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Article: Federal Budget
- Article from:
- West's Encyclopedia of American Law
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FEDERAL BUDGET
An annual effort to balance federal spending in such areas as forestry, education, space technology, and the national defense, with revenue, which the United States collects largely through federal taxes.
Of the three branches of the U.S. government, Congress has the power to determine federal spending, pursuant to Article I, Section 9, of the U.S. Constitution, which states, "No money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law." The drafters of the Constitution sought to secure the federal spending power with legislators rather than the president, to keep separate the powers of purse and sword. In
The Federalist
No. 58, james ...