What are the three different budget philosophies

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1. Describe the roles of the President and Congress in the federal budget process. What are the problems with the federal budget process? Why haven't we had a budget for 5 years? Any potential reforms? What are the 3 different budget philosophies?

2. Explain Debt to GDP. Why did it rise in WWII fall until the 1980s? Rise in the 1980s? Fall in the 1990s? Rise in the 2000s? Is the US debt/GDP ratio high relative to other countries? Is the US debt interest sustainable? Who bears the debt burden?

Reference no: EM131194404

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