What Government Bodies Determine National Fiscal Policies?

Question

What Government Bodies Determine National Fiscal Policies?

3 Answers

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Answer 1

There are four government bodies that are involved in the national fiscal policies.

Department of Treasury

The Department of Treasury is the main body that will manage and design the fiscal policy. The treasury, as with any treasury, is in charge of the financial accounts of a business; in this case the government. The treasury knows what there is to spend, what needs to be spent and what money is coming in. They cannot be solely active though, as the government is based on a system of checks and balances. The treasury is also the body that makes certain to implement the new policies.

Office of management and budget

The office of management and budget, is the section of the government that will develop and analyze fiscal policy. They help the department of treasury conduct research regarding the needs of the US. This department provides enough information for the treasury to make a decision and then implement the new policies that are needed.

Office of the president

The office of the president has an input on the decision making regarding the fiscal policy. The president is meant to be the leader of the country making decisions on many topics in order to improve the situation we have in the US. The president can propose changes to the policy and also reject changes if he feels they do not comply with the current needs.

Government accountability

There is a government accountability office that will audit the fiscal policy. This body looks at the current policies and those being proposed. They will look for any issues occurring in the treasury that breaks the policies or in some way creates an issue. They are part of the checks and balances offered in the national fiscal policy design.

Answer 2

Department of Treasury-manages and constructs the fiscal policy. Implementation of fiscal policy
Office of Management and Budget- development and analysis of fiscal policy
Office of the President of the United States- Decision making of fiscal policy

Government Accountability Office-audits the fiscal policy

Answer 3

Describe the roles of the government bodies that determine national fiscal polices