Accounting – US Budget Questions

Who is minding the store: Congress or the President? Read the US Constitution and determine who has the ultimate authority over the US budget which has been running in deficits for years? Why have there been federal budget stalemates? Why was there a “sequestration” put in place that went into effect January 2013? Why do presidents have so much power in determining the final federal budget? In your opinion, how would you try to fix the federal budget stalemates that have occurred in the past few years?

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