Author Topic: Looking for Clarification on budgets, deficits, debt, spending ect.  (Read 843 times)

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Offline Rugnuts

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Budgets:
1. The house and senate must each pass the budget, then Pres. signs. Right?
2. This is yearly?
3. Does congress allocate how all/some/none of the money is spent?
4. I assume the Pres. allocates some. Yes?
5. How does emergency spending figure into this? like the help after (a while) Hurricane Katrina. Did that just come from a Dept. General fund? What if it doesn't get used?

Deficits:
6. How the hell did ours get so big? no answer needed.
7. I read a book somewhere that some things don't count when figuring surplus/deficits, why?
 
Debt:
8. see deficits #6^^^?
9. How come the debt limit is $14.3T but the debt clock already says $14.54T and counting?

Spending:
10. If we don't get a debt deal, who ultimately decides what gets paid for and what doesn't? Strictly the Pres?