Fiscal Responsibility. Indiana State Revenue. Pg. 386 #6 Identify at least three kinds of state taxes and fees that businesses pay. Pg. 386 #9 What are the main sources of state revenue? Skip B. Make Up of State Budget. Pg. 386 #4. Entitlements.
Pg. 386 #6
Identify at least three kinds of state taxes and fees that businesses pay.
Pg. 386 #9
What are the main sources of state revenue?
Pg. 386 #4
* People learn to expect these benefits because they are guaranteed under certain conditions. *
Pg. 380 #8
Pg. 380 #5 ; Whose retirements are funded by the money today’s wage earners are now paying into Social Security?
Needy Seniors or Greedy Geezers
Pg. 380 #9
What problems do entitlement programs cause?
b. Why might it be difficult for lawmakers to make changes to entitlement programs?
“Don’t ever argue with me [about health]. I’ll go a hundred million or billion on health or education. I don’t argue about that any more than I argue about Lady Bird [Mrs. Johnson] buying flour. You go to have flour and coffee in your house. Education and health. I’ll spend the money. I may cut back some tanks. But not on health.”
- Lyndon B. Johnson, 1965
Pg. 380 #10a. Why have some members of Congress pushed for additional government programs related to healthcare?b. Describe their suggestions to help solve this problem?
Pg. 398 #7
(pg. 398 #6)
Reduces economic growth
Implemented to slow down inflation
Budget Deficit and National Debt
Budget surplus- more revenue(taxes) was collected than spent (pg. 414 #3)
Budget deficit- more money was spent than collected
To avoid hyperinflation, the government borrows money to pay deficits. (pg.414 #4)
Treasury bills – short term maturity: 26 weeks or less
Treasury note – medium term maturity: 2 – 10 years
Treasury bond – long term maturity: 30 years