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Chapter 14: Federal Budget

Horizontales
this type of spending can be raised or lowered by Congress
this type of tax is regressive
the role of this is to compare how the president's budget matches its own estimate of future revenues
this type of spending occurs when the federal government wants to fund programs without raising taxes
Verticales
the largest source of federal income comes from this source of taxes
this type of tax is charged by state and local, but not the federal government
food stamps, housing subsidies and welfare payments are this type of spending
this is the type of budget you have if your revenue exceeds your expenditures
deficit spending makes this rise
these governments are often required to balance budgets