Bipartisanship
Support from both parties policy
Budget Deficit
Results when federal expenditures exceed federal revenues for a period of one year
Deficit Spending
The federal government's practice of spending more money than it takes in as revenue.
Deregulation
Elimination of federal regulations on private companies.
Discretionary Spending
Refers to spending set by annual appropriation levels made by decision of congress annually. This spending is optional and in contrast to entitlement programs for which funding is mandatory.
Entitlements.
Federal benefit payment to which recipients have legal right. ex social security.
Fiscal Policy
Taxing and spending policies.
Mandatory Spending
Refers to funds not controlled by annual decision of congress. These funds are automatically obligated by virtue of previously enacted laws.
Means Testing
Requiring that those who receive federal benefits show a need for them.
Monetary Policy
Fderal Reserve Board's regulation of the supply of money in circulation.
National Debt
Total debt owed by the federal government due to past borrowing. also known as public debt.
Nondiscretionary Spending
Non discretionary spendng is spending that's required by law, congress would have to change a law to change the spending. EX. Social Security.
Subsidy
Federal financial aid to individuals. ex Welfare, food stamps.