Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The U.S. federal budget spends close to four trillion dollars a year. The federal budget is split between mandatory (what the federal government has to

The U.S. federal budget spends close to four trillion dollars a year. The federal budget is split between mandatory (what the federal government has to spend due to congressional legislation) and discretionary spending (what the federal government spends as a result of congressional allotment). Roughly speaking, mandatory spending accounts for two-thirds of the federal budget and discretionary spending accounts for one-third of the federal budget. Every year the executive and legislative branches debate budgetary priorities for the federal bureaucracies such as the Department of Defense, the Pentagon, the Environmental Protection Agency, Veteran Affairs, the Department of Education, and others

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics

Authors: N Gregory Mankiw

9th Edition

1464182892, 9781464182891

More Books

Students also viewed these Economics questions

Question

What has been your desire for leadership in CVS Health?

Answered: 1 week ago

Question

Question 5) Let n = N and Y Answered: 1 week ago

Answered: 1 week ago