Question
Congress is responsible for creating the federal government's annual budget. For agencies and their programs to be funded, Congressional authorization committees must pass, and the
Congress is responsible for creating the federal government's annual budget. For agencies and their programs to be funded, Congressional authorization committees must pass, and the President must sign,all 12 authorization billsby September 30the last day of the current fiscal yearso the country can have a new budget in time for the start of the next fiscal year (USA.gov, n.d.).
Access theGovernment Publishing Office(Links to an external site.)
to obtain Historical Budgetary Tables following the steps below:
- Click on the link to access theBudget of the United States Government(Links to an external site.)
- Click on the "Fiscal Year 2018" link
- Scroll down and select "Historical Tables"
- Obtain the .xls (Excel) file format of Table 1.1 and Table 1.2 to complete the two requirements below:
- Table 1.2 shows the budget of Surpluses or Deficits (-) as Percentages of gross domestic product (GDP). Determine how many times since 1950 the budget has shown a surplus and how many times it has shown a deficit using the data in the Total column, "Surplus orDeficit." Also, identify the 3 years with the highest deficits, and the year with the highest surplus as a as a percentage of GDP. What were the surplus and deficit percentages for these years?
- Table 1.1 shows the budget Summary of Receipts, Outlays, and Surpluses or Deficits (-) from 1789-2022. Identify whether the highest deficits incurred in the identified years from Table 1.2 were paid with tax revenues (receipts) or borrowed funds (outlays). Discuss how the government gets money and where the government spends money on.
- Click on the "Fiscal Year 2018" link, scroll down and obtain the PDF file for "Major Savings and Reforms" to complete the last requirement. The Major Savings and Reforms volume describes major savings and reform proposals included in the 2018 President's Budget.
Links
http://www.gpo.gov/
Please use this link
http://www.gpo.gov/fdsys/browse/collectionGPO.action?collectionCode=BUDGET
This link should be available for anyone, I am unable to attach it.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started