President’s Budget

The President’s Budget shall recommend levels of outlays and receipts which shall be consistent with the short-term economic goals of section 1022(a)(2)(A) of this title. The President’s Budget shall provide five-year projections of outlays and receipts consistent with the medium-term goals of section 1022a(b) of this title. The principal elements in the President’s Budget shall be set forth briefly in each Economic Report, toward the end of making clear the relationship between the President’s Budget and the goals and policies set forth in such Economic Report. Both the expenditure and revenue elements of the President’s Budget shall be developed to promote the purposes, policies, and goals of the Full Employment and Balanced Growth Act of 1978 [15 U.S.C. 3101 et seq.]. The size of the President’s expenditure and revenue proposals, and the relationships between such proposals, shall be determined in a manner which gives consideration to the needs of the economy and the people in the priority areas set forth in section 1022c of this title, and the relationship between the President’s expenditure and revenue proposals shall be guided accordingly.