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The Resource BUDGET PROCESS: Evolution and Challenges

BUDGET PROCESS: Evolution and Challenges

Contributor
Summary
To understand where we are it helps to know where we ve been. The budget process of today was not created in a single step. Rather, it was created in stages-and for the most part new pieces did not replace but were added to existing processes. Looking back at the objectives and structure of the 1974 Congressional Budget and Impoundment Control Act is very useful. The Constitution gives the Congress the power of the purse. The 1921 Budget and Accounting Act centralized power over executive agency budget requests under the President and-to balance this grant of power-moved control of the audit of spending from the Treasury to a new legislative branch entity, the GAO. The Congress also centralized its own spending decisions in the House and Senate Appropriations Committees. A budget process should * provide information about the long-term impact of decisions while recognizing the differences between short-term forecasts, medium-term projections, and a long-term perspective; * provide information and be structured to focus on the important macro trade-offs, e.g., between consumption and investment; * provide information necessary to make informed trade-offs on a variety of levels, e.g., between mission areas and between different tools; and be enforceable, provide for control and accountability, and be transparent
Language
eng
Work
Publication
Extent
24 pages
Note
Testimony before the Committee on the Budget, U.S. House of Representatives
Instance
Label
BUDGET PROCESS: Evolution and Challenges
Title
BUDGET PROCESS: Evolution and Challenges
Contributor
Subject
Language
eng
Summary
To understand where we are it helps to know where we ve been. The budget process of today was not created in a single step. Rather, it was created in stages-and for the most part new pieces did not replace but were added to existing processes. Looking back at the objectives and structure of the 1974 Congressional Budget and Impoundment Control Act is very useful. The Constitution gives the Congress the power of the purse. The 1921 Budget and Accounting Act centralized power over executive agency budget requests under the President and-to balance this grant of power-moved control of the audit of spending from the Treasury to a new legislative branch entity, the GAO. The Congress also centralized its own spending decisions in the House and Senate Appropriations Committees. A budget process should * provide information about the long-term impact of decisions while recognizing the differences between short-term forecasts, medium-term projections, and a long-term perspective; * provide information and be structured to focus on the important macro trade-offs, e.g., between consumption and investment; * provide information necessary to make informed trade-offs on a variety of levels, e.g., between mission areas and between different tools; and be enforceable, provide for control and accountability, and be transparent
Cataloging source
DTICE
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
  • Irving, S. J
  • GENERAL ACCOUNTING OFFICE WASHINGTON DC ACCOUNTING AND INFORMATION MANAGEMENT DIV
http://library.link/vocab/subjectName
  • Decision making
  • Planning programming budgeting
  • Federal budgets
  • Congress
  • Forecasting
  • Long range(time)
  • Short range(time)
  • Missions
  • Evolution(general)
  • Federal law
  • Accountability
  • Administration and Management
  • Economics and Cost Analysis
Label
BUDGET PROCESS: Evolution and Challenges
Instantiates
Publication
Note
Testimony before the Committee on the Budget, U.S. House of Representatives
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
24 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227871667
  • (OCoLC)ocn227871667
Label
BUDGET PROCESS: Evolution and Challenges
Publication
Note
Testimony before the Committee on the Budget, U.S. House of Representatives
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
24 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227871667
  • (OCoLC)ocn227871667

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