Revenue Scarcity-Revenue is limited, so government  must make choices about spending-setting priorities-Political Party go...
Budgets-Budgets are a plan for spending the  government’s money-Revenue or receipts-- Economic  term for the money that is...
Drafting a Budget-drafting a budget is a long process-executive branch prepares most of  the budget-expenditures are often...
Drafting a Budget-drafting a budget is a long process-executive branch prepares most of  the budget-expenditures are often...
Approving a Budget-Budgets must be passed by the  legislative branch-serves as a check on the  government’s spending power...
State & Local Budgets-Similar budget process as Federal  Government-May be of a much smaller scale-May be more important t...
Expenditures-Expenses change each year-Most larges expenses change very  little Social Security, National Defense, Medicar...
Budget Deficits-Limited Revenues, but unlimited  places to spend money-Some spending is actually borrowed  money to pay fo...
Balancing Budgets-Balanced Budget-- Idea that a  budget should never spend more  money than it has received-Federal Govern...
Revenue Sharing-Governments sometimes help one  another with funding problems -Intergovernmental Revenue-Governments can r...
Upcoming SlideShare
Loading in …5
×

63 government budgets

286 views

Published on

Published in: Business, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
286
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

63 government budgets

  1. 1. Revenue Scarcity-Revenue is limited, so government must make choices about spending-setting priorities-Political Party goals
  2. 2. Budgets-Budgets are a plan for spending the government’s money-Revenue or receipts-- Economic term for the money that is received-Expenditures-- Economic term for the money that is spent-Most budgets are one year budgets -fiscal year
  3. 3. Drafting a Budget-drafting a budget is a long process-executive branch prepares most of the budget-expenditures are often based upon the President, Governor, or local leader’s goals
  4. 4. Drafting a Budget-drafting a budget is a long process-executive branch prepares most of the budget-expenditures are often based upon the President, Governor, or local leader’s goals
  5. 5. Approving a Budget-Budgets must be passed by the legislative branch-serves as a check on the government’s spending power-Goals of Congressmen may conflict with budget proposals-Final version is often a series of compromises
  6. 6. State & Local Budgets-Similar budget process as Federal Government-May be of a much smaller scale-May be more important to citizens of the community than federal budget
  7. 7. Expenditures-Expenses change each year-Most larges expenses change very little Social Security, National Defense, Medicare, and Interest on National Debt-Local and State Governments Education, Social Services, Transportation, and Public Safety
  8. 8. Budget Deficits-Limited Revenues, but unlimited places to spend money-Some spending is actually borrowed money to pay for expenses Bonds-Effects of National Debt
  9. 9. Balancing Budgets-Balanced Budget-- Idea that a budget should never spend more money than it has received-Federal Government has a history of high budget deficits since the 1980’s leading to a high national debt-Most states and local government are required to balance their budgets
  10. 10. Revenue Sharing-Governments sometimes help one another with funding problems -Intergovernmental Revenue-Governments can receive grants to help solve problems -Federal Grant-In-Aid-Federally mandated programs and funding is a problem for many local and state gov’ts

×