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The American Economy

Across
government spending; major areas of federal spending are social services and national defense
an excess of expenditures over revenues
this is our government’s decision on how to regulate the cost of imports and exports by regulating trade agreements with other countries
a description of the budget process where the best predictor of this year’s budget is last year’s budget plus a little bit more
a law intended to provide a minimal level of sustenance to older Americans and thus save them from poverty
the financial resources of the government; the individual income tax and Social Security tax are two major sources of the federal government
largely made up of consumer spending, business and government spending, and net exports
Down
a program added to the Social Security system in 1965 that provides health insurance for the elderly, covering hospitalization, doctor fees, and other health expenses
revenue losses that result from special exemptions, exclusions, or deductions allowed by federal tax law
our federal budget and how we choose, as a country, to spend our money
The Federal Reserve decides the federal funds rate, the money supply (how much will be printed), and the use of credit
When prices fall, deflation occurs. You can also have deflation of assets, such as homes, stocks, etc.
a policy document allocating burdens (taxes) and benefits (expenditures)