By: Adrienne Chavis
Professor: Frank Pidgeon
PA 581- Government Budgeting and Finance
This paper discusses the financial complexities of the U.S. Government and its Department of Education. The purpose of this paper is to analyze the funding level of the U.S. Government and its Department of Education. It also reviews several trends that are identified at 2009 actual, 2010 and 2011 amounts for outlays and receipts, and relationship to the Gross Domestic Product (GDP). It further considers key summary of the budget message of the President of the United States as it is related to issues and economic situations during the financial year 2009 (Office of Management and Budget, 2010). This paper also discusses various other budget documents that follow a budget message and their related issues and initiatives. In addition, this paper also considers some major funding items, the mission statement and key strategic goals. Budget Message of the President
Education is considered as a priority in the budget message of the President of United States. The President sated that the country has made an efficient growth in the economy and reduced the federal deficit by $250 billion since 2004. The government used a formula to achieve a balanced budget to create conditions for economic growth, keep taxes low, and expand taxpayer dollars advisably or not at all (Bush, 2008). The country has been awarded for hard work and innovation throughout the world. In addition, the country has made an aggressive growth in the economy and contributed to creating a flexible and dynamic economy. With the dynamic economy, people can easily pursue their dreams by turning their ideas into enterprises. Adversely, there are several issues faced by the American economy could become problems as we look forward. These issues include recession, terrorist attacks, corporate scandals, wars, and devastating natural disasters. These issues were raised by Americans as they also struggle with the economic downturn. A successful budget requires effective and strong economic conditions within the country (Bush, 2008). In addition to this, Americans are also concerned with their capacity to meet the expense of healthcare coverage, to pay rising energy bills and to meet monthly mortgage payments. This economic pressure can be buffered for Americans by providing more affordable and accessible healthcare services, economical resources, and more affordable housing and access to home ownership. To further exacerbate the economic crises in the United States; in 2009 the country was in a deep recession that affected more than three and half million jobs. These jobs were lost over the last 13 months. Budgets are proposed to present some new programs and to eliminate initiatives (Office of Management and Budget, 2009). In addition, 8.8 million Americans settled for part time jobs, though they wanted or needed full time jobs. Capital market was also frozen and that created problems in the growth of businesses and citizens’ ability to borrow money to afford a home, car or college education for their kids. Other Budget Documents
Other Budget Documents analyzed include a budget message that precedes the departmental budgets. These budget documents include “rescuing the economy”, “reviving job creation and laying a new foundation for economic growth” and “restoring responsibility”. These documents are summarized as follow: Rescuing the Economy: This document discusses several issues and initiatives related to health insurance reform, financial stabilization, housing, reviving the financial system and critical sectors of the economy. The rising cost of health care is one of the major challenges faced by the country. For financial stabilization, administration had undertaken a widespread, powerful, and continual committed financial system (Whitehouse, 2009). It also discusses the problems of many households to finance the purchase...