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  • 1. In your own words write a brief paragraph that summarizes what the Federal Budget is.
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  • 2. What government official is ultimately responsible for the preparation and submission of the Federal Budget?
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  • 3. List government revenues by category, beginning with the largest percentages. Note – students will need to calculate these figures themselves.
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  • 4. What is the estimated revenue for the Federal Government in 2015?
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  • 5. List government expenditures by category beginning with the largest percentages.
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  • 6. What types of expenditures are classified as “Nondefense”?
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