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The Budget As An Expression of Public Policy

The Budget As An Expression of Public Policy. Sean O’Keefe September 25, 2000. What is the Budget Process?. A framework for raising revenue A means to allocate resources Federal process easiest to describe State & local methods incorporate similar methods with one key distinction:

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The Budget As An Expression of Public Policy

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  1. The Budget As An Expression of Public Policy Sean O’Keefe September 25, 2000

  2. What is the Budget Process? • A framework for raising revenue • A means to allocate resources • Federal process easiest to describe • State & local methods incorporate similar • methods with one key distinction: • federal is a “unified budget” process • state & local incorporate several approaches

  3. Genesis • Budget and Accounting Act of 1921 • established “President’s Budget” submission • established Bureau of the Budget • created the General Accounting Office • R.S. 3678 and 3679

  4. Genesis II • Congressional Budget and Impoundment Control Act of 1974 • a mechanism to coordinate Congressional action • created Budget Committees and budget resolution • established the Congressional Budget Office • established “impoundment” procedures

  5. Genesis III • Balanced Budget and Emergency Deficit Control Act of 1985 • (aka Gramm-Rudman-Hollings) • designed to eliminate deficit by 1991: • it didn’t • amended in 1987 -- changed target to 1993: • still didn’t make it

  6. Genesis IV • 1990’s budget resolutions: • Omnibus Budget Reconciliation Act of 1990 • Budget Enforcement Act of 1990 • Discretionary caps and entitlement targets • Pay-As-You-Go (PAYGO) provisions introduced • Balanced Budget Act of 1997

  7. Budget Process Today • Budget Preparation/Development • Internal agency process • OMB interaction with agencies & departments • President’s Budget submission

  8. Budget Process Today • Congressional Consideration • budget resolution • reconciliation process • authorization • appropriations • Budget Execution & Audit/Evaluation

  9. Policy Conflicts as expressed in the Budget Process • Revenue sensitive to economic performance • Focus on discretionary spending • Federal shutdowns • Debt Ceiling Debate • Line Item Veto • Process, not policy, usually dictates timing • Scorekeeping rules drives choices

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