Free Essay

Budget O F the President

In:

Submitted By hkareem
Words 1242
Pages 5
BUDGET MESSAGE OF THE PRESIDENT
When President Obama took office in the White House, the country was in financial turmoil. The housing market was unstable, Wall Street was crumbling beneath our feet, the automobile industry was near collapse and although I hate to mention it, the massive amount of job lost was a major issue as well.

The progress that the county has made from the previous year are that of a stabilized housing market by allowing lenders to work with homeowners to keep them in their homes and the government extended financial assistance to banks, financial institutions and the automotive industry. President Obama has also, created the American Recovery and Reinvestment Act (ARRA) that invested in the infrastructure of the country. The ARRA provided tax cuts to small businesses, invested in health care, education and infrastructure.

The issues that the country faces as we move forward include the revamping of the education, the rising cost of the health care system and figuring out how to support and protect democracy around the world while trying to reduce the overall budget. The national debt is major concern for the President moving forward. The educational system is not preparing our students for future jobs and we rank lower than our counterparts with similar resources. The health care system prices are continuing to rise, therefore millions of Americans will not be able to afford healthcare. The President must chose how to cut the military spending but keep the homeland safe and other countries as well. The President must be innovative in ways of cutting down the national debt that are in the trillions of dollars.

The economic situation seems to be working to implement cost saving practices through the termination and reduction of more than 120 programs. Also, Troubled Assess Recovery Program (TARP) is allowing legislation to recover the money lent to the banks and other financial institutions. OTHER BUDGET DOCUMENTS

There have been other budgetary documents reviewed, the Department of Education and the Small Business Administration are two additional documents inside the Budget Message of the President that are of significant interest at this point. There are many other departments represented in the Budget Message of the President.

The Department of Education has several significant issues that need to be addressed because the education system is in great need of reform. The issues are preparing K – 12 students to become college and career ready, lack of parental and community involvement with school districts and the reformation of the financial aid system.

The department planned to provide three billion dollars for K – 12 to implement the overhaul of the Elementary and Secondary Education Act (ESEA). The focus would be to establish supporting programs that would enable students to be college and career ready when they leave high school. Another initiative would be to expand opportunities to increase charter schools and to invest in high-quality schools by allotting $490 million dollars in the budget. The reformations of children, from birth through age five, initiatives so the children can be prepared and ready for kindergarten.

The Small Business Administration (SBA) has a significant issue, which is the implementation of growing and creating jobs for Americans. Small businesses are the leading creator of employing people and it creates stability within the economy. Another issue is the lack of funding for small business owners via loans. Small businesses are in need of additional assistance in difficult times. President Obama is willing to invest in them to keep the job market stable and unemployment rate down.

The initiatives that President Obama’s budget mentions were providing twenty-eight billion dollars in loan to assist small businesses so they can have access to the credit they need grow their business and create more jobs. Another initiative that was proposed, which would be monumental is one that would provide long-term disaster recovery loans for homeowners, renters and businesses. The implementation of the lender and procurement programs so that the policy can become transparent to the taxpayers. DEPARTMENT OF EDUCATION

The major funding areas for the Department of Education are: College and Career Ready Students – $14,492,000, Special Education State Grants - $12,569,000 and Legislative Proposal Federal Pell Grants - $28,928,000.

The mission state for the Department of Education is: to foster education excellence, advancing equity an opportunity, improving student achievement, rewarding successful outcomes, investing in innovation, and preparing our Nation’s children for global competitiveness (OMB, 2010).

The strategic goals of the Department of Education are the following: 1. Increase student achievement, reward qualified teachers, and renew troubled schools so that every student can read and do math at grade level by 2014, as called for by the No Child Left Behind Act. 2. Encourage more rigorous and advanced coursework to improve the academic performance of our middle and high school students. 3. Work with colleges and universities to improve access, affordability, and accountability, so that our higher education system remains the worlds finest. (Spellings, 2007).

The budget outlays and estimates from 2009 to 2010 and from 2010 to 2011 percentage increased are: 2009 to 2010 amount of $32,409,000 minus $56,024,000. The monetary increase is more than $23,615,000 dollars. The percentage increase is more than 73% from the previous year. The years from 2010 to 2012 monetary increase was from $56,024,000 in 2010 to an estimated $71,479,000. The increase funds were in the amount of $15,455,000 and the percentage increase was about 28%.

SUMMARY TABLES
BUDGET TOTALS IN THE BILLONS OF DOLLARS
| ACTUAL 2009| ESTIMATE 2010| ESTIMATE 2011|
RECEIPTS| 2,105| 2,165| 2,567|
OUTLAYS| 3,518| 3,721| 3,834|
DEFICIT| 1,413| 1,556| 1,267|
DEBT HELD BY THE PUBLIC| 7,545| 9,298| 10,498|
DEBT NEW OF FINANCIAL ASSESTS| 6,647| 8,184| 9,418| GROSS DOMESTIC PRODUCT (GDP)| 14,237| 14,624| 15,299|
BUDGET TOTALS IN BILLONS OF DOLLARS
| ACTUAL 2009| ESTIMATE 2010| ESTIMATE 2011|
RECEIPTS| 14.8%| 14.8%| 16.8%|
OUTLAYS| 24.7%| 25.4%| 25.1%|
DEFICIT| 9.9%| 10.6%| 8.3%|
DEBT HELD BY THE PUBLIC| 53.0%| 63.6%| 68.6%|
DEBT NEW OF FINANCIAL ASSESTS| 46.7%| 55.8%| 61.6%|

CONCLUSION STATEMENT
In conclusion, the case analysis on the President’s Message on the Budget, provide me with an opportunity to share documented information on how funds are appropriate to each individual federal department. I had a chance to examine the several important topics that directly affect my current job. My current position is funded by the Department of Education so I was able to understand how the issues and initiatives fit into my goals and objectives that I strive to obtain daily. Also, I was able to understand the amount of funding that other programs receive as well. Another important factor that was discovered were the mission as well as the goals of the Department of Education. I mentioned this because as I work within the local school district, I will able to recall what it to be accomplished and I can keep that in perspective. This analysis gave me an opportunity to learn, explore and understand the President’s Message on the Budget.

REFERENCE PAGE
The Budget Message of the President. Office of Management and Budget.. Budget of the United States. February 2010.
Spelling, Margaret. Strategic Plan for Fiscal Years 2007 – 2012. US Department of Education. May 2007. Page 3.

Similar Documents

Premium Essay

Lala

...have and maintain a B average. B. Duties of the executive officers 1. Student Body President a. To chair all STUCO and Executive Board meetings b. To carry out all the duties of membership in STUCO. c. To vote only in case of a tie at Student Council meetings d. To assist and encourage all officers and committee chairpersons to carry out their duties as stated in the constitution. e. To serve as an ex-officio member of all committees. f. Prepare the agenda for each STUCO and Executive Board meeting g. To represent the STUCO and the student body to the Berkmar High School administration h. To ensure that prior approval is obtained from the advisors and administration for Student Council actions, activities, and projects. 2. Student Body Vice President a. To assume Presidential responsibilities in the absence of the President b. To assume the office of the President in the event that the office becomes vacant c. To carry out all the duties of membership in STUCO. d. To preside at any STUCO function in the absence of the president. e. To assist the president, other executive officers, and advisors in planning and carrying out the work of the STUCO. f. To perform other duties as directed by the President g. To serve as an ex-officio member of all committees. 3. Student Body Secretary ...

Words: 1680 - Pages: 7

Premium Essay

Ronald Reagan

...Ronald Wilson Reagan, born February 6, 1911, served the United States as the 40th president from 1981 to 1989. Reagan was the first and only movie actor elected to office. During his two-terms in office, Reagan had many accomplishments; cutting taxes, strengthened and increased national defense spending, and through foreign policy pursued “peace through strength.” (Freidel & Sidey, 2006). The primary strength Reagan possessed in office was his oratory skills, in which he was dubbed “The Great Communicator”. The presidency of Ronald Reagan corresponded with a “long period of dramatic economic growth and the beginning of a momentous change in international relations.” (Brinkley, 2002). Through legislation, Reagan stimulated the economic growth, curbed inflation, and increased U.S. employment. By cutting taxes and Government expenditures Reagan overhauled the income tax code. By which, he removed many deductions and made exempt millions of low-income people. As the end of his term neared, our nation enjoyed “its longest recorded period of peacetime prosperity without recession or depression.” (Freidel & Sidey, 2006). Another achievement of Reagan was his plan, Supply Side Economics. In a plan, he felt in order to improve the economy, the industries needed to be built up through “entrepreneurial skills” and the corporate wealth would “trickle down to the people.” (The 40th US President - Ronald Reagan). Raised in the small town of Dixon, Illinois, his parents Jack...

Words: 1520 - Pages: 7

Free Essay

Saghxfdh

...EMAIL ADD/CONTACT NO. OFFICE OF THE PRESIDENT DR. FELIXBERTO U. BUSTOS, JR.- President fubustos@nhmfc.gov.ph ATTY. MARIA CHRISTINA L. LAIG- Corporate Executive Officer II mclaig@nhmfc.gov.ph Tel. # 812-6577, Telefax 892-5146 AIREEN B. OGRIMEN- Corporate Executive Officer I aogrimen@nhmfc.gov.ph Tel. # 812-6577, Telefax 892-5146 Risk Management Department (Functional Structure) PAZ DIVINA A. CABALLERO pdcaballero@nhmfc.gov.ph Officer In-Charge Loc. 390 Public Assistance & Information Office ICONN MEL D. CAYABYAB Officer In-Charge iconncayabyab@gmail.com Tel. # 892-5243 Corporate Planning Division JAENA V. MALLARI Officer In-Charge jmallari@nhmfc.gov.ph Tel. # 893-0157 Strategic Relations Management Department Financial Institution Division MA. CECILIA PURIFICACION Officer In-Charge mpurificacion@nhmfc.gov.ph Loc. 284 Developers Division RODEL LEOCARIO Officer In-Charge rleocario@nhmfc.gov.ph Loc. 284 Internal Audit Department EDITHA O. STA. INES Officer In-Charge OFFICE OF THE CORPORATE SECRETARY ATTY. SIEGFRID ERIC G. LAPASARAN- Vice President atty.sieg@gmail.com Tel. # 892-4550 ATTY. DANTE M. PATAPAT- Attorney V dan.nhmfc@gmail.com Tel. # 892-5152 AIREEN B. OGRIMEN- Corporate Executive Officer I aogrimen@nhmfc.gov.ph Tel. # 812-6577, Telefax 892-5146 estaines@nhmfc.gov.ph Tel. # 893-9821 OFFICE OF THE EXECUTIVE VICE PRESIDENT LIVIA ALICIA R. RAMOS- EXECUTIVE VICE PRESIDENT larramos@nhmfc.gov.ph Telefax 817-5997 ...

Words: 987 - Pages: 4

Premium Essay

Bsop 206

...Wisner, president of Southwestern University, had reached a decision to expand the capacity at its on-campus stadium. * This integrated study runs throughout the text. Other issues facing Southwestern’s football expansion include (B) forecasting game attendance (Chapter 4); (C) quality of facilities (Chapter 6); (D) break-even analysis for food services (Supplement 7 Web site); (E) location of the new stadium (Chapter 8 Web site); (F) inventory planning of football programs (Chapter 12 Web site); and (G) scheduling of campus security officers/staff for game days (Chapter 13). Adding thousands of seats, including dozens of luxury skyboxes, would not please everyone. The influential Pitterno had argued the need for a first-class stadium, one with built-in dormitory rooms for his players and a palatial office appropriate for the coach of a future NCAA champion team. But the decision was made, and everyone, including the coach, would learn to live with it. TABLE 3.6 Southwestern University Project Time Estimates (days) ________________________________________ Activity Description Predecessor(s) Optimistic Most Likely Pessimistic Crash Cost/Day A Bonding, insurance, tax structuring — 20 30 40 $1,500 B Foundation, concrete footings for boxes A 20 65 80 3,500 C Upgrading skybox stadium seating A 50 60 100 4,000 D Upgrading walkways, stairwells, elevators C 30 50 100 1,900 E Interior wiring, lathes B 25 30 35 9,500 F Inspection approvals E 0.1 0.1 0.1 0 G Plumbing D, F 25...

Words: 937 - Pages: 4

Premium Essay

Latin America Monitor

...IMPORTANT NOTICE: The information in this PDF file is subject to Business Monitor International’s full copyright and entitlements as defined and protected by international law. The contents of the file are for the sole use of the addressee. All content in this file is owned and operated by Business Monitor International, and the copying or distribution of this file, internally or externally, is strictly prohibited without the prior written permission and consent of Business Monitor International Ltd. If you wish to distribute the file, please email the Subscriptions Department at subs@businessmonitor.com, providing details of your subscription and the number of recipients you wish to forward or distribute this information to. DISCLAIMER All information contained in this publication has been researched and compiled from sources believed to be accurate and reliable at the time of publishing. However, in view of the natural scope for human and/or mechanical error, either at source or during production, Business Monitor International accepts no liability whatsoever for any loss or damage resulting from errors, inaccuracies or omissions affecting any part of the publication. All information is provided without warranty, and Business Monitor International makes no representation of warranty of any kind as to the accuracy or completeness of any information hereto contained. ISSN 1474-5615 Vol 29 Issue 3 March 2012 Andean Business Monitor International’s...

Words: 8831 - Pages: 36

Free Essay

Fiscal Policy

...fiscal policy fits into the model of Brooklyn, carries more than 300,000 cars short-run fluctuations we developed in each day. Chapter 10. We’ll see how deliberate In Japan, stories like this are common. During the 1990s the Japanese government What you will learn in this chapter: changes in government spending and tax policy affect real GDP. We’ll also see how ® What fiscal policy is and why it is an important tool in managing economic fluctuations ® Which policies constitute an expansionary fiscal policy and which constitute a contractionary fiscal policy ® Why fiscal policy has a multiplier effect and how this effect is influenced by automatic stabilizers ® How to measure the government budget balance and how it is affected by economic fluctuations ® Why a large public debt may be a cause for concern ® Why implicit liabilities of the government are also a cause for concern spent around $1.4 trillion on...

Words: 15653 - Pages: 63

Premium Essay

Week 4 Hrm531

...taken a giant step in achieving domestic market dominance in the sanitation industry. The Leadership Team consists of: David Spencer, President and CEO Sally Lindley, CEO of EnviroTech, Inc. Division Janet Durham, Vice President of Human Resources Tom Jennings, Vice President of Marketing Sam Waters, Chief of Compliance InterClean, Inc. is committed to providing employees with every opportunity for a successful career and continued development. Communication is at the core of career success and development. Communication begins at the New Sales Employee Orientation. Orientation items: • Background and history of InterClean, Inc. • Open Door Communication Commitment – feedback to the Team and from the Team is essential. • Successful Sales Technics - Examples modeled from sales team. Presentations have developed by current sales team. • Pairing with tenured sales team member for 90 day mentorship with job shadowing. • Review of Sales Goals and Objectives described in attached Performance Appraisal. o Development and delivery of full service/solution options to new and existing customers o Submission of Customer Satisfaction Survey’s to new and existing customers o Return of Customer Satisfaction Survey’s o Make daily calls to potential new...

Words: 1150 - Pages: 5

Premium Essay

Management of Financial Resources

...* Budget making process. Midterm budget framework. Budget Defined * A budget (from old French  bougette, purse) is a financial plan and a list of all planned expenses and revenues.  * A government budget is a legal document that is often passed by the legislature, and approved by the chief executive-or president. * The two basic elements: Revenues and Expenses. * Revenues are derived primarily from taxes and non-tax revenue. * Government expenses include spending on current goods and services, which economists call government consumption ; government investment expenditures such as infrastructure investment or research expenditure; and transfer payments like unemployment or retirement benefits, Social Safety nets Basis of Budget * Budgets have an economic, political and technical basis. * Unlike a pure economic budget, they are not entirely designed to allocate scarce resources for the best economic use. * They also have a political basis wherein different interests push and pull in an attempt to obtain benefits and avoid burdens. * The technical element is the forecast of the likely levels of revenues and expenses Budget Cycle * Budget Preparation: The first phase of the budget cycle involves preparation by the departments/agencies, ministries and finally ministry of Finance * Legislative Approval: Typically, the legislature has the power to approve or reject a proposed budget. They review it and vote. If approved, it moves...

Words: 6348 - Pages: 26

Free Essay

Australian Education

...consultation process 64 Notes 65 Tables Table 1: Gross expenditure on research and experimental development by sector, 2008–09 38 Table 2: Expenditure on research and development as a proportion of GDP, Australia and the OECD, 2008 38 Figures Figure 1: Increase in low SES domestic students in higher education, 1992 to 2011 15 Figure 2: Australia’s benefits from research 37 Figure 3: Commonwealth per student funding, 1989 to 2010 55 Figure 4: Public investment in tertiary education as a percentage of GDP 55 Figure 5: Higher education revenue proportion by source 56 Figure 6: Productivity efficiency of tertiary education among OECD countries 60 A n a g e n da f o r A u s t r a l i a n h i g h e r e d u c at i o n 2 0 1 3 – 2 0 1 6 iii Universities Australia’s board and vice-chancellors of member universities Universities Australia Board of Directors Vice-chancellors of...

Words: 24217 - Pages: 97

Premium Essay

Korb Vs Raytheon Case Study

...Korb v. Raytheon, 707 F.Supp. 63 (D.Mass. 1989) In this case Lawrence J. Korb was terminated from his position as vice president for Washington operations of Raytheon Corporation simply because he expressed views, publicly is direct conflict with the corporation’s economic interest. Korb was denied his claim for wrongful discharge and for a violation of the State Civil Rights Act (LAWRENCE J. KORB vs. RAYTHEON CORPORATION. (n.d.). Korb had been with the United States Department of Defense for about four years, were he served as assistant secretary of defense for manpower, installations, and logistics. Korb later left the government and joined Raytheon Corporation as vice president in charge. Korb spoke at the company’s annual alternative defense budget conference, in which he said some things that many people in the Department of Defense did not like nor approve of (LAWRENCE J. KORB vs. RAYTHEON CORPORATION. (n.d.). After being told his job was in jeopardy, due to his recent sayings, he wrote a letter to the editor of the...

Words: 1046 - Pages: 5

Free Essay

Ukraine, Belarus and Moldova

...i s s u e osw Commentary 7 9 | 2 8 . 0 5 . 2 0 1 2 | C e n t r e f o r e a s t e r n s t u d i e s Tadeusz Iwański The countries of Eastern European and China have been increasingly interested in deepening bilateral contacts over the past few years. In the case of Ukraine, Belarus and Moldova this has been caused by the bad economic situation which was in part caused by the consequences of the global economic crisis of 2008 and the desire to establish closer political relations with a country whose significance on the international arena is continually growing. Each of these countries has different expectations regarding the scale and the nature of co-operation with China. Chisinau wishes only to boost trade, whereas in Minsk and Kyiv, Beijing is also presented as a strategic partner whose investments may not only help the indebted economies recover but also strengthen the position of these countries in their dealings with the EU, and especially with Russia. Beijing sees co-operation with these countries in differently, and its offer is much more modest than Belarus and Ukraine are expecting. Eastern Europe is one of the last parts of the world with which China is activating its co-operation. This is not a priority region for Beijing. China wants to derive economic benefits and to diversify the markets on which it invests its financial surplus, and it does not intend to extend its political dialogue with Ukraine, Belarus and Moldova beyond the framework which determines...

Words: 4560 - Pages: 19

Premium Essay

South

...South Korea Business Forecast Report Executive Summary You have downloaded a PDF of BMI's latest views on the market, summarising the key findings that are assessed in detail in the new report, as well as the full report Table of Contents. Find out more about this report by contacting one of our experts on +44 (0)20 7246 5170 For more information, please contact us at: enquiry@businessmonitor.com +44 (0)20 7246 5170 South Korea Business Forecast Report Table of contents Executive Summary Core Views Key Risks To Outlook Published Date: 01 Apr 2014 5 5 5 7 7 7 8 8 8 9 9 11 11 11 12 12 12 14 14 14 15 15 16 17 south korea Q1 2014 17 17 21 21 21 21 25 25 25 26 26 26 27 28 29 29 30 Chapter 1: Political Outlook SWOT Analysis BMI Political Risk Ratings Domestic Politics Key Themes In 2014 Table: Political Overview Long-Term Political Outlook Constitutional Reform To Improve Governance- Chapter 2: Economic Outlook SWOT Analysis BMI Economic Risk Ratings Economic Activity Staying Cautious In 2014 Despite Upside Growth Surprise Table: ECONOMIC ACTIVITY Fiscal Policy Growing Corporate Leverage Posing Increasing Risk TABLE: FISCAL POLICY Monetary Policy BoK To Keep Policy Neutral Till End 2014 TABLE: MONETARY POLICY Balance of Payments south korea Q1 2014 KRW: Further Strength Capped Despite Improving Fundamentals TABLE: CURRENT ACCOUNT Chapter 3: 10-Year Forecast The South Korean Economy to 2022 Robust Growth To 2023 TABLE: Long-Term Macroeconomic...

Words: 1373 - Pages: 6

Premium Essay

The Super Project

...Finance MBA − Cases in Corporate Finance The Super Project (HBS) Instructor: Pål E. Korsvold BI Norwegian School of Management McGraw-Hill/Irwin abc McGraw−Hill Primis ISBN: 0−390−68861−4 Text: Harvard Business School Negotiation Cases This book was printed on recycled paper. Finance http://www.mhhe.com/primis/online/ Copyright ©2006 by The McGraw−Hill Companies, Inc. All rights reserved. Printed in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without prior written permission of the publisher. This McGraw−Hill Primis text may include materials submitted to McGraw−Hill for publication by the instructor of this course. The instructor is solely responsible for the editorial content of such materials. 111 FINAGEN ISBN: 0−390−68861−4 Finance Contents Harvard Business School Negotiation Cases Super Project 1 1 Case iii Harvard Business School Negotiation Cases The Super Project Case © The McGraw−Hill Companies, 2005 1 9-112-034 REV: MAY 27, 2004 The Super Project In March 1967, Crosby Sanberg, manager-financial analysis at General Foods Corporation, told a casewriter, “What I learned about incremental analysis at the Business School doesn’t always work.” He was convinced that under some circumstances sunk costs were relevant to capital...

Words: 7275 - Pages: 30

Premium Essay

Marketing

...to life and property by addressing the root causes of vulnerabilities to disasters, strengthening the country's institutional capacity for disaster risk reduction and management and building the resilience of local communities to disasters including climate change impacts; (b) Adhere to and adopt the universal norms, principles and standards of humanitarian assistance and the global effort on risk reduction as concrete expression of the country's commitment to overcome human sufferings due to recurring disasters; (c) Incorporate internationally accepted principles of disaster risk management in the creation and implementation of national, regional and local sustainable development and poverty reduction strategies, policies, plans and budgets; (d) Adopt a disaster risk reduction and management approach that is holistic, comprehensive, integrated, and proactive in lessening the socioeconomic and environmental impacts of disasters including climate change, and promote the involvement and participation of all sectors and all stakeholders concerned, at all levels, especially the local community; (e)...

Words: 9149 - Pages: 37

Free Essay

Cool

...lesser of two evils 9 The problems grow worse 9 Anatomy of a tragedy 10 Why wasn't the design fixed? 11 Why wasn't erosion seen as a danger sign? 11 Operational and then what? 12 Why no second sources? 12 How did NASA and Thiokol view the odds? 12 What role did NASA's safety office play? 13 Was NASA or Thiokol pressured to launch? 14 Why didn't they talk to each other? 14 How about NASA's past success? 15 What lessons have been learned? 15 Defining terms 16 Figures Figure 1: The Launch Decision Chain 17 Figure 2: Anatomy Of A Booster Field Joint 18 Figure 3: Joint Rotation 18 Figure 4: Titan Joints vs. Shuttle Booster Joints 19 Figure 5: Joint Putty 19 Figure 6: O-Ring Distress 20 Figure 7: Joint Distress vs. Temperature At Launch 20 Figure 8: 7/31/85 Memo, Boisjoly 21 Figure 9: 10/1/85 Memo, Ebeling 22 Figure 10: 10/1/85 Memo, Stein 24 Figure 11: 10/4/85 Activity Report, Boisjoly 25 Instructions On the first day of the workshop, we will discuss the management system failures associated with the Space Shuttle Challenger explosion. Please read the attached article[?],[?] before the workshop and be prepared to discuss the study questions listed below. Study Questions | |Media reports at the time typically implicated individual managers within the launch decision chain as single points of failure. | | |Others have described Challenger as a...

Words: 11483 - Pages: 46