Create an account
the part of the economy made up of private individuals and privately-owned businesses
distribution of income
the way in which income is allocatedamong families, individuals, or other designated groups in the economy
spending authorized by law that continues without the need for annual approvals of Congress
a 12-month financial planning period that may or may not coincide with the calender year
federal budget surplus
federal budget that shows a positive balance after expenditures are subtracted from revenues
an act of Congress that allows federal agencies to spend money for specific purposes
balanced budget amendment
a constitutional amendment that requires that annual spending not exceed revenues
funds that one level of government transfers to another level for spending
special accounts used to fund specific types of expenditures such as Social Security and medicare
a requirement that new spending proposals or tax cuts must be offset by reductions elsewhere
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