| Term | Definition |
|---|
| bipartisanship | support from both parties for policy (ex: a bipartisan foreign policy) |
| budget deficit | results when federal expenditures exceed federal revenues for a one year period |
| deficit spending | the federal government's practice of spending more money than it takes in as revenues |
| deregulation | elimination of federal regulations on private companies |
| entitlements | federal benefit payments to which recipients have a legal right (ex: social security) aka uncontrollables |
| fiscal policy | taxing and spending policies |
| means testing | requiring that those who recieve federal benefits show a need for them |
| monetary policy | federal reserve board's regulation of the supply of money in circulation |
| national debt | total debt owed by the federal government due to past borrowing aka public debt |
| subsidy | federal financial aid to individuals (ex: welfare, food stamps, agricultural subsidies) |
Combine with other sets
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