| A | B |
|---|
| Budget | the detailed outline of government spending |
| Office of Management and Budget | assists the President with preparing the budget |
| Controllable Spending | items in the budget which can be increased or decreased |
| Uncontrollable Spending | items in the budget that must be paid by previous legislative obligation |
| entitlement | money paid to specific individuals because they meet elegibility requirements |
| defense | government spending on the armed forces |
| balanced budget | when revenue is greater than or equal to expenditures |
| deficit spending | the practice of the government's expenditures exceeding revenues |
| item veto | the power of the governor to pass only parts of the budget |
| Governor | proposes the budget at the state level |
| President | proposes the budget at the national level |
| County Manager | proposes the budget at the local level |
| Congress | studies, amends and passes the budget at the national level |
| Board of Supervisors | studies, amends and passes the budget at the local level |
| General Assembly | studies, amends and passes the budget at the state level |
| Keynesian Economics | the liberal economic strategy of "tax and spend" |
| Supply Side Economics | the conservative economic strategy of "trickle dow" |
| Fiscal Conservativism | the moderate economic strategy of balancing the budget |
| Pork Barrel Program | money spent on small projects that benefit a small number of people - usually considered wasted money |
