| A | B |
|---|
| mandatory spending | spending on certain programs that is mandated, or required, by existing law |
| discretionary spending | spending category about which government planners can make choices |
| entitlement | social welfare programs that people are "entitled to" if they meet certain eligibility requirements |
| Medicaid | entitlement program that benefits low-income families, some people with disabilities, and elderly people in nursing homes |
| operating budget | budget for day-to-day expenses |
| capital budget | budget for major capital, or investment, expenditures |
| balanced budget | budget in which revenues are equal to spending |
| tax exempt | not subject to taxes |
| real property | physical property such as land and buildings |
| personal property | possessions such as jewelry, furniture, and boats |
| tax assessor | an official who evaluates property for the purpose of taxing it |
