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Chapter 10
 

Chapter 10

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    Chapter 10 Chapter 10 Presentation Transcript

    • Chapter 10:The Economics of Government Spending
    • 10-1: The Economics of Taxation
      • Government Spending in Perspective
      • Public sector spending was low prior to the Great Depression
      • Video - The New Deal
    • John Stossel in the Classroom
      2008 Pig Book
      "Fighting for the interests of my constituents“
    • Two types of government spending
      Purchase of goods and services
      Tanks, planes, ships, space shuttle
      Office buildings, parks, schools
      Supplies, utilities
      Employees
      Transfer payments
      Can be made to an individual
      Social Security, Welfare, Medicare, etc.
      Can be made to another level of government
      Called a grant-in-aid
      Necessary for large construction projects
    • Impact of Government Spending
      Resource Allocation
      Redistribution of Income
      Competition with the Private Sector
      Increasing the Tax Burden
    • 10-2: Federal, State and Local Government Expenditures
      Federal Expenditures
      Fiscal year or budget year for U.S. Gov’t is 10/1 – 9/30
      Appropriations bill is an act of Congress that allows federal agencies to spend money for a specific purpose.
      Mandatory spending is spending authorized by law that continues without the need for annual approvals by Congress, such as Social Security.
      Discretionary spending must be approved by Congress in the annual budgetary process, such as defense spending.
    • 10-3: Deficits, Surpluses and the National Debt
      Why you should care about the national debt
      Video - Debt auction
      Video - Interest on debt
      Video - Jon Stewart