Results for Government budget
On this page:
 
Britannica Concise Encyclopedia:

government budget


Forecast of governmental expenditures and revenues for the ensuing fiscal year. In modern industrial economies, the budget is the key instrument for the execution of government economic policies. Because government budgets may promote or retard economic growth in certain areas of the economy and because views about priorities in government spending differ widely, government budgets are the focus of competing political interests. In the U.S. the federal budget is prepared by the president's Office of Management and Budget. The U.S. Congress has considerable input, influencing the budget's preparation through negotiations with the president and considering it in detail on its official submission to Congress.

For more information on government budget, visit Britannica.com.

 
 
Wikipedia: Government budget
Budgeted revenues of governments in 2006
Enlarge
Budgeted revenues of governments in 2006

A government budget is a legal document that is often passed by the legislature, and approved by the chief executive. For example, only certain types of revenue may be imposed and collected. Property tax is frequently the basis for local revenues, while sales tax may be the basis for state revenues, and income tax and corporate tax are the basis for national revenues.

The two basic elements of a budget are the revenues and expenses. Budgets have an economic, political and technical basis. Unlike a pure economic budget, they are not entirely designed to allocate scarce resources for the best economic use. They also have a political basis wherein different interests push and pull in an attempt to obtain benefits and avoid burdens. The technical element is the forecast of the likely levels of revenues and expenses.


This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)

 
 

Join the WikiAnswers Q&A community. Post a question or answer questions about "Government budget" at WikiAnswers.

 

Copyrights:

Britannica Concise Encyclopedia. Britannica Concise Encyclopedia. © 2006 Encyclopædia Britannica, Inc. All rights reserved.  Read more
Wikipedia. This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Government budget".  Read more

Search for answers directly from your browser with the FREE Answers.com Toolbar!  
Click here to download now. 

Get Answers your way! Check out all our free tools and products.

On this page:   E-mail   print Print  Link  

 

Keep Reading

Mentioned In:

 |  More >More >
 

Do you have the answers?