Locked and Loaded: Why the Election Won’t Shake Up Government Spending
When analyzing the long-term trajectory of federal spending, it’s important to understand the mechanics behind how agency budgets are formulated, approved, and effectively locked in for extended periods. Government budgets are not simply re-drawn with each administration; they are part of a complex, multi-year process that involves Congress, federal agencies, and the White House negotiating and codifying spending levels far […]