![]() Income Security Programs make payments to individuals based on their income through programs such as the following: earned income, child, and other tax credits (refundable tax credits for the working poor) the Supplemental Nutrition Assistance Program (formerly known as food stamps) Supplemental Security Income (payments to disabled children and adults with limited incomes) unemployment compensation (time-limited payments for people who become unemployed) family support and foster care and child nutrition. ![]() Social Security provides payments to retired and disabled workers, as well as to their spouses, dependent children, and survivors.Major Health Programs refers to four programs: Medicare (for seniors and disabled people) Medicaid (generally for lower-income beneficiaries) premium tax credits and related spending (for low- and moderate-income people) and the Children’s Health Insurance Program (for low-income children and parents).Mandatory spending covers programs in six major areas: ![]() Those programs are also often referred to as "entitlements" because individuals who meet the program's eligibility requirements are "entitled" to benefits. Many programs that provide benefits to individuals are classified as mandatory spending, such as Social Security, Medicare, and Medicaid. Programs governed by provisions of permanent law are referred to as “mandatory.” Put another way, spending on most mandatory programs is essentially on “autopilot” unless policymakers change the laws governing the program. That spending can be divided into three categories: mandatory, discretionary, and interest. In 2023, federal spending is projected to total $6.4 trillion - about one-fourth of the economy and $19,100 for each person living in the United States. Each year, the President and Congress have the opportunity to set priorities for the federal government, determining how much to spend through appropriations for annually funded programs as well as reviewing entitlement programs and the tax code. It also expresses the policy priorities of our government. The budget is more than just a tally of numbers.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |