What is the President’s budget?
Technically, it’s only a budget request—a proposal telling Congress how much money the President believes should be spent on the various Cabinet-level federal functions, like agriculture, defense, education, etc.
Why does the President submit a budget to Congress?
The Congressional Budget Act of 1974 requires that the President of the United States submit to Congress, on or before the first Monday in February of each year, a detailed budget request for the coming federal fiscal year, which begins on October 1.
If it’s due the first Monday in February, why are we just now hearing about it?
President Obama turned in his budget late—again. This will be Obama’s fifth late budget submission in five years, making him the first President to present three consecutive late budgets. According to the House Budget Committee, “All presidents from Harding to Reagan’s first term met the statutory budget submission deadline in every year.” Reagan and Clinton both missed their deadlines once in eight years.
What is the function of the President’s budget request?