The Budget Quiz

Question 1

What does fiscal mean?

Answer 1

Taxing and spending

Question 2

What is government budget?

Answer 2

Annual appropriations and revenue plan

Question 3

Appropriations

Answer 3

Spending

Question 4

Revenue

Answer 4

How much coming in

Question 5

Largest amount of revenue comes from

Answer 5

Income tax

Question 6

Other words for entitlements

Answer 6

Mandatory spending

Nondiscretionary spending

Question 7

Entitlements are - to change

Answer 7

Difficult

Question 8

What do entitlement programs do

Answer 8

Appropriations programs that pay out to citizens based on their meeting some criteria based on law

Question 9

Entitlements made up what percent of budget in 2016

Answer 9

65%

Question 10

Entitlements are paid - by -. Not - by budget. Only - if - changes.

Answer 10

Automatically, law, changed, change, law

Question 11

3 largest entitlement programs

Answer 11

Social security
Medicare
Medicaid

Question 12

Largest percent of entitlements programs, more budget, more money goes to what faction

Answer 12

Health and human services

Question 13

Discretionary spending

Answer 13

Can be changed through budget process

Question 14

What percent of budget goes to discretionary spending

Answer 14

35%

Question 15

What fraction of discretionary spending is military spending

Answer 15

3/5ths

Question 16

What percent of dis budget is to defense

Answer 16

20%

Question 17

Non defense is what percent of dis spending

Answer 17

15%

Question 18

Until 1970s, - was largest area of appropriations

Answer 18

Defense

Question 19

Deficit

Answer 19

Difference between appropriations and revenue if revenue is lower, per year

Question 20

National debt

Answer 20

Accumulation of deficits over time

Question 21

Interest

Answer 21

Must be added to national budget and paid each year (mandatory)

Question 22

When does budget process for next year begin?

Answer 22

February

Question 23

What is fiscal year (months)

Answer 23

Oct-Sept

Question 24

Who starts budget process? How?

Answer 24

President proposes budget to promote policy agenda

Question 25

Which executive office agency helps president propose agenda? Which congressional staff agency helps?

Answer 25

OMB, CBO

Question 26

Budget resolution passed by? By when?

Answer 26

Budget committee of each house by April

Question 27

What does budget resolution do?

Answer 27

Sets total appropriations limit for the budget, sets appropriations limit for each 20 budgetary functions

Question 28

After budget resolution passed by budget committee of each house…? When does this happen?

Answer 28

Each appropriations committee of each house sets to work to determine how they will specifically spend their assigned portion

April to August

Question 29

When does pork barrel, log rolling, mark ups, ear marks happen?

Answer 29

In appropriations committees

Question 30

Ideally, each committee reports its own appropriations bill to ——-, but, most -, all separate bills of all appropriations committees will be —– referred to as an – to be voted on the - as ——–

Answer 30

Ideally each committee reports out its own appropriations bill to be voted on separately by the house, but most often, all the separate bills of all the appropriations committees will be combined into one large bill referred to as an omnibus bill to be voted on the floor as one vote if not completed by August

Question 31

Omnibus bill is - part of budget and combined - of –

Answer 31

Important, appropriations of different committees

Question 32

Since budget is working its way separately in each house, the house and senate versions of the bill

Answer 32

Versions of the bill will never be identical

Question 33

A - committee will be created to create a – version of the budget that can be approved by both houses

What’s this bill called?

Answer 33

Conference, reconciled version

Compromised bill

Question 34

Pres can - or - bill. He probably won’t - if budget is -.

Answer 34

Veto, sign, veto if budget is late

Question 35

Continuing resolution

Do we end up with this most often?

Answer 35

Passed by congress if budget isn’t approved by beginning of fiscal year (allows fed spending to continue at previous year’s levels)

Yes

Question 36

What happens without continuing resolution?

Answer 36

Govt will shut down without cont res or budget