Federal Budget Concepts—Bright Lines or Black Holes? |
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| Authors: | Thomas J. Cuny |
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| Affiliation: | Federal retiree who spent twenty-five years working for BOB/OMB and five years working for CBO. He lives at 3004 School St., Alexandria, VA 22303. |
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| Abstract: | This article reviews a range of issues that are central to the organizing principles of the federal budget—the guidelines that determine whether a transaction belongs in or outside of the budget; and, if it belongs in the budget, how it should be recorded. The article starts by discussing the nature of the federal budget, the powers and responsibilities of the federal government, and related issues, and then discusses four broad sets of budget concepts issues: (I) Budgeting for Earmarked Taxes and Spending; (II) Budgeting for Capital Investment; (III) Classification Categories Within the Budget; and (IV) Evasions of Budgetary Coverage. |
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