federal budgeting

Federal budgeting is the process by which the government plans its spending and revenue for a fiscal year. It involves estimating income from taxes and other sources and deciding how much money to allocate to various programs like defense, education, healthcare, and infrastructure. The goal is to balance the available funds with national priorities, ensuring essential services are funded while managing the national debt. The process typically includes proposal, review, and approval by Congress, allowing for oversight and adjustments before funds are allocated and spent.