Federal Budget Definition

Federal Budget Definition
The Federal Budget What exactly establishes the federal budget? Just as it takes money to run a household, it takes money to run the government. Like
people, the government also makes choices about how to spend its money. Each year, the President and Congress have an official back–and–forth
process of deciding what next year's budget should be. All the government agencies and departments submit a budget request explaining how much
money is a necessity. The president makes a list of his own spending priorities, and so does the Congress. They debate, consult, and finally compromise
to form a budget that says how much money each entitlement program will receive. When it comes to the federal budget, there are different aspects
that are affected;
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The State of the Federal Budget
What is the current state of the Federal Budget? According to Shultz (2002), individuals and businesses fund the Federal Government through
personal income and payroll taxes. With the unemployment rate at 8.1% as of January 1st, 2014 (Bureau of Labor Statistics, 2014), created an
overall shortage in both individual and business taxes. Segal (2010) points out that America has not had a balanced budget since 2001. In 2008
the US national debt held by foreign holdings was at 48%, while the public debt was at $5,461 billion (Segal, 2010; National priorities org, 2014).
The national debt last reported was on October 2013 and had reached 17 trillion dollars, the same amount as the debt ceiling (National priorities
Project, 2013). 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? Incorporate the material on the budget from the Segal text, Chapter 9 and Schultz text, Chapter 3, in your discussion
about the relationship between the budget and the issue you are focusing on. H. R. 2604 looks to place money back into the federal budget while
protecting family unity. According to statistics by Kidsdata (2013), the estimated cost of raising one healthy child in foster care in 2013 for seventeen
years was $196,000. In 2013 there were 100,442 Hispanic/Latino children in foster care (Kidsdata.org, 2013). Keeping Latino/Hispanic children out of
the foster care system and

The Five Steps Of The Federal Budget Process
I. Introduction The federal budget process is a lengthy and complex process that involves monitoring, adjusting, and reporting on the current year's
budget. The budget process is put in place to ensure there is enough funds for many things such as "wage war, provide housing, and maintain streets"
(Rubin 2014). Some of the actors are Bureau Chiefs, The Executive Budget Office, and Chief Executive Office. It all begins with the Federal Budget
Process and the President's proposed budget, while directly involving the execution process. The budget execution process aims to reduce the risk of
overspending, but when the budget is nearing completion, and it seems overspending will occur, budget sequestration comes into play. However, if
not used correctly, sequestration could do more harm than good to our economy and cost important programs their funding. Misuse could also lead to
the waste of time and money, which does not benefit the warfighter or the taxpayers. II. Federal Budget Process There are five steps in the federal
budget process and it involves many different actors. The first step of this process involves the President submitting a budget request to Congress. This
budget request includes the way the President best sees money being spent, it provides suggestions. The second step is the House and Senate passing
budget resolutions, they do so by casting a vote on their budget resolutions. The third step is the House and Senate subcommittees "marking up"
appropriation

Federal Budget And The Budget
It is no secret, the federal budget is in a major deficit. The federal government continues to borrow money to finance obligations that include
Medicare, Social Security, military defense, federal salaries and other programs. The more the government borrows; the deeper the country sinks into
debt (Krulick, 2015). As federal debt grows, the congress raises the allowable debt ceiling. The Congressional Budget Office estimated the Gross
Domestic Product (GDP) was $17.3 trillion in 2014 and that the federal budget deficit was $506 billion ("Congressional Budget Office,").
I believe the sources I have used to research this date are credible. The Congressional Budget Office claims to be a nonpartisan agency which makes
no recommendations on policy. The agency simply analyses budgets at the congressional level. Throughout my research, all sources reported similar
information regarding the budget. It is possible the information related to the federal budget could be a skewed statistic or propaganda from one or
another political party.
I determined the data related to the federal budget to be supportive of the Republican Party. The Republican Party potentially may have constructed
inaccurate information to help solicit votes for an upcoming election or general support of their political party. It would be in the Republican Party's
favor to suggest a higher debt than the actual debt; for the reason that politicians may emphasize the costs of domestic welfare programs that liberals

U.s. Federal Budget Deficit
1.The total U.S. budget deficit for this year is estimated to be $514 billion, compared to $1.4 trillion in 2009 (The Budget and Economic Outlook:
2014 to 2024, 2014). Over the last few years, the federal budget deficit has declined, and is projected to continue to decline this year and leading into
2015 (The Budget and Economic Outlook: 2014 to 2024, 2014).
2.As of September 2014, the United States debt had reached $17.7 trillion dollars (Fighting for a U.S. federal budget that works for all Americans,
2014). Over the past few years, the U.S. debt has continued to increase and signs point to this continuing into 2015. According to the article I have
cited, China and Japan hold the vast majority of the United States debt (Fighting for a ... Show more content on Helpwriting.net ...
Along with this budget–deficit package, President Obama and his administration have also included a number of proposals which focus to expand
access to higher quality early education, money to upgrade the nation's transportation infrastructure, and to provide funding to those who are having
difficulties in today's labor market in order to help in their preparation in finding a job (Parrot, Friedman, Kogan, & Wan de Water, 2013). I believe
this plan has had ample amount of research conducted and I believe this is economically sound and achievable. I think expanding on higher quality
education earlier in life will be extremely beneficial to the coming generations. This will give the United States an advantage in the coming years
because our younger generations will be more intelligent with the hopes of continuing advanced education.
4.There are a number of both long and short term effects that a large budget deficit/debt can have on an economy. First, there will be increased
borrowing, meaning the government will need to borrow from the private sector (Pettinger, 2014). Second, there will be higher debt interests payments,
meaning selling bonds will increase the national debt, leaving future generations to have to pay higher taxes (Pettinger, 2014). Third, an increase in
aggregate demand will occur, which could potentially cause a higher Real GDP and inflation to

Dbq Federal 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. The Big Five, otherwise
known as the five places to which a majority of the U.S. budget is allocated, must undergo drastic changes in order to suit the needs of our modern
society. Together, organizations such as Medicare and Medicaid, along with defense, account for 39% of the national budget, adding up to 1 trillion,
494 billion... Show more content on Helpwriting.net ...
The energy category, which "focuses on developing clean energy alternatives to oil and coal and securing nuclear waste and nuclear stockpiles",
receives just over 1% of the federal budget (Document E). Efficient, renewable, and clean energy has recently become a major concern for people in
general, especially with the spread of global warming awareness. Now, the race is on to minimize United States contribution to climate change, and in
order to make a lasting impact, more money must be allocated to related projects. Also part of the Little Guys category is natural resources and
environment, with 1% of the budget (Document E). Also in the vein of environmental conservation, this category deals with the essentials of life, a
growing concern in the face of climate change and population growth. In order to find more efficient and 'greener' methods of transportation,
consumption, and waste management, money taken from other categories must also be distributed here. Finally, general science and space, the national
park service, and the FBI come into play, totaling $31 billion, $.1billion, and $8 billion respectively (Document E). Amongst these three categories
exists great potential for shifts in budget. The FBI, for example, may be able to function with significantly less money, which, if placed in the general
science and space category, may allow for technological advancements, and even answers to many of the issues faced nationally and internationally in
modern

Federal Government Budget Essay
Federal government spending is increasing, deficits are lingering, and the amount of accumulated debt is reaching dangerously high levels. Growing
spending and debt are undermining economic growth and may push the nation into a severe financial crisis in coming years (Edwards, 2016). How
can we keep our balance and spending under control? Federal spending is becoming more and more of a problem, and Bill Clinton did not balance our
budget. He did provide solutions to balance our budget but allegations state he was only a bystander in the timely process.
When the government is presented with a problem, their immediate reaction is to make a new program to fix it. A solution to our budget problems is
to downsize each federal department by cutting ... Show more content on Helpwriting.net ...
But it's not just up to the President which is why it's so hard to come to an agreement. During the Clinton era, Clinton proposed to increase Federal
spending by 4 percent, to $1.73 trillion, to hire 100,000 new teachers, provide adequate child care, boost scientific research and offer monitored tax
incentives. Effects of a large tax increase that Clinton pushed for in his first year are made prominent. For the most part, it fell entirely on upper
income taxpayers and the wealthy people in our society. Clintons 1994 budget also contained some spending restraints. The cuts allowed the
economy to boom and there were bigger gains in the stock market business that made people happy (Bennett,1998). The new budget brought in
hundreds of millions in unexpected tax revenue from taxes on capital gains and rapidly rising salaries (Jackson,2008). Although this was a good
plan, it unfortunately did not get approved. The budget was balanced but some say not by Clinton. He was merely just a bystander and gave his
opinion as the time passed. Even though the budget was balanced while he was in office, but the record shows that was about the extent of his
contribution (Moore, 1998). Clinton may have tried to contribute but he should not be given all of the credit. Others have credited George Bush.
Political analyst Bill Schneider declared on CNN that Bush is one of "the real heroes" for his ability to raise taxes (Moore,

Federal Budget Process
Executive's Federal budget process with a signed budget The federal budget process has recommended dates and an outlined protocol. The dates are
recommended, but are subjected to change with circumstances. The president presents the proposed budget on the first Monday, in February, to the
congress. Mid February, the CBO presents the economy report and the outlook of the budget to the budget committees. These committees report the
estimates and views on the budget to the senate committee six weeks after they receive it. On 1st April, the senate budget committee begins working
on resolving the budget. Mid April, the committee finalizes on the resolution process. On 10th June, the committee of appropriation reports the final
regular bill. On end June, the House completes the legal reconciliation and reconciliation legislation. Mid July, the president presents the agreed upon
bill back to congress and the fiscal year begins on October 1st (Schick, A. (2008). Most recent CFO Act Legislation (2009) In... Show more content on
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The private CFO is usually audited more regularly, and the process does not involve as huge transactions as those in the government CFO. The private
sector has specific budgets, but the government' budget has too many objectives. Recommendations to Improving the federal budget system The only
part that raises an alarm and increases the workload is the audit. The budgets are audited after several years. Instead, the contracted firms should work
basically for the government from within. Instead of the several budget reviews (an aspect which makes it economical), the auditors should audit
details during implementation. Like other analytical process, the budget should be audited at the initial stage, during implementation, and after
implementation. Years of workload should not be left to accumulate. My concern on the differences between the federal budget and the private sector

Essay on The Federal Budget
The Federal Budget
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. Thefederal deficit has returned, which means that the government's spending ... Show more content
on Helpwriting.net ...
No one decides on the total amount the federal government will spend. Instead, legislative bills that determine the total amount of spending are divided
up among fifteen separate committees in the Senate and seventeen committees in the House of Representatives. The Appropriations Committee has
jurisdiction over non–entitlement programs (spending varies year to year based upon spending authorized by Congress), which covers one–third of
total federal spending. The remaining two–thirds is made up of entitlement programs (spending authorized by permanent laws), which are handled by
other standing committees. The agricultural committees have authority over farm price supports, food stamps, and other rural programs. The tax
–writing committees in the House and Senate are responsible for Social Security and Medicare. The House Energy and Commerce Committee has
jurisdiction over Medicaid.
The decentralization of spending authority creates deficit financing. By spreading the spending responsibility among so many committees, Congress
has created a commons problems. Numerous claimants are competing for a commonly owned resource. The forces of competition for the resource are
leading to over consumption and exhaustion of the resource. From the individual committee perspective the commonly owned resource is federal
revenues. The consumers of the resource are the congressional committees. The common resource is over consumed

Federal Budget Essay
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... Show
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There are not any easy ways to cut spending on the military especially since we are in the middle of fighting in Iraq. We can not just pull some troops
or provide them with less weapons or supplies then expect them to protect our country as well as they are now. We need a defense budget that matches
the new security challenges, not the threats of the last century. We need to recognize that a strong economy is essential for providing the resources to
meet future threats; addressing these long–term debts will keep our economy strong.
The wars in Iraq and Afghanistan are winding down and that will help lower the defense spending by almost $1 trillion over the next decade. The
congress is realizing that they need to do some restructuring and have already begun rearranging the military budget in response to austerity. Congress
conjured up a $630 billion defense appropriations bill that made plans to reduce civilian and contractor personnel by 5 percent over the next five years
and in return ramp up advanced weapons programs, including drones, bombers and missiles says The Washington Post. The American Conservative

Federal Budget
The federal budget is one of the biggest political debates in Washington, D.C. Every year, the President and Congress debate over how much money
should be allocated to certain areas of the budget to effectively manage the country. The Budget and Accounting Act of 1921 requires the President to
submit the budget to Congress for each fiscal year. The federal budget includes funding request for all federal executive departments and independent
agencies. The United States spends more money on defense than any other country in the world. The Department of Defense accounts for the majority
of the discretionary spending in the federal budget. Discretionary spending is government spending that covers the cost of routine activities commonly
associated... Show more content on Helpwriting.net ...
should adjust its priorities and spending to address the changing nature of threats in the world: What all these potential adversaries–from terrorist cells
to rogue nations to rising powers–have in common is that they have learned that it is unwise to confront the United States directly on conventional
military terms. The United States cannot take its current dominance for granted and needs to invest in the programs, platforms, and personnel that will
ensure that dominance's persistence. But it is also important to keep some perspective. As much as the U.S. Navy has shrunk since the end of the Cold
War, for example, in terms of tonnage, its battle fleet is still larger than the next 13 navies combined–and 11 of those 13 navies are U.S. allies or
partners." (Staff,

Essay On Federal Budget
The government needs to take more caution creating the federal budget. Edwards stated that "Consider Canada's experience. In the mid–1990s, the
federal government faced a debt crisis caused by overspending, which is similar to America's current situation. But the Canadian government reversed
course and slashed spending from 23 percent of GDP in 1993, to 17 percent by 2000, to just 15 percent today. The Canadian economy did not sink
into a recession from the cuts as Keynesians would have expected but instead grew strongly during the 1990s and 2000s."
Since the early 1950's Americans have had trouble controlling overspending. The United States government has engaged in deficit spending. This
occurs when spending exceeds the amount of income ... Show more content on Helpwriting.net ...
Growing spending and debt are undermining economic growth and may push the nation into a financial crisis in coming years. Edward then stated that
the solution to these problems is to downsize every federal department by cutting the most harmful programs. This study proposes specific cuts that
would reduce federal spending by almost one–quarter and balance the budget in less than a decade."
In my opinion, I think he is right. If we reduce spending on Medicare, Medicaid, and social security and look into the defense expenses and reduced
some of the spendings in some of the programs such as unnecessary equipment, submarines from the total spending of 4.4 trillion. These are the
programs that make up the largest percentage compared to the other programs such as education, international aid, and foreign aid when the
government cuts some of the programs mentioned above, it will help balance the budget.
Cutting down individual taxes will generate more employment and will help generate more money, it will create more tax revenue, according to Mike
DeBones, from "House Passes 2018 Budget, Taking a Crucial Step toward Tax Overhaul." He states that "Our budget specifically paves the way for
pro–growth tax reform that will reduce taxes for middle–class Americans and free up American businesses to grow and hire," House Budget Committee
Chairman Diane Black (R–Tenn.) said during floor debate Wednesday. I agree if the tax is

Essay On The Federal Budget
The United States is on a fiscally unsustainable path with the national debt at $19.8 trillion as of July 2017. 2016 federal spending exceeded
revenue by $552 billion and is anticipated exceeding revenue for the foreseeable future creating a strategic challenge to our domestic economy
(Deliver, 2017). The 2017 federal debt is at 77 % of gross domestic product (GDP) making it the highest public debt since World War II. The 2018
federal budget estimated impact is the deficit will increase to 79.8% GDP by 2027 adding an adding $10 billion to the public debt. (Policy Basics,
2017). The Congressional Budget Office projects this deficit to continue to grow sharply increasing long–term debt to 150% GDP by 2047 unless there
are changes to ... Show more content on Helpwriting.net ...
This is a significant cost to our country and we need to ensure it aligns with our strategic priorities and national threats. The world is a more complex
and strategic threats are expanding to include terrorism, cyber and economic threats along with the historical dangers of direct or nuclear attack. This
requires a new way of assessment to ensure the United States defense budget provides adequate resources to address national security concerns.
National priorities must consider China and North Korea, Russia and the concern with the European power vacuum, and our most visible threat with
terrorism and Islamic extremism. Our challenge is creating a budget that accounts for our stated threats while keeping us on track to achieve our goal of
reducing federal debt. I see three key defense budget items that can be impactful. My recommended changes are end the wars in Iraq and Afghanistan,
reverse the defense sequester cuts, and reduce foreign aid and international program spending. These three recommendations combined allow the
Department of Defense to reallocate funding from the wars in Iraq and Afghanistan towards our true strategic threats and shifting money from
international assistance programs to address the need to rebuild warfighter support and readiness that have degraded over the years due to constant
wars and

Penalizing The Federal Budget Pros And Cons
The federal budget is in crisis and the national debt is growing by the second. In an effort to stabilize the budget, I propose to cut spending in the areas
of reducing troops in Afghanistan, healthcare, tax expenditures, and social security amongst others. While the premise behind helping others in our
nation and abroad is an honorable idea, we need to find ways to do this while incentivizing people who work hard, rather than penalizing them.
According to the New York Times, troops in Afghanistan are still heavily reliant on their American counterparts for training, technological resources
and intelligence (Mazetti & Shear). While it may be necessary for American troops to be present in an effort to gain intelligence and stabilize activity
in the area, we are not there to build their nation. America needs to reduce the number of troops in harms way and reduce the spending for another
nation, especially when our budget doesn't allow for such luxuries.... Show more content on Helpwriting.net ...
The subsidies created by the government have good intentions, and some people are deserving. People are at risk to lose their current health care
coverage due to companies finding it cheaper to pay the penalty tax or their private plans do not meet the essential health benefits. Americans are
taxed more for Medicare if they are over a certain income threshold and those without insurance who choose not to purchase insurance will also be
taxed. Short term costs will raise due to the increase in preventive care measures. However, even when the healthcare reform is fully implemented, it is
anticipated that 31 million Americans will still be without coverage

The Evolution of the Federal Budget Process
Federal spending is necessary for the economy and is essential to the accomplishment of national goals and advancement. This is why a budget is
needed, however, there is no actual process mentioned in the Constitution that explains how Congress should do this. The Constitution states:
No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of Receipts
and Expenditures of all public Money shall be published from time to time. (U.S. Constitution, Article 1, Section 9).
This statement only says that the power has been designated to Congress. It does not stipulate how to use this power nor does it give instructions for
the budgeting process. Even as the role of ... Show more content on Helpwriting.net ...
Prior to this, the legislative branch had no way to determine is own spending priorities and had nothing to compare to the President's budget. The
Congressional Budget Act of 1974 also created several other instruments for Congress to use during budgeting. First, the Congressional Budget Office
was conceived to provide financial data to Congress. This financial data includes an economic analysis of the President's budget and its own budget
proposal for comparison. Previously, Congress had no choice but to use information from the Office of Management and Budget which was part of
the executive branch. After the CBO was created, Congress was liberated from its reliance on the information from the executive branch. Second, it
also created the House and Senate budget committees. These committees deliberate over the President's budget using the CBO's report as a guideline.
They then draft and prepare the budget resolutions for each house. Once again, legislature was used to further define the government budgeting
process. It did not, however, include instructions as to how to achieve actual budgeting goals such as a balanced budget or lowered debt. It has failed
to set a reform to force hard decisions.
Conclusion
The separation of power doctrine as well as the checks and balances system have created a culture of restraint between the legislative and executive
branches. Each branch's initial instinct is always to contain the

The Federal Budget For The United States
The Federal budget for the United States is a very important part of what the president must put together every year so every department in the
government can know what they will be able to spend in the upcoming year. Government spending generally exceeds the budget put in place which is
why America is so far into debt, the good thing about the budget is that about 21% of it goes back into the economy. The fiscal policy is how the
government spending and taxation influence the economy based on what goods and services are purchased or the taxes collected. The federal budget
is split into three parts the mandatory spending, discretionary spending, and interest on debt. It may seem like the interest on debt would need the
biggest part of the budget because the U.S. is trillions of dollars in debt, but this part of the budget actually takes up the least amount of money. The
mandatory and discretionary take up a little over 90% of the whole budget paying for all of the services the government provides citizens. The
discretionary spending in the United States mostly goes to the military forces and pentagon, while a very small part of that budget goes to education,
health services, food assistance, among many others. The Mandatory spending is the spending category where congress authorizes spending that is not
in the normal appropriations process. This budget category includes Medicare, social security, food stamps, along with a large amount on
transportation. All of these

The Federal Budget Process Essay
Running head: The Federal Budget Process The Federal Budget Process Abstract This report focuses on the federal budget process of the United
States of America. The annual federal budget begins with a detailed proposal from the President in February. The budget request is developed by the
President's Office of Management and Budget (OMB). Next, Congress creates a blueprint called a budget resolution that sets limits on how much each
committee can spend (or reduce revenues) over the course of the year. The terms of the budget resolution are then enforced against individual
appropriations, entitlement bills, and tax bills on the House and Senate floors. In addition, Congress sometimes uses a special procedure called... Show
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Second, the president uses the budget request to lay out his relative priorities for federal programs (Myers, et al, 1989; Policy Basics, 2011). "The
President's budget is very specific, and recommends funding levels for individual federal programs or small groups of programs called "budget
accounts." The budget typically sketches out fiscal policy and budget priorities not only for the year but for the next five years or more. It is also
accompanied by historical tables that set our past budget figures" (Policy Basics, 2011 Para 4). The third role that the President's budget plays is
that it can be used to alert Congress of what spending and tax policy changes the President recommends. It is not necessary for the President to
propose legislative changes for those parts of the budget that are governed by permanent law if he feels none are needed (Policy Basics, 2011).
Majority of the federal tax code is set in permanent law, and will not expire. Similarly, more than one–half of federal spending – including the three
largest entitlement programs (Medicare, Medicaid, and Social Security) – is also permanently enacted. Interest paid on the national debt is also paid
automatically, with no need for specific legislation. (There is, however, a

Federal Budget Goals
What is the main goal in creating the federal budget of United States? One of the most significant policy instruments of the government is creating the
Federal Budget. The elected leaders must fulfill their constitutional responsibilities through their budget decisions, manage the federal purse and
signal their policy priorities. The size of the federal government and its role in the national economy is defined by these decisions. It also signals
when to tax and spend, consume and invest and borrow and lend. Policy makers use the federal budget process to create spending priorities and
categorize revenue to pay for those activities. Therefore, determining the size and scope of the decisions make the whole budget process the most
crucial and complex drills in the public policy making. Understanding the federal budget process... Show more content on Helpwriting.net ...
Programs with a higher priority receive more funding than those considered less priority. Each government program, agency, and activity receive a
certain amount of money. Preparing the budget is indeed a very complicated and political process. Getting it through the congress is a very long and
effortful procedure. The white house and the Congress must discuss the federal expenditures (budget) every year. When the Budget and Accounting
Act of 1921 was established, the President began to have the authority to prepare the budget every year. In 1970, the Executive Office of the White
House created the Office of Management and Budget (OMB), this office collects and analyzes the requests for budget and funding from all government
departments and agencies and advises the President on budget policy. When OMB is done with the computation and analyzation, it will put the budget
together basing on the calculated revenues and expenditures then submit it to Congress January of every

Federal Budget Analysis
Reading the Federal Budget The federal budget is a vital part of every country because the future spending totally depends on the number of money
earned by the country during the year. The governments create a special commission that is obliged to form a well–established government, with the
fair distribution of money. The National Priorities Project (NPP) is a unique non–profit organization that presents the budget system to ordinary
citizens and makes it fully transparent and accessible, so everyone who wants can see where do the government collect money, and the spend it during
the fiscal year. The two main questions about the federal budget that are important for the overall understanding ofeconomics and the government role
in the formation ... Show more content on Helpwriting.net ...
They created a system with numerous taxes and fees that affect every part of human life, so even when somebody buys a little sandwich, some
amount of money also goes to the budget. This system of taxes and fees was created with the early establishment of the country and develops from
year to year. Sometimes when the government needs more money to spend, they just create an additional tax that will raise enough money.
According to the National Priorities Project (NPP), the federal government raises trillions of dollars in tax revenue each year, and for example,
during the 2015 fiscal year, the government earned $3.18 trillion. So, the main sources of American budget are taxes and other fees, but they also
differ from each other. According to the National Priorities Project (NPP), the three main types of taxes are, income taxes paid by individuals,
payroll taxes paid jointly by workers and employers, and corporate income taxes paid by businesses. Between these three types of taxes, the income
taxes play the biggest role (near 50%), so it is clear that national budget is formed by ordinary citizens who pay their taxes. Some of the citizens are
not satisfied with such distribution and believes, that corporations and business owners should play the biggest role in taxation, while ordinary citizens
should pay lower taxes. Despite this controversy, the modern taxation system was formed many years ago, and nowadays it performs well, so there is
no direct reason to change

A Personal Budget Can Be A Reflection Of A Federal Budget
A personal budget can be a reflection of a Federal budget. The process to creating a budget for either personal or federal would involve several
steps. However, as you will see, a federal budget has a lot more involved than just a personal budget. In making a federal budget a number of
parties are involved, which makes it a lot more complex. All of this includes having an estimate of revenue and an estimate of expenses. In order
to make a personal budget you have to figure out what your income is for a period of time (like a month). You then would estimate your savings
and expense for the month. You have to think of the regular expense that you have such as food and gas as well as the occasional cost like
birthday gifts or unexpected repairs. It is a good idea to know what your regular bills are and how much you bring in from your paycheck during
that period of time that you look at. The federal budget works in a similar way. A fiscal year is more than twelve months. It has to be from October
first through September thirtieth. The first step in making a federal budget includes taking the estimated accounts for a period of twelve months
chosen. The government begins in October and ends in September of the next year. This period is called a fiscal year. In that year they take all the
revenue and expenditure in order to help create an estimate for the following fiscal year, just like you would for a personal budget plan. Revenue is
talking about where the money has come from.

Balancing The Federal Budget Process
Group Project Joint Paper: Balancing the Federal Budget
Luis A. Santiago–Gaetan, Abby Baumann, and Erin Kirchner
University of Massachusetts–Amherst
Introduction This is Red Team's joint paper on balancing the budget of the government of the United States of America. Red Team's (from here on we
/our) position regarding balancing the budget and reducing the federal deficit varies slightly. In many ways some team members believe that the
federal budget is much like any other budget, with a set amount of money coming in, a set of expenditures that are "mandatory", and the choice to
save any money left over for emergencies, or spend it on those things that aren't mandatory. Some team members also believe that increasing taxes or
cutting spending alone will not effectively reduce the deficit and balance the federal budget. However, the federal budget process is a complex one.
How, where and when does the federal budget process originate? The first step in the Federal budget process as required by law is the President's
Budget Request, initiated every February. The purpose of this budget request is to allow the President to make recommendations pertaining to how
much money the federal government needs to operate successfully, how much money the government needs to collect, in the form of tax revenue, and
how much of a budget surplus or deficit the budget will have for the following fiscal year. The second step in the budget process is the Congressional
Budget Resolution, which

The Budget Of The Federal Budget
Summary
The federal budget has been of much concern in the past decade. The public is growing increasingly aware of the growing federal debt but nobody is
offering solutions to our country's deficit spending. Thus the public is uniformed about how much money is spent on certain programs such as Social
Security, Medicare, and Medicaid. In Red Ink, David Wessel offers a comprehensive view about what consists of the federal budget, how the
government receives revenues, and how the government spends this money. The book begins by summarizing the federal budget. Wessel starts by
headlining that the U.S government is spending an incomprehensible "400 million dollars an hour, more than $30,000 per American household"
(Wessel 20). To add to this outstanding figure, almost two–thirds of this is classified as mandatory spending which means that Congress doesn't decide
on a year–to–year basis whether to approve the expenditures. Throughout the book, Wessel reminds the reader that most of the federal budget is set in
stone and that in order to eliminate deficits, substantial spending cuts or tax increases are necessary
Wessel spends a big portion of the book explaining how Social Security really works: "the system depends on the current working generation to
support today's retirees" (Wessel 86). He states that the country will face the biggest Social Security expenditures in the next several years when the
baby boomers will entire retirement. On the other hand, the defense budget is

The Federal Budget Analysis
The federal budget deals with the funding for each fiscal year. This budget set spending limits to allocate funding for specific federal funding. The
budget provides data on financing of the government, receipt and surplus for different periods. There is a degree of complication when it comes to the
budget but the best way to understand it is to verify what's in the budget. According to the authors, the budget can contain expenditure control which
provide payments for goods and services, management resources is an area where the organizations develops resources and planning for future
allocation" (Lee, Johnson and Joyce 2013, 187). The various agencies will have information showing the different allocation within their budget.
Agencies such as the Office of Management and Budget and the Government Accountability Office provides data and analysis. For example, "these
agencies help determine strengths and weaknesses of programs, and assist in allocating resources in the budgetary process" (Lee, Johnson and Joyce
2013, 187). Chief executive develops strategies and help in the decision making process for their corporations. They also promote overall growth of the
corporations. This ... Show more content on Helpwriting.net ...
This particular body has the authority to appropriate funds for the budget and the program administration. Also the legislative body has the authority to
do cutbacks. As noted by the authors, "some communities have used confidential questionnaires and other techniques for soliciting legislative input
when budget cutting must be part of the preparation phase" (Lee, Johnson and Joyce 2013, 250). The various offices and bodies may vary and have
different responsibilities, but they are all focusing on the improving the organization that they serve and the community. They want to develop and
review how to improve the performance of their organizations daily

Essay On The Federal Budget Process
The Federal budget process is like our budget but federal, the federal budget can be compared to a personal budget. A personal budget allows and
individual to limit and spend a certain amount of money or on household items, goods and services. The government's budget works in the same
way as our's does, the government has to spend their money in three different areas, these area are mandatory spending, discretionary spending, and
interest on debt. If the government exceeds their budget amount they will have to cut some of their spending cost to some areas. An example of
exceeding cost would be when we exceed are budget on groceries or items for are home, if these does happen will have to reduce the amount we
buy or buy a cheaper version of it to stay within our limited budget. The government has a policy for the federal budget process, this policy is called
the fiscal policy. The fiscal year is a twelve month period that keeps account for how much money the government spends within that twelve month
period. The year begins on... Show more content on Helpwriting.net ...
After it goes through that it must go through members of congress, the members of congress must all agree on the new federal budget bill that they
want, the members of congress must then chose what departments they want to spend the budget on, the budget that the congress uses goes through
two different spending areas these two areas are called Mandatory spending and Discretionary spending, the first spending area it must go through is the
Mandatory spending, Mandatory spending is the spending the government must do because it is set by the law outside the budget

The Federal Government Budget Process
When it comes to the government not many people fully understand what is going on, especially when it comes to the budget and how they decide
what to spend things on. Some people just tend to look at a country and see a huge amount of debt and just assume that the country isn't doing well.
When people look at the United States of America they see a country that is a world power. People see a country that overcame many conflicts and is
still trying to develop further, as much as possible. A country that has a lot of opportunities. But those opportunities would be in place if there wasn't a
process for the federal government budget. The United States government is filled with many checks and balances to avoid conflicts. Whether it's
though ... Show more content on Helpwriting.net ...
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.
The second step to creating the federal government budget is the House and Senate pass budget resolutions. "A budget resolution is not a binding
document, but it provides a framework for Congress for making budget decisions about spending and taxes." In this process they set limits but do not
create the actual budgets for the programs. "After the House and Senate pass their budget resolutions, some members from each come together in a
joint conference to iron out differences between the two versions, and the resulting reconciled version is then voted on again by each chamber."
The third step to creating the federal government budget is the House and Senate Appropriations subcommittees "markup" appropriations bills. "The
chair of each subcommittee writes a first draft of the subcommittee 's appropriations bill, abiding by the

Federal Government's Difficulty in Adopting a Budget
Over the past few years the federal government has experienced considerable difficulty in adopting a budget. Instead of agreeing to a budget that
allows for the orderly operation of the government's various agencies and determines the nation's annual spending and revenue priorities, legislative
and executive branches have been embroiled in acrimonious debate that has largely broken down along political lines. The presence budgetary
process was originally created in 1974 (Keith, 1997) and there have been a number of abuses and problems over the years since in the use of the
process but since the early 2000s the process has largely failed to serve the nation's needs. With increasing difficulty, Congress has, since that time,
been unable to smoothly adopt a budget with most budgets since that time being delayed until well into the fiscal year and, most recently, a complete
failure to adopt a budget. In the forty plus years since the present budgetary process was created, a variety of problems have developed which have
hampered the operation of the government (Pew Commission, 2010). First among these problems is the fact that the present system does not require
the executive and legislative branches to begin negotiating their potential differences over the budget until late in the budgetary process. By the time
that the two branches are expected to begin discussing their differences the budgetary process has been proceeding for months and the various agencies
dependent on the

The Cost Of Medicare And Reduce Its Proportion Of The...
Several suggestions have been proposed to cut the cost of Medicare and reduce its proportion of the federal budget. These include;
a)The introduction of voucher system that would enable for the more privatization in the offering of insurance policies for Medicare.
b)Increasing the Medicare revenues by raising the payroll taxes that are charged on the beneficiaries. Unhealthy lifestyle choices like smoking also
need to be penalized by Medicare so as to reduce the many claims related to such habits.
c)Cutting down the Medicare expenses through elimination of frauds, raising of eligibility age to 67, and seeking program discounts from medical
companies like drug manufacturers.
Fraud and waste of resources allocated for Medicare pose major risks to the program. Medicare is very vulnerable to a number of frauds majorly
due to the fact that the program is hardly audited. Medicare scams occur in various ways that include phantom billing where healthcare providers
demand money from Medicare for services not offered. The other form of fraud happens in the shape of patient billing where the patients collude with
scammers to claim for kickbacks for false medical treatments. The last type of fraud is the upcoding scheme and unbundling, where bills are inflated
by claiming that a patient needs more valuable services or procedures than the existing. The government has been sensitizing the general public on the
need to avoid such frauds by not disclosing their Medicare card details to

Essay On The Federal Budget
A couple of large concerns always arise when discussing politics: the state of the Union, what the president is currently doing, and a few other topics.
No topic, however, is as talked about in major concern than the federal budget. As tax payers, the American people always wishes to know where
their tax dollars are going. The problem is that very few people actually know who sets the federal budget, and how much power this branch of
government really has.
The governmental branch that controls the federal budget is the legislative branch, also known as Congress. An instance when Congress really
stretched its muscles in terms of the federal budget was the Congressional Budget and Impoundment Control Act of 1974. This bill permitted Congress
... Show more content on Helpwriting.net ...
This establishes the total targets of five budget key areas: authority, outlays, revenues, surplus or deficit, and public debt. The resolution also sets a
budget authority and outlay targets of each of the 21 spending categories. Finally, the committee prepares guidelines in the annual budget resolution for
cutting programs to meet spending targets. A few other key responsibilities that the HBC may receive is to sometimes includereconciliation
instructions that instruct committees to develop legislation that will change current revenue or direct spending laws to conform with policies
established in the budget resolution, and to make summary budget scorekeeping reports in order to measure the budgetary effects of pending and
enacted legislation against the levels recommended in the budget resolution.
Another budget committee is the Senate Budget Committee, or SBC. The SBC's prime responsibilities is very much like the House Budget
Committee's, where the SBC must draft budget plans for Congress and monitor and enforce rules surrounding spending, revenue, and the federal
budget. The only difference between the HBC and SBC is their resolution to the budget, which is jointly agreed upon through a conference committee
and becomes the budget resolution, or federal budget. This budget does not become a new law of the US as the president does not sign

Federal Budget Deficit Analysis
Federal Budget Deficit Projected to Soar to Over $1 Trillion in 2020 The annual budget for the Federal Government is predicted to increase over
the next few years. In fact, it's supposed to surpass $1 trillion dollars in 2020, even though the economy is growing at a healthy rate, the
Congressional Budget Office says. The national debt has gone beyond $21 million and even goes from there to past $33 trillion in 2028. By then, the
public's debt will almost match the size of the economy. It'll be at 96% which is higher than post World War to and past the crisis point. Some
economists think that increasing deficits will bring interest rates up, expand private sector's borrowing costs, and prices of tank stock. All this will
decrease the growth... Show more content on Helpwriting.net ...
A deficit in economics is when there is a surplus over expenditures in a certain time period. Here in the article, the government spent more than what the
budget allowed. The government controls government spending and doesn't affect investments and consumption. Social insurance programs are talked
about in the article. These are programs from the government (transfer payments) meant to protect families for economic hardships. Examples of these
transfer payments mentioned in the article are medicare and social security. This relates to fiscal policy and government transfers because it is a
government transfer. Fiscal policy is also the use of taxes, government transfers or purchases made by the government that shift the aggregate demand
curve. Expansionary fiscal policy increases aggregate demand and the factors that contribute are a tax cut, increase in government transfers and an
increase in purchases in goods and services by the government. We see those factors throughout the article as it talks about growing deficits because of
the Social Security and Medicare. Expansionary policy is incorporated into the article when the budget office discusses the prediction of high interest
rates so Americans will purchase more

The Federal Budget Deficit
The Federal Budget Deficit Introduction The federal budget deficit is a much discussed and little understood subject in American politics. The
current recession has dramatically decreased tax revenues, driving the United States federal government to increase spending in an attempt to
stabilize the economy. As a result the current federal deficit is at over $1.3 trillion dollars. This is approximately $47,754 per U.S. citizen or
$137,552 per U. S. taxpayer (U.S. Debt Clock: Real Time, 2012). Many contend that deficit reduction is imperative to our prosperity and economic
recovery. The deficit is blamed for a variety of economic ills including high interest rates, unemployment, the trade deficit, the low rate of national
saving and low productivity growth (Shaviro, 1997). The Causes of the Budget Deficit Many believe the country's dramatic decent into debt began
with a choice, not a crisis. In January of 2001, with the budget balanced, the Congressional Budget Office (CBO) forecast that the nation would
have over a $2 trillion dollar surplus by 2010, enough money to pay off the entire national debt. In the years following 2001 political leaders chose
to cut taxes, increase spending, and wage two wars solely with borrowed funds (Montgomery, 2011). Today the national debt is larger, as a percentage
of the economy, than at any time in U.S. history except for the period shortly after World War II. According to a recent Gallup Poll most Americans
blame the federal

Pros And Cons Of The Federal Budget
The federal budget is designed every year by undergoing an arduous process to be ratified as a law. Under the regulations of the Budget and
Accounting Act of 1921, the president first sends a federal budget request to the United States Congress reflecting the needs of federal agencies to
work properly in the coming year. A debate in Congress ensues in response to the President's budget request and eventually a budget resolution is put
together by committees from both parties in the House of Representatives in the Senate which is then turned into actual spending bills called
"appropriations bills". A unique conference committee comes together to settle appropriations disputes between the House of Representatives and the
Senate, potentially leading to the president's signing of a veto of the proposed budget into law, which the president (by law) is... Show more content on
Helpwriting.net ...
The federal budget has three main categories which the US Treasury spends it's money including mandatory spending, discretionary spending, and
interest on debt. The discretionary and mandatory spending is what Congress most vigorously disputes and what ends up causing the most regret
during each budget year for the President as tese expenditures "account for more than ninety percent on total federal spending". Inevitably, certain
expenditures end up being too meager or robust for certain causes and these truths only present themselves as the fiscal year progresses. Much to the
dismay of presidents, their powers do not allow them to reappropriate spending as they are required by law to allow the federal government to spend
the money as the congress negotiated and the president agreed to in their signature of the bill. Although an argument can be made against giving the
President too much power, in light of yearly budget failures, the President should be allowed to renegotiate and amend the federal budget with
Congress as the year plays out so the taxpayer's money is not wasted and our country does not fall deeper into

Essay On Australian Federal Budget
Federal Budget (describe, outline aim and purpose)
The Australian federal Budget is the Government's annual financial report that sets out Australia's proposed fiscal income and spending for the
upcoming year through careful planning and prudent saving. The budget provides structure, financial record and discloses Australia's priorities by
providing allocated funding to specific sectors and departments of state. The budget aims to establish and stimulate a stable economy, invest in
Australia's future and provide a fairer tax and welfare system.
Budgetary measures and their impacts
Budgetary measure 1: Pensioners
The governments 2015 federal budget proposed changes include increasing the assets test limit to qualify for a full pension, ... Show more content on
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Receiving an extra income will increase consumer spending and benefit firms, therefore promoting economic consumption. Government expenditure
will also steadily decrease overtime.
Budgetary measure 2: Foreign Aid
The 2015 budget has revealed Foreign aid contributions will be reduced by a further $3.7 billion over the next three years in an attempt to tighten
Australia's border security.
Using the latest technology, Australian border forces and investing $35 billion, the government aims to reduce the threat of terrorism at our borders in
an effort to keep our country secure.
Foreign aid aims to reduce poverty and create sustainable economic growth and development in the Indo–Pacific regions whilst promoting Australia's
national interests. Australian aid helps to provide access to safe drinking water for 2.9 million more people and enable 1.4 million more children to
enrol in school.
These cuts will result in a decrease of government expenditure and an increase in household tax. Firms will suffer, with little support from the
government sector, reducing the circular flow of income. Household savings will increase, as they will be paying more in tax. Firms will then be
impacted because consumers will be spending

Balancing The Federal Budget Process
Balancing the Federal Budget
Luis A. Santiago–Gaetan, Abby Baumann, and Erin Kirchner
University of Massachusetts–Amherst
Introduction This is Red Team's joint paper on balancing the budget of the government of the United States of America. Red Team's (from here on we
/our) position regarding balancing the budget and reducing the federal deficit varies slightly. In many ways some team members believe that the
federal budget is much like any other budget, with a set amount of money coming in, a set of expenditures that are "mandatory", and the choice to
save any money left over for emergencies, or spend it on those things that aren't mandatory. Some team members also believe that increasing taxes or
cutting spending alone will not effectively reduce the deficit and balance the federal budget. However, the federal budget process is a complex one.
How, where and when does the federal budget process originate? The first step in the Federal budget process as required by law is the President's
Budget Request, initiated every February. The purpose of this budget request is to allow the President to make recommendations pertaining to how
much money the federal government needs to operate successfully, how much money the government needs to collect, in the form of tax revenue, and
how much of a budget surplus or deficit the budget will have for the following fiscal year. The second step in the budget process is the Congressional
Budget Resolution, which is drafted by the House

The main difference between the federal budget and the...
The main difference between the federal budget and the state and local budgets is the issue of a monetary deficit, in which expenditures in the budget
exceeds revenues that were estimated. State and local governments are required to balance their budgets. The federal government is allowed to borrow
money to meet its obligations and have a deficit. The federal government collects the most tax revenue, but state and local governments have a greater
range of revenue options for funding their budgets. The federal government relies mainly on income taxes, capital gains and Social Security taxes.
State and local governments collect sales taxes, taxes on fuel, property taxes and fees from special licenses and permits. Also, many state and local ...
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The next largest portion at almost 10% of the budget is allotted to Criminal Justice. In the state of Georgia we have 159 state funded prisons that
house over 57,000 inmates (Ga Prison Fact Sheet). This also includes over 13,000 state employees that run these facilities (AJC Prison). Each inmate
takes approximately $51 a day. This includes housing, meals and general day to day activities (Ga Prison Fact Sheet). Forth largest in the Georgia
budget is for Debt Services. Debt services include the payments of the principal and interest of any general or long term obligation that the state has
accrued. This amount is over $64 million in 2012. Lastly, the fifth largest budget allocation is for transportation. Transportation encompasses road
repair, improving the efficiency of the movement of goods, construction of new roads and Highways and reducing congestion within the state. Along
with these services, the salaries and benefits of their employees are figured into this section of the budget (Georgia Budget site). Figure 3: Local Budget
(Cobb County Budget). This budget shows the breakdown on the spending in Cobb County Georgia. Cobb County includes portions of Atlanta and is
just north of Fulton County, which contains the largest portion of the city of Atlanta. The largest portion of the Cobb County budget goes

State Budget Vs Federal Budget
What is a budget? A budget forecasts the financial results and financial position of a company for one or more future periods. A budget is used for
planning and performance measurement purposes, which can involve spending for fixed assets, rolling out new products, training employees, setting
up bonus plans, controlling operations, and so forth (Bragg, 2017).
The state of Georgia use different budgeting tools for example revenue projection. The state budget is made up from the children that are attending grade
school from kindergarten thru twelfth. Low–income parent and children and elderly individuals who is in need of medical coverage are included as
well. Georgia Department of Transportation also falls into the state budget along with Georgia Department of Corrections facilities. ... Show more
content on Helpwriting.net ...
Like most states, Georgia collects revenue from a mix of personal and corporate income taxes, sales taxes, gas and vehicle taxes, and various other
levies and fees. Income taxes are the cornerstone of Georgia's revenue system, accounting for about half of all state funds. Sales taxes are the second
largest revenue source, accounting for nearly a quarter of annual collections. A fair and reliable revenue system requires both of these taxes (Bragg,
2017)."With budgeting, the federal government use different budgeting tools for example they may use pie graphs or budget trends graphs. The
federal budget is made up of General Funds which consist of education, public safety and most other traditional state services are paid for from the
General Fund, which includes money raised by the motor fuel tax for

Federal Budget Dbq
The Preamble and Federal Budget: Are we slicing the pie correctly? "The federal budget is the yearly plan for how the US government will spend the
money it takes from taxes and borrowing." After thoroughly analyzing the federal budget from 2012, it is unquestionably evident that a majority of
the money is being put into a few major categories, leaving room for the rest of the smaller categories to be financially neglected. Is this fair? It seems
that the money could be more fairly distributed, and that there is room for cuts in some of the larger categories, to improve the littler ones. In each of
the three budget clusters, the US Government should make adjustments in the way it is distributing money; changes involving the big five, the middle...
This category includes: Natural Resources and Environment, NASA, Energy, FBI, and National Park Service. National resources and
environment, energy, and the FBI all play a vast role in supporting the nation's preamble by ensuring the general welfare of the people and
providing common defense. That leaves NASA and the National Park Service, and seeing as the national park service receives the smallest amount
out of all the categories as is, it seems illogical that any money be taken from there. It is rather alarming; however, that NASA is receiving the
second largest amount of money of the five in the little guys. As cool as NASA is, it isn't a necessity for the country, and the money could probably
be way better spent. The changes I would make to the little guys would be to cut NASA's budget and either give the money to the FBI or the education

Budget Deficit Is The Amount Of Federal Money
1) Budget Deficit
Def: It is the amount of federal money spent each year that is more than the federal income, so that the federal expenditure is greater than the federal
revenue.
CE: In 2016, the Congressional Budget Office faintly decreased the estimation of the government's budget deficit by $10 billion from the original
$534 billion for the fiscal year of 2016.
2) Expenditures
Def: It is the amount of federal money or revenue that is spent, especially on social programs like social security.
CE: In 2014, the Republicans and Democrats revealed a $1 trillion expenditure deal that would raise the pay for federal workers and have a generally
large outcome on the lives of American citizens.
3) Fiscal Year
Def: It begins on October 1st and ends on September 30th, where the federal budget plan is developed.
CE: In the fiscal year of 2016, the Congressional Budget Office dimly decreased the government's budget deficit by $10 billion from its original amount
of $534 billion.
4) 16th Amendment
Def: Created in 1913, it's a constitutional amendment that allows Congress to collect an income tax.
CE: In 2011, the Republican presidential candidate Rick Perry took back his proposal to repeal the 16th amendment due to his presidential bid in 2012.
5) Authorization Bill
Def: They establish entitlements and discretionary government programs, which they either continue or change.
6) Appropriation Bill
Def: It's passed every year to cover the budget year and give authorization for

The Importance Of The Federal Budget
Government budgets no matter on the federal or local level are important because they give insight into what the government's priorities are for
that fiscal year. The current budget in Georgia for the 2017 fiscal year is 43.7 billion dollars. This number is broken down in three areas. The
state's budget is 23.7 billion. The federal budget for the year is 13.7 billion and the other funds they 6.3 billion. The Great Recession caused a dramatic
decrease in state revenues from the 2008 to 2010 fiscal years, falling by $3.6 billion, or 19.2 percent. Revenues improved at a moderate pace since the
2011 fiscal year and have picked up since 2014, yet inflation–adjusted, per–capita state revenue in 2017 is still expected to fall short of pre–recession ...
Program budgeting is a system of managing government expenditures by attempting to compare the program proposals of all government agencies
authorized to achieve similar objectives (Hyman, 2014). Program budgeting allows decisions to be made regarding which programs will be offered, to
meet the missions, the lowest cost. Incremental budgeting is less drastic, the current fiscal year serves as the basis for small incremental changes in the
next fiscal year. Incremental budgeting is a pragmatic approach that seeks to minimize the resources that go into the budgetary process each year and
make it easier for governments to enact budgets (Hymn 2014). Cost– benefit analysis estimates and totals up the equivalent money value of the benefits
and costs to the community of projects to establish whether they are worthwhile. These projects may be dams and highways or can be training
programs and health care systems. Externalities that cause market inefficiencies are either positive or negative. Negative market inefficiencies will
cause the people demand government policies and or procedures to stop these effect such as pollution. Another impact of market inefficiencies could
be lower wages, which could result in more unemployment. Whether the impact in positive or negative the government plays a role in it. If positive the
government will offer an incentive for this product or service to continue, if negative consequences can be enforced so that negative effects are

Adjustments To The Federal Budget
The Federal Budget is the yearly plan for how the U.S. government will spend the money it takes in from taxes and borrowing. After analyzing it goes
to only 5 different groups while the money is allocated to smaller groups. In each of the three budget clusters, the U.S. Government should make
adjustments in the way it is distributing money. These adjustments involve changes in the Big 5, the Middle 5, and the Little Guys. The Big Five
should focus more on the interest on National Debt. Reason being is the quicker we can pay off the national debt, the more we can focus and budget
more on our defense and Medicare, Medicaid, and Health, education, energy, and national resources and environment. Those are major things to be
focused on and defense

Federal Budget Definition

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Federal Budget Definition