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Compare And Contrast The Office Of Management And Congressional Budget Office

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The United States is currently $18.2 Trillion in debt, a figure so absurd it’s hard to fathom. Does this national monetary crisis have anything to do with the Congressional Budget Office? Does the blame reflect on the Office of Management and Budget? Many American’s complain about the nation’s debt, but little have even heard of either of these two offices. So what are the roles and powers of these two offices? The Congressional Budget Office (CBO) acts as a financial planner to congress for our nations spending. The CBO is part of the legislative branch of government. The CBO aids congress by analyzing data to support the budget creation process. The Office of Management and Budget (OMB) is another entity with a similar responsibility. The OMB is part of the executive branch. The OMB’s main purpose is to advise the president on budget related matters. So what are the differences between these two offices? …show more content…

“The agency began operating on February 24, 1975, when Alice Rivlin was appointed its first Director.” (CBO, 2011). The CBO was formed out of conflicts between the executive and legislative branches in terms of budgeting. These budgetary conflicts peaked in 1974 before the implementation of the CBO. In contrast, the OMB is part of the executive branch. The OMB was originally called the Bureau of Budget, but was retitled in 1971. The simple definition is that the CBO works closely with congress, while the OMB is an aid to the

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