ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Federal government spending pays for everything from Social Security and Medicare to military equipment, highway maintenance, building construction, research, and education.

Detailed explanation-2: -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-3: -The federal government spends about $1.2 trillion a year on defense, including the Departments of Defense, State, and Veterans Affairs. Governments spend $0.5 trillion on welfare programs other than Medicaid. All other spending amounts to $2.2 trillion, including interest on the national debt.

Detailed explanation-4: -financial administration and central staff services (4 percent) interest on debt (4 percent) fire protection (3 percent) sewerage (3 percent) parks and recreation (2 percent) air transportation (2 percent) solid waste management (2 percent) More items