Items tagged with federal budget:
News & Updates:
Present Trump threatens military action against Mexico over immigration disputes; Trump issues 5% budget cuts from cabinet members; After Hurricane spike, jobless claims decrease again; Leading indicators suggest a robust US economy.
Michelle Obama has called education the “single-most important civil rights issue” of today. President George Bush has referred to education as “the great civil rights issue of our time.” Similarly, President Trump has vocalized support for education spending, despite his administration’s efforts to pass major budget cuts for existing programs and funnel more public funds into controversial school choice programs. Regardless, all of these statements point to a recognition that education is the proverbial ladder to a better life—to the procurement of the American Dream. In an age in which many are questioning what it means to be an American and to pursue the Dream, economic mobility remains central to this famed ideal. But what is a better life? And, who can realistically dream of attaining it?
China announces tariffs on $60 billion worth of US goods in response to American action; Senate pass a short term spending bill designed to last until November; Minority voice in SEC urges for more oversight; US Housing Starts increase marginally.
Trump administration offers to resume trade negotiations with China; The newest development in Trump’s immigration policy includes paying Mexico for deportation services; Senate passes new budget plan; US jobless claims continue to drop indicating a robust US economy; Consumer Price Index indicates a rise; Economists ponder why despite income increases, wages have remained stagnant.
The Environmental Protection Agency is planning to present a proposal to weaken Obama-era regulations on Methane; Congress reveals a three-part $147 billion dollar spending bill titled, “Minibus” that they hope to send to President Trump by the end of the week; GOP announces new plan for tax cuts; The Small Business Optimism Index rises.
Congressional Budget Office
Since its founding in 1974, the Congressional Budget Office (CBO) has produced independent analyses of budgetary and economic issues to support the Congressional budget process.
The agency is strictly nonpartisan and conducts objective, impartial analysis, which is evident in each of the dozens of reports and hundreds of cost estimates that its economists and policy analysts produce each year. CBO does not make policy recommendations, and each report and cost estimate discloses the agency’s assumptions and methodologies. CBO provides budgetary and economic information in a variety of ways and at various points in the legislative process. Products include baseline budget projections and economic forecasts, analysis of the President’s budget, cost estimates, analysis of federal mandates, working papers, and more.
Quick link to Products page: http://www.cbo.gov/about/our-products
Quick link to Topics: http://www.cbo.gov/topics
Office of Management and Budget
As the implementation and enforcement arm of Presidential policy government-wide, OMB carries out its mission through five critical processes that are essential to the President’s ability to plan and implement his priorities across the Executive Branch:
- Budget development and execution, a significant government-wide process managed from the Executive Office of the President and a mechanism by which a President implements decisions, policies, priorities, and actions in all areas (from economic recovery to health care to energy policy to national security);
- Management — oversight of agency performance, Federal procurement, financial management, and information/IT (including paperwork reduction, privacy, and security);
- Coordination and review of all significant Federal regulations by executive agencies, to reflect Presidential priorities and to ensure that economic and other impacts are assessed as part of regulatory decision-making, along with review and assessment of information collection requests;
- Legislative clearance and coordination (review and clearance of all agency communications with Congress, including testimony and draft bills) to ensure consistency of agency legislative views and proposals with Presidential policy; and
- Executive Orders and Presidential Memoranda to agency heads and officials, the mechanisms by which the President directs specific government-wide actions by Executive Branch officials.
- Quick link to current budget: http://www.whitehouse.gov/omb/budget/Overview
- Quick link to historical budgets: http://www.gpo.gov/fdsys/browse/collectionGPO.action?collectionCode=BUDGET
- Quick link to “About OMB”: http://www.whitehouse.gov/omb/organization_mission/