From the Congressional Glossary – Including Legislative and Budget Terms Budget Authority photo credit: Carly & Art The key terms of federal spending are budget authority, obligations, outlays, and spendout rate. Congress and the president enact budget authority in law. Budget authority allows federal agencies to incur obligations, such as entering into contracts, employing personnel, … Read more
From the Congressional Glossary – Including Legislative and Budget Terms “Emergency” Spending / Emergency photo credit: vonderauvisuals Spending with the “emergency” designation does not count against budget caps. While often used for one-time, unforeseen events, this designation has also been used to circumvent budget limits. For example, spending for the census has been designated as … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Concurrent Resolution on the Budget photo credit: JPC24 The Concurrent Resolution on the Budget is often referred to as the Congressional Budget. A concurrent resolution adopted by both chambers of Congress as part of the annual budget and appropriations process, setting forth an overall budget … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Budget Act photo credit: phauly The common name for the Congressional Budget and Impoundment Act of 1974, which established the current budget process and created the Congressional Budget Office. The act also put limits on presidential authority to refuse to spend appropriated money. Titles I-IX … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Public Debt / Debt Ceiling / Debt Limit Debt Limit – A Guide to American Federal Debt Made Easy Public Debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The … Read more
The federal budget process typically involves a rather complex series of legislative and executive procedures and various financial transactions. photo credit: Evelyn Proimos The term Revenue refers to income that is received by the federal government. (The executive branch also uses receipts as a term for revenue.) Revenue may be raised from a variety of … Read more
The Constitution of the United States: Amendment 27 (Twenty-Seventh Amendment) Amendment XXVII. (Limiting Congressional Pay Increases) Originally proposed Sept. 25, 1789. Ratified May 7, 1992. No law, varying the compensation for the services of the Senators and Representatives, shall take effect, until an election of representatives shall have intervened. The 27th Amendment Explained: The … Read more
What’s wrong with this picture? Caution: this is a professional actor. Do NOT attempt this at a business meal! There are at least eight things in this picture that demonstrate bad business etiquette. Scroll down for the answers. Dining Etiquette – European vs. American Dining Style, with Kimberly Law … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Omnibus Bill: A measure that combines the provisions related to several disparate subjects into a single measure. Examples include continuing appropriations resolutions that might contain two or more of the twelve annual appropriations bills. See the 12 Subcommittees of the House Committee on Appropriations. The … Read more