Backgroud of the United States Budget
Background of the United States BudgetThis coming year, in 1999, our Federal Government will spend over $1.7 trillion. They use this money to support causes that aid to the betterment of society, the health of the people, research for better and new materials, education, and one of the biggest, the military. Each year, by the first Monday if February, the President of the United States presents to Congress the proposed Federal Budget for the next fiscal year. Each fiscal year starts on October 1st of the preceding year. This budget is gathered and created by the White House's Office of Management and Budget (OMB). They create the budget based on requests made by individual agencies and from consulting with the President's senior advisors and officials from cabinet departments and other agencies. After receiving the proposed budget from the President, the congress meets to overlook it.During the process of overlooking the budget, the congress, with the President, decide how much they are going to spend to each activity that the government endorses. Some examples are public libraries, police forces, education, national zoo's, the CIA, FBI and other organizations. Once they have a concrete estimate of how much money the
Many of the deficits occur because of mandatory spending. In the year 1997, the Internal Revenue Service collected 737 billion dollars from the people of the United States. Our active-duty force has diminished from 2. Lockheed Martin Corporation makes various fighter planes and missile systems. This money goes to the payment of salaries for troops, transportation of the troops, the weapons they use, the actual costs of war, and the testing and development of new weapons and tactics, as well as other obvious expenditures (and many other secret projects which are kept classified). The struggle of businesses to obtain government military contracts is a tough one. The money the government allows the Defense Department to spend is not considered to be gone. This type of spending allows the economy to prosper because we are keeping the circulation of money within our own country. Without the military funding, many companies would not even exist and the technology of today would be much less than it has turned out to be. Because of the money we delegate to the military, it is the finest, most talented, and best-equipped military force in the world. 37 trillion dollars and is expected to keep rising to a projected debt of $6. Boeing and Lockheed, now one company, are the largest contract, by far, of the American military. When this happens, it is called a deficit. This amounted to 46 percent of the total income for the U. Social Security, Medicare, Medicaid, Veteran's Benefits, Food Stamps, and interest on the National Debt are all examples of what the government is required by law to pay for each year.
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