Question

what should the president's role be in the budgeting process

Answer 1

Answer : The president's role be in the budgeting process

The President is required to annually prepare and submit a comprehensive federal budget to Congress for the fiscal year.The President sets out his national priorities and proposes policy initiatives in the federal budget submitted to Congress.The President’s budget submission provides him the opportunity to influence the agenda for the upcoming budget and policy debate in Congress.

Most of the content included in the President’s budget is required by law; the President usually provides additional information as he so determines. Generally, the President’s budget includes estimates of expenditures, revenues, borrowing, and debt in the forthcoming fiscal year and four subsequent fiscal years; policy and legislative recommendations; information on activities and functions of the federal government; and any other information supporting his budget proposal. The President’s budget must include an annual government-wide performance plan that reflects the budget and management decisions made throughout the process of formulating the budget.

The 1921 Budget and Accounting Act created the Bureau of the Budget, later renamed the Office of Management and Budget (OMB), to assist the President in carrying out his budgetary duties. Along with OMB, the Council of Economic Advisors and the Treasury Department assist the President by providing economic projections and revenue estimates. The President may also rely on nonstatutory entities and informal groups within the executive branch to advise him in formulating his budgetary policies.

During a presidential transition, the incoming (or newly elected) President may submit a budget to Congress after the deadline. The outgoing President is not required to submit a budget because his term ends before the deadline.

The President’s role in budget development generally does not end with his budget transmittal to Congress. The President may revise his budget recommendations at any time during the year.