What is discretionary spending in the federal budget?
What is discretionary spending in the federal budget?
Discretionary spending refers to the portion of the budget that is decided by Congress through the annual appropriations process each year. These spending levels are set each year by Congress.
What is discretionary spending in the federal budget quizlet?
Discretionary spending is defined as those areas of the budget that the congress can change year to year and includes the 13 appropriation bills that fund the various agencies of the federal government. Most of the budget goes toward defense, Social Security, and major health programs.
What was the budget deficit in 2012 quizlet?
The Congressional Budget Office said the budget deficit was about $1.1 trillion in fiscal year 2012. That is about $200 billion smaller than in 2011, but still ranks as the fourth-largest deficit since World War II.
Which is an example of federal discretionary spending?
Discretionary spending is what the President and Congress must decide to spend for the next fiscal year through annual appropriations bills. Examples include money for such programs as the FBI, the Coast Guard, housing, education, space exploration, highway construction, defense, and foreign aid.
What is meant by discretionary spending?
Discretionary spending refers to non-essential items, such as recreation and entertainment, that consumers purchase when they have enough income left over after paying the necessary expenses such as the mortgage and utilities.
What are examples of discretionary government spending?
Some examples of areas funded by discretionary spending are national defense, foreign aid, education and transportation.
What is the main goal of creating the federal budget?
The central purpose of the budget process established by the 1974 act is to coordinate the various revenue and spending decisions which are made in separate revenue, appropriations, and other budgetary measures.
How does government spending affect the economy quizlet?
Government spending increases aggregate demand which causes prices to rise. According to law of supply, higher prices encourage more production. To do this, more jobs are created. An increase in demand leads to lower unemployment and increased output.
What were the three largest expenditures in the federal budget in 2012 together about how much of the budget did they make up how much money was that?
Together, about how much of the budget did they make up? How much money was that? Medicare and Medicaid, Social Security, and Defense. They make up just a little more than 60% of the budget.
How much did the US government spend in 2011?
2011 United States federal budget
| Submitted | February 1, 2010 |
|---|---|
| Total expenditures | $3.834 trillion (requested) $3.603 trillion (actual) 23.4% of GDP (actual) |
| Deficit | $1.645 trillion (requested) 10.9% of GDP $1.30 trillion (actual) 8.5% of GDP (actual) |
| Debt | $14.764 trillion (at fiscal end) 96.0% of GDP |
| GDP | $15.379 trillion |
Which of the following is an example of discretionary spending?
