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  • moses_on_wall_street moses_on_wall_street Jan 5, 2013 1:11 PM Flag

    A Trillion Dollar Platinum coin?-Some are serious

    As I recall, it is the constitutionally mandated function of the executive branch to submit a comprehensive budget proposal, not CONgress.

    The President Submits a Budget Proposal to Congress
    Following the procedure required by the Congressional Budget and Impoundment Control Act of 1974, the President presents a budget proposal for the coming Fiscal Year to Congress on or before the first Monday in February.

    Based on the input of the federal agencies, the president's budget proposal projects estimated spending, revenue, and borrowing levels broken down by functional categories for the coming fiscal year to start October 1.

    The president's budget proposal serves as a "starting point" for the Congress to consider. Congress is under no obligation to adopt all or any of the President's budget and often makes significant changes. However, since the President must ultimately approve all future bills they propose, Congress is often reluctant to completely ignore the priorities of the President's budget.

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    • The president has presented a budget. It was a joke of course and got not a single vote. But at least he went through the motions. And so has the House of representatives. Harry Reid? Well he feels no need to worry about pesky constitutional requirements.

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