Federal Budget

Question 1

The Treasury Department is relatively new.

Accepted Answer

False, it was created in 1789

Question 2

The Congressional Budget Office is responsible for nonpartisan budget analysis each year

Accepted Answer

True

Question 3

Power of the Purse belongs to the President.

Accepted Answer

False

Question 4

It wasn't until the 1940s that Congress tried to organize the budget process.

Accepted Answer

False, not until the 1970s

Question 5

The federal fiscal year begins January 20

Accepted Answer

False

Question 6

Earmarks are parts of the budget that give a particular state money.

Accepted Answer

True

Question 7

The US Constitution articulates a thorough process for the budget.

Accepted Answer

False

Question 8

It is illegal for interest groups to talk to Congress when a budget is being written.

Accepted Answer

False

Question 9

An authorizations bill allows spending over several years instead of an annual bill.

Accepted Answer

True

Question 10

The House & Senate both pass budget resolutions before writing appropriations bills.

Accepted Answer

True

Question 11

Who submits the budget request first?

Accepted Answer

President

Question 12

Prior to 1921, the feds had no process for developing a national budget.

Accepted Answer

True

Question 13

The Office of Management & Budget (OMB) serves as an accounting office & budgets depts.

Accepted Answer

True

Question 14

FDR & Lyndon B. Johnson created expansions that ballooned the federal budget.

Accepted Answer

True

Question 15

The President signs Senate & House appropriations bills to create a federal budget.

Accepted Answer

True

Question 16

Congress must adopt the President's budget proposal.

Accepted Answer

False

Question 17

The Office of Management and Budget, created by Congress, reports to the President.

Accepted Answer

True

Questions 17