The U.S. Budget in Brief

United States. Office of Management and Budget

U.S. Government Printing Office, 1974 - Budget

Popular passages

Page 3 - ... prices ; — a strong defense force in support of our efforts to build an enduring structure of peace in the world ; — a comprehensive energy program to deal with current shortages and to reestablish our ability to be self-sufficient in energy...‎

Page 43 - House, the appropriation and tax bills are forwarded to the Senate, where a similar process Is followed. In case of disagreement between the two Houses of Congress, a conference committee (consisting of Members of both bodies) meets to resolve the issues. The conference report is returned to both Houses for approval, and...‎

Page 3 - President's budget for 1975 pursues a number of major objectives: The proper fiscal balance to keep the economy on the track to sustained high employment and more stable prices; a strong defense force in support of our efforts to build an enduring structure of peace in the world ; a comprehensive energy program to deal with current shortages and to reestablish our ability to be self-sufficient in energy...‎

Page 43 - OMB exercises its review responsibility by appraising program and financial reports and by keeping abreast of agencies' efforts to attain program objectives. In addition, the General Accounting Office, as an agency responsible to Congress, regularly audits, examines, and evaluates Government programs.‎

Page 13 - ... readiness of its combat forces. It is hoped that negotiations toward strategic arms limitations and mutual and balanced force reductions will be successful in reducing further the threat of war. However, while negotiations continue, the United States must maintain adequate force levels and technology. If negotiations fail and the Soviet Union seeks military advantage, the United States must be prepared to increase its forces quickly and effectively.‎

Page 60 - In apportioning any appropriation, reserves may be established to provide for contingencies, or to effect savings whenever savings are made possible by or through changes in requirements, greater efficiency of operations, or other developments subsequent to the date on which such appropriation was made available.‎

Page 12 - ... Administration has placed high priority on the identification and development of the most able career managers. We intend to intensify this effort. Increasing the effectiveness of individual programs is another essential step in improving overall governmental performance. During the past year I have launched an intensive effort to strengthen the management of major Federal activities. The emphasis in this management initiative is not on producing a great display of activity, nor on merely rearranging...‎

Page 3 - ... provide for a fiscal policy that would support high employment while restraining inflation. It would maintain the flexibility to take further action, if needed, to offset the effects of energy shortages. My budget recommendations hold the rise of Federal spending to the minimum increases necessary. The budget recommends total outlays of $304.4 billion in 1975, $29.8 billion more than in 1974, and anticipates receipts of $295 billion, a $25 billion increase over 1974. About 90% of the increase...‎

Page 6 - ... the relative decline in controllable defense spending, the growth in mandatory grants to State and local governments, and the growth in human resource programs (which largely take the form of benefit payments, set by law, to individuals and families). In 1975, over $223 billion in outlays, or nearly threequarters of the budget, will be virtually uncontrollable in the short run due to existing law and prior-year commitments. This represents a substantial decline in the controllability of the budget...‎

Page 9 - President in 1969, defense outlays were nearly one-fifth more than combined outlays for aid to individuals under human resource programs and for aid to State and local governments. While our defenses are being maintained and strengthened, this budget proposes spending nearly twice as much money for aid to individuals and to State and local governments as for defense. This dramatic shift in Federal spending both reflects and supports the New Federalism. THE BUDGET AND THE ECONOMY...‎

Bibliographic information

• Title: The U.S. Budget in Brief
• Author: United States. Office of Management and Budget
• Contributor: United States. Bureau of the Budget
• Publisher: U.S. Government Printing Office, 1974
• Original from: the University of Michigan
• Digitized: May 10, 2007