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<blockquote data-quote="Babagounj" data-source="post: 1196293" data-attributes="member: 12952"><p>The <a href="http://useconomy.about.com/od/fiscalpolicy/tp/US_Federal_Budget.htm" target="_blank">Federal budget</a> process starts with the Executive Office of Management and Budget (<a href="http://useconomy.about.com/od/governmentagencies/p/OMB.htm" target="_blank">OMB</a>), who must prepare the budget for the President before he submits it to Congress. The OMB manages the budget throughout the year.</p><p>In the early fall, all Federal agencies submit their budget requests to OMB for the following <a href="http://useconomy.about.com/od/fiscalpolicydefinitions/g/Fiscal_Year.htm" target="_blank">fiscal year</a>, which runs from October 1-September 30. In other words, the budget planning process starts a year in advance.</p><p>In <strong>November</strong>, OMB sends its budget review comments back to the agencies. They submit their final budget requests in December. OMB then assembles the final budget for the following fiscal year, and sends it to the President.</p><p>The President submits his proposed budget to Congress by the <strong>first Monday in February</strong> each year. He uses the budget to set the strategy and policies. He has already given an outline of the budget priorities in the annual State of the Union Address.He is assisted by the <a href="http://useconomy.about.com/od/governmentagencies/p/CEA.htm" target="_blank">Council of Economic Advisors</a>, who also submit the "<a href="http://useconomy.about.com/od/fy2008budget/p/Econ_Report.htm" target="_blank">Economic Report of the President</a>." This report gives the Council's analysis of the upcoming economic trends.</p><p>The Congressional Budget Office (<a href="http://useconomy.about.com/od/governmentagencies/p/CBO.htm" target="_blank">CBO</a>) provides information to Congress to facilitate its review of the budget. This includes a detailed review of the President's budget for each fiscal year.</p><p>Using the President's budget as a base, each house of <a href="http://useconomy.about.com/od/governmentagencies/p/Congress.htm" target="_blank">Congress</a> develops their own budget proposals separately. They base this on hearings held with agency officials, who explain why they need the funds requested. They then meet in a Conference Committee to agree on a budget by <strong>April 15th</strong>.</p><p>Congress then develops spending appropriation bills that they should deliver to the President by <strong>June 30th</strong>. However, He usually doesn't get them until <strong>September</strong>.</p><p>The President must either approve these bills, disapprove them or allow them to go forward without his approval within the next <strong>10 days</strong>. </p><p>In addition, the President usually submits a Mid-Session Review of the budget to Congress by <strong>July 15</strong>.</p><p>By <strong>October 1st</strong>, the beginning of the new fiscal year, the budget must be worked out between the President and the Congress so that government agencies can continue to spend and function.</p><p>The <a href="http://useconomy.about.com/od/governmentagencies/p/Treasury.htm" target="_blank">Treasury</a> Department's Financial Management Services executes the budget. This is the agency that makes payments, collects revenues and delinquent debt and issues reports including the Treasury statements.</p><p></p><p></p><p><span style="color: #ff0000">Seeing how bhos' budgets keeps getting ZERO votes in the senate</span> <span style="color: #ff0000">, no wonder nothing gets done .</span></p><p><span style="color: #ff0000"></span></p><p><span style="color: #ff0000">My personal budget is based on how much money I get weekly minus expenses and beer money .</span></p><p><span style="color: #ff0000"></span></p></blockquote><p></p>
[QUOTE="Babagounj, post: 1196293, member: 12952"] The [URL="http://useconomy.about.com/od/fiscalpolicy/tp/US_Federal_Budget.htm"]Federal budget[/URL] process starts with the Executive Office of Management and Budget ([URL="http://useconomy.about.com/od/governmentagencies/p/OMB.htm"]OMB[/URL]), who must prepare the budget for the President before he submits it to Congress. The OMB manages the budget throughout the year. In the early fall, all Federal agencies submit their budget requests to OMB for the following [URL="http://useconomy.about.com/od/fiscalpolicydefinitions/g/Fiscal_Year.htm"]fiscal year[/URL], which runs from October 1-September 30. In other words, the budget planning process starts a year in advance. In [B]November[/B], OMB sends its budget review comments back to the agencies. They submit their final budget requests in December. OMB then assembles the final budget for the following fiscal year, and sends it to the President. The President submits his proposed budget to Congress by the [B]first Monday in February[/B] each year. He uses the budget to set the strategy and policies. He has already given an outline of the budget priorities in the annual State of the Union Address.He is assisted by the [URL="http://useconomy.about.com/od/governmentagencies/p/CEA.htm"]Council of Economic Advisors[/URL], who also submit the "[URL="http://useconomy.about.com/od/fy2008budget/p/Econ_Report.htm"]Economic Report of the President[/URL]." This report gives the Council's analysis of the upcoming economic trends. The Congressional Budget Office ([URL="http://useconomy.about.com/od/governmentagencies/p/CBO.htm"]CBO[/URL]) provides information to Congress to facilitate its review of the budget. This includes a detailed review of the President's budget for each fiscal year. Using the President's budget as a base, each house of [URL="http://useconomy.about.com/od/governmentagencies/p/Congress.htm"]Congress[/URL] develops their own budget proposals separately. They base this on hearings held with agency officials, who explain why they need the funds requested. They then meet in a Conference Committee to agree on a budget by [B]April 15th[/B]. Congress then develops spending appropriation bills that they should deliver to the President by [B]June 30th[/B]. However, He usually doesn't get them until [B]September[/B]. The President must either approve these bills, disapprove them or allow them to go forward without his approval within the next [B]10 days[/B]. In addition, the President usually submits a Mid-Session Review of the budget to Congress by [B]July 15[/B]. By [B]October 1st[/B], the beginning of the new fiscal year, the budget must be worked out between the President and the Congress so that government agencies can continue to spend and function. The [URL="http://useconomy.about.com/od/governmentagencies/p/Treasury.htm"]Treasury[/URL] Department's Financial Management Services executes the budget. This is the agency that makes payments, collects revenues and delinquent debt and issues reports including the Treasury statements. [COLOR=#ff0000]Seeing how bhos' budgets keeps getting ZERO votes in the senate[/COLOR] [COLOR=#ff0000], no wonder nothing gets done . My personal budget is based on how much money I get weekly minus expenses and beer money . [/COLOR] [/QUOTE]
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