Essay On The Federal Budget

These two powers give an impression that the president is all-powerful then it comes to economy. And many people share this impression, since the president’s new budget usually is a hot topic on the news even thought it is not really the president’s budget.

Budgeting is perhaps the most essential process involved in the United States government. While this process seems to exist only in the background, it is, in reality, what allows all other processes of government to function as they do. In order to satisfy the most necessities of modern society, changes must be made to each of the three major categories of the budget: the big five, the middle five, and the little guys.

“To budget is to fight over money and the things money buys” (Document A). The federal budget is adjusted every year and has to follow certain criteria set forward by the Preamble to the Constitution. The Preamble sets five goals that the budget must fulfill, these goals are: to establish justice, to insure domestic tranquility, to provide for the common defence, to promote the general welfare, and to secure the Blessings of Liberty to ourselves and our prosperity. Furthermore, it is difficult to decide what clusters of the federal budget to allocate money to in order to meet the five goals of the Preamble which are “The Big Five”, “The Middle Five”, and “The Little Guys.” In each of the three budget clusters,

The federal budget is known as the notorious economic tank from which money is distributed to various programs. The money used every fiscal year, which begins October 1st and ends September 30th the next year, belongs to the people. The government raises this money through taxes and they spend it on national defense, Medicare, and social security. The federal budget is an exercise in making choices, and those options will certainly affect individuals living in the U.S. These choices cause debt to pile up on the government, who is struggling to make it disappear. The deficit and debt of a government gauges how well it is being run and how well it has been run in the past. According to The Economist the national debt is the total

The U.S. government budget is made up of different content that present financial proposals from the President with advised importance for ration of revenue from the local government. More importantly, the budgets focus being the budget year. This is the next budgetary year where changes would have to be made by Congress. The budget not only covers the present year, but the next 4 years after the budget year to be able to resonate the outcome of budget verdicts past the extended term. This includes funding zones given for the present year in order for the reader to be able to make a comparison of Presidential budget propositions and the newest executed zones. Here the President starts the lengthy procedure of creating a budget by means of policy guidelines, at least 9 months prior sending his budget proposal off to Congress. Following the guidelines, the Budget Office along with Federal agencies create a policy for the present and future budget years.

Cutting their funding will lead to more health issues for people who used to go to them, thereby increasing costs on the public services providing by the government. It will end up costing more than actually not cutting their funds.

How might the state of the budget impact the problem that your bill is addressing, and impact the likelihood of passage of the specific bill you are examining?

The appropriation committee is indeed responsible for maintaining the budgets and setting budgets. They also do hearing on bills that affect the discretionary budget in anyway. Appropriation committee is consider one of the powerful committees in the senate, due to their influence and regulation of budgeting money. The committee also

Furthermore, in 2011, the BCA created a “Super Committee”, otherwise known as the Congressional Joint Select Committee on Deficit Reduction. This committee was made up of 12 Congress members, 6 of which or Democratic, and 6 who are Republican. The members were instructed to cut an additional $1.5 trillion from the nation budget. Interestingly, the bill stipulated that if the committee was unable to come to agreeance with Congress by December 23rd, there would be automatic across the board cuts, this process became known as sequestration. This procedure is simply the governments’ formula to cut $1.2 trillion from spending programs. Interestingly, sequestration does not promote equal cuts to each program, instead various amounts are withdrawn from each category. For example, in 2013 sequestration cut , 5.1% from Domestic Discretionary spending , 7.6% from defense, 2.% from Medicare, and 5.2% from other areas. Interestingly, Social Security food stamps, and a number of other mandatory programs remain exempt from sequestration.

Congress completes action on the concurrent resolution on the budget. (This is not signed by the President).

The State of New York’s budget process involves six phases namely: The Call; The Executive Budget; Public Hearings; Legislative Amendments; Enactment Phase; and Implementation Phase. The budget process or cycle formally begins after the budget director issues the memorandum policy referred to as “The Call Letter” to heads of agencies. The Call Letter marks the official commencement of the budget process and starts at August and last through to October. As the early-mid fall approaches, each agency assembles a final program package and is then send to the Budgetary Division. By the time December starts, the budgetary division normally has completed the preliminary commendations for both the revenues and expenditures, and subsequently presents them to respective Governor Office (New York State Government, n.d.).

All federal spending is divided into three groups by the U.S of treasury: mandatory spending, discretionary spending and interest on debt. Mandatory and discretionary spending take up more than ninety percent of all the federal spending, and these pay for all the programs the people depend on. “Discretionary spending refers to the portion of the budget that is decided by Congress through the annual appropriations process each year. These spending levels are set each year by Congress.” Congress spent $1.1 trillion in discretionary spending. The biggest part of discretionary spending is spent on the Pentagon and related military programs. Mandatory spending contains the “loved” Social Security and Medicare programs. It makes up almost for two thirds of all the federal spending. $2.45 trillion was spent in this category. Interest of debt,

The budget sent to Congress reflects the choices and needs of the president on such issues as its general size, its conceivable impacts on the economy, its significant bearings in public policy, and its assignment of assets among the real organizations and projects.

The federal budget is known as the infamous monetary tank from which money is distributed to various programs. Why does the federal budget plan cause such uproar of approval or disapproval when it is proposed by the President every February? The money utilized every fiscal year, which runs from October 1st of each year until the end of September of the following year, belongs to the people. The money is raised through income taxes, excise taxes (taxes on goods) and social insurance payroll taxes. Presently, the public is worried about how they will receive a fair share of money appropriations in such a slow economy. The federal deficit has returned, which means that the government’s spending

The first step to creating the federal government budget is the President submits a budget request to Congress. The executive branch gets requests from the federal agencies saying that different things and projects need money or that they don’t need money. So basically they discuss what project is more important. Yet these are all only proposals so they can either be accepted or denied depending on what the people think the country needs.