AP Gov Federal Budget Webquest


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Unformatted text preview: amount of money the Federal government has borrowed to finance deficit spending over the years. deficit­The difference between the revenues raised annually from sources of income other than borrowing and the expenditures of government, including paying the interest on past borrowing. compound interest­when interest is added to the principal, so that, from that moment on, the interest that has been added also earns interest. revenue the income of a government from taxation, excise duties, customs, or other sources, appropriated to the payment of the public expenses. appropriations funds set aside for a specific purpose public mandatory spending ­ is spending on certain programs that is required by existing law entitlement­ Programs such as unemployment insurance, disaster relief, or disability payments that provide benefits to all eligible citizens. uncontrollable expenditures­Budget items mandated by law or by a previous obligation are known as discretionary spending ­is a spendi...
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This note was uploaded on 02/13/2014 for the course HISTORY AP Governm taught by Professor Richardhoppock during the Fall '12 term at Hayfield Secondary.

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