Federal Budget & GDP

The majority of mandatory spending is related to ______________.

• Congressional salaries

• Social Security & Medicare

• Defense

• National Parks

In 2022, the US Government estimated the US deficit would be approximately what?

• $1.8 million

• $180,000

• $1.8 trillion

• $1.8 billion

What is the largest area that the Federal Government spends its Discretionary funds?

• Education

• Foreign Aid

• National Parks

• The Military

What does "deficit" mean?

• It is when something is very wrong.

• It is the difference between the amount of revenue collected and the money spent.

• It is the money that the government spends.

How does the Deficit contribute to the National Debt?

• It doesn't

• It gives tickets to the next upcoming Commanders season.

• The deficit is added to the US debt each year.

Spending required by law is known as

• discretionary spending

• mandatory spending

• federal spending

• surplus spending

Which of the following NOT considered mandatory spending?

• national parks

• Medicare

• medical assistance for low-income families

• Social Security

Discretionary spending is spending that

• can be adjusted

• is required by law

• must be approved because it has been requested by the President

A majority of the Federal Government's income comes from:

• Sales Tax

• Corporate Tax

• Borrowing

• Income Tax

The problem social security is facing today is

• there are too many workers

• there are too many people that are retired

• congress can cut it whenever they want since it is discretionary spending

• social security does not have problems at this time