Assignment:
Please Identify and Define...
1.the general levels and major objects of spending by federal and state/local governments, including entitlements and other mandatory spending obligations.
2.the general levels and major sources of revenue for federal and state/local governments.
3.the major characteristics of government financial choices and the cycle of fiscal decision making.
4.the purposes for which budgets are used in all levels of government.
5.the types of budgets that governments commonly use.
6.the steps in the process of adopting the annual federal budget.
7.the means for managing and reviewing government spending.
8.the means for acquiring and managing government debt.
9. how government financial choices are constrained by current political and economic conditions.