From the Congressional Glossary – Including Legislative and Budget Terms Baseline / Baseline Budgeting / Scorekeeping Dan Mitchell Discussing Dishonest Budget Numbers with John Stossel Baseline: Projection of future revenues, budget authority, outlays, and other budget amounts under assumed economic conditions and participation rates without a change in current policy. The Congressional Budget … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Office of Management and Budget / OMB The core mission of OMB is to serve the president of the United States in implementing his vision across the executive branch. OMB is the largest component of the Executive Office of the President. It reports directly to … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Congressional Budget Office / CBO Introduction to the Congressional Budget Office The Congressional Budget Office (CBO) and Government Accountability Office (GAO) principally serve congressional committees with a variety of reports. The Congressional Budget Office assists Congress in understanding the economic and fiscal environment … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Balanced Budget and Emergency Deficit Control Act of 1985, aka Gramm-Rudman-Hollings (GRH) President Reagan’s Remarks to Congressional Supporters for a Balanced Budget on December 18, 1985 Also known as the Deficit Control Act, originally known as Gramm-Rudman-Hollings. Among other changes to the budget … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Committee Allocation photo credit: Tetra Pak The distribution of total proposed new budget authority and outlays, as set forth in the concurrent resolution on the budget, among the congressional committees according to their jurisdictions. The allocations are set forth in the joint explanatory statement of … Read more