| A | B |
|---|
| Balanced Budget | policy that advocates that the federal budget spend only as much as it receives |
| Congressional Budget Office (CBO) | set up by COngress; evaluates the cost of legislative proposals |
| Continuing resolution | emergency spending legislation that prevents the shutdown of any dept. simply because the budget has not been enacted |
| Deficit Spending | government meets the budget by borrowing money to pay the bills |
| Direct Tax | money paid directly to the government in the form of income taxes |
| Indirect Tax | money paid to the government as a result of purchased goods (sales tax) |
| Offic of Management and Budget (OMB) | responsible for the preparation of the federal budget; also oversees congressional appropriations |
| Mr. Baker | Your favorite government teacher |
