Citizen's Guide to the Federal BudgetProvides a basic sense of what the budget is, how the Government raises and spends money, why it has generated budget deficits over the years, and why you should care about the deficit. Also provides an explanation of the President's budget policies to date, and what he plans for the future. |
Common terms and phrases
1996 budget provides agencies Analytical Perspectives volume annual appropriations acts authority and outlays available for obligation balances of budget budget authority provided budget deficit Budget Enforcement budget process budget resolution budget system budget totals budgetary resources changes committees corporate income taxes credit programs credited to expenditure Debt Held deducted defense Deposit Account direct loans disbursements discretionary spending enacted estimated excise taxes expenditure accounts Federal budget Federal credit Federal Government Federal Reserve System Federal spending fiscal Food Stamp program fund accounts fund receipts G.I. Bill governmental receipts Gramm-Rudman-Hollings Act interest Intragovernmental investment legislation loans and loan Medicaid Medicare ment national debt off-budget totals offsetting receipts on-budget PAYGO payments permanent laws President and Congress President's budget program account proposed receipt accounts recorded reduce result revenues revolving funds Seigniorage sequester Social Security specified subfunction surplus tions transactions Treasury Treasury securities trust funds United States Government UPNS
Popular passages
Page 4 - The Congress first enacts legislation that authorizes an agency to carry out a particular program and, in some cases, sets a limit on the amount that subsequently can be appropriated for the program.
Page 19 - Not all budget authority enacted for a fiscal year is obligated and paid out in the same year. In the case of salaries and wages, 1 to 3 weeks elapse between the time of obligation and the time of payment. In the case of major procurement and construction, up to several years may elapse. Amounts which have been obligated...
Page 29 - Offsetting collections — Offsetting collections are collections from the public that result from businesstype or market-oriented activities and collections from other Government accounts. These collections are deducted from gross disbursements in calculating outlays, rather than counted in Governmental receipt totals. Some offsetting collections are credited directly to appropriation or fund accounts; others, called offsetting receipts, are credited to receipt accounts.
Page 33 - MAIL ORDER FORM To: Superintendent of Documents, US Government Printing Office, Washington, DC 20402 Enclosed find $. (check or money order payable to the Superintendent of Documents) (Please do not send cash or stamps.) Please send me the publications I have indicated. Please charge this order to my Deposit Account Deposit Account Number iiiiii in Street address .. City and State ZIP Cod« Credit Card Orders Only Total charges $ Credit Card No.
Page 26 - Budget authority (BA)—Budget authority is the authority provided by Federal law to incur financial obligations that will result in outlays. Specific forms of budget authority include: • provisions of law that make funds available for obligation and expenditure (other than borrowing authority), including the authority...
Page 26 - budget authority" means the authority provided by Federal law to incur financial obligations, as follows: (i) provisions of law that make funds available for obligation and expenditure (other than borrowing authority), including the authority to obligate and expend the proceeds of offsetting receipts and collections; (ii) borrowing authority, which means authority granted to a Federal entity to borrow and obligate and expend the borrowed funds, including through the issuance of promissory notes or...
Page 27 - current" has the same meaning as in section 250(c)(9) of the Balanced Budget and Emergency Deficit Control Act of 1985. (3) The term "direct loan" means a disbursement of funds by the Government to a non-Federal borrower under a contract that requires the repayment of such funds.
Page 15 - Budget authority. — Government agencies are permitted to enter into obligations, requiring either immediate or future payment of money, only when they have been granted authority to do so by law. The amounts thus authorized by Congress are called budget authority.
Page 28 - Governmental receipts consist mostly of individual and corporate income taxes and social insurance taxes, but also include excise taxes, compulsory user charges, customs duties, court fines, certain license fees, and deposits of earnings by the Federal Reserve System. Gifts and donations are also counted as governmental receipts. Total receipts for the Federal Government include both on-budget and offbudget receipts (see the table, "Totals for the Budget and Federal Government...
Page 24 - America, including section 254 of the Balanced Budget and Emergency Deficit Control Act of 1985 (Public Law 99-177) , as amended by the Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987 (Public Law 100-119...