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Week 7 Forum Direction: Budgeting Fall Out In America
Essay Instructions:
Based upon your textbook Public Administration in America answer the following
1. Discuss modern government budgeting at the federal level since the 1985. What was passed in 1985 to help reduce the deficit? How did these measures end in the 2000s, and why? In your explanation, use and define such budgeting terms such as fiscal policy, gross domestic product, taxation, budget deficits, money supply, and the national debt.
2. You are the President. The economy has just crashed due to over-speculation by financial institutions. The solution, some feel, is the Troubled Asset Relief Program (TARP). Others feel it is a waste of money. Argue for or against the government spending, using arguments as outlined in your text.
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Budgeting Fall Out In America
In 1985 several Acts were passed in the American government to help reduce the deficit of the government budget. The main idea of the Acts was to cut down the spending when they exceed the fiscal year budget spending thresholds. In these 1985 Acts, allowable deficit level was calculated to help in the eventual elimination of the federal budget deficit. The reports on the automatic spending cut as given to the Controller General (President Advisor on budget matters) by the directors in the Office of Management and Budget (OMB) together with the Congressional Budget Office (CBO) were to give estimations of the cuts which should be applied for the budget deficit to be reduced. Later in 2000, the budget fall out of balance. From this year, the budgets have run consistently with substantial deficits. The large budget deficits are said to be the cause of the imbalanceCITATION Mil13 \p 488 \l 1033 (Milakovich and Gordon 488).
The major reason for the cru...
Course
Instructor
Date
Budgeting Fall Out In America
In 1985 several Acts were passed in the American government to help reduce the deficit of the government budget. The main idea of the Acts was to cut down the spending when they exceed the fiscal year budget spending thresholds. In these 1985 Acts, allowable deficit level was calculated to help in the eventual elimination of the federal budget deficit. The reports on the automatic spending cut as given to the Controller General (President Advisor on budget matters) by the directors in the Office of Management and Budget (OMB) together with the Congressional Budget Office (CBO) were to give estimations of the cuts which should be applied for the budget deficit to be reduced. Later in 2000, the budget fall out of balance. From this year, the budgets have run consistently with substantial deficits. The large budget deficits are said to be the cause of the imbalanceCITATION Mil13 \p 488 \l 1033 (Milakovich and Gordon 488).
The major reason for the cru...
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