Transcript of Government spending Running the US Government cost this country around $2 Trillions dollars a year....
- Slide 1
- Government spending Running the US Government cost this country
around $2 Trillions dollars a year. Most of that money comes from
taxes and Congress determines where that money comes from and in
what way that money is spent. All revenue spending bills originate
in the House and Ways Committee.
- Slide 2
- Entitlements What is an entitlement? An entitlement is
considered to be an uncontrollable expenditure in legislature!
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- Entitlement An entitlement is a guarantee of access to benefits
based on established rights or by legislation. Major Examples:
Social Security, Medicare, Medicaid. Welfare, Unemployment,
Pensions Other Examples are: Veterans' Administration programs,
federal employee and military retirement plans, unemployment
compensation, food stamps, and agricultural price support programs.
Account for 53% of the US budget.
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- Uncontrollables Spending that Congress and the President have
no power to change directly. Uncontrollables and Entitlements are
often the same thing. The were created through prior legislation
and legally they are required to obligate to them until legislation
is changed. Uncontrollables account for 70% of all government
spending! The Prime examples are: A. Interest payments on the
national debt. B. Spending decisions made in the current year. C.
Approximately half of the government spending in the United States.
D. Welfare benefits but not unemployment benefits. **Uncontrollable
Expenditures has a controversial definition as a Congress-person
and a citizen may view it differently.