OMB vs. CBO
The Office of Management and Budget or OMB, is a division that serves as an Executive Office of the President of the United States. It administers the United States federal budget and watches over the performance of federal agencies. The Congressional Budget office or CBO, is part of the legislative branch inside the United States government. It provides economic and budget information to congress. Both the Office Management and Budget and the Congressional Budget office have duties to the process and responsibilities of the United States budget.
First, The Office of Management and Budget mission is to serve the President. It is responsible for putting together the annual plan for budget. Pulling it all together with departments and agencies and then submitting them to congress. Congress screens these orders before they are placed before the president for signature ("OMB", 2010). Parts of the OMB duties include, the execution and development of budget, management oversight, coordination of federal regulations, legislative coordination and clearance, Presidential Memoranda and executive orders (Coyle, 2007). The OMB is responsible for…show more content… This information is required for the estimate of the Congressional budget process (COB, 2010). The CBO reports to congress with projections about the budget surplus or deficits. They propose to what effect these projections will have on the existing budget. Calculations on these proposed budgets are reported twice a year to the Senate and House Budget committees. The judgment of its analyses is based on a detailed understanding of the programs and tax code, relevant research, analysis of collected data, and consultation with outside experts. Following current law, the agencies prediction is used as a baseline budget and economic
