The Federal Government Budget Process

The Federal Budget is a plan on how the federal government is going to spend its revenues, to meet goals and objectives laid out by policymakers.

• True

• False

Match the following

• Revenue

• Moneys received by government from taxes and non-tax sources.

• Temporary Revenue

• Moneys collected because of temporary laws.

• Discretionary Spending

• Expenditures formally approved by Congress and the President during the appropriations process.

• Mandatory Revenue

• Expenditures which are required by law and have an eligibility requirement.

• Mandatory Spending

• Moneys collected because of existing laws.

The Presidents' Budget request does all of the following, except?

• Recommendations of federal fiscal policy

• Lays out the administrations priorities for federal programs

• Proposals to alter mandatory programs and revenues

• Eliminate the need for the budget to go through the committee process.

A ​ (a)   Resolution is basically a blueprint to guide ​ (b)   action.

Congress holds ​ (c)   hearings, which then draft and pass their ​ (d)   , which are then sent to the floors for amending and then voting.

The Budget Resolution only requires a majority vote and it can not be ​ (e)   .

• budget
• Congressional
• committee
• resolutions
• filibustered

The Budget Legislation is when Congress takes the Budget Resolution, adds appropriations bills, also adds legislation to change mandatory spending, and adds any legislation with taxes and revenue.

• True

• False

If Congress does not complete an Appropriations Bill before the start of the Fiscal Year, it must approve

• Continuing Resolution

• Amendment Exchange

• Cloture

• Budget Petition

The Budget Reconciliation is a special procedure to slow, review and debate the spending and tax legislation.

• True

• False

The debt limit is a fixed dollar amount that the U.S. Treasury is allowed to borrow in order to pay obligations.

• True

• False