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Spending Policy
| Question | Answer |
|---|---|
| Agency that audits, monitors, and evaluates what agencies are doing with their budgets | General Accounting Office |
| Funds programs within limits established in an authorization bill; usually covers one year | Appropriations bill |
| Binds Congress to a total expenditure level, supposedly the bottom line of all federal spending for all programs | Budget resolution |
| Phrase coined by President Eisenhower to characterize the close relationship between the Pentagon and defense industry | Military industrial complex |
| Agency that advises Congress on the budget process | Congressional Budget Office |
| A program that provides hospitalization insurance for the elderly and permits older Americans to purchase inexpensive coverage for doctor fees and other health expenses | Medicare |
| Establishes, continues, or changes a discretionary government program or an entitlement; specifies program goals and maximum expenditures for discretionary programs | Authorization bill |
| Automatic across-the-board spending cuts mandated by the Gramm-Rudman-Hollings bill if Congress couldn't meet the deficit goals | Sequestration |
| Designed to reform the budgetary process by establishing a budget calendar and created the CBO | Congressional Budget and Impoundment Control Act |
| Committee that approves funding programs within limits established by authorization bills | Appropriations Committee |
| When appropriations bill have been lumped together in one bill, instead of the 13 separate appropriations bills, forcing the president to accept or veto the funding | Omnibus spending bills |
| Initiatives backed by Lyndon Johnson that expanded America's social services and created many new programs designed to aid the poor | Society |
| Law intended to provide a minimal level of sustenance for older Americans | Social Security Act |
| The type of spending on entitlement program such as Medicare | "Pay as you go" |
| Senate committee that writes the tax code | Finance |
| Policies for which Congress has obligated itself to pay X level of benefits to Y numbers of recipients | Entitlements |
| Executive agency responsible for creating the President's budget proposal | Office of Management and Budget |
| House committee that writes the tax code | Ways and Means |
| Mandated maximum allowable deficit for each year for eight years until there was supposed to be a balanced budget | Gramm-Rudman-Hollings |
| This allows agencies to spend at the level of the previous year when Congress cannot reach agreement and pass appropriations bills | Continuing resolution |
| The belief that the best predictor of this year's budget is last year's budget plus a little bit more | Incrementalism |
| The total market value of all final goods and services produced within a country | Gross Domestic Product |
| Determined not by a fixed amount of money appropriated by Congress, but by how many eligible beneficiaries there are for a program or by previous obligations of the government | Mandatory spending |
| Process through which program authorizations are revised to achieve required savings; usually includes tax or other revenue adjustments | Reconciliation |
Created by:
betsynewmark