Question

Spending that is required by law is known as spending.

Answer 1

Spending that is required by law is Mandatory spending.  

The so-called power of the purse is one of the duties the constitution specified for the congress. This implies that the congress is vested with the power to approve government spending and determine what the government can spend money on.

Though congress approval is necessary for spending, there is some spending that are less supervised by the congress and it is renewed yearly, such spend is known as Mandatory Spending.

Mandatory spending is government spending that is required by law such as social security, Medicare and Medicaid. It is also called direct spending.  In the United States budget, about 60% of it is allotted for Mandatory spending while the security and health sector takes about 40% of the mandatory total spending.

In the United States, Mandatory spending continues to take the larger share of the federal budget. In 2016, Mandatory spending received 60% of the federal budget and 13% of the GDP. The total federal spending for that year was $3.9 trillion and Mandatory spending got $2.4 trillion.

For year 2019, the budget office put the federal spending at $4.536 trillion out of which $2.777 trillion goes to Mandatory spending. For 2020, Mandatory spending is projected at $2.841 trillion.

LEARN MORE:

• Spending that is required by law brainly.com/question/3282851

KEYWORDS:

• government spending
• mandatory spending
• federal budget
• medicare and medicaid

Answer 2

Spending that is required by law is known as mandatory spending. Over 60% of the federal budget is allotted for mandatory spending. The US spends a lot on programs for Medicare and Social Security which account for 40% of this total mandatory spending. This is to ensure that the rights of American citizens for good health and security is highly considered by the American government.