Meaning of ENTITLEMENT PROGRAM (CONT.) in English

ENTITLEMENT PROGRAM (CONT.)

Since the middle 1980s, entitlement programs have accounted for more than half of all federal spending. Taken together with such other almost uncontrollable (in the short run, that is) expenses as interest payments on the national debt and the payment obligations arising from long-term contracts already entered into by the government in past years, entitlement programs leave Congress with no more than about 25% of the annual budget to be scrutinized for possible cutbacks through the regular appropriations process. This very substantially reduces the practicality of trying to counteract the ups and downs of the overall economy through a "discretionary" fiscal policy because so very little of the budget is available for meaningful alteration by the Appropriations and Budget committees on short notice.

[See also: appropriation bill , authorization bill ]

English glossary of political economy terms.      Английский глоссарий политико-экономических терминов.