Chapter 14 Notes

Purpose: To guide you in your chapter notes.

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Directions: Short answer questions should be a minimum of 5 sentences. Definitions should be accompanied by one sentence explain why the definition is significant to government. Chapter 14 The Congress, The President, and the Budget Sources of Federal Revenue What are the three main sources of federal revenue (money)? What are two views on the national debt? What is your point of view? Summarize how taxes working, including tax loopholes, expenditures, tax reduction, and tax reform. (10 sentences) - Budget - Deficit - Expenditures - Revenues - Income Tax - 16th Amendment - Federal debt - Tax expenditures Federal Expenditures Why is the government budget so big? Where does the money go? Why is it difficult to control federal expenditures? What is the role of military spending today? Does this reflect a small or large scope of government? (8-10 sentences) - Social Security Act - Medicare - Incrementalism - Uncontrolled expenditures - Entitlements The Budgetary Process Considering the players which are the three most important players that will determine the budgets and why? How did the Congressional Budget and Impoundment Control Act change how Congress worked on its budget? Was it successful? Explain. (At least 10 sentences) - House Ways and Means Committee - Senate Finance Committee - Congressional Budget and Impoundment Control Act of 1974 - Congressional Budget Office (CBO) - Budget resolution - Reconciliation - Authorization bill - Appropriations bill - Continuing Resolutions Understanding Budgeting Summarize your overall understanding of the budget and how it works in 5 sentences.

Homework that is not completed will result in an F in the class, detention, and you will have to come to office hours.