What is the difference between discretionary and mandatory spending quizlet?
What is the difference between discretionary and mandatory spending quizlet?
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 is discretionary spending?
In American public finance, discretionary spending is government spending implemented through an appropriations bill. Some examples of areas funded by discretionary spending are national defense, foreign aid, education and transportation. …
What is the main difference between discretionary spending and mandatory spending chegg?
2. What is the difference between discretionary and mandatory spending? a. Discretionary spending is determined by the president, and mandatory spending is determined by Congress.
What is discretionary spending group of answer choices?
Discretionary spending is spending that is subject to the appropriations process, whereby Congress sets a new funding level each fiscal year (which begins October 1st) for programs covered in an appropriations bill. Mandatory spending is simply all spending that does not take place through appropriations legislation.
What are 2 examples of discretionary spending?
This spending is an optional part of fiscal policy, in contrast to entitlement programs for which funding is mandatory and determined by the number of eligible recipients. Some examples of areas funded by discretionary spending are national defense, foreign aid, education and transportation .
What percent of federal spending is mandatory?
Mandatory spending is estimated to be $2.841 trillion for FY 2020. The two largest mandatory programs are Social Security and Medicare. That’s 60% of all federal spending.
What programs are defined as mandatory spending obligations?
Mandatory spending refers to spending enacted by law. Generally, a mandatory spending consists of entitlement programs. For example, Social Security benefits, and Medicare.
What is discretionary and non-discretionary spending?
Discretionary and non-discretionary spending are terms used to describe the categories of expenses you use daily in life . Some expenses are necessary, such as your rent, mortgage and utilities; others are more luxury or ‘frivolous’ purchases, such as your daily coffee or the cost…
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