What Events Lead To The Creation Of The CBO?

1) Where are these organizations in the federal government (not their geographical locations, where they are located in the national government please) 2 points.
CBO is a legislative agency that advises the Congress on general budget issues and forecasts of the value of new legislation tax cuts. The agency is primarily accountable to Congress, in particular, to budget committees. On the other hand, OMB is an executive agency, a subsidiary of the White House, which controls the activities of federal agencies and agencies. In the budget process, they work with agencies to formulate their budgets, which will be rolled over to the president's budget and presented to the congress. OMB also monitors the work of agencies and enforces executive policies. OMB is accountable to the President.
2) What are the the primary functions of the OMB and the CBO, and in addition, what events lead to the creation of the CBO? (8 points).
First, by accompanying the budget plan, we get the White House forecast - forecasts from the Office of Management and Budget (OMB). After some time, we get another set of forecasts from the Congressional Budget Office (CBO). The CBO report, which was published this morning, compares the president's budget with the current baseline - what CBO expects from the budget, whether all current legislation remains in force. At the same time, it can be shown that CBO assessments are also compared to estimates made by OMB. Inevitably, some of the ratings that come out of the White House are much more