| A | B |
|---|
| Prepares and presents the national budget | president |
| manages the spending of the federal government | Congress |
| the government's taxing and spending policies | fiscal policies |
| government's plan for raising and spending money for a year | budget |
| Year that laws were passed giving president responsibility for preparing annual budget | 1921 |
| The budget must be ready | January |
| Congressional work on budget must be complete | October |
| government fiscal year | Oct. 1 to Sept. 30 |
| Amount of individual income taxes in recent years | $1.1 trillion |
| Total revenue of U.S. government in recent years | $2.4 trillion |
| Recent U.S. deficit | $1.2 trillion |
| Total recent U.S. spending | $3.6 trillion |
| Mandagtory government spending | Social Security, Medicare, and Medicaid |
| The study of how people and countries use their resources to produce, distribute, and consume goods and services. | economics |
| Government taxes affect how much people will have loeft to take care of their families | true |
| What taxes provide the government with most of its money | individual income taxes |
| size of the national debt | $14 trillion |
| Size of national debt owed by each man, woman, and child in the country | $46,000 |
| biggest reasons for size of national debt | bad ecnomy and war in Iraq |
| Interest on our national debt | $575 billion |
