Reflection onDifferences between State and Federal Capital Budgeting.

Define what we mean by "capital budgeting" in a public budgeting context.

The States and the Federal government approach capital budgeting very differently. Briefly outline the general approaches taken by the States versus the Federal government, addressing the key advantages and disadvantages to both approaches.

There is vigorous debate among economists and others about whether or not the Federal approach should look more like the State approach. From what you've learned about States, do you find arguments in favor of a separate capital budget for the Federal government compelling? Why or why not?

Please dont use a complex language