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Chapter 14 Vocabulary Quiz

Some answers may be part of words or acronyms. Good luck!

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6.A bill and act of Congress that actually funds programs within limits
7.Amendment that explicitly permitted Congress to levy an income tax.
9.Policies for which Congress has obligated itself to pay X level of benefits to Y number of recipients.
11.A policy document allocating taxes and expenditures.
12.Binds Congress to a total expenditure level; the bottom line of all federal spending for all programs. (2 Words)
14.Revenue losses that result from special exemptions, exclusions, or deductions on federal tax law. (2 Words)
16.Designed to reform the congressional budgetary process by setting up a fixed budget calendar, a budget committee in each house, and the CBO.
18.Mandated maximum allowable deficit levels for each year until 1993.
19.A congressional process through which program authorizations are revised to achieve required savings.
20.When Congress cannot reach agreement and pass appropriations bills, these resolutions allow agencies to spend at the level of the previous year.
21.A bill and act of Congress that establishes, continues, or changes a discretionary government program or an entitlement.
22.A committee in the Senate that writes the tax codes subject to the approval of the entire Congress.
23.Shares of individual wages and corporate revenues collected by the government. (2 Words)
24.A committee in the House of Representatives that writes the tax codes, subject to the approval of the entire Congress.
26.Act passed in 1965 that provides both hospital and physician coverage to the elderly.
1.An excess of federal expenditures over federal revenues.
2.All the money borrowed by the federal government over the years. (2 Words)
3.Tax in which everyone pays the same rate of tax
4.A phrase coined by President Eisenhower that describes the close relationship between the military hierarchy and the defense industry that supplies its hardware needs. (2 Words)
5.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.
8.Responsible for the organization of the federal budget.
10.The financial resources of the government.
13.The best predictor of this year’s budget is last year’s budget plus a little bit more.
14.Eliminated or reduced the value of many tax deductions, several million low-income individuals from the tax rolls, and the number of tax brackets. (3 Words)
15.Government spending of revenues.
16.Advises congress on the probable consequences of its decisions, forecasts revenues, and is a counterweight to the president’s Office of Management and Budget.
17.Tax in which citizens with more taxable income pay higher rates of tax on their income.
25.Passed in 1935 which intended to provide a minimal level of sustenance to older Americans.

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