The Federal Budget Analysis

“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

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 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).

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

The federal budget is an annual plan created by the president of the United States that sets a certain amount of money to fund different federal expenses such as national defense, transportation, and income security, in fact; the federal expenses are divided into two categories, mandatory and discretionary spending. Mandatory spending is any expenditure that is required by legislation in which Medicare and Social Security are the main funded programs. In addition, discretionary spending is spending not mandatory but decided by congress based on appropriations in which it funds education, agriculture,and administration of justice, just to name a few. The federal budget is created using the constitution’s preamble as a guideline in order for

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

The federal budget deficit it is an excess government spending on state revenues. And public debt is an aggregate amount of government debt, which is composed of outstanding loans and unpaid interest thereon. U.S. federal expenditures is approximately around 3.5-4 trillion dollars, which includes: defense – $700b, social security – $700b, Medicare and Medicaid – $450b, Interest – $200b, other assistance such as food stamps, unemployment, housing, EITC - $180b, and other non-defense - $600b.

assisting the president with production of budget. The OMB is responsible for making sure agencies, policies, and procedures are in compliance with the president’s policies. It is the largest office within the Executive Office of the President of the United States.

In this budget activity I was given several areas to look over and make adjustments to help cut the debt that has been created. However, under only for of these categories, I made several changes in the area of defense, domestic, social security, and health care. I selected these changes solely on the fact that there are current changes in these areas and the revenue that these changes could benefit the budget. Nevertheless, help American regain some stability with its spending. Moreover, most of the changes have already been mention in the budget repair.

Federal Government Budget Exercise: H.R. 4755, Inspiring the Next Space Pioneers, Innovators, Researchers, and Explorers (INSPIRE) Women Act

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

For as long as Americans can remember there has always been a federal deficit. In fact, the only time in American history when there was no federal debt was under president Andrew Jackson, and it only lasted a single year(Wall Street Journal). The federal government never managed to pay off the debt again, although some administrations, like Coolidge’s and Clinton’s, have managed to run brief surpluses(Wall Street Journal). Yet today there seems to be no limit on the debt and deficit spending, and a key question has been pressed into the forefront of politics and fiscal policy, “is

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.

A country's yearly spending plan deficiency is the contrast between what the administration takes in from expenses and different sources and what it spend every year. To make the qualification, the national obligation varies from a financial plan deficiency in that it is the aggregate sum that the government owes in view of cash it has acquired by offering bonds or different securities, consistently. It is the aggregate of all cash owed to people, partnerships, state or nearby governments, remote governments, and different substances outside of the United States Government.

Organization and Design of an Effective Budget Function is a guide to examining the duties and designs of a budget at a state and local level. This guide is organized in various sections which include a foreword, five chapters, appendices, and exhibits. The foreword is written by Jeffrey L. Esser Executive Director of the GFOA and provides readers with a quick snapshot of the purpose of this guide, as well as, acknowledging those who have contributed to this series. The breakdown of the chapters are as follows: chapter one is an introduction and gives an overview of the budgeting process, chapter two is on the functions of the budget office, chapter three is on the organizational structure in the budget office, chapter