JEOPARDY #4Ch. 12-15
POT LUCK Won’t
Budge-it!
A Taxing Effort
More Budgetary Concerns
Acting with Resolve!
Number Nuisance
100 100 100 100 100 100
200 200 200 200 200 200
300 300 300 300 300 300
400 400 400 400 400 400
500 500 500 500 500 500
POT LUCK - 100
Term for the practice of providing a spending cut or tax increase in order to fund any
additional programs
POT LUCK - 100
What is “PAYGO” or “pay-as-you-go”?
POT LUCK - 200
Pollock v. Farmer’s Loan and Trust Company (1895)
POT LUCK - 200
What is the Supreme Court decision which declared
income tax unconstitutional?
POT LUCK - 300
Oft proposed in response to the gargantuan deficits of the 1980s and early 1990s, it
would require a congressional SUPERMAJORITY to
authorize deficit spending
POT LUCK - 300
What is the balanced budget amendment?
POT LUCK - 400
As a result of this, beginning in 1985, the government no
longer received a larger share of income when inflation
pushed incomes into higher brackets while the tax rates
stayed the same
POT LUCK - 400
What is INDEXING (taxes were indexed to the cost of living)?
POT LUCK - 500
It’s Congress’s eyes and ears – it audits, monitors, and
evaluates what agencies are doing with their budgets
POT LUCK - 500
What is the GAO (General Accounting Office)
Won’t Budge-It! - 100
1. One is the amount by which spending exceeds revenues
in a single year
2. The other is the total owed by the nation
Won’t Budge-It! - 100
What are the federal DEFICIT and the national DEBT?
Won’t Budge-It! - 200
It’s the executive agency responsible for preparing the president’s budget proposal
Won’t Budge-It! - 200
What is the OMB – Office of Management and Budget?
Won’t Budge-It! - 300
Term which best describes the fact that the best indicator of
this year’s budget is last year’s budget plus a little more
Won’t Budge-It! - 300
What is INCREMENTALISM?
Won’t Budge-It! - 400
It’s how the federal government borrows money from citizens
Won’t Budge-It! - 400
What are BONDS?
Won’t Budge-It! - 500
The first are uncontrollable expenditures -- spending
programs based on formulas, and the second are programs with controllable expenditures
Won’t Budge-It! - 500
What are
1. ENTITLEMENTS (or NONDISCRETIONARY
spending) and
2. DISCRETIONARY spending?
A Taxing Effort - 100
It’s the source of most federal income
A Taxing Effort - 100
What is personal income tax?
A Taxing Effort - 200
It’s where all taxing and spending measures must
begin
A Taxing Effort - 200
What is the House of Representatives?
A Taxing Effort - 300
1. The one taxes those with more income at a higher rate
2. while the other requires those with less to pay a bigger percentage of their income in
taxes
A Taxing Effort - 300
What are
1. Progressive taxes &
2. Regressive taxes?
A Taxing Effort - 400
Often hailed as the “fair” tax because it taxes everyone at the same rate, it is actually
regressive because it takes a greater percentage of total
consumption from lower income people
A Taxing Effort - 400
What is a “flat” tax?
A Taxing Effort - 500
Contrary to popular belief, it is not tax loopholes, but these “revenue losses
attributable to provisions of the federal tax laws which allow special exemption,
exclusion, or deduction” which cost the federal government a substantial sum –
the difference between what the government actually collects and what it
would have collected without special exemptions
A Taxing Effort - 500
What are TAX EXPENDITURES?
More Budgetary Concerns - 100
The rise of the national security state and the rise of the social
service state
More Budgetary Concerns - 100
What are the two conditions most closely associated with
government growth in America?
More Budgetary Concerns - 200
Established by the Budget and Impoundment Control Act of 1974, it checks the OMB’s
facts and figures
More Budgetary Concerns - 200
What is the CBO – Congressional Budget Office?
More Budgetary Concerns - 300
It’s the bill which draws the bottom line on the budget; it’s the means by which Congress
sets limits on expenditures based on revenue projections
More Budgetary Concerns - 300
What is a BUDGET RESOLUTION?
More Budgetary Concerns - 400
It’s the congressional process through which program
authorizations are revised to achieve required savings; it usually also includes tax or other revenue adjustments
More Budgetary Concerns - 400
What is budget RECONCILIATION?
More Budgetary Concerns - 500
1. The one is how Congress establishes, continues, or changes a discretionary program or an entitlement – specifying
program goals and maximum expenditures for discretionary programs;
2. The other is an act of Congress that actually funds programs established by the
limits set above; it usually covers one year.
More Budgetary Concerns - 500
What are
1. Authorization Bills &
2. Appropriations?
Acting with Resolve! - 100
Interim measure which Congress passes to fund the government when it fails to
meet its own budgetary timetable
Acting with Resolve! - 100
What is a CONTINUING RESOLUTION?
Acting with Resolve! - 200
1. Domestic Spending
2. Defense Spending
3. International Spending
Acting with Resolve! - 200
What are 3 key categories of DISCRETIONARY
SPENDING?
Acting with Resolve! - 300
The two Congressional committees that write the tax codes, subject to approval by
Congress as a whole
Acting with Resolve! - 300
What are the House Ways and Means Committee & the
Senate Finance Committee
Acting with Resolve! - 400
The Balanced Budget and Emergency Deficit Control Act
(Gramm-Rudman-Hollings) was an attempt at fiscal responsibility
which mandated maximum allowable deficit levels and
directed the president to order these if Congress failed to meet
deficit goals
Acting with Resolve! - 400
What are automatic across-the-board spending cuts called
SEQUESTRATIONS?
Acting with Resolve! - 500
Prior to this, presidents played a very limited role or none at all in proposing the budget. The
various agencies of the executive branch basically lobbied Congress with their
own budget requests.
Acting with Resolve! - 500
What is the Budget and Accounting Act of 1921?
Number Nuisance - 100
In 1913, this amendment authorized Congress to levy taxes on personal income
Number Nuisance - 100
What is the 16th Amendment?
Number Nuisance - 200
Portion of the federal budget which is nondiscretionary
Number Nuisance - 200
What is 2/3?
Number Nuisance - 300
Year Congress passed the Social Security Act, intended to provide a minimal level of
sustenance to older Americans, thus saving them
from poverty
Number Nuisance - 300
What is 1935?
Number Nuisance - 400
Disability insurance became a part of Social Security in the
1950s. Medicare added hospitalization insurance for
the elderly in this year.
Number Nuisance - 400
What is 1965?
Number Nuisance - 500
These committees and their subcommittees in each house and decide HOW MUCH TO SPEND; they hold hearings on specific agency requests
Number Nuisance - 500
What are the HOUSE and SENATE APPROPRIATIONS
COMMITEES?