Opening Bids; Budgets and Congress  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 406 no. 8827 (Mar. 2013), page 36.
Topik: Federal Budget; Fiscal Policy; Political Parties; Conflict; Public Officials

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.76 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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When Congress sought to claw back fiscal authority from Richard Nixon in the early 1970s, it came up with its own budget process. The House of Representatives and the Senate would draw up separate budget resolutions and, through negotiation, turn them into a single budget. In recent years that process has, more often than not, broken down. Congress has resorted to stand-alone spending bills, temporary fixes and behind-the-scenes deals with the White House. This past week, the budget process showed some signs of coming back to life. If both House and Senate pass their resolutions, they are supposed to then negotiate to produce a single reconciled budget by April 15th. The odds of that look slim indeed, given their profound differences on taxes and entitlements. Barack Obama's own budget proposal is due in the coming month. He has hinted recently that he would offer bigger cuts to entitlements than Democrats in Congress have so far embraced, in hopes of reviving a "grand bargain" with moderate Republicans open to somewhat higher taxes. In the absence of such a breakthrough, patchwork deals will resume while the long-term fiscal imbalance goes unaddressed.

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