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Chapter 14: Budgeting > Budgeting > Flashcards

Budgeting Flashcards

1
Q

” who gets what, when, and how;”

This famous d finite on of politics was put forward by Harold Lasswell

A

Politics

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2
Q

Who gets what, when, and how - who said this

A

Harold Lasswell

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3
Q

Some observers concerned that _________ poses a danger to budgeting, because politicians seek to “buy” votes by spending funds on things voters like

A

Democracy

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4
Q

Politicians seek to “buy” votes by spending ____________ on things voters like

A

Public funds

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5
Q

A policy document allocating burdens and benefits

A

Budget

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6
Q

When expenditures exceed revenues

A

Budget deficit

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7
Q

A common name for Congress’s control over federal appropriations

A

The power of the purse

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8
Q

Congress has the ultimate power to determine how much the government will ____________

A

Tax and spend

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9
Q

What will be taxed and spent, and what it will spend taxes for, lies with

A

Congress

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10
Q

Provides small increasing in the current budget over the previous year’s budget; the most prevalent model of budgetary decision making in practice.

A

Incremental budgeting

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11
Q

In the House of Representatives, it is the _________________ that writes tax codes, subject to the approval of Congress as a whole

A

Ways and Means Committee

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12
Q

The _________________ and the senate Finance Committee write the tax codes

A

Ways and Means Committee

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13
Q

A government agency established to assist Congress in making budgeting decisions

A

Congressional Budget Office

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14
Q

Spending bills in Congress originate in the _____________ and their subcommittees

A

Appropriations Committees

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15
Q

An executive agency which prepares the president’ s recommended budget

A

Office of Management and Budget (OMB)

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16
Q

The heads of executive agencies send their budget request to ________

A

OMB

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17
Q

Who prepares a proposed federal budget, with the president making revisions?

A

OMB

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18
Q

The president’s proposed budget is then submitted to ________ for its consideration

A

Congress

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19
Q

Federal agency which audits, monitors, and evaluates the behavior and budgets of executive agencies for congress.

A

General Accounting office

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20
Q

Created a budget committee in each house of Congress; established a fixed budget calendar; and established the Congressional Budget Office

A

Congressional Budget and Impoundment Control Act of 1974

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21
Q

Congress passes this to set limits on expenditures based on revenue projections

A

Budget resolution

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22
Q

The congressional process through which program authorizations are revised to achieve saving

A

Budget reconciliation

23
Q

passed by congress to establish, continue, or change a discretionary government program or an entitlement

A

Authorization bill

24
Q

Passed by Congress to fund a program

A

Appropriations bill

25
Q

Laws that allow agencies to spend at the previous year’s level

A

Continuing resolutions

26
Q

When congress fails to meet its own budget timetable, it’s frequently resorts to __________

A

Continuing resolutions

27
Q

Automatic across the board spending cuts

A

Sequestration

28
Q

The idea that any new programs, or increased spending on existing programs, must be offset by either budget cuts or increased revenues.

A

Pay as you go

29
Q

A tax on the manufacture, transportation, sale, or consumption of a good

A

Excise tax

30
Q

In the early years of the nation, the _________ raised most of its revenue through fees collected on imported goods

A

Federal government

31
Q

The Supreme Court ruled that the income tax was unconstitutional.

A

Pollock v. Farmer’s Loan and Trust Co. (1895)

32
Q

Amendment to the U.S. Constitution permitted the federal income tax

A

Sixteenth Amendment

33
Q

Name given to a tax, if everyone is taxed at the same rate

A

Flat tax

34
Q

A tax system where those with with more taxable income not only pay more taxes but also higher rates of taxes.

A

Progressive tax

35
Q

_________ of income tax revenue comes from taxpayers with the top 10 percent of taxable incomes

A

Two-thirds

36
Q

The four major sources of federal revenue are….

A

Personal income taxes, corporate income taxes, borrowing and social insurances taxes

37
Q

The fastest growing source of federal revenue has been __________

A

Social Security taxes

38
Q

___________ are paid by both employers and employees

A

Social Security taxes

39
Q

________ provide the largest source of federal revenue

A

Income taxes

40
Q

Federal agency created in order to collect the federal income tax

A

International Revenue Service

41
Q

All of the money borrowed by the federal government over the years that still needs to be paid back

A

Federal debt

42
Q

The government borrows money principally by _________

A

Selling bonds

43
Q

A majority of the national debt is currently held by __________

A

Foreign investors

44
Q

The federal government gets most it’s revenue through ______

A

Taxes

45
Q

A term, coined by president Dwight Eisenhower, referring to the link between the military and the defense industry

A

Military industrial complex

46
Q

The purchasing of military hardware

A

Procurement

47
Q

Spending on defense currently makes up _______ percent of all federal expenditures

A

20

48
Q

As a federal program, social security began under ________

A

President Franklin Roosevelt

49
Q

By 1990, the social security system was financed by a payroll of over _______ percent

A

15

50
Q

In 1945, ______ workers supported the social security benefits for one retiree

A

50

51
Q

Currently, _____ workers support the social security benefits for one retiree

A

3

52
Q

The federal program designed to provide health care coverage for older Americans

A

Medicare

53
Q

policies for which congress has obligated itself to pay for certain level of benefits based on a certain number of recipients: for example social Security payments

A

Entitlements

Chapter 14: Budgeting (1 decks)

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