Section 1
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mandatory spending
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Last updated
6 years ago
Date created
Mar 14, 2020
Cards (80)
Section 1
(50 cards)
mandatory spending
government spending that doesn't go through the annual appropriations process because it is tied to a formula that determine the amount to be spent
regulation
the use of governmental authority to control or change some practice in the private sector
medicade
A public assistance program designed to provide health care for poor americans.
office of management and budget (OMB)
government office that manages the federal budget
terrorism
the use of violence by groups against civilians to achieve a political goal
North American Free Trade Agreement (NAFTA)
An international trade agreement among the United States, Canada, and Mexico. To eliminate nearly all barriers to trade and investment
Recession
A slowdown in a nation's economy
Keynesians
Macroeconomists who generally favor activist government policy
monetary policy
The management of the money supply and interest rates
Soft Power
influence in world affairs that derives from the attractiveness to others of a nations culture, products and way of life
nuclear proliferation
the spread of nuclear weapons to new nations
national debt
the total outstanding debt of the federal government. the sum of all annual budget deficits and surpluses
Temporary Assistance for Needy Families (TANF)
federal program by which grants are given to states to fund welfare
Gross Domestic Product (GDP)
A measurement of the total goods and services produced within a country.
payroll taxes
based on employee total earnings and paid to the government by you and your employer
Joint Chiefs of Staff (JCS)
The military officers in charge of each of the armed services
unilateralists
those who believe that the U.S. should go it alone pursung it's national interests without seeking the cooperation of other nations
Federal Reserve Board
the 7-member board governing the Federal Reserve System for deciding the monetary policies of the US
globalization
tendency of information, product, and financial to flow across national borders with the effect of more tightly intergating the global economy
Affordable Care Act (ACA)
Health system reform legislation that introduced significant benefits for patients.
income tax
a tax based on the net income of a person or business
Asymmetric Welfare
unconventional tactics used by a combant against an enemy with superiotr conventional military capabilities
World Trade Organization (WTO)
An agency designed to enforce provision of the general agreement tariffs and trade and to resolve trade disputes between nations
budget surplus
an excess of government receipts over government spending
Cold War
A conflict that was between the US and the Soviet Union. late 1940s to the late 1980s
social security
social insurance program that provide income support for the elderly, those with disabilities, and family survivors of working American
poverty line
an official government measure to define those living in poverty in the United States
General Agreement on Tariffs and Trade (GATT)
An international trade treaty designed to encourage worldwide trade among its members
Earned Income Tax Credit (EITC)
federal tax credits and cash payments for low-income workers
superpower
a nation with the military, political, and economic strength to influence events worldwide
regressive tax
tax that takes a larger percentage of lower incomes than of higher incomes
supplemental nutrition assistance program (SNAP)
a federal program that provides vouchers to the poor to help them buy food
medicare
A federal program of health insurance for persons 65 years of age and older
multilateralists
Those who believe the U.S. should use it's military and diplomatic power in the world in cooperation without nations and international organization
budget deficit
a situation in which the government spends more than it takes in
fiscal policy
Government policy that attempts to manage the economy by controlling taxing and spending.
balance of trade
the difference between payment and receipt between a country and it's trading partners
hegemon
the dominant power in the global economy. Takes responsibility for maintaining and protecting a regional or global system
National Interest
What is of benefit to the nation as a whole
social insurance
gov. program that provide services or income support in proportion to the amount of mandatory contribution made by individual to a gov. trust fund
appropriations committee
committee in the House and Senate that set specific spending levels in the budget for federal program and agencies
progressive tax
tax where percentage of income paid in tax rises as level of income rises
discretionary spending
spending category where government can spend through an appropriations bill
Weapons of Mass Destruction (WMD)
nuclear, biological, and chemical weapons intended to kill or harm on a large scale
Children's Health Insurance Program (CHIP)
A program that provides medical insurance for minimal premiums to children from low-income families.
Deregulation
The cutting back of federal regulation of industry
entitlement
a right to benefits specified especially by law or contract
means-tested programs
social insurance program that requires recipients demonstrate need before getting benefits
global climate change
changes in the climate of Earth; an aspect of global change
negative externalities
by-products of production or consumption that impose costs on third parties
Section 2
(30 cards)