ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Generally, Congress allocates over half of the discretionary budget towards national defense and the rest to fund the administration of other agencies and programs. These programs range from transportation, education, housing, and social service programs, as well as science and environmental organizations.

Detailed explanation-2: -The bulk of mandatory spending is for entitlement programs, which are social welfare programs with specific requirements. Congress sets eligibility requirements and benefits for entitlement programs. If the eligibility requirements are met for a specific mandatory program, outlays are made automatically.

Detailed explanation-3: -The three primary national spending categories are mandatory spending, discretionary spending and interest on the total national debt. Here are some charts and information about the federal budget and national debt.

Detailed explanation-4: -Housing (25-35 percent) Transportation (10-15 percent) Food (10-15 percent) Utilities (5-10 percent) Insurance (10-25 percent) Medical & Healthcare (5-10 percent) Saving, Investing, & Debt Payments (10-20 percent) Personal Spending (5-10 percent) More items •28-Feb-2023