Econ 6 - 2

1234567891011121314
Across
  1. 2. mandatory spending - government health insurance for low income people under the age of 65.
  2. 6. transfer payment or mandatory spending providing monthly income to senior citizens
  3. 7. mandatory spending - government health insurance for senior citizens over the age of 65
  4. 9. expenditures authorized by law - continues without congressional approval - like Social Security
  5. 13. higher interest rates caused by heavy government borrowing - locking out the consumer
  6. 14. government spending that exceeds revenues for a given year causing a budget deficit
Down
  1. 1. legal limits on annual discretionary spending - helping congress to balance budget
  2. 3. result of grants in aid and funds that one level of government transfers to another for projects - services expenses
  3. 4. proposed idea requiring government spending - not to exceed revenues
  4. 5. special government accounts used to fund mandatory spending - social security and medicare
  5. 8. any new spending - tax cuts must be offset by reductions elsewhere in the budget
  6. 10. guaranteed government programs - mandatory spending making it difficult to balance the budget - programs are very popular among the citizens and voters
  7. 11. overall money owed by federal government - caused by deficit spending from year to year
  8. 12. president can veto certain parts of a bill - the rest can still become a law - cut spending