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310Lspring2009FederalBudgetPPoutline

310Lspring2009FederalBudgetPPoutline - The Politics of the...

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Click to edit Master subtitle style The Politics of the Federal Budget
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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
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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
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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
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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
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Stages between branches President signs or vetoes each If no agreement by October 1, continuing resolution(s) Then eventual Omnibus Budget Act
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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
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Why are they called “uncontrollable”?
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