REDEEMABLE Definition

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REDEEMABLE means cashable, i.e. able to be converted into ready money or its equivalent, e.g. redeemable stocks and bonds or a cashable check.

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ASSESSED VALUE is the estimated value of property used for tax purposes.

DISCRETIONARY SPENDING consists of US government expenditures that are set on an annual basis. It is a budget that members of Congress can adjust on a yearly basis. Examples of discretionary spending in the United States:

-defense budget
-education
-Environmental Protection Agency
-Department of Veterans Affairs

When looking to cut costs, lawmakers usually look to trimming discretionary spending. See MANDATORY SPENDING.

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