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How much has the federal government planned on spending in 2014?

How much has the federal government planned on spending in 2014?. $3.8 trillion!. Government Spending. Federal, State, and Local Unit 6. Federal Government Expenses. Largest expenditures in the federal budget (2014): Social Security $1,224,000,000,000 Medicare & Medicaid $980,000,000,000

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How much has the federal government planned on spending in 2014?

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  1. How much has the federal government planned on spending in 2014? $3.8 trillion!

  2. Government Spending Federal, State, and Local Unit 6

  3. Federal Government Expenses Largest expenditures in the federal budget (2014): • Social Security • $1,224,000,000,000 • Medicare & Medicaid • $980,000,000,000 • Defense (military) • $655,000,000,000

  4. State Government Expenses Largest state government expense: • Local government aid • Money given to local governments by the state to pay for things like schools, roads, police, etc

  5. Local Government Expenses Largest local government expense: • Schools

  6. Impact of Government Spending • Money distribution • The govtdetermines where its money goes (and who will receive it) • Incomes of businesses and communities can be affected by these choices • Example: If the government decided to purchase diesel engines from Cummins for the newest army vehicles, how would this impact income for people in the Columbus area? • How would this impact Detroit where Ford engines are made? • Tax/Debt burden • The more money the government spends, the more it either needs to collect in taxes, or borrow

  7. Quick Review • What is the largest expense in the federal budget? • What is the largest expense in state budgets? • What is the largest expense for local governments? • How does government spending affect you and me? • Money distribution (did we receive any of that money?) and taxes Social Security Local government aid Education

  8. Why should YOU care? • The burden of government spending is placed squarely on the shoulders of YOU, the taxpayer • Many of the programs and things the government spends money on helps YOU • Military protection • Social security (for when you retire) • Government created/reliant jobs • Education funding • Wouldn’t it be nice if we all had our own laptops in school?

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