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    #16
    Division of Powers

    Constitutionally, it is the right and responsibility of Congress to be the steward of government finances, and not the Executive Branch. Congress thus has the "trump" card when it comes to the budget.

    However, nearly all the money spent is spent by the agencies headed by the Presidents' cabinet. So it has become a function of the Executive Branch to submit the annual budget to the Congress. Most of the money submitted by the Executive branch survives, unless some items rise to attention.

    Actually PAYING for the (mostly President's) budget becomes the problem of Congress, particularly the Ways and Means Committee. Congress adds more money to the budget based on their own wishes and special interests, and will not hesitate to add a provision or requirement to legislation especially if they know it is on track to becoming law.

    Thus you hear all the talk about the president having "line item veto" power, and this has popular appeal, especially when Congress adds a bunch of pork barrel stuff for the special interests. But it is unconstitutional, as it stands right now. The President, however, DOES have the power of line item veto to his own budget prior to submitting it to Congress.

    It is very typical for Presidents to blame Congress for these huge deficits, since this is constitutionally the province of Congress. However, none of these same presidents seem to ever submit a balanced budget. There's enough blame to go around.
    Last edited by Nashville; 09-30-2008, 11:08 AM.

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      #17
      Originally posted by taxea View Post
      This is all just a big "maybe". I choose to believe that the new prez can't make good on any "if elected I will" promises without the agreement of congress. I'll believe it when the law/s are passed and not concern myself or believe it until then.taxea
      Doesn't mean you won't get calls on it though. I discovered the "bush tax credit" because someone asked me about it and wanted to know why they hadn't gotten their check yet. Never mind the fact it hadn't even been sent to congress at that point...

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        #18
        Tax Cuts

        to David1980...I try to keep up on any laws that have passed. The stimulus payment is the pain in the butt. I refer my clients to the IRS and tell them that my only involvement is to be sure that their 2007 return gets filed before the extension deadline and beyond that I have no control over the issue.taxea
        Believe nothing you have not personally researched and verified.

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