POLS 2102 Chapter Notes - Chapter 4-5: Nonpartisanism, American Recovery And Reinvestment Act Of 2009
23 Mar 2016
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Document Summary
American recovery and reinvestment act (arra): a billion federal government package intended to stimulate economic growth during the recession of 2008-2009. Balanced budget: a budget in which current expenditures are equal to or less than income. Bonds: certificates that are evidence of debts on which the issuer promises to pay the holders a specified amount of interest for a specified length of time and to repay the loans on their maturity. Budget deficits or shortfalls: cash shortages that result when the amount of money coming into the government falls below the amount being spent. Budget process: the procedure by which state and local governments assess revenues and set budgets. Capital investments: investments in infrastructure, such as roads. Discretionary spending: spending controlled in annual appropriations acts. Divided: a payment made to stockholders (or in alaska"s case, residents) from the interest generated by an investment. Entitlement: a service that government must provide, regardless of the cost.
