Essay About Sections Of The Budget Of The U.S. Government And Economic Growth

Us Government Budget
Case Analysis:  U.S. BudgetZhanna MakrisDeVry University Keller Graduate School of ManagementPA 581 – Governmental Budgeting and FinanceFall Semester, 2014The purpose of this research is to review and analyze sections of the Budget of the U.S. Government for the fiscal year 2011.  In particular, specific sections of the Budget such as “Budget Message of the President”, “Rescuing the Economy”, “Reviving Job Creation and Laying a New Foundation for Economic Growth”, and “Restoring Responsibility” will be given a summarized review in terms of the issues and initiatives outlined, as well as the overall summary of key points.  Moreover, a particular focus will be given to the analysis of the 2011 budget for the Department of Education, where major funding items, mission statement and key strategic goals, as well as a review of the department’s budget for outlays for the years 2009-2011 will be identified and compared.  The goal of his analysis is to apply scholarly concepts of government budgeting to the real world examples.Budget Message of the President        One of the integral sections of the yearly Budget of the U.S. Government is the presidential message to the Congress of the United States.  The format of the document from President Barack Obama for 2011 Budget was three-fold: (1) the progress that the country made during the past year; (2) outstanding issues that the country is still facing; and (3) current economic situation.        When President Barack Obama took office in January, 2009, the country was experiencing economic downturn caused by the failing housing market, near collapse of the banking sector, crisis in the automotive industry, high unemployment rates, upward spiraling healthcare costs, and the education system that could not compete with those of other industrialized countries.  In addition, country’s dependence on non-renewable energy sources and foreign oil, and compromised home security due to the war on al Qaeda fueled economic freefall and America’s world standing as a leader on the international arena.  To combat ailing domestic economy, Obama’s Administration took measures to increase financial landing to businesses, to enact stability in the housing market, to bail out financial institutions in an effort to avoid economic collapse, and to rescue American auto industry from “rapid dissolution” (The Budget Message of the President, 2010).  Moreover, with the enactment of the American Recovery and Reinvestment Act, many small businesses and working families received tax cuts and emergency financial relief, thus laying the foundation for economic recovery and increased spending.