The Economic Policies of the 2020 Election - Trump v. Biden: Fiscal Policy

The video explains the intricacies of fiscal policy in the U.S., highlighting the complex process of creating and approving a government budget. It outlines the roles of the President, Congress, and various offices in drafting and amending budget proposals. The video also discusses the challenges faced in passing budget bills, including political dynamics and potential obstacles from Congress and the Supreme Court. It emphasizes that presidential promises may differ from actual outcomes due to limited direct authority over fiscal matters.

What is fiscal policy and how does it relate to government taxation and spending?

Describe the role of the President in the fiscal policy process.

What is the function of the Congressional Budget Office?

Explain the significance of the reconciliation committee in the budget process.

What are reconciliation bills and how do they function in the context of the budget?

How can the composition of Congress affect the budgetary reform process?

Discuss the limitations of a President's authority over budget allocations.