Federal Budget and Government Roles

Who is responsible for submitting the initial federal budget proposal?

• The President

• The Supreme Court

• State Governors

• Congress

What happens if Congress does not approve the budget by the beginning of the fiscal year?

• The government automatically shuts down

• A continuing resolution may be passed

• The Supreme Court intervenes

• The President decides on the budget alone.

What government office helps the President prepare the budget?

• Congressional Budget Office (CBO)

• Office of Management and Budget (OMB)

• Department of the Treasury

• Government Accountability Office (GAO)

Which Branch of government ultimately approves the federal budget?

• State

• Legislative

• Judicial

• Executive

The U.S. government's fiscal year begins on and ends on .

• October 1st

• November 14th

• October 11th

• September 30th

The _ is a report that provides Congress with economic data and budgetary projections.

(a)  

The two types of federal spending are_ and _.

• Discretionary

• Payout

• Mandatory

• Employ

What is the purpose of the Congressional Budget Office (CBO)

• It approves funding bills to the president to sign or veto

• Provides independent economic and budgetary analysis to Congress to help with decision making.

• 1. Federal agencies create budget requests and submit them to the White House Office of Management and Budget (OMB).

• U.S. Congress begins work on a federal budget for the next fiscal year.

_spending is required by law and includes programs like Social Security and Medicare, while _ spending is decided annually by the congress and includes areas like defense and education.

(a)  

If the government spends more than it collects in revenue, it runs a _.

• Discretionary

• Legislative

• Deficit

• Veto