Embedded Files
America operates with a mixed economy. What does this mean exactly?
America operates with a mixed economy. What does this mean exactly?
This chart may help you break down the advantages of our American Mixed Economic System
This chart may help you break down the advantages of our American Mixed Economic System
Now that you understand the need for a mixed economy, it's important to understand how the government regulates the economy. First order of business: Where does the government come up with the money for their budget?
Now that you understand the need for a mixed economy, it's important to understand how the government regulates the economy. First order of business: Where does the government come up with the money for their budget?
The federal budget is made up of tax revenue. In 2015, the total amount was $3.25 trillion
The federal budget is made up of tax revenue. In 2015, the total amount was $3.25 trillion
There are 2 categories that government spending falls into: Mandatory and Discretionary.
There are 2 categories that government spending falls into: Mandatory and Discretionary.
Mandatory Spending is government spending required by law. Included is Social Security, Medicare, and Medicaid.
Mandatory Spending is government spending required by law. Included is Social Security, Medicare, and Medicaid.
Discretionary Spending is the part of the budget that congress appropriates each year. The amounts per category change from year to year.
Discretionary Spending is the part of the budget that congress appropriates each year. The amounts per category change from year to year.
Since mandatory spending can't be cut, the government's job is to most efficiently allocate (distribute) the remainder of the budget (discretionary spending). The objective of budget allocation is to ensure that citizens are protected and have the necessities for a healthy life. Road Projects are tax money, Police and Firemen and tax money, teachers and school buildings are tax money, Military is tax money. The list goes on. This is why understanding Economics is critical to your political involvement. The policies that lawmakers enact directly affect your life as well as everyone in your community. You have a responsibility to be informed.
Since mandatory spending can't be cut, the government's job is to most efficiently allocate (distribute) the remainder of the budget (discretionary spending). The objective of budget allocation is to ensure that citizens are protected and have the necessities for a healthy life. Road Projects are tax money, Police and Firemen and tax money, teachers and school buildings are tax money, Military is tax money. The list goes on. This is why understanding Economics is critical to your political involvement. The policies that lawmakers enact directly affect your life as well as everyone in your community. You have a responsibility to be informed.
Assignment #003: Copy this document to your google drive and complete.
Assignment #003: Copy this document to your google drive and complete.
Report abuse