Omb vs Cbo

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OMB vs. CBO POLS210: American Government I, Essay November 25, 2014 The role of the Office of Management and Budget (OMB) and Congressional Budget Office (CBO) are vastly different but yet overlap in some areas. The primary mission of the OMB is to assist the President in overseeing the preparation of his budget and to manage its administration by the Executive Branch agencies. The CBO’s mission is to provide Congress with objective, timely, non-partisan analyses needed for economic and budget decisions with the information and estimates required for congressional budget process. The OMB is the largest element of the Executive Office of the President. Their job is to report directly to the President and assist in a wide variety of executive departments and agencies across the Federal Government to execute the priorities of the President. The OMB carries out its mission through five critical processes that are necessary to the President’s ability to plan and execute his priorities across the Executive branch. The first priority is budget development and execution which is a government wide process that is managed by the Executive Office of the President in which he executes decisions, policies, and actions in all areas. Priority two is management of agency performance, Federal procurement, financial management as well as IT information. They also review all significant Federal regulations by executive agencies, ensure there is consistency of agency legislative views and proposals and carry out Executive Orders and Presidential Memoranda to agency heads and officials. The CBO was created by the Congressional Budget and Impoundment Control Act of 1974. It was created to modify the role of Congress in the federal budgetary process, as well as creating a standing budget committee in both the House and the Senate. The CBO prepares analyses and estimates
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