Medicaid - Public health insurance program recommendations designed to balance the that provides coverage for low-income budget, excluding interest payments on the persons for acute and long-term care. It is debt, by 2015. In addition, the Commission financed jointly by state and federal funds shall propose recommendations that (the federal government pays at least 50 meaningfully improve the long-run fiscal percent of the total cost in each state) and is outlook, including changes to address the administered by states within broad federal growth of entitlement spending and the gap guidelines. between the projected revenues and . ; expenditures of the Federal Government. Medicare - Federal health insurance program for virtually all persons age 65 and Net Interest - In the federal budget, net older, and permanently disabled persons interest comprises the government’s interest under age 65, who qualify by receiving payments on debt held by the public (as Social Security Disability Insurance. recorded in budget function 900), offset by _. interest income that the government Mortgage-Backed Securities (MBSs) - receives on loans and cash balances and by Securities issued by financial institutions to earnings of the National Railroad Retirement investors with the payments of interest and Investment Trust. See budget function and principal backed by the payments on a debt. package of mortgages. MBSs are structured by their sponsors to create multiple classes Office of Management and Budget (OMB) of claims, or tranches, of different seniority, — White House office responsible for based on the cash flows from the underlying devising and submitting the president’s mortgages. Investors holding securities in annual budget proposal to Congress. the safest, or most senior, tranche stand first . . . in line to receive payments from borrowers Organization for Economic Co-operation and require the lowest contractual interest and Development (OECD) — An rate of all the tranches. Inve