The Budget Process: Government Resources

Major Government Agencies

Office of Management and Budget (OMB)
OMB assists the President in preparing the Federal budget and supervises its administration in Executive Branch agencies. OMB evaluates the effectiveness of agency programs, policies, and procedures, assesses competing funding demands among agencies, and sets funding priorities. OMB ensures that agency reports, rules, testimony, and proposed legislation are consistent with the President's budget and with Administration policies.

Federal Reserve Board (The Fed)

Conducts the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy. Actively monitors U.S. financial system as a whole; fosters payment and settlement system safety and efficiency through services to the banking industry and the U.S. government that facilitate U.S.-dollar transactions and payments; research and analysis of emerging consumer issues and trends, community economic development activities, and the administration of consumer laws and regulations.

Council of Economic Advisers (CEA)
Analysis and appraisal of the national economy for the purpose of providing policy recommendations to the President.

Department of Treasury

http://www.treasury.gov/

 

Executive Branch

Office of Management and Budget (OMB)
OMB assists the President in preparing the Federal budget and supervises its administration in Executive Branch agencies. OMB evaluates the effectiveness of agency programs, policies, and procedures, assesses competing funding demands among agencies, and sets funding priorities. OMB ensures that agency reports, rules, testimony, and proposed legislation are consistent with the President's budget and with Administration policies.
   
Major OMB Publications:

  • Budget of the U.S. Government - A proposal issued by the President with various supporting appendices and tables; it indicates Presidential goals and priorities for the next fiscal year. It includes a description of the economic assumptions on which the budget is based, and detailed agency programs and expenditures. 

Online versions: FY 1996-present (in govinfo)
Online versions: FY 1922-present (in the Federal Reserve)

Columbia Libraries Catalog Call No. HJ 2051 .Un31
 includes Budget Message of the President, Analytical PerspectivesAppendix, and Historical Tables

Council of Economic Advisers (CEA)
Analysis and appraisal of the national economy for the purpose of providing policy recommendations to the President.

Major CEA Publications:

  • Economic Report of the President. Annual. 1966-
    Precedes the budget itself; an assessment of the economic situation and policy proposals; includes the report of the Council of Economic Advisers.
     Columbia Libraries Catalog Call No. HC 106.5. U5 A121

Department of the Treasury

Major DOT Publications:

  • Financial Report of the United States Government
    The Financial Report of the United States Government, issued by the Department of the Treasury, analyzes how revenue was spent in the fiscal year on programs and services and discusses the government’s resulting financial position. Cost is reported at the time an obligation to pay arises rather than when payments are made.
  • Calculate the Public Debt to the Penny and Who Holds It, Bureau of the Public Debt

The Federal Reserve

Major Federal Reserve Publications:

Major Publications

Budget of the U.S. Government - A proposal issued by the President with various supporting appendices and tables; it indicates Presidential goals and priorities for the next fiscal year. It includes a description of the economic assumptions on which the budget is based, and detailed agency programs and expenditures. 

 

Legislative Branch

In recent years the budget is not passed as a single act of Congress, but instead in a series of Omnibus Appropriations, Continuing Appropriations, Regular Appropriations and Budget Resolutions.  See Congress.gov, search “Current Legislation” tab for “budget” to find bills and laws.  You can filter by date and to show only legislation that has become law (i.e. passed both chambers of Congress and been signed by the President).

CBO's mission is to provide the Congress with objective, timely, nonpartisan analyses needed for economic and budget decisions and with the information and estimates required for the Congressional budget process. 

Major Recurring Reports

  • An Analysis of the President's Budgetary Proposals for Fiscal Year ... “[T]he budgetary impact of the proposals in the President’s budget using the agency's own economic forecast and estimating assumptions. CBO’s independent "reestimate" of the President’s budget allows the Congress to compare the Administration's spending and revenue proposals with CBO’s baseline spending and revenue projections and with other proposals using a consistent set of economic and technical assumptions.” 

      Columbia Libraries Catalog Call No. Y 10.19:

  • Budget and Economic Outlook. Annual, with updates. 1979- “Projections of economic and budget outcomes which incorporate the assumption that current law regarding federal spending and revenues generally remains in place. Those baseline projections cover the 10-year period used in the Congressional budget process.”

       Columbia Libraries Catalog Call No. Y 10.13 (Offsite)

  • Budget Options. Annual. “[R]eference volumes examining options for reducing budget deficits. The volumes include a wide range of options, derived from many sources, for reducing spending and increasing revenues.”

      Columbia Libraries Catalog Call No. Y 10.2: B 85/3/ - U.S. Government Documents
      Earlier title: Reducing the Deficit: Spending and Revenue Options.

  • Long-Term Implications of the ---- Future Years Defense Program. Search on the CBO website to see the latest reports and testimony before Congressional budget committees.
  • Monthly Budget Review. The monthly status of federal spending and revenues (outlays, receipts and the deficit or surplus). Based on information from the Treasury Department.
  • Sequestration. Estimates of the caps on funding for discretionary programs for each fiscal year through 2021 and report on whether, according to those estimates, a sequestration (a cancellation of budgetary resources) would be required. OMB ultimately makes the determination of whether a sequestration is required based on its own estimates.
  • Unauthorized Appropriations and Expiring Authorizations. “[A]ll programs and activities funded for the current fiscal year for which authorizations of appropriations have expired or will expire during the current fiscal year.” Three times per year, sorted differently.

  Columbia Libraries Catalog Call No. Y 10.2:

Every 2 years at the start of a new Congress, GAO calls attention to agencies and program areas that are high risk due to their vulnerabilities to fraud, waste, abuse, and mismanagement, or are most in need of transformation.