The relationship between the federal budget and the national economy is reciprocal, because the budget affects the economy and the economy shapes the budget.
Articulated by his book published in 1936, the theory that government can use the budget to steer the economy can be attributed to John Maynard Keynes.
The Congressional Budget Office estimates that between 2009 and 2020 the federal debt owned by the public as a share of the total economy will increase
The ______ proposes the budget and the ______ authorizes expenditures and determines how revenues are obtained. agencies; Congress
By often drafting appropriations acts as narrowly as possible, Congress attempts to reduce the possibility that the president will exercise the authority to impound?
______ revolutionized the federal budget process and increased presidential power. The Budget and Accounting Act
Top-down budgeting differs from bottom-up budgeting in that the former examines the big picture.
Management by objectives and zero-base budgeting are techniques to reform incrementalism.
Prior to 1921, ______ provided the primary leadership during the federal budget process. Congress
Creating a biennial budget and enacting a balanced-budget constitutional amendment were processes implemented to reform the budget process.
Government taxation and spending is called fiscal policy.
The Federal Reserve manages the money supply, a responsibility also known as monetary policy.
The share of the federal budget that Congress and the president can readily change (control) in any given year went from 66 percent in 1965 to ______ percent in 2009. 35%
A congressional ______ commits money for spending, and congressional ___ create programs and place limits on the amount of money that can be spent. appropriation; authorizations
Congress mainly uses legislative controls and ______ to restrain executive discretion. limits on executive impoundment
The classic question of basic budgeting: “On what basis shall it be decided to allocate x dollars to activity A instead of activity B?” can be attributed to whom? V.O. Key
T/F: The Performance Assessment Rating Tool (PART) was developed by George W. Bush. True
T/F: The larger the federal deficit, the more of the federal budget must be devoted simply to paying interest. True
T/F: The Congressional Budget Office is the congressional equivalent to the president’s Office of Management and Budget. True
T/F: The Impoundment Control Act was created to prevent the gross abuse of impoundment authority by President George W. Bush. False
T/F: The flow of money throughout the bureaucracy provides a tool for controlling the implementation of government programs. True
T/F: The federal budget is just like state and local budgets having the same amount of resources to sustain deficits and the same amount of fiscal authority that state and local governments do. False?

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