Federal Budget Deficits: What's Wrong with the Congressional Budget Process
Pub Date: November 01, 1992
Product Format: Essay
Availability: In stock.
In Federal Budget Deficits: Whats Wrong With the Congressional Budget Process, author John F. Cogan argues that the institutional procedures used by Congress to adopt the budget have contributed to the deficit problem. He claims that because Congress employs thirty-two committees to decide spending levels, political accountability for total spending is diminished. He supports this therory by showing that during times of centralized control over the budget, deficits have been rare or nonexistent. Cogan's study contends that decentralization of the budget process was exacerbated by the creation in the 1930s of trust funds, entitlement programs and the use of borrowing authorities. The author concludes by arguing that true budgetary reform is not possible without re-consolidating congressional spending decisions.