The Pros And Cons Of The European Budget

The European Union is a group of European countries who combined together as allies after WWII for trade and peace reasons. It was established so countries in Europe would not create conflicts with each other to prevent the disaster of the two World Wars. They also signed trade deals to secure the countries in the EU would be financially stable and not go into depression and poverty like most countries did in WWII. Each country in the EU has to provide the EU with money to operate. In return, not only will they see trade with European countries, but the EU budgets will help redevelopment and regeneration of poor areas, seen in

Budget preparation is a process with designated groups and individuals having defined responsibilities. According to Irene S. Rubin “ The public budget process mediates between organizations and individuals who want different things and determines who gets what out of the budget.”1The Government set up an annual budget that includes people perspectives, opinions , accountability and than determine how the budget will get divided based on protected interests. Moreover, Public budgeting determines how government spend money, provide necessary resources , and limit government expenditures to prevent overspending.

The federal budget is an annual plan created by the president of the United States that sets a certain amount of money to fund different federal expenses such as national defense, transportation, and income security, in fact; the federal expenses are divided into two categories, mandatory and discretionary spending. Mandatory spending is any expenditure that is required by legislation in which Medicare and Social Security are the main funded programs. In addition, discretionary spending is spending not mandatory but decided by congress based on appropriations in which it funds education, agriculture,and administration of justice, just to name a few. The federal budget is created using the constitution’s preamble as a guideline in order for

The governmental system which embodies the European Union is currently both ambiguous and undemocratic. However, in order to explore alternative strategies of improvement, it is firstly crucial to identify the root of the deficit. One is then able to discuss contributing factors which affect the national parliaments lack of importance when creating legislation and strategies of review such as the subsidiary and proportionality tests.

School boards across the country have been struggling to fully fund art, music, and culture programs that without a doubt serve to round out the education of the country's youth. States such as California have faced major budget cuts. In 2008, California projected a shortcoming of $42 billion. (California Schools Girding for cuts under fiscal Plan) During a signing ceremony the governor of California, Arnold Schwarzenegger stated, "During a down economy and facing an historic budget deficit we have to make some very difficult decisions..." He later warned local school districts that the cuts will impact the students (I’ll be back). California is not the only state who has faced budget cuts. When put up against struggling budgets brought

The federal budget is designed every year by undergoing an arduous process to be ratified as a law. Under the regulations of the Budget and Accounting Act of 1921, the president first sends a federal budget request to the United States Congress reflecting the needs of federal agencies to work properly in the coming year. A debate in Congress ensues in response to the President’s budget request and eventually a budget resolution is put together by committees from both parties in the House of Representatives in the Senate which is then turned into actual spending bills called “appropriations bills”. A unique conference committee comes together to settle appropriations disputes between the House of Representatives and the Senate, potentially leading to the president’s signing of a veto of the proposed budget into law, which the president (by law) is

The federal budget is split into three parts the mandatory spending, discretionary spending, and interest on debt. It may seem like the interest on debt would need the biggest part of the budget because the U.S. is trillions of dollars in debt, but this part of the budget actually takes up the least amount of money. The mandatory and discretionary take up a little over 90% of the whole budget paying for all of the services the government provides citizens.

Some say you have to spend a dollar to make a dollar, when it’s our government its called deficit spending. Deficit spending is the result in the government spending more during a period of time then they make back in revenue causing a debt. This type of spending is normally during an economic recession and is justified in order to give the economy a jump-start in reviving. The validation of this is to stop the economy from losing more money as individuals become unemployed resulting in lose of taxable revenue. This drastic strategy has its advantages and disadvantages for both long term and short-term economic effects. “There are those that argue that government borrowing and spending would create jobs and induce economic growth which would lead us out of the recession. Conservative economists on the other hand argue that government spending causes high interest rates which in turn curbs investment and economic growth.” (Hassan and Nassar, 2015) While it may help create more jobs, wages and programs it can also cause taxes and interest rates to rise. If a consumer cant afford the inflated economy then the new job starts to seem obsolete.

When a government’s spending exceeds its revenues causing or deepening a deficit it is called deficit spending. Deficit spending is only one of numerous tools used to help manage the economy. Deficit spending is presumed to stimulate consumer demand by helping the consumer to obtain more money to spend, in turn, the demand of product will rise. There are advantages and disadvantages to deficit spending that we will discuss further below.

The Federal Budget is the yearly plan for how the U.S. government will spend the money it takes in from taxes and borrowing. After analyzing it goes to only 5 different groups while the money is allocated to smaller groups. In each of the three budget clusters, the U.S. Government should make adjustments in the way it is distributing money. These adjustments involve changes in the Big 5, the Middle 5, and the Little Guys.

The first step to creating the federal government budget is the President submits a budget request to Congress. The executive branch gets requests from the federal agencies saying that different things and projects need money or that they don’t need money. So basically they discuss what project is more important. Yet these are all only proposals so they can either be accepted or denied depending on what the people think the country needs.

Wisconsin has a regular budget. That means Wisconsin state budget regularly contains data about how they will spend the money for a two-year period, from July of an odd numbered year through June of the next odd-numbered year. The current budget period runs from July 2015 through June 2017, and is sometimes referred to as the 2015-17 budget. In Wisconsin, the legislature creates most of the choices about what should be contained in the budget, with considerable input from the governor. The legislature and governor, not to mention the two political parties in the legislature, often have different priorities in terms of how to raise and spend money. That can made contentious negotiations before the budget is finally enacted. The state budget

1. Despite rises in settlement costs, cities consistently increase the budget and number of employees in their police departments.

The European Union (EU) was established in order to prevent the horrors of modern warfare, experienced by most of Europe during the World Wars of the 20th century, from ever ensuing again, by aiming to create an environment of trust with the countries of Europe cooperating in areas such as commerce, research and trade (Adams, 2001). The EU has evolved into an economic, trade, political and monetary alliance between twenty-eight European Member States. While not all Member States are in monetary union (i.e. share the currency of the euro), those that are form the ‘Euro-zone’ (Dinan, 2006). The EU can pass a number of types of legislation, with a regulation, act, or law, being the most powerful. Its ‘tricameral’ (European Union, 2007)

The European Union is a political community constituted as an international organization whose aim is to promote integration and a common government of the European people and countries. According to the Article 3 of the European Union Treaty, Union’s aim is to promote peace, its values and the well-being of its peoples. It is based on the values of freedom, democracy, equality, law enforcement and respect for human rights and dignity.