Balancing The Federal Budget Process - 2282 Words

Group Project Joint Paper: Balancing the Federal Budget Luis A. Santiago-Gaetan, Abby Baumann, and Erin Kirchner University of Massachusetts-Amherst Introduction This is Red Team’s joint paper on balancing the budget of the government of the United States of America. Red Team’s (from here on we/our) position regarding balancing the budget and reducing the federal deficit varies slightly. In many ways some team members believe that the federal budget is much like any other budget, with a set amount of money coming in, a set of expenditures that are â€Å"mandatory†, and the choice to save any money left over for emergencies, or spend it on those things that aren’t mandatory. Some team members also believe that increasing taxes or cutting spending alone will not effectively reduce the deficit and balance the federal budget. However, the federal budget process is a complex one. How, where and when does the federal budget process originate? The first step in the Federal budget process as required by law is the President’s Budget Request, initiated every February. The purpose of this budget request is to allow the President to make recommendations pertaining to how much money the federal government needs to operate successfully, how much money the government needs to collect, in the form of tax revenue, and how much of a budget surplus or deficit the budget will have for the following fiscal year. The second step in the budget process is the Congressional Budget Resolution, whichShow MoreRelatedBalancing The Federal Budget Process2278 Words   |  10 PagesBalancing the Federal Budget Luis A. Santiago-Gaetan, Abby Baumann, and Erin Kirchner University of Massachusetts-Amherst Introduction This is Red Team’s joint paper on balancing the budget of the government of the United States of America. Red Team’s (from here on we/our) position regarding balancing the budget and reducing the federal deficit varies slightly. In many ways some team members believe that the federal budget is much like any other budget, with a set amount of money coming in, a setRead MoreThe Role of Federal Agencies in Fighting Digital Crime Essay827 Words   |  4 PagesExplain the existing challenges that result from the independent nature of these agencies, as well as the other factors that are common to each of them. In the United States, local, state, and federal law enforcement agencies, including FBI, Department of Homeland Security, among others, have taken on roles to fight computer crimes and terrorism. The roles and responses of these law enforcement agencies concerning digital crime have created challenges that limit enforcement efforts against digitalRead MorePros And Cons Of A Balanced Budget1397 Words   |  6 PagesAndrew Jalil Economics 351: History of Macroeconomic Policy 4/21/17 Pros and Cons of a Balanced Budget In 1995, US Congressional lawmakers introduced an amendment to the United States Constitution that would restrict federal spending to the sum of its collected revenues in any given fiscal year. The â€Å"Balanced Budget Amendment† would’ve taken full effect in 2002, guaranteeing a balanced federal budget unless a budgetary deficit was approved by two thirds of the Senate . The proposed amendment passedRead MorePublic Finance1387 Words   |  6 PagesKnuston of Minnesota proposed what would be the first constitutional amendment to balance the federal budget. The Knutson resolution would have established a per capita limit on all federal debt. The proposal stalled and was quashed by the Judiciary Committee. During the decades that have followed, legislators and economists have been irresistibly drawn to the lure of a Federal Balanced Budget Amendment (BBA) to the U.S.Constitution. In September 1995, two economists, (Charles SchultzeRead MorePatient Advocate At A Federally Qualified Health Center ( Fqhc )1252 Words   |  6 Pagesto intervene, assist, manage and fight for my clients. I also provide assistance in interpreting and clarifying healthcare coverage. Lastly, I encourage my patients to engage in frenetic participation in the overall health insurance enrollment process. In so doing, I am ensuring that the health care needs of the public are met. Aging is a fact of life. As I grow older, I become more and more concerned about the fate of the Medicare program and about health coverage programs in general. MyRead MoreEssay on District Budget Design1631 Words   |  7 PagesIn a time of financial hard ships, balancing a districts budget has become increasingly difficult. As a school board member for the Peoria School district it is important and crucial to effective budget decision making to be educated on the school districts budget design and delegated responsibilities within the system. These decisions need to be made based on the protection of public funds and property. â€Å"The legal responsibility for such protection rests solely with the board of education in eachRead MoreThe Transformation Of The Gas Engines987 Words   |  4 Pagesengineering improvements have made the engine more efficient. This efficiency is measured as improvements in miles traveled per gallon of gas consumed. The transformation of the gas e ngine is an example of how quality performance and the budgeting process intersect to create greater consumer value. In the business of healthcare, the engine example is analogous to operating a business. The elements of creating a plan in support of allocating resources to improve patient outcomes while maximizing outputRead MoreHistory 175 Quiz 41448 Words   |  6 Pagesthe solid South. |    | African Americans in the South would be voting in growing numbers. |    | Republicans were going to have a difficult time winning elections in the South. |    | Democratic politicians in the South were solidly behind federal civil rights legislation. | 2.   One surprising development in the 1972 presidential election was    | strong conservative support for Richard Nixon. |    | Richard Nixons strength among southern, Catholic, urban, and blue-collar voters. | Read MoreThe Impeachment of President Clinton Essay698 Words   |  3 Pagesbalances would separate the powers of the government branches and counter a â€Å"tyranny of the majority†. He carefully sought to distribute powers in a way that prevents any one faction from dominating. Under this system, the President can appoint federal judges, grant pardons, veto bills, propose laws, reject part of bills, etc. Equally, the Congress can override presidential veto, impeach the President, ratify treaties, etc., and the Courts can declare laws and executive orders unconstitutional.Read MoreCost Budgets And Preserving Departmental Performance1293 Words   |  6 Pagesdecreased government spending and â€Å"skinny budgets† have inundated the news as of late. The Trump administration seems intent on slashing government spending across the board. With the introduction of the Presidentâ₠¬â„¢s proposed budget, it is evident that dramatic cuts are looming—ushering in a new approach to shrinking the size of the federal government. With all the buzz, government agencies will need to find new ways to slim down their departments while also balancing their objectives and fulfilling their