Paying for government chapter 12 PowerPoint Presentation, PPT - DocSlides

Download briana-ranney | 2018-07-11 | General Raising Money. Types of Taxes. Managing the Country’s Money. Managing the Country’s Money. Chapter 12. Section 3. P305-308. Key Terms. Balanced Budget – revenues = expenditures. (. ID: 663628

Paying for government chapter 12 PowerPoint Presentation, PPT - DocSlides Slideshow

http://www.usdebtclock.org/

briana-ranney
By briana-ranney

Watch All docs

  • Views 15
Download this presentation

Paying for government chapter 12 PowerPoint Presentation, PPT - DocSlides

Click below link (As may be) to get this presentation.

Download Note - The PPT/PDF document "Paying for government chapter 12 PowerPo..." is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.

Presentations text content in Paying for government chapter 12 PowerPoint Presentation, PPT - DocSlides

Slide1

Paying for governmentchapter 12

Raising Money

Types of Taxes

Managing the Country’s Money

Slide2

Managing the Country’s Money

Chapter 12

Section 3

P305-308

Slide3

Key Terms

Balanced Budget – revenues = expenditures

(

income

) = (outgoing)

Surplus

– an excess of money

Deficit

– shortage of money

Audit – careful examination by accountants of all revenues and expenditures

Slide4

Every level of government has a tax collection agency

State Tax Agencies

State income taxes

Inheritance taxes

Local Tax Agencies

Local property

Slide5

Collected monies go to different Treasuries

Federal Level

State & Local Level

U.S. Department of Treasury

Authorized by Congress

Spends federal tax dollars

Comptroller

Authorized by:

State Legislature

City Council

Acts as watchdog of Treasury

Responsible for ensuring public funds spent as allocated

Slide6

Spending Public Money

Governments collect money to pay for goods and services citizens want

BUDGET

– lists the amount and sources of:

Expected Revenue – money your going to make/get

Money income

Proposed expenditures- money your going to spend

Money outgoing

Slide7

Planning Government Spending

Slide8

How to spend money = lots of political debate

Slide9

OMB & Preparing the Federal Budget

(B

)

O.M.B.

Slide10

2011 Presidential Budget

$3.8

trillion budget proposal for fiscal year 2011 includes billions to put people back to work and imposes new fees on some of the nation's largest banks

Slide11

Slide12

Congress and the Budget

Slide13

Slide14

The National Debt

Balancing

the

Budget

Balanced

Budget

– revenue

equals

expenditures money collected EQUALS money spent Surplus – excess of money

money collected GREATER money spent

Deficit – shortage of money

money

collected LESS THAN money

spent

If there is a deficit

then government must borrow money

to pay

for

difference

between income and

expenses –

Government must pay interest on money it borrows

National Debt – deficit + interest on borrowed money

Slide15

Deficit

Slide16

U.S. National Debt

There is no constitutional limit on the size of the national debt, congress establishes a limit, but can raise the limit through a vote

Slide17

Slide18

Audits

Audit - examination by an accountant of a government’s income and expenditure

The U.S. Government Accountability Office performs audits on most federal expenditures

Slide19

http://www.usdebtclock.org/

Recommended

Advertisement

FOCUS 2 An Online  Career,  Major
  • 16

FOCUS 2 An Online Career, Major

TASFAA 2016 Legacy of Leadership
  • 12

TASFAA 2016 Legacy of Leadership

Where We Are in Place and Time
  • 10

Where We Are in Place and Time

Warm Up,  April 17 th Name the three funniest works of art (can be books, plays, television shows,
  • 10

Warm Up, April 17 th Name the three funniest works of art (can be books, plays, television shows,

Humor and comedy Comedy Comedy has taken different definitions through the ages
  • 11

Humor and comedy Comedy Comedy has taken different definitions through the ages

Comedy Comedy We call cultural content meant primarily to generate mirth âcomedyâ
  • 10

Comedy Comedy We call cultural content meant primarily to generate mirth “comedy”

What sort of a comedy is
  • 7

What sort of a comedy is

Overview Insert Name Insert Job Title
  • 12

Overview Insert Name Insert Job Title

Report this Document.