AP GOV RQ#4 Flashcards
Expenditures
The government spending/pays for things like medicine, missiles and Medicare
Bonds
Government borrows money from its citizens and pays it back with interest
Tariffs
tax on imports
Taxes
Revenue for the government/the govt gets most of its money from personal income taxes
Uncontrollable Expenditures
Government spending that can’t be stopped
Tax Expenditures
practices that citizens do to save money for the government in the future. Revenue losses from exemptions on federal tax law.
Budget
a policy document allocating taxes and expenditures
Deficit
spending more than you are taking in. More expenditures than revenue taking in.
Federal/National debt
The total amount of money owed to other governments that has not been paid off.
Entitlements
Programs given to the elderly because they were promised by the government (Medicare, Medicaid and Social Security)
Medicare
federal health insurance for anyone age 65 and older, and some people under 65 with certain disabilities or conditions.
Medicaid
a joint federal and state program that provides health coverage for some people with limited income and resources.
Fragmentation
Bureaucratic agencies who compete with each other and hide crucial info from the country. Cause of 9/11.
Deregulation
removal of restrictions on business
Bureaucracy
To implement and regulate government policies