Flashcards in The Federal Budget Deck (4):
Easing and lowering taxes and government spending programs. Fiscal policy is controlled by the executive and legislative branches.
A government-sponsored program that provides mandated benefits to those who meet eligibility requirements. Social Security and Medicare are the government's largest entitlement programs.
Office of Management and Budget (OMB)
The OMB is responsible for preparing the budget that the president submits to Congress.