PUBLIC FINANCE: ARTICLES REVIEW

Public Finance: Articles Review

Public Finance: Articles Review

Article 1:

Under the Budget and Accounting Act of 1921, the president is responsible for organizing the government budget. In fact, the allowance is arranged by the agency of administration and allowance (established in 1970), based on demands from the heads of all government bureaus and bureaus and advice from the Board of Governors of the government book System, the assembly of Economic Advisers, and the Treasury Department. The leader submits a budget note to assembly in January. Under the assemblyional allowance proceed of 1974; the assembly establishes, by concurrent tenacity, targets for general expenditures and very wide functional classes, as well as goals for incomes, the allowance deficit, and the public debt. The assemblyional Budget agency monitors the activities of assembly on one-by-one appropriations accounts with reference to those targets. The leader exercises fiscal control over boss bureaus, which issue periodic accounts subject to presidential perusal. Congress physical exercises command through the comptroller general, head of the General Accounting Office, who sees to it that all funds have been expended and accounted for according to legislative intent. The fiscal year sprints from 1 October to 30 September.

Article 2:

American cities are products of financial capital. Government authorities build bridges, sewers, convention centers, and affordable housing by issuing bonds. Public finances enable cities and towns to operate schools, police forces, water and sewer systems, and other services. Private financiers also shape urbanization, often in partnership with government, underwriting downtown skyscrapers, suburban malls, home mortgages, and gas and electric utilities. Urban financial sectors thus include a variety of private, public, and not-for-profit banking, insurance, and brokerage firms and institutions. Some historians argue that finance is the leading sector in the American economy, a prerequisite to the growth of cities and the markets ...