SlideShare a Scribd company logo
1 of 39
Download to read offline
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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. The federal 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
... Get more on HelpWriting.net ...
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;
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
Helpwriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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 ... Show more content on Helpwriting.net ...
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
... Get more on HelpWriting.net ...
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 more content on Helpwriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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,
... Get more on HelpWriting.net ...
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 include reconciliation 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
... Get more on HelpWriting.net ...
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 ... Show more content on
Helpwriting.net ...
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
... Get more on HelpWriting.net ...
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.
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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 of economics 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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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,
... Get more on HelpWriting.net ...
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 ... Show more content on
Helpwriting.net ...
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
... Get more on HelpWriting.net ...
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 Helpwriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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
... Get more on HelpWriting.net ...
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 more content on Helpwriting.net ...
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
... Get more on HelpWriting.net ...

More Related Content

More from Wendy Robertson

My First Day At College Essay With English Quotation
My First Day At College Essay With English QuotationMy First Day At College Essay With English Quotation
My First Day At College Essay With English QuotationWendy Robertson
 
Rainforests Writing Paper By TeacherLCG Teachers P
Rainforests Writing Paper By TeacherLCG  Teachers PRainforests Writing Paper By TeacherLCG  Teachers P
Rainforests Writing Paper By TeacherLCG Teachers PWendy Robertson
 
2023 International Essay Contest For Young People
2023 International Essay Contest For Young People2023 International Essay Contest For Young People
2023 International Essay Contest For Young PeopleWendy Robertson
 
Science Book Covers 50-99. Online assignment writing service.
Science Book Covers 50-99. Online assignment writing service.Science Book Covers 50-99. Online assignment writing service.
Science Book Covers 50-99. Online assignment writing service.Wendy Robertson
 
Buy A Narrative Essay Examples About Experienc
Buy A Narrative Essay Examples About ExperiencBuy A Narrative Essay Examples About Experienc
Buy A Narrative Essay Examples About ExperiencWendy Robertson
 
Abstract Example. 10 Good Abstract Examples That Wi
Abstract Example. 10 Good Abstract Examples That WiAbstract Example. 10 Good Abstract Examples That Wi
Abstract Example. 10 Good Abstract Examples That WiWendy Robertson
 
EssayReport Assessment Crite. Online assignment writing service.
EssayReport Assessment Crite. Online assignment writing service.EssayReport Assessment Crite. Online assignment writing service.
EssayReport Assessment Crite. Online assignment writing service.Wendy Robertson
 
Top Notch How To Write A Research Hypothesis And Null Non Chronologic
Top Notch How To Write A Research Hypothesis And Null Non ChronologicTop Notch How To Write A Research Hypothesis And Null Non Chronologic
Top Notch How To Write A Research Hypothesis And Null Non ChronologicWendy Robertson
 
Masters Writing Programs. Online assignment writing service.
Masters Writing Programs. Online assignment writing service.Masters Writing Programs. Online assignment writing service.
Masters Writing Programs. Online assignment writing service.Wendy Robertson
 
Write Esse Meta Analysis Research Paper Example
Write Esse Meta Analysis Research Paper ExampleWrite Esse Meta Analysis Research Paper Example
Write Esse Meta Analysis Research Paper ExampleWendy Robertson
 
Essay Tell Me About Yourself. How To Start An Essay
Essay Tell Me About Yourself.  How To Start An EssayEssay Tell Me About Yourself.  How To Start An Essay
Essay Tell Me About Yourself. How To Start An EssayWendy Robertson
 
10 Steps To Writing An AMAZING Research Repo
10 Steps To Writing An AMAZING Research Repo10 Steps To Writing An AMAZING Research Repo
10 Steps To Writing An AMAZING Research RepoWendy Robertson
 
Weather Writing Frames. Online assignment writing service.
Weather Writing Frames. Online assignment writing service.Weather Writing Frames. Online assignment writing service.
Weather Writing Frames. Online assignment writing service.Wendy Robertson
 
High School Vs College Compar. Online assignment writing service.
High School Vs College Compar. Online assignment writing service.High School Vs College Compar. Online assignment writing service.
High School Vs College Compar. Online assignment writing service.Wendy Robertson
 
College Experience Essay Essay On College Experien
College Experience Essay  Essay On College ExperienCollege Experience Essay  Essay On College Experien
College Experience Essay Essay On College ExperienWendy Robertson
 
6 Best Images Of Vintage Writing P. Online assignment writing service.
6 Best Images Of Vintage Writing P. Online assignment writing service.6 Best Images Of Vintage Writing P. Online assignment writing service.
6 Best Images Of Vintage Writing P. Online assignment writing service.Wendy Robertson
 
Manuscript Writing Paper Free Printable - Get What
Manuscript Writing Paper Free Printable - Get WhatManuscript Writing Paper Free Printable - Get What
Manuscript Writing Paper Free Printable - Get WhatWendy Robertson
 
Kindergarten Printable Paper Huge Selection Of Blank Li
Kindergarten Printable Paper Huge Selection Of Blank LiKindergarten Printable Paper Huge Selection Of Blank Li
Kindergarten Printable Paper Huge Selection Of Blank LiWendy Robertson
 
India Writing Papers (A Country Study. Online assignment writing service.
India Writing Papers (A Country Study. Online assignment writing service.India Writing Papers (A Country Study. Online assignment writing service.
India Writing Papers (A Country Study. Online assignment writing service.Wendy Robertson
 
About Teachers Essay. Online assignment writing service.
About Teachers Essay. Online assignment writing service.About Teachers Essay. Online assignment writing service.
About Teachers Essay. Online assignment writing service.Wendy Robertson
 

More from Wendy Robertson (20)

My First Day At College Essay With English Quotation
My First Day At College Essay With English QuotationMy First Day At College Essay With English Quotation
My First Day At College Essay With English Quotation
 
Rainforests Writing Paper By TeacherLCG Teachers P
Rainforests Writing Paper By TeacherLCG  Teachers PRainforests Writing Paper By TeacherLCG  Teachers P
Rainforests Writing Paper By TeacherLCG Teachers P
 
2023 International Essay Contest For Young People
2023 International Essay Contest For Young People2023 International Essay Contest For Young People
2023 International Essay Contest For Young People
 
Science Book Covers 50-99. Online assignment writing service.
Science Book Covers 50-99. Online assignment writing service.Science Book Covers 50-99. Online assignment writing service.
Science Book Covers 50-99. Online assignment writing service.
 
Buy A Narrative Essay Examples About Experienc
Buy A Narrative Essay Examples About ExperiencBuy A Narrative Essay Examples About Experienc
Buy A Narrative Essay Examples About Experienc
 
Abstract Example. 10 Good Abstract Examples That Wi
Abstract Example. 10 Good Abstract Examples That WiAbstract Example. 10 Good Abstract Examples That Wi
Abstract Example. 10 Good Abstract Examples That Wi
 
EssayReport Assessment Crite. Online assignment writing service.
EssayReport Assessment Crite. Online assignment writing service.EssayReport Assessment Crite. Online assignment writing service.
EssayReport Assessment Crite. Online assignment writing service.
 
Top Notch How To Write A Research Hypothesis And Null Non Chronologic
Top Notch How To Write A Research Hypothesis And Null Non ChronologicTop Notch How To Write A Research Hypothesis And Null Non Chronologic
Top Notch How To Write A Research Hypothesis And Null Non Chronologic
 
Masters Writing Programs. Online assignment writing service.
Masters Writing Programs. Online assignment writing service.Masters Writing Programs. Online assignment writing service.
Masters Writing Programs. Online assignment writing service.
 
Write Esse Meta Analysis Research Paper Example
Write Esse Meta Analysis Research Paper ExampleWrite Esse Meta Analysis Research Paper Example
Write Esse Meta Analysis Research Paper Example
 
Essay Tell Me About Yourself. How To Start An Essay
Essay Tell Me About Yourself.  How To Start An EssayEssay Tell Me About Yourself.  How To Start An Essay
Essay Tell Me About Yourself. How To Start An Essay
 
10 Steps To Writing An AMAZING Research Repo
10 Steps To Writing An AMAZING Research Repo10 Steps To Writing An AMAZING Research Repo
10 Steps To Writing An AMAZING Research Repo
 
Weather Writing Frames. Online assignment writing service.
Weather Writing Frames. Online assignment writing service.Weather Writing Frames. Online assignment writing service.
Weather Writing Frames. Online assignment writing service.
 
High School Vs College Compar. Online assignment writing service.
High School Vs College Compar. Online assignment writing service.High School Vs College Compar. Online assignment writing service.
High School Vs College Compar. Online assignment writing service.
 
College Experience Essay Essay On College Experien
College Experience Essay  Essay On College ExperienCollege Experience Essay  Essay On College Experien
College Experience Essay Essay On College Experien
 
6 Best Images Of Vintage Writing P. Online assignment writing service.
6 Best Images Of Vintage Writing P. Online assignment writing service.6 Best Images Of Vintage Writing P. Online assignment writing service.
6 Best Images Of Vintage Writing P. Online assignment writing service.
 
Manuscript Writing Paper Free Printable - Get What
Manuscript Writing Paper Free Printable - Get WhatManuscript Writing Paper Free Printable - Get What
Manuscript Writing Paper Free Printable - Get What
 
Kindergarten Printable Paper Huge Selection Of Blank Li
Kindergarten Printable Paper Huge Selection Of Blank LiKindergarten Printable Paper Huge Selection Of Blank Li
Kindergarten Printable Paper Huge Selection Of Blank Li
 
India Writing Papers (A Country Study. Online assignment writing service.
India Writing Papers (A Country Study. Online assignment writing service.India Writing Papers (A Country Study. Online assignment writing service.
India Writing Papers (A Country Study. Online assignment writing service.
 
About Teachers Essay. Online assignment writing service.
About Teachers Essay. Online assignment writing service.About Teachers Essay. Online assignment writing service.
About Teachers Essay. Online assignment writing service.
 

Recently uploaded

Crayon Activity Handout For the Crayon A
Crayon Activity Handout For the Crayon ACrayon Activity Handout For the Crayon A
Crayon Activity Handout For the Crayon AUnboundStockton
 
call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️9953056974 Low Rate Call Girls In Saket, Delhi NCR
 
EPANDING THE CONTENT OF AN OUTLINE using notes.pptx
EPANDING THE CONTENT OF AN OUTLINE using notes.pptxEPANDING THE CONTENT OF AN OUTLINE using notes.pptx
EPANDING THE CONTENT OF AN OUTLINE using notes.pptxRaymartEstabillo3
 
Quarter 4 Peace-education.pptx Catch Up Friday
Quarter 4 Peace-education.pptx Catch Up FridayQuarter 4 Peace-education.pptx Catch Up Friday
Quarter 4 Peace-education.pptx Catch Up FridayMakMakNepo
 
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...Nguyen Thanh Tu Collection
 
Planning a health career 4th Quarter.pptx
Planning a health career 4th Quarter.pptxPlanning a health career 4th Quarter.pptx
Planning a health career 4th Quarter.pptxLigayaBacuel1
 
ECONOMIC CONTEXT - LONG FORM TV DRAMA - PPT
ECONOMIC CONTEXT - LONG FORM TV DRAMA - PPTECONOMIC CONTEXT - LONG FORM TV DRAMA - PPT
ECONOMIC CONTEXT - LONG FORM TV DRAMA - PPTiammrhaywood
 
What is Model Inheritance in Odoo 17 ERP
What is Model Inheritance in Odoo 17 ERPWhat is Model Inheritance in Odoo 17 ERP
What is Model Inheritance in Odoo 17 ERPCeline George
 
Types of Journalistic Writing Grade 8.pptx
Types of Journalistic Writing Grade 8.pptxTypes of Journalistic Writing Grade 8.pptx
Types of Journalistic Writing Grade 8.pptxEyham Joco
 
Introduction to AI in Higher Education_draft.pptx
Introduction to AI in Higher Education_draft.pptxIntroduction to AI in Higher Education_draft.pptx
Introduction to AI in Higher Education_draft.pptxpboyjonauth
 
Earth Day Presentation wow hello nice great
Earth Day Presentation wow hello nice greatEarth Day Presentation wow hello nice great
Earth Day Presentation wow hello nice greatYousafMalik24
 
Gas measurement O2,Co2,& ph) 04/2024.pptx
Gas measurement O2,Co2,& ph) 04/2024.pptxGas measurement O2,Co2,& ph) 04/2024.pptx
Gas measurement O2,Co2,& ph) 04/2024.pptxDr.Ibrahim Hassaan
 
Grade 9 Q4-MELC1-Active and Passive Voice.pptx
Grade 9 Q4-MELC1-Active and Passive Voice.pptxGrade 9 Q4-MELC1-Active and Passive Voice.pptx
Grade 9 Q4-MELC1-Active and Passive Voice.pptxChelloAnnAsuncion2
 
Procuring digital preservation CAN be quick and painless with our new dynamic...
Procuring digital preservation CAN be quick and painless with our new dynamic...Procuring digital preservation CAN be quick and painless with our new dynamic...
Procuring digital preservation CAN be quick and painless with our new dynamic...Jisc
 
Judging the Relevance and worth of ideas part 2.pptx
Judging the Relevance  and worth of ideas part 2.pptxJudging the Relevance  and worth of ideas part 2.pptx
Judging the Relevance and worth of ideas part 2.pptxSherlyMaeNeri
 
Computed Fields and api Depends in the Odoo 17
Computed Fields and api Depends in the Odoo 17Computed Fields and api Depends in the Odoo 17
Computed Fields and api Depends in the Odoo 17Celine George
 
ENGLISH 7_Q4_LESSON 2_ Employing a Variety of Strategies for Effective Interp...
ENGLISH 7_Q4_LESSON 2_ Employing a Variety of Strategies for Effective Interp...ENGLISH 7_Q4_LESSON 2_ Employing a Variety of Strategies for Effective Interp...
ENGLISH 7_Q4_LESSON 2_ Employing a Variety of Strategies for Effective Interp...JhezDiaz1
 

Recently uploaded (20)

Crayon Activity Handout For the Crayon A
Crayon Activity Handout For the Crayon ACrayon Activity Handout For the Crayon A
Crayon Activity Handout For the Crayon A
 
call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
 
EPANDING THE CONTENT OF AN OUTLINE using notes.pptx
EPANDING THE CONTENT OF AN OUTLINE using notes.pptxEPANDING THE CONTENT OF AN OUTLINE using notes.pptx
EPANDING THE CONTENT OF AN OUTLINE using notes.pptx
 
Quarter 4 Peace-education.pptx Catch Up Friday
Quarter 4 Peace-education.pptx Catch Up FridayQuarter 4 Peace-education.pptx Catch Up Friday
Quarter 4 Peace-education.pptx Catch Up Friday
 
Model Call Girl in Bikash Puri Delhi reach out to us at 🔝9953056974🔝
Model Call Girl in Bikash Puri  Delhi reach out to us at 🔝9953056974🔝Model Call Girl in Bikash Puri  Delhi reach out to us at 🔝9953056974🔝
Model Call Girl in Bikash Puri Delhi reach out to us at 🔝9953056974🔝
 
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - CẢ NĂ...
 
OS-operating systems- ch04 (Threads) ...
OS-operating systems- ch04 (Threads) ...OS-operating systems- ch04 (Threads) ...
OS-operating systems- ch04 (Threads) ...
 
Planning a health career 4th Quarter.pptx
Planning a health career 4th Quarter.pptxPlanning a health career 4th Quarter.pptx
Planning a health career 4th Quarter.pptx
 
ECONOMIC CONTEXT - LONG FORM TV DRAMA - PPT
ECONOMIC CONTEXT - LONG FORM TV DRAMA - PPTECONOMIC CONTEXT - LONG FORM TV DRAMA - PPT
ECONOMIC CONTEXT - LONG FORM TV DRAMA - PPT
 
What is Model Inheritance in Odoo 17 ERP
What is Model Inheritance in Odoo 17 ERPWhat is Model Inheritance in Odoo 17 ERP
What is Model Inheritance in Odoo 17 ERP
 
Types of Journalistic Writing Grade 8.pptx
Types of Journalistic Writing Grade 8.pptxTypes of Journalistic Writing Grade 8.pptx
Types of Journalistic Writing Grade 8.pptx
 
Raw materials used in Herbal Cosmetics.pptx
Raw materials used in Herbal Cosmetics.pptxRaw materials used in Herbal Cosmetics.pptx
Raw materials used in Herbal Cosmetics.pptx
 
Introduction to AI in Higher Education_draft.pptx
Introduction to AI in Higher Education_draft.pptxIntroduction to AI in Higher Education_draft.pptx
Introduction to AI in Higher Education_draft.pptx
 
Earth Day Presentation wow hello nice great
Earth Day Presentation wow hello nice greatEarth Day Presentation wow hello nice great
Earth Day Presentation wow hello nice great
 
Gas measurement O2,Co2,& ph) 04/2024.pptx
Gas measurement O2,Co2,& ph) 04/2024.pptxGas measurement O2,Co2,& ph) 04/2024.pptx
Gas measurement O2,Co2,& ph) 04/2024.pptx
 
Grade 9 Q4-MELC1-Active and Passive Voice.pptx
Grade 9 Q4-MELC1-Active and Passive Voice.pptxGrade 9 Q4-MELC1-Active and Passive Voice.pptx
Grade 9 Q4-MELC1-Active and Passive Voice.pptx
 
Procuring digital preservation CAN be quick and painless with our new dynamic...
Procuring digital preservation CAN be quick and painless with our new dynamic...Procuring digital preservation CAN be quick and painless with our new dynamic...
Procuring digital preservation CAN be quick and painless with our new dynamic...
 
Judging the Relevance and worth of ideas part 2.pptx
Judging the Relevance  and worth of ideas part 2.pptxJudging the Relevance  and worth of ideas part 2.pptx
Judging the Relevance and worth of ideas part 2.pptx
 
Computed Fields and api Depends in the Odoo 17
Computed Fields and api Depends in the Odoo 17Computed Fields and api Depends in the Odoo 17
Computed Fields and api Depends in the Odoo 17
 
ENGLISH 7_Q4_LESSON 2_ Employing a Variety of Strategies for Effective Interp...
ENGLISH 7_Q4_LESSON 2_ Employing a Variety of Strategies for Effective Interp...ENGLISH 7_Q4_LESSON 2_ Employing a Variety of Strategies for Effective Interp...
ENGLISH 7_Q4_LESSON 2_ Employing a Variety of Strategies for Effective Interp...
 

State Budget Vs Federal Budget

  • 1. 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 ... Get more on HelpWriting.net ...
  • 2. 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 ... Get more on HelpWriting.net ...
  • 3. 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 ... Get more on HelpWriting.net ...
  • 4. 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 ... Get more on HelpWriting.net ...
  • 5. 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 ... Get more on HelpWriting.net ...
  • 6. 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 ... Get more on HelpWriting.net ...
  • 7. 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. The federal 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 ... Get more on HelpWriting.net ...
  • 8. 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; ... Get more on HelpWriting.net ...
  • 9. 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 ... Get more on HelpWriting.net ...
  • 10. 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 ... Get more on HelpWriting.net ...
  • 11. 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 ... Get more on HelpWriting.net ...
  • 12. 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 Helpwriting.net ... 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 ... Get more on HelpWriting.net ...
  • 13. 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 ... Get more on HelpWriting.net ...
  • 14. 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 ... Show more content on Helpwriting.net ... 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 ... Get more on HelpWriting.net ...
  • 15. 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 more content on Helpwriting.net ... 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 ... Get more on HelpWriting.net ...
  • 16. 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 ... Get more on HelpWriting.net ...
  • 17. 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 ... Get more on HelpWriting.net ...
  • 18. 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 ... Get more on HelpWriting.net ...
  • 19. 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 ... Get more on HelpWriting.net ...
  • 20. 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 ... Get more on HelpWriting.net ...
  • 21. 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 ... Get more on HelpWriting.net ...
  • 22. 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 ... Get more on HelpWriting.net ...
  • 23. 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 ... Get more on HelpWriting.net ...
  • 24. 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, ... Get more on HelpWriting.net ...
  • 25. 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 include reconciliation 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 ... Get more on HelpWriting.net ...
  • 26. 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 ... Show more content on Helpwriting.net ... 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 ... Get more on HelpWriting.net ...
  • 27. 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. ... Get more on HelpWriting.net ...
  • 28. 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 ... Get more on HelpWriting.net ...
  • 29. 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 ... Get more on HelpWriting.net ...
  • 30. 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 of economics 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 ... Get more on HelpWriting.net ...
  • 31. 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 ... Get more on HelpWriting.net ...
  • 32. 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 ... Get more on HelpWriting.net ...
  • 33. 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, ... Get more on HelpWriting.net ...
  • 34. 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 ... Show more content on Helpwriting.net ... 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 ... Get more on HelpWriting.net ...
  • 35. 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 Helpwriting.net ... 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 ... Get more on HelpWriting.net ...
  • 36. 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 ... Get more on HelpWriting.net ...
  • 37. 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 ... Get more on HelpWriting.net ...
  • 38. 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 ... Get more on HelpWriting.net ...
  • 39. 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 more content on Helpwriting.net ... 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 ... Get more on HelpWriting.net ...