In the last 50 years, the federal budget has shifted from a focus on to a focus

Question

In the last 50 years, the federal budget has shifted from a focus on to a focus on Redistribution, defense Infrastructure, defense Defense, redistribution Social security, interest debt If a budget agreement is not met, which of the following is most likely to happen? A budget resolution, allowing items to be funded as they were in the previous budget Budget items without a resolution are defunded The debt ceiling is lifted The government shuts down Entitlement programs are things like Medicare, Medicaid, and social security. They make establishing the budget difficult because, The tax base cannot support these items The amount spent on these items in imprecise, and can vary with the economy There is little political agreement about each specific entitlement program They do not cause difficulty in establishing the budget Although Congress has been close to shutting down the government because there was no budget, a government shutdown has never happened. True False Which of the following have been included outlays (spending) in recent budgets: I Reindeer herders, II An Insect Rearing Facility, III The Sportsman Club I only I and II I, II, and III II and III Ill only The main problem with an annually balanced budget is that: It magnifies the business cycle Since the budget is so complicated, wasteful spending occurs Since the budget is so complicated, it is impossible to make outlays exactly equal to revenue Conservatives refuse to consider balancing the budget Deficits in 2010 and 2011 were greater than $10,000,000 $100,000,000 $1,000,000,000 $1,000,000,000,000 The greatest risk associated with a large national debt is: Default Owing money to foreigners Refinance (interest rate) risk Exchange rate risk

Explanation / Answer

1. From defense to redistribution.

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