assignment 3

You are required to answer the following questions after watching the first 8 minutes video on budging and the reading material on the same. https://www.youtube.com/watch?v=W-55Q740oYE

1. Watch the 8 minutes void and explain the five key steps of the budget process. Do you think it is different from the budget process elaborated in the reading material- how?

2. Explain the difference between discretionary spending and mandatory spending by giving examples. On which spending category does the congress has much space to debate – why?

3. Discuss the importance of the budgeting process as related to policy? Budgeting can also be used as instrument to stabilize the economy and help prevent inflation and recession – explain how and discuss a recent period how the budget used to serve the same.

4. Elaborate the line item veto and discuss how it empowers the president and the critics on the same.

5. The two approaches of budgeting are incremental and baseline budgeting. Ellaborate each of them and explain the differences.

6. Discuss the 4 main topics that the congress seeks information when reviewing agencies budgets and programs.