310Lspring2009FederalBudgetPPoutline

310Lspring2009FederalBudgetPPoutline - Click to edit Master...

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Unformatted text preview: Click to edit Master subtitle style The Politics of the Federal Budget What the budget is • A financial plan detailing how the nation’s government’s income (plus borrowing) will be spent in a given fiscal year October 1- Sept 30 What the budget does • Proposes how money to be spent • Indicates where money is expected to come from • Translates financial resources into human purposes • Allocates money with instructions for government action Stages of the budgetary process • In the Executive Branch/administration – President’s priorities from OMB to agencies in March – Agency proposals to OMB – OMB budget to Congress in February Stages In Congress • Budget committees in both houses prepare resolution • Authorization committees make proposals • Appropriations committees develop 13 budget bills • Each house passes budget • Conference committees produce compromise • Both houses pass and send to President Stages between branches • President signs or vetoes each • If no agreement by October 1, continuing resolution(s) • Then eventual Omnibus Budget Act Continuing politics of the budget • “Nonpolitical” budgeting— • the “uncontrollables” – What are they? • “Entitlements” • Interest on the national debt • Loans government makes or guarantees (e.g., to veterans, students, home mortgages) • Items dependent on external developments – Unemployment benefits – Welfare and food stamps – Farm subsidies – Why are they called “uncontrollable”? “Antipolitical” budgeting...
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This note was uploaded on 02/19/2010 for the course GOV 310L taught by Professor Kieth during the Spring '07 term at University of Texas at Austin.

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310Lspring2009FederalBudgetPPoutline - Click to edit Master...

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