Final answer:
Entitlements are social programs providing monetary benefits to eligible individuals, encompassing major spending areas like Medicare, Medicaid, and Social Security, accounting for nearly half of the U.S. federal budget.
Step-by-step explanation:
Social programs that give individuals certain monetary benefits are best described as entitlements. These are mandatory spending initiatives where eligibility is typically based on factors such as age, income, or disability. The largest portions of the federal budget go towards major entitlement programs like Medicare, Medicaid, and Social Security, which make up nearly half of total government spending. Other entitlement programs include income security programs such as unemployment insurance and SNAP (Supplemental Nutrition Assistance Program). Government support isn't limited to entitlements; it also extends to distributive policies that provide grants, tax credits, and subsidized loans to promote education, homeownership, and business initiatives, thereby investing in citizens' abilities to contribute to the economic growth and secure their own 'American Dream'.