Navigating the Complexities of the Federal Budget

The President and Congress use the federal budget process to help allocate federal funds among competing demands. The 2015 President’s Budget (which will be released on March 4^th), is

• the President’s principal policy statement;
• the administration’s plan for funding the government; and
• the starting point for Congress’s budgetary actions.

Resources to help you navigate the complexities of the federal budget process

Budget Glossary: Our budget glossary is a basic reference document for anyone interested in the federal budget-making process. It defines commonly used budget terms you will hear a lot in the coming weeks as well as relevant economic and accounting terms. It also helps clear up any confusion when terms have different budgetary and nonbudgetary meanings.

Agency Level Questions: We also have resources if you are planning to look at an individual agency or program’s account information in detail:

• These key questions for reviewing carryover balances can help provide insight into why a balance exists, what size balance is appropriate, and what opportunities (if any) for savings exist.
• These key questions about costs and collections for user-fee-funded accounts can help identify and manage potential fluctuations in fee collections, and identify potential consequences.

Long-Term Fiscal Outlook Simulations: We work to provide Congress and the public with updated analysis on the fiscal outlook for the federal government and for the state and local government sector and with answers to key questions about federal debt to help inform budgetary decisions.

Watch our video for an overview of what the federal debt is, and what it isn’t.

• Comments on GAO’s WatchBlog? Contact blog@gao.gov.