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Pumping refers to steps taken to stimulate spending in an economy during or after a recession. As a rule, this is the injection of small amounts of public funds into a depressed economy to encourage growth. 2011 U.S. Debt Ceiling Crisis
September 25, 2022 The 2011 US debt ceiling crisis was one of a series of recurring debates over the increase in the overall size of the US government debt. 25% Rule
September 25, 2022 The 25% rule is a heuristic that can refer to either public finance law or intellectual property law. 501(c)
September 25, 2022 Section 501(c) of the Internal Revenue Code defines certain types of organizations as tax-exempt - they do not pay federal income tax. Ability-to-Pay Taxation
September 25, 2022 The principle of ability to pay states that those who are more able to pay taxes, measured by income and wealth, should pay more. Bailout
September 25, 2022 Salvation is the injection of money into a business or organization that would otherwise face inevitable collapse. Balanced Budget
September 25, 2022 A balanced budget occurs when revenues equal or exceed total expenditures. Budget Surplus
September 25, 2022 A budget surplus is when revenues exceed spending.# Business to Government (B2G)
September 25, 2022 B2G, or business to government, is the provision of goods and services to government agencies at the federal, state, and local levels. Crowding Out Effect
September 25, 2022 The crowding-out effect suggests that an increase in public sector spending leads to a decrease in private sector spending. Deficit Spending
September 25, 2022 A spending deficit occurs when government spending exceeds its revenues. Double Taxation
September 25, 2022 Double taxation means that income tax is paid twice from the same source of income. Earmarking
September 25, 2022 Purpose is the process by which people or organizations allocate certain money for certain purposes. Economic Efficiency
September 25, 2022 Economic efficiency is when every scarce resource in the economy is used and distributed between producers and consumers in such a way as to provide the greatest economic return and benefit to consumers. Economic Integration
September 25, 2022 Economic integration or regional integration is an agreement between countries to reduce or eliminate trade barriers and harmonize fiscal policies. Economic Recovery Tax Act of 1981 (ERTA)
September 25, 2022 The Recovery Tax Act of 1981, signed into law by Ronald Reagan during his first year in office, was the largest tax cut in US history. Euro Medium Term Notes (EMTN)
September 25, 2022 Medium-term euronote (EMTN) is a medium-term flexible debt security that is issued and traded outside the United States. Fed Balance Sheet
September 25, 2022 The Fed’s balance sheet is a list of assets and liabilities of the Federal Reserve. Fiscal Deficit
September 25, 2022 The government creates a budget deficit by spending more money than it receives from taxes and other revenues, with the exception of debt. Foreign Account Tax Compliance Act (FATCA)
September 25, 2022 The Foreign Account Taxation Act (FATCA) requires US citizens to file annual returns on any foreign accounts and pay any taxes due on them in order to curb tax evasion. Free Trade
September 25, 2022 Free trade agreements reduce or remove barriers to trade across international borders. Generation-Skipping Transfer Tax (GSTT)
September 25, 2022 Generation Skip Transfer Tax (GSTT) is a federal tax that arises when property is transferred by gift or inheritance to a beneficiary (other than spouse) who is at least 37.5 years younger than the donor. Golden Rule
September 25, 2022 The “golden rule” of public spending is fiscal policy, which says that the government should increase borrowing only in order to invest in projects that will pay off in the future. Goods and Services Tax (GST)
September 25, 2022 Goods and Services Tax (GST) is a tax on goods and services sold domestically for consumption. Government Purchase
September 25, 2022 Government purchases include any spending by federal, state, and local agencies, excluding debt and transfer payments such as Social Security. Gross National Income (GNI)
September 25, 2022 Gross national income (GNI) is an alternative to gross domestic product (GDP) as a measure of wealth. It calculates income, not output.