Examlex
States must issue air pollution permits to emission sources, but EPA can overrule state permit decisions.
Cyclically Balanced
A fiscal policy strategy where government budgets are planned to balance over the business cycle, running surpluses in boom years and deficits during recessions.
Federal Deficits
The financial shortfall that occurs when a government's expenditures exceed its revenues in a given fiscal year.
Great Depression
A severe worldwide economic downturn that took place during the 1930s, marked by devastating economic contraction, high unemployment, and deflation.
Welfare Outlays
Expenditures made by governments aimed at supporting the wellbeing of citizens, including benefits for the unemployed, poor, disabled and elderly.
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