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Transcript

01:00

What is a Federal Budget?The federal budget is a government plan that outlines how the revenue collected from taxes will be spent.

When is it created?A fiscal year is the time for creating a budget runs from October 1 to September 30 of the following year.

Government SpendingThe 5 largest categories of government spending are:

  • Social Security
  • Interest on Debt
  • Income Security
  • National Defense
  • Medicare

Who receives money from the Federal Budget? There are 15 federal government departments that submit proposals to the President for how much money they will be needing.

Budget Deficit & Budget Surplus Budget Deficit: government SPENDS more than it collected in taxes. Budget Surplus: government COLLECTS more taxes than it spends.

Guess which tax it is................

SPENDING

DECREASES

SPENDING

INCREASES

TAXES

DECREASES

TAXES

INCREASES

When the federal government

Fiscal policy

Did you know? We retain 42% more information when the content has movement. It may be the most effective resource for capturing your audience’s attention.

Note: In Genially, we use AI (Awesome interactivity) in all our designs so that you can level up with interactivity and turn your content into something that engages and provides value.

Note: In Genially, we use AI (Awesome interactivity) in all our designs so that you can level up with interactivity and turn your content into something that engages and provides value.

Did you know? We retain 42% more information when the content has movement. It may be the most effective resource for capturing your audience’s attention.