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Presidents Budget and the Congressional Budget process/overriding national and international policies that effect U.S. economy and its impact on transportation and logistics management - Assignment Example

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The annual President’s Budget is submitted to Congress for approval. The President’s annual budget proposal contains a detailed proposal of the…
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Presidents Budget and the Congressional Budget process/overriding national and international policies that effect U.S. economy and its impact on transportation and logistics management
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Download file to see previous pages argues that after Congress receives the President’s budget, it commences on considering budgetary legislation and budget resolution for the next fiscal year from 1st October. It then takes into account a number of measures that empower Congress to apportion funds to various programs for every fiscal year. Congress decision making capability is overseen by the rules of the House and Senate, and the Budget Act (Kramer, 2012).
According to Wessel, the one question that is constantly asked is whether the incoming or outgoing president is going to submit the budget, pertaining to the upcoming financial year. Prior to 2001, outgoing presidents submitted the Presidential budget to Congress before vacating the Oval Office and in turn, their predecessors changed their budget to match their goals. However, unlike other previous regimes, the government of George W Bush in 2001 did not revise the budget of his predecessor, Bill Clinton. Since 2001, the budget has been submitted by George W. Bush in 2001 and Barrack Obama in 2009. Changes in the budget process can be attributed to an increase in government spending on security and tax cuts which have led to budgetary deficits (Wessel, 2012).
According to Schick et al., prior to Barrack Obama assuming office in 2009, the previous three incoming Presidents who either revised or submitted their predecessor’s budget, didn’t do so until April of their first year of presidency. However, every one of them gave Congress advice pertaining to the overall state and variations of the budgetary and economic policies via a special message. The message was relayed to Congress in February while simultaneously submitting a presentation to Congress in a joint session (Schick et al., 2000).
The two presidents since 2001 have not taken their position with a predecessor’s budget in place. According to the 1921 Act, Presidents are entitled to submit revisions on Presidential Budgets to Congress at any time. On February 28 2001, President ...Download file to see next pagesRead More
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