Question of the Day

1
Question of the Day

• Do you think the following quote is true or false
  and why?
• We give the government our money, and they spend
  it where they want without even asking us.

2
Income Tax for Occupations

• Dentist-113,000
• Tax-29,274
• Paramedic-33,000
• Tax-3,683
• Lawyer-100,000
• Tax-25,634
• Bank Manager-53,000
• Tax-11,138

• Social Worker-47,000
• Tax-9,638
• Physical Therapist-60,000
• Tax-12,888
• Mechanic-49,000
• Tax-10,138
• Nurse-71,000
• Tax-15,638

3
Unit 5 Activity 2 Day 1

• Government Borrowing and Deficits

4
Budget Process

• Governments make a budgetplan for managing and
  spending their money
• The budget has two parts
• A list of their revenue
• A list of their expendituresthe items on which
  they plan to spend their money on

5
Balancing the Budget

• Governments try not to spend more than they
  receive
• However, this is not always possible and
  sometimes governments have to borrow money

6
Balancing the Budget continued

• Most state constitutions require that the budget
  be balanced and that they cannot borrow money
• States can ask the federal government for a
  granta sum of money given for a specific purpose

7
2003 Federal Expenditures
8
2005 Louisiana Expenditures
9
Expenditures

• Copy the following list into your notebook.
• Defense
• Human Resources
• includes Education, training, employment, social
  services, health, Medicare, income security,
  social security, and veterans benefits
• Physical Resources
• energy, natural resources, environment, commerce
  and housing credit, transportation, and community
  and regional
• Other Functions
• agriculture, international affairs, general
  science/space/technology, administration of
  justice, and general government

10
Unit 4 Activity 2 Assignment 1

• To be turned in so put on loose-leaf
• You are the United States government and your job
  is to decide where your money will go.
• You have to prioritize the items you just copied
  from most important to least important to you.
• After you rank these please tell in 3 paragraphs
  why you listed them as you did.
• Turn into bin when you are done.