1. Seven
2. The first Monday in February
3. Congress
4. A conference committee
5. They decide it between 12 subcommittees then conduct hearings.
6. The Senate and House approve it then send it to the President.
7. Congress approves it and the President signs it.
8. It becomes a law without a signature
9. Congress passes a continuing resolution authorizing temporary funding at the previous year's levels or face a government shutdown.
10. October 1st-September 30th
11. Mandatory spending, 30% is discretionary spending, and the rest is interest payments on debt.
12. A single document that is accepted in a single vote by a legislature. It is created if Congress can't agree on 12 separate bills.
13. Deficit: When the amount of money the government collects in taxes and other revenue in a given year is less than the amount it spends. Surplus: The government takes in more money than it spends.
Parent Tip: Review the logic above to help your child master the concept of national budget simulation worksheet.
