United States Budget Process
In the United States, the budget process is the process within the federal government of creating the budget. The framework used by Congress to formulate the budget was established by the Budget and Accounting Act of 1921, the Congressional Budget and Impoundment Control Act of 1974, and by other budget legislation.
Prior to 1974, Congress had no formal process for establishing a coherent budget. When newly-elected President Richard Nixon began to refuse to spend funds that the Congress had allocated, Congress needed a more formal means by which to challenge him. The Congressional Budget Act of 1974 created the Congressional Budget Office and directed more control of the budget to CBO and away from the President's Office of Management and the Budget. The Act passed easily as the administration was embroiled in the Watergate scandal and unwilling to provoke Congress.
Read more about United States Budget Process: Overview, Discretionary and Mandatory Spending
Famous quotes containing the words united states, united, states, budget and/or process:
“Falling in love with a United States Senator is a splendid ordeal. One is nestled snugly into the bosom of power but also placed squarely in the hazardous path of exposure.”
—Barbara Howar (b. 1934)
“Printer, philosopher, scientist, author and patriot, impeccable husband and citizen, why isn’t he an archetype? Pioneers, Oh Pioneers! Benjamin was one of the greatest pioneers of the United States. Yet we just can’t do with him. What’s wrong with him then? Or what’s wrong with us?”
—D.H. (David Herbert)
“The admission of the States of Wyoming and Idaho to the Union are events full of interest and congratulation, not only to the people of those States now happily endowed with a full participation in our privileges and responsibilities, but to all our people. Another belt of States stretches from the Atlantic to the Pacific.”
—Benjamin Harrison (1833–1901)
“We might come closer to balancing the Budget if all of us lived closer to the Commandments and the Golden Rule.”
—Ronald Reagan (b. 1911)
“[Wellesley College] is about as meaningful to the educational process in America as a perfume factory is to the national economy.”
—Nora Ephron (b. 1941)