A Citizen's Guide to the Federal Budget, Budget of the United States Government Fiscal Year 1999.
Abstract
The Federal budget is: * a plan for how the Government spends your money. What activities are funded? How much does it spend for defense, national parks, the FBI, Medicare, and meat and fish inspection? * a plan for how the Government pays for its activities. How much revenue does it raise through different kinds of taxes - income taxes, excise taxes, and social insurance payroll taxes? * a plan for Government borrowing. If spending is greater than revenues, the Government runs a deficit. To finance deficits, the Government has to borrow money, Government borrowing adds to the national debt. * something that affects the Nation's economy. Some types of spending-such as improvements in education and support for science and technology increase productivity and raise incomes in the future. Taxes, on the other hand, reduce incomes, leaving people with less money to spend. * something that is affected by the Nation's economy. When the economy is doing well people are earning more and unemployment is low. In this atmosphere, revenues increase and the deficit shrinks. an historical record.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 01, 1998
- Accession Number
- ADA351560
Entities
Organizations
- Executive Office of the President of the United States