- Ricardian equivalence states that spending on government deficits is equivalent to spending on current taxes.
- The sovereign wealth fund is a public investment fund.
- A transfer payment is a payment of money for which goods or services are not exchanged.
- President John F. Kennedy created USAID in 1961 to manage the federal government’s foreign aid programs.
- The US Department of the Treasury is the government agency responsible for managing all federal finances.