Budget, The amount of money set aside to meet needs and wants, Competing economic goals, People have different views on what the nation needs and how those needs should be met., Taxes, Money paid by citizens and businesses to support government services., Revenue, The money collected by the government through taxes and fees., Fees, Money paid for government services, registrations, and licenses., National Debt, The amount of money government borrows because spending exceeds revenue. , Interest, A percentage based fee charged in exchange for being able to borrow money., Appropriations, The amount of the budget set aside for individual government agencies and programs., Appropriations committee, House and Senate committees who decide how much funding different government department, agencies, and programs should receive from the budget., Conference committee, House and Senate must approve identical budget bills. Any differences are worked out in these committees..
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Budget process
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