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 Budget and Accounting Act of 1921 Panel 1: The History of the 1921 and 1974 Budget Acts The Budget and Accounting Act of 1921 (Pub.L. 67-13, 42 Stat. 20–27) required for the first time that the president submit to Congress each year a … Read more
From the Congressional Glossary – Including Legislative and Budget Terms President of the United States / State of the Union
From the Congressional Glossary – Including Legislative and Budget Terms Executive Branch EXECUTIVE BRANCH – Cram for the Exam The president is the head of the executive branch of the government, which includes many departments and agencies. The power of the Executive Branch is vested in the President of the United States, who … 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 Government Accountability Office / GAO / Comptroller General The U.S. Government Accountability Office (GAO) is an independent, nonpartisan legislative agency that works for Congress. Often called the “congressional watchdog,” GAO investigates how the federal government spends taxpayer dollars. The head of GAO, the Comptroller General … Read more