Chapter Fourteen

Question 1

Budget

Answer 1

a policy document allocating burdens (taxes) and benefits (expidentures)

Question 2

Deficit

Answer 2

An excess of federal expidentures over federal revenues

Question 3

Expidenture

Answer 3

Federal spending of revenues.

Question 4

Revenues

Answer 4

The financial resources of the federal government.

Question 5

Income Tax

Answer 5

Shares of individual wages and corporate revenues collected by the government. The Sixteenth Amendment explicitly authorized Congress to levy a tax on income.

Question 6

Sixteenth Amendment

Answer 6

The constitutional amendment adopted in 1913 that explicitly permitted Congress to levy an income tax.

Question 7

Federal Debt

Answer 7

Federal Debt all the money borrowed by the federal government over the years and still outstanding

Question 8

Incrementalism

Answer 8

A description of the budget process where the best predictor of this year’s budget is last year’s budget, plus a little more.

Question 9

Uncontrolled Expidentures

Answer 9

Expenditures that are determined not by a fixed amount of money appropriated by Congress but by how many eligible beneficiaries there are for a program or by previous obligations of the government.

Question 10

Entitlements

Answer 10

Policies for which Congress has obligated itself to pay X level of benefits to Y number of recipients. Social Security benefits are an example.