Number: RL32264
Title: The Budget for Fiscal Year 2005
Authors: Philip D. Winters, Government and Finance Division 
Abstract: Presidents generally submit their budget proposals for the upcoming fiscal year (FY) early in each calendar year. The Bush Administration released its FY2005 budget (The Budget of the U.S. Government, Fiscal Year 2005) on February 2, 2004. The multiple volumes contained general and specific descriptions of the Administration's policy proposals and expectations for the budget for FY2005 through FY2009. It contained limited information on the revenue and mandatory spending changes after 2009, and a section on long-term fiscal issues facing the nation. The full set of budget documents (Budget, Appendix, Analytical Perspectives, Historical Tables, among several others) contains extensive and detailed budget information, including estimates of the budget without the proposed policy changes (current service baseline estimates), historical budget data, detailed budget authority, outlay and receipt data, selected analysis of specific budget related topics, and the Administration's economic forecast. In addition to its presentation of the Administration's proposals, the budget documents are an annual reference source for federal budget information, including enacted appropriations. The Administration's annual budget submission is followed by congressional action on the budget. This usually includes the annual budget resolution, appropriations, and, possibly, a reconciliation bill (or bills) as required by the budget resolution. Over the course of deliberation on the budget, the Administration often revises its original proposals as it interacts with Congress and as conditions change in the economy and the world.
Pages: 27
Date: December 12, 2005