List the five stages in the Federal budgetary process. Development of Agency Budgets by bureau chiefs and other agency officials, who provide them to the Office of Management and Budget. OMB evaluates the agency budgets, and submits a tentative executive budget to the President who reviews, amends and recommends changes. OMB finalizes it. The President presents the advisory executive budget to Congress by the first Monday in February.
Legislature takes action on the proposed budget and enacts appropriations legislation.
The budget is executed by the executive branch. Explain a major problem with the federal budgetary process and why it is a problem. The length of the budget cycle is 30 months, which means that political and economic conditions change. The growth of the cost of interest owed on the national debt. The concept is that programs and activities should not automatically be funded, but should have to justify their continuation as part of the yearly budget cycle.