Ch. 10 Sec. 2 Reading Guide—ANSWERS ONLY—ANSWERS ONLY
1. What event(s) caused for unanticipated federal spending in 2001
2. What is a fiscal year and when does the fiscal year begin and end?
3. What office is responsible for preparing the federal budget?
4. After the budget is prepared by the President, who has the right to approve, modify, or disapprove it?
5. What is the CBO?
6. Who has to sign the budget in order for it to become official?
7. In 2007, was there a budget deficit or surplus?
8. What are two examples of programs that fall under mandatory spending?
9. In the 1900s, what comprised the largest category of spending for our government?
10. What is now the largest category of spending for our government?
11. What does the federal government have to do when it spends more than it collects in taxes and other
revenues?
12. Who has a balanced budget amendment, State governments or the federal government?
13. What state revenue sources do intergovernmental expenditures come from?
14. What is the second largest category of state expenditures?
15. What is the primary responsibility of local governments?
16. What is the second-largest expenditure for local governments?