What is meant by the phrase military industrial complex quizlet?
Military Industrial Complex. An informal alliance between a nation’s military and the defense industry which supplies it. The goal is to gain political support for the increased military spending by the national government. President Eisenhower first used this term in his Farewell Address in 1961. Arms Race.
How does military-industrial complex work?
The military–industrial complex refers to the relationship between the government, the military, and the businesses that make things for the military. For example, the businesses can give money to politicians in elections. Then, politicians give more money to the military.
What was the new frontier quizlet?
A set of domestic programs proposed or enacted in the United States on the initiative of President Lyndon B. Johnson. Two main goals of the Great Society social reforms were the elimination of poverty and racial injustice.
Which is the largest social policy of the federal government?
Social Security Benefits as a Percentage of Total Federal Budget Expenditures. Presently, the Social Security program is the largest single item in the annual federal government budget. As a percentage of total federal expenditures, in 2002 Social Security benefits were approximately 22.6% of federal expenditures.
What is the most expensive part of the federal budget?
Mandatory Spending Social Security will be the biggest expense, budgeted at $1.151 trillion. It’s followed by Medicare at $722 billion and Medicaid at $448 billion. Social Security costs are currently 100% covered by payroll taxes and interest on investments.
What are the top 5 things the government spends money on?
The federal government spends a lot of money. In 2019, for example, the government spent a total of around $4.4 trillion….
- Government Debt.
- Social Security.
- Medicare.
- Other Health Care.
- National Defense.
- Veterans Benefits.
- Income Security or Safety Net Programs.
- Education.
What are the four stages of the budget process?
The budget cycle consists of four phases: (1) prepara- tion and submission, (2) approval, (3) execution, and (4) audit and evaluation. The preparation and submission phase is the most difficult to describe because it has been subjected to the most reform efforts.
What are the processes of budgeting?
Common processes include communication within executive management, establishing objectives and targets, developing a detailed budget, compilation and revision of budget model, budget committee review, and approval.