What the OMB Is: The Executive Office of Management and Budget, (OMB) prepares the budget for the President, handles the press and manages the budget throughout the year. It has different divisions that deal
with the President, Congress and each of the separate agencies.
What the OMB Does: The OMB works with the President, Congress and government agencies to establish the Federal budget, negotiate it through Congress, and monitor Federal agencies’ performance to plan. It is responsible
for managing the entire budget process.
OMB’s primary focus is to make sure the budget executes the President’s vision for that year. In this role, it has a lot of authority in setting policy -- if a program isn’t funded, it really isn’t viable.
How the OMB Affects the U.S. Economy: The OMB affects the economy in two ways. First, it stimulates the economy through deficit spending. Government
spending creates jobs both directly and through government contracts. Second, it increases the vulnerability of the U.S.
economy to foreign countries by increasing our national debt each year.
How the OMB Affects You: The OMB affects you by either increasing your taxes or increasing the national debt through deficit
spending. It also affects you by funding government agencies and policies. Find out more about
what is in this year’s budget.
