What are the two types of spending?
What are the two types of spending?
About the Topic There are two types of spending in the federal budget process: discretionary and mandatory.
What’s the difference between mandatory spending and discretionary spending?
In conclusion, mandatory spending is spending that has been predetermined by existing laws and must be done each year, while discretionary spending is what Congress decides each year how much to spend on different programs.
What is the difference between mandatory and discretionary spending quizlet?
Mandatory spending is spending that is required by current law and discretionary spending is spending that must be authorized by the government each year.
What is discretionary spending within a budget?
Discretionary spending – 30%: Thirty percent of your budget is for anything you want but wouldn’t say you need. It would cover all of your non-necessities, such as entertainment and travel.
What is discretionary and nondiscretionary spending?
Expenses are divided into several categories, namely non-discretionary and discretionary. While non-discretionary expenses are considered mandatory—housing, taxes, debt, and groceries—discretionary expenses are any costs incurred above and beyond what is deemed necessary.
What is the difference between mandatory and discretionary spending?\?
What is the difference between mandatory spending and discretionary spending? Mandatory spending is spending that is required by current law and discretionary spending is spending that must be authorized by the government each year.
What’s the difference between a deficit and a surplus?
What is a budget surplus and a budget deficit? A budget surplus is when extra money is left over in a budget after expenses are paid. A budget deficit occurs when the federal government spends more money that it collects in revenue. A budget surplus is more beneficial to a government.
What is the difference between budget deficit and deficit financing?
The opposite of a budget deficit is a budget surplus, and when inflows equal outflows, the budget is said to be balanced. deficit financing, practice in which a government spends more money than it receives as revenue, the difference being made up by borrowing or minting new funds.