

Most of the $ the gov't spends is raised through interest payments from loans to foreign nations.

• True

• False

_______ makes up most federal spending.

• Defense

• Medicare/Medicaid

• Social Security

• Interest payments on the national debt

The President is supposed to have his budget proposal submitted by

• the first Monday in February

• the first Monday in March

• the Tuesday after the first Monday in November

• January 6

All of the following must agree on the budget EXCEPT

• the House

• the Senate

• the President

• the Judiciary Committee

Article 1, Section 8 give the Congress the power to do all of the following EXCEPT

• lay and collect taxes

• pay debts

• regulate commerce

• nominate and create a Cabinet

Which amendment created the federal income tax?

• 15

• 16

• 17

• 18

The federal budget begins on ____ and ends on ____.

• Oct. 1; Sept. 30

• Sept 1; Aug. 30

• Jan. 1; Dec. 31

• March 1; Feb. 28

The department in charge of assisting the President with creating his budget proposal that is submitted to Congress is the

• OMB

• CBO

• Appropriations Committee

• GDP