Budget Deficit
From Dickinson College Wiki
Government Budget
Government Outlays
- government purchases(G): expenditures on currently produced goods and services (government consumption) or capital goods (government investment).
- transfer payments(TR): payments made to individuals, which the government does not receive current goods or services.
- examples:
- Social Security payments
- military and civil service pensions
- unemployment insurance
- welfare payments
- Medicare
- net intrest payments (INT): intrest paid to the holders of government bonds minus the intrest received by the government. (outstanding government loans)
