POS-4424 Lecture Notes - Lecture 10: United States Senate Committee On The Budget, United States House Committee On The Budget, Social Security Trust Fund
Makes sure to keep in mind the process outline.
When the Social Security Act of 1935 was passed the average life expectancy in the U.S.
was 61.7 years. Welfare for the elderly.
Today, the average life expectancy in the U.S. was 78.7 years.
Beginning in 2008, the oldest members of the baby boom generation because eligible for
social security.
The number of citizens eligible for social security is increasing at a faster rate than the
number of workers paying into the system (PayGo) which threatens solvency of the
Program. (More people taking out then putting in)
Social Security Trust Fund:
Federal Budgeting:
Preparation and Submission of the Budget by the President OMB to the Congress
(Budget and Accounting Act of 1921)
Congressional Action on the President’s Budget Proposals (Ignore it)
Execution of Budget-Related Laws by Federal Agencies (Mandated by Law to spend it)
Audits of Agency Spending (OMB Office President, CBO Congress Budget Office
Independent of Congress, GAO Government Accountability Office )
Congressional Budget Process:
The “Congressional Two-Step”: Authorization and Appropriation
Authorization (Standing Committee): Step 1 Congress pass authorization bill that
establishes or continues an agency or program and provides it with legal Authority to
operate. (creating gov.t agencies, creating programs)
Authorizations may be for one or more years, and such legislation typically recommends
funding levels for programs and agencies.
Until the 1950s, most federal programs were permanently authorized (pre-1950s
permanent authorizations remain in effect today unless changed by Congress).
There essentially were two reasons for the move away from permanent authorization: 1)
the authorizing committees wanted greater control and oversight of executive branch
activities, and 2) short-term authorizations kept appropriations in line.
Appropriation (Appropriation Committee/12 Subcommittee) Step 2: The Enactment
of 12 general appropriations Bills.
Authorization must occur before appropriation!
Types of Appropriations Bills:
Annual – also called regular or general
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Document Summary
Makes sure to keep in mind the process outline. When the social security act of 1935 was passed the average life expectancy in the u. s. was 61. 7 years. Today, the average life expectancy in the u. s. was 78. 7 years. Beginning in 2008, the oldest members of the baby boom generation because eligible for social security. The number of citizens eligible for social security is increasing at a faster rate than the number of workers paying into the system (paygo) which threatens solvency of the. Program. (more people taking out then putting in) Preparation and submission of the budget by the president omb to the congress (budget and accounting act of 1921) Congressional action on the president"s budget proposals (ignore it) Execution of budget-related laws by federal agencies (mandated by law to spend it) Audits of agency spending (omb office president, cbo congress budget office. Independent of congress, gao government accountability office )
