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LINE ITEM VETO: A policy intended to address the efficiency caused by legislative logrolling by giving executive officers who have veto authority over legislation (Presidents, Governors, Mayors), the ability to veto specific sections of a legislative act rather than the entire act. With a standard veto, the executive vetoes the entire piece of legislation. With line item veto, the executive can veto only parts of the legislation while signing the rest of it into law. While a line item veto is likely to reduce logrolling, it effectively gives the executive officer more power and authority.
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VOLUNTARY EXCHANGE The process of willingly trading one valuable commodity (good, service, or resource) for another. The key term is "willingly," which distinguishes voluntary exchanges from involuntary exchanges, such as those created by government taxes. Voluntary exchanges are the foundation of market transactions.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store wanting to buy either a coffee cup commemorating last Friday (you know why) or a wall poster commemorating the first day of spring. Be on the lookout for crowded shopping malls.
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This isn't me! What am I?
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"A man flattened by an opponent can get up again. A man flattened by conformity stays down for good. " -- Thomas Watson Jr., executive
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GAB
General Agreements to Borrow
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