Economics The Budget

FishingRod · 02-05-2013, 10:53 AM

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, 10:54 AM

This is a good thread.

**petegz28** · 02-05-2013, 10:54 AM

This Admin and his party avoid budgets like the plague

alpha_omega · 02-05-2013, 11:27 AM

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

FishingRod · 02-05-2013, 12:01 PM

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

Direckshun · 02-05-2013, 12:04 PM

Quote:

Originally Posted by FishingRod

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, 12:13 PM

Quote:

Originally Posted by Direckshun

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, 12:15 PM

Quote:

Originally Posted by petegz28

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

Perhaps.

FishingRod · 02-05-2013, 12:37 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, 12:39 PM

Quote:

Originally Posted by FishingRod

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, 12:52 PM

Quote:

Originally Posted by Direckshun

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, 12:54 PM

Quote:

Originally Posted by FishingRod

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!

**mlyonsd** · 02-05-2013, 07:22 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** · 02-05-2013, 11:19 PM

Quote:

Originally Posted by Direckshun

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".

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, 10:21 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

02-05-2013, 10:53 AM
FishingRod Veteran Join Date: Mar 2006 Casino cash: $47548	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
Posts: 3,150

02-05-2013, 10:54 AM	#2
Direckshun Black for Palestine Join Date: Oct 2006 Location: Springpatch Casino cash: $1209023	This is a good thread. __________________
Posts: 43,706

02-05-2013, 10:54 AM	#3
petegz28 Supporter Join Date: Feb 2005 Location: Olathe, Ks Casino cash: $260887	This Admin and his party avoid budgets like the plague __________________ "Finally, anyone who uses the terms, irregardless, a whole nother, or all of a sudden shall be sentenced to a work camp." Stewie Griffin
Posts: 64,839

02-05-2013, 11:27 AM	#4
alpha_omega MVP Join Date: Jan 2004 Location: Liberty Casino cash: $156930	Budgets?....we don't need to stinkin' budgets.
Posts: 6,526

02-05-2013, 12:37 PM	#9
FishingRod Veteran Join Date: Mar 2006 Casino cash: $47548	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.
Posts: 3,150

02-05-2013, 12:01 PM	#5
FishingRod Veteran Join Date: Mar 2006 Casino cash: $47548	Sorry , got busy. In short it would be nice if we could try doing this.
Posts: 3,150

02-05-2013, 07:22 PM	#13
mlyonsd Supporter Join Date: Aug 2000 Location: Spink, SD Casino cash: $54124	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.
Posts: 24,885

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode