The Federal Budget
The federal budget is known as the infamous monetary tank from which money is distributed to various programs. Why does the federal budget plan cause such uproar of approval or disapproval when it is proposed by the President every February? The money utilized every fiscal year, which runs from October 1st of each year until the end of September of the following year, belongs to the people. The money is raised through income taxes, excise taxes (taxes on goods) and social insurance payroll taxes.
Throughout history there has been much concern over issues regarding the national debt and
government spending. The United States has had its ups and downs with the national debt and the
balancing of the budget. As a multitude of changes have been made to improve the budget system many
believe that too much control over the budget is vested with the president and the executive branch. While
the Congressional Budget and Reform Act of 1974 awarded Congress added power and influence in
response to this concern over the budget process, the president still has an advantage in the budgetary
process.
From the penny to the 100 dollar bill, every cent of money counts in our government. Keeping track of it and knowing how much we are spending compared to how much we are making is on of the harder tasks to handle for our three branches of government. Currently, the economic situation is less than ideal. No matter what side of the political spectrum one falls, it’s evident that there are issues with economy. The executive, legislative, and judicial branches all play an important part in the budget and economic system.
The country needs to start monitoring how the government is spending the federal budget and they need to start splitting it fairly to benefit our country. 83% of the federal budget is spent on the Big Five which are the main expenses in the budget. We have to stop spending it all on the Big Five. Our government should really pay attention to what we need most of in this country and focus on the needs. The government needs to take away 20% of the Big Five and split it to categories that need it.
Our founders’ vision of democracy was designed to reflect the value of the majority of the people. The president is supposed to draft a balanced budget annually by September 30th, and present the budget to Congress (Segal, 2010). Funding, according to Segal (2010), is appropriated to mandatory portions of the budget such as, Social Security, Medicare, and interest on the national debt (Segal, 2010). The next step is for Congress to vote on funding for discretionary programs (Segal, 2010).
There are several powers expressly given to Congress in Article 1 of the constitution. These expressed powers are basically a laundry list of Congressional duties. These include, but are not limited to, the power to lay and collect taxes, the power to borrow money on behalf of the United States credit, the power to coin money and regulate it's value, the power to declare war, the power to raise and support armies, the power to establish post offices and postal roads and the power to regulate commerce between the states, as well as with the Indian tribes and with foreign nations. These powers were given at this level of government by our forefather because they are important items that must be regulated at the national level. Imagine the chaos that would ensue if each state was able to coin it's own money and set the value themselves. While Congress may be responsible for things of great importance to our security and national economy “no one of the powers transferred to the federal government is unnecessary or improper”(Federalist No.45) and“The powers delegated by the proposed Constitution to the federal government are few and defined.” (Federalist No.45). This helps to ensure that Congress' power is k...
The federal budget is known as the notorious economic tank from which money is distributed to various programs. The money used every fiscal year, which begins October 1st and ends September 30th the next year, belongs to the people. The government raises this money through taxes and they spend it on national defense, Medicare, and social security. The federal budget is an exercise in making choices, and those options will certainly affect individuals living in the U.S. These choices cause debt to pile up on the government, who is struggling to make it disappear. The deficit and debt of a government gauges how well it is being run and how well it has been run in the past. According to The Economist the national debt is the total outstanding borrowing of a country’s government; it is an accumulation of deficits that has yet to be paid off (Economist, A-Z). The current U.S. federal deficit, as of the 2013 fiscal year, is a monumental $680 billion dollars, adding to an even higher debt. Any attempt to diminish this debt has the consumer footing the bill, but there has to be a different way. There have been requests to increase taxes, to raise revenues for transportation infrastructure, to restrategize the military force or to make defense more affordable (“15 Ways to Rethink the Federal Budget”, Brookings).
The power to appropriate funds is crucial to the U.S. government because it enables the flow of funding for the government to function. Congress’ ability to fund government functions provides for everything from entitlements such as: Social Security, Medicaid, to running the nation’s national parks, the postal services, and the work of all federal agencies and the military. Without the legislative branches’ ability to raise revenues and appropriate funds, nothing would function. The Constitutional authority for Congress to fund government also gives Congress a weapon that the Executive and Judicial branches both lack. For example, the President may wish to regulate a certain area such as offshore oil drilling. After the B.P. disaster in the Gulf, the President could have established very onerous regulations o...
Prior to 1970 the process of how bills became laws in the United States Congress almost always followed one specific textbook path. This path was set up by the Constitution of the United States and the United States Congress continuously followed this process set by our founding fathers from the founding of the United States in 1776 until the start of 1970’s. In the 1970’s due to several different factors Congress began to stray from this textbook processes of creating laws and members of congress began to use several different techniques to block bills they saw as undesirable and to also push bills through that they supported. We can see several of these different relatively new congressional legislative techniques when analyzing the process of Bill S.365: Budget Control Act of 2011 and the the Health Care and Education Reconciliation of 2010.
The national budget is the main instrument through which governments collect resources from the economy, in a sufficient and appropriate manner; and allocate and use those resources responsively, efficiently and effectively (Todorovic & Djordjevic, 2009). The work of public budget has increased extremely more complicated, abstruse and worrying (Hou, 2006, p.730).