Unit Five Lesson Fourteen Government

A spending plan in which the revenues coming into an organization equal its expenditures

• Balanced budget

• Budget surplus

• National debt

• Federal deficit

The amount by which an organization’s revenues exceed its expenditures

• Budget deficit

• Budget surplus

• Regressive tax

• Earmarks

Specific spending proposals that members of Congress attach to legislation, usually to benefit their home districts or states

• Entitlement

• Budget surplus

• Earmarks

• National debt

Benefits that must be provided to all eligible people who seek them; examples include Social Security and Medicare

• Budget surplus

• Federal deficit

• Progressive tax

• Entitlements

The amount by which the national government's annual expenditures exceed its revenues

• Progressive tax

• Federal deficit

• Budget deficit

• Federal budget

The amount of money a country owes to lenders

• Regressive deficit

• Earmarks

• Federal deficit

• National debt

Any tax in which the burden falls more heavily on the rich than the poor

• Progressive tax

• Regressive tax

• Earmarks

• Budget surplus

Any tax in which the burden falls more heavily on the poor than the rich, at least as a percentage of their incomes

• Progressive tax

• Earmarks

• Regressive tax

• Federal tax

Deficit spending occurs when the federal government wants to:

• Strengthen local and state governments

• Fund programs without raising taxes

• Slow spending across all programs

• Stop all government programs during a recession

On which date does the federal fiscal year begin?

• January 1

• November 1

• October 1

• July 1