Budget resolution A resolution made by Congress that binds them to a total

Budget resolution a resolution made by congress that

This preview shows page 1 - 3 out of 4 pages.

Budget resolution - A resolution made by Congress that binds them to a total expenditure level. This is connected to the budget because this affects how the budget is made. Reconciliation - A process in Congress where program authorizations are revised in order to save
Image of page 1
money. This usually comes at the end of the budgetary process. This is connected to revenue because reconciliation can have revenue adjustments in order to save money. Authorization bill - Act of Congress that authorizes programs or entitlements that are a part of the government. This is connected to entitlements because this authorizes those entitlements. Appropriations bill - Gives money to programs that were made by authorization bills. This is connected to the authorization bill because this allows the entitlements that were authorized by the authorization bill to be funded. Continuing resolution - These allow agencies to spend as much money as they did last year when Congress can’t agree on the budget. This is connected to budget because this only happens when Congress is arguing over a budget and can’t decide. Free-trade - Trade where the government doesn’t interfere at all. No taxes. This is connected to a command economy because these are the exact opposites of each other. Keynesian economics - The theory that says government spending and deficits can help the economy with its ups and downs. This is connected with welfare because welfare is government spending that assists people when they need it, which can help with the economy’s ups and downs Welfare - Financial support given to the people who need it. This is connected to Social Security because social security is a form of welfare. Command economy - An economy in which production, investment, prices, and incomes are determined by a government. This is connected to free trade because these two are exact opposites.
Image of page 2
Image of page 3

You've reached the end of your free preview.

Want to read all 4 pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture