Question

question 16
0.5 pts
the majority of the federal budget
does not have statutory limits on the federal debt.
is made up of legal obligations created through legislation that require the payment of benefits to any
person or unit of government that meets the eligibility requirements established by law.
includes taxation and tax policy, expenditures, and management of the national debt.
is periodically raised and managed by congress.

Explanation:

The federal budget's majority consists of mandatory spending. Mandatory spending is based on laws (legislation) that set eligibility criteria. When individuals or government units meet these criteria, they are legally entitled to benefits. For example, Social Security and Medicare are major mandatory spending programs. The other options are incorrect. The federal debt does have a statutory limit (though it's often raised). Taxation and tax policy are revenue - related (not the majority of the budget which is spending). And while Congress is involved in budgetary processes, the description of being "periodically raised and managed" is too vague compared to the legal - obligation - based description of mandatory spending.

Answer:

is made up of legal obligations created through legislation that require the payment of benefits to any person or unit of government that meets the eligibility requirements established by law.