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Government spending or expenditure includes all government consumption, investment, and transfer payments. [1] [2] In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure.
Also simply called spending. The amount by which spending exceeds revenue over a particular period of time; it is the opposite of budget surplus. The term may be applied to the budget of a government, private company, or individual. budget set. Also called an opportunity set.
Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
An expense is an item requiring an outflow of money, or any form of fortune in general, to another person or group as payment for an item, service, or other category of costs.
Discretionary spending requires an annual appropriation bill, which is a piece of legislation. Discretionary spending is typically set by the House and Senate Appropriations Committees and their various subcommittees. Since the spending is typically for a fixed period (usually a year), it is said to be under the discretion of the
Congress does not decide each year to increase or decrease the budget for Social Security or other earned benefit programs. Some mandatory spending programs are in effect indefinitely, but some, like agriculture programs, expire at the end of a given period. Legislation that affects mandatory spending is subject to House and Senate points of ...
CNBC recently reported that consumer spending has remained very strong in the face of challenging economic headwinds. See: Dave Ramsey: 11 Items You Should Always Buy GenericFind: Pocket an Extra ...
Salary (also now known as fixed pay) is coming to be seen as part of a "total rewards" system which includes bonuses, incentive pay, commissions, benefits and perquisites (or perks), and various other tools which help employers link rewards to an employee's measured performance. [1] Compensation has evolved considerably.