Explainer: What is President Obama’s Budget?
What is the President’s budget? Technically, it’s only a budgetrequest—a proposal telling Congress how much money the President believes should be spent on the various Cabinet-level federal functions, like agriculture, defense, education, etc. Why does the President submit a budget to Congress? The Congressional Budget Act of 1974 requires that the President of the United States submit to Congress, on or before the first Monday in February of each year, a detailed budget request for ing federal fiscal year, which...