Key Terms in the Federal Budget

What month does the fiscal year begin?

• July

• October

• January

• April

Which type of spending is decided by the Appropriations Committees?

• Mandatory spending

• Sequestration spending

• Discretionary spending

• Reconciliation spending

What happens if the government runs out of money and a budget isn't passed?

• Continuing resolution

• Shutdown

• Omnibus bill

• Budget surplus

What is a continuing resolution?

• A mandatory spending bill

• A final budget

• A temporary funding measure

• A deficit reduction plan

What is required for a bill to pass in the Senate under normal circumstances?

• 100 votes

• 60 votes

• 51 votes

• 75 votes

What happens if the government spends less than it receives in taxes?

• Sequestration

• Surplus

• Deficit

• Debt increase

What does 'Paygo' stand for?

• Payment governance

• Payroll governance

• Payment gone

• Pay as you go

What is the consequence of not adhering to Paygo rules?

• Increased discretionary spending

• Paygo sequestration

• Automatic tax hikes

• Budget surplus

What is the purpose of sequestration in the federal budget?

• To increase spending

• To reduce deficits

• To extend budget deadlines

• To pass omnibus bills

What does the Budget Control Act primarily enforce?

• Mandatory spending increases

• Spending caps

• Budget surplus

• Tax reductions