Libs & Cons Flashcards
What is the
basic
characteristic of
federalism?
It divides power between a National Government and State governments.
What is the
approximate
current U.S.
National Debt?
$32 Trillion
What are some
examples of
Entitlements?
Social Security, Medicare, Food Stamps and unemployment compensation
Describe a Swing State?
A state that lacks a consistent pattern of choosing a particular party’s presidential candidate because the two major parties have similar levels of support.
When the Federal Government spends more than it takes in
Deficit financing.
As the head of the Executive Branch, the President has the responsibility _______.
To prepare the Federal Budget
What is Adjusted Gross Income (AGI)?
The amount of income on which a person is taxed after deductions taken for certain expenses such as charitable donations.
What country loans the US the most money?
China
The US has what type of tax system?
Progressive tax system
Basic difference between Liberal and Conservatives?
Conservatives prefer a less active government, while liberals prefer a more active government.
Red states represent…
Conservative/Republican states
Blue states represent…
Liberal/Democratic states
When does the government’s Fiscal Year begin?
October 1st
Who does Medicare provide services to?
The elderly.
Who does Medicaid provide service to?
Low income/Disabled
What is Intrastate Commerce?
Business or economic activity that occurs within the borders of a single state.
What is Interstate Commerce?
Business or economic activity that occurs between multiple states.
Name for money/spending the government cannot change
Mandatory spending
Joe Biden & Barack Obama on the political spectrum.
Liberal
Donald Trump on the political spectrum
Conservative
The average American (Homer Simpson).
Moderate
Tim McVeigh on the political spectrum
Reactionary
Lenin on the political spectrum.
Radical
Amendment that established US income tax
16th
Liberal or Conservative- Strong belief in group responsibility, personal liberties, non-traditional values, and a more activist government in economic and social issues
Liberal
Liberal or Conservative- Strong belief in personal responsibility, traditional values, Laissez Faire, property rights, and a more limited government in economic and social issues
Conservative
An economic system in which private individuals (not government) own most if not all of the resources and decide what will be produced, how it will be produced, and for whom it will be produced.
Free Market
An economic system in which the government owns and controls many, or all of the resources and decides what will be produced through central planning.
Command Economy
An economy that has features of both market and command.
Mixed Economy
Type of economy in the US
Mixed Economy
Spending authorized by Congress yearly. It can be added to or subtracted from.
Discretionary Spending
Which political ideology wants a complete & new change from the Status Quo by any means necessary and will work outside of the system.
Radicals
Which political ideology wants things to go backward from the Status Quo by any means necessary and will work outside of the system.
Reactionaries
Difference between Radicals and Reactionaries.
Radicals and Reactionaries are often similar in WHAT they do but are different in WHY they do it.
Republicans on the political spectrum
Conservative
Democrats on the political spectrum
Liberal
Who determines U.S. monetary policy?
The Federal Reserve
