ChiefsPlanet

ChiefsPlanet (http://www.chiefsplanet.com/BB/index.php)
-   D.C. (http://www.chiefsplanet.com/BB/forumdisplay.php?f=30)
-   -   Economics The Budget (http://www.chiefsplanet.com/BB/showthread.php?t=269712)

FishingRod 02-05-2013 11:53 AM

The Budget
 
The Congressional Budget Act of 1974 requires that the President of the United States submit to Congress, on or before the first Monday in February of each year, a detailed budget request for the coming federal fiscal year, which begins on October 1. Prepared by the president and the president's Office of Management and Budget (OMB), the president's annual budget request performs three key functions in the annual federal budget process:

•The presidential budget request informs Congress of the president's vision of the three basic elements of U.S. fiscal policy: (1) how much money the government should spend on public needs and programs; (2) how much money the government should take in through taxes and other sources of revenue; and (3) how large a deficit or surplus will result -- simply the difference between money spent and money taken in.

•The presidential budget request tells Congress how much money the president believes should be spent on the various Cabinet-level federal functions, like defense, education, health, agriculture, etc. Within each function, the president's budget request must establish requested spending levels for smaller groups of related programs known as "budget accounts." For example, funding levels for federally subsidized student loans would be a budget account under the total proposed spending for the Department of Education.

•The presidential budget request can also be used to inform Congress of any changes in federal spending or tax policy the president intends to recommend.
While it is prepared annually, the president's budget request must anticipate program needs for five years in the future.

Spending the president does not have to request
Typically, about two-thirds of all annual federal spending goes to permanently enacted "entitlement" programs established by Congress, like Social Security and Medicare. The president does not have to request that entitlement programs be funded for the coming year. He or she can, however, use the presidential budget request to recommend new benefits or changes in the level of spending for specific entitlement programs. For example, President George W. Bush used a budget request to begin the establishment of the prescription drug benefit under the Medicare program.

Spending the president does have to request
The other one-third of annual federal spending goes to optional or "discretionary" programs or projects that must have their spending renewed or "reauthorized" by Congress every fiscal year. Just about all spending for defense programs is discretionary, as are programs like Small Business Administration (SBA) loans, space exploration and housing assistance grants. The president's budget request recommends funding levels for each discretionary program.

Congress considers the president's budget request
In the next phase of the annual budget process, the House and Senate Budget Committees will hold hearings on the president's budget request. In the hearings, administration officials -- sometimes even the secretaries of the Cabinet-level agencies -- are called to testify, and justify their specific budget requests. Based on the hearings and the president's budget request, the Budget Committees will prepare a draft of the congressional budget resolution. After being amended by the full House and Senate, the congressional budget resolution will go to a joint House-Senate conference committee, where any differences will be resolved. The conference report on the annual congressional budget resolution will then be debated and passed by both houses of Congress.

http://usgovinfo.about.com/od/federa...budgetprop.htm

Direckshun 02-05-2013 11:54 AM

This is a good thread.

petegz28 02-05-2013 11:54 AM

This Admin and his party avoid budgets like the plague

alpha_omega 02-05-2013 12:27 PM

Budgets?....we don't need to stinkin' budgets.

FishingRod 02-05-2013 01:01 PM

Sorry , got busy. In short it would be nice if we could try doing this.

Direckshun 02-05-2013 01:04 PM

Quote:

Originally Posted by FishingRod (Post 9380052)
Sorry , got busy. In short it would be nice if we could try doing this.

Why?

It's not a bad idea, per se, but Obama's budget is going to be rejected/ignored by the House GOP anyway.

petegz28 02-05-2013 01:13 PM

Quote:

Originally Posted by Direckshun (Post 9380061)
Why?

It's not a bad idea, per se, but Obama's budget is going to be rejected/ignored by the House GOP anyway.

Well considering recent history, it will be rejected by just about every democrat as well

Direckshun 02-05-2013 01:15 PM

Quote:

Originally Posted by petegz28 (Post 9380089)
Well considering recent history, it will be rejected by just about every democrat as well

Perhaps.

FishingRod 02-05-2013 01:37 PM

Why?

It would get the discussion started in view of the public. If memory serves me correctly, (which is getting more iffy every day) prior to Woodrow Wilson the various departments submitted their respective budgets to Congress and each were dealt with separately. They may have been on to something. For what it is worth, if I were POTUS, anything that says “Congressional” and “requires that the President” would probably get me not to do it or at least not to do it when and how they wanted me too. Just because the Congress doesn’t get to “require” me the Executive to do squat.

Direckshun 02-05-2013 01:39 PM

Quote:

Originally Posted by FishingRod (Post 9380167)
Why?

It would get the discussion started in view of the public.

Uh... we're not already having this discussion?

Are

you

sure?

FishingRod 02-05-2013 01:52 PM

Quote:

Originally Posted by Direckshun (Post 9380170)
Uh... we're not already having this discussion?

Are

you

sure?

Just for the sake of brevity due to lack of time today and because my comment seems to have sucked, I will take the time honored Chiefs planet tactic of pointing at an unrelated shiny red object and call you a name.


LOOK IT’S BILL CLINTON’s NOSE which is red just like YOU , you COMMUNIST!

Direckshun 02-05-2013 01:54 PM

Quote:

Originally Posted by FishingRod (Post 9380199)
Just for the sake of brevity due to lack of time today and because my comment seems to have sucked, I will take the time honored Chiefs planet tactic of pointing at an unrelated shiny red object and call you a name.

LOOK IT’S BILL CLINTON’s NOSE which is red just like YOU , you COMMUNIST!

<iframe width="420" height="315" src="http://www.youtube.com/embed/zsTRxXvQY0s" frameborder="0" allowfullscreen></iframe>

mlyonsd 02-05-2013 08:22 PM

Imagine the cool graphs and charts Direckshun could post and point to as proof the Obama way is working if he could actually point to an Obama budget too.

Buehler445 02-06-2013 12:19 AM

Quote:

Originally Posted by Direckshun (Post 9380061)
Why?

It's not a bad idea, per se, but Obama's budget is going to be rejected/ignored by the House GOP anyway.

Jesus ****ing Tits. "They won't pway nice in sandbox so I not play". :deevee:

It's his ****ing responsibility to submit a budget. And it's his ****ing job to work with congress. He's just as obstinate as they are. Just because all involved are asses does not excuse him from his responsibility.

And besides he campaigned (the first time) that they were all going to work together and have beers and reasonable conversation and shit.

BigRedChief 02-09-2013 11:21 AM

The government and CSC wasted a billion $'s. Stupid ass people. Idea started back in the 70's. The military can't run sophisticated networks and complicated software without civilians. They train people and then they leave for civilian jobs. But, they are learning. Sure would like to have that billion $'s back though.

http://video.msnbc.msn.com/nightly-n...9586/#50749586


All times are GMT -6. The time now is 01:22 AM.

Powered by vBulletin® Version 3.8.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.