CHIMPS – budget cuts that improve government efficiency
Defintion: CHIMPS is the acronym for “changes in mandatory program spending”
Explanation: Currently Congress is only discussing “domestic discretionary spending,” a very small slice of the federal budget. Democratic Senator Charles E. Schumer of New York, suggests that CHIMPS be included in the discussion.
Mandatory spending on programs is not discretionary; it is mandatory. However mandatory spending does not dictate how program goals should be achieved. Schumer argues that jobs and money could both be saved by CHIMPS. Mandatory programs are found in different sectors of the economy than discretionary programs.
Related term: discretionary program spending
Copyright © 2011 Nancy K. Humphreys
1 comment so far ↓
“Changes in mandatory program spending” is very current, necessary and appropriate considering the ongoing budgetary considerations. Very good Nancy.