[Part 1]
Great explanation of the federal budget and money-dispensing process (tweets 1 thru 10) and how POTUS sought to review and cut foreign aid, including to Ukraine, of billions of dollars just sitting in expired accounts (tweets 11 thru 18) and how the Dems used these actions as a trigger to start impeachment (tweets 19-26). Tweet 27 is a Watch the Wives reveal.
https://twitter.com/NicAtNigh/status/1191547819712286721Nick Fad@NicAtNigh
Nov 4
The power of the purse
“No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law
Thread 11/4/19 - Hands Off My Purse! Part 1
(Ukraine/USAID/Coup)
1)By the First Monday in February, the President sends a budget request to Congress that provides an assessment of the funding levels needed to implement federal policies for the upcoming fiscal year..
For example, the President may request $85 million for the operations of the Supreme Court for a fiscal year, which includes expenses for salary, building maintenance, and travel for the Associate Justices.
2)Once Congress receives the President’s assessment, The House of Representatives prepares the Congressional budget proposal. But under the current budget statute of 1974, both Chambers formulate budget proposals and combine the two to produce the final budget.
3)Next, the House and Senate budget committees establish the total amount needed to fund local and federal programs, projects, and activities for the fiscal year.
The Treasury then set aside the total amount that Congress has 'apportioned' for the fiscal year.
4)Once the overall budget is determined, the Appropriations Committees in the House and Senate subdivides the funds into 12 appropriations bills.
The 12 include the following, Department of Agriculture; Commerce, Justice, and Science; Dept of Defense; Dept of Energy and.....
.....Water; Financial Services and General Government; Homeland Security; Interior and Environment; Labor, HHS, and Education; Legislative Branch; Military Construction and VA; State and Foreign Operations; and the Department of HUD.
5)Then, the House and Senate subcommittees further divide the allocation to the activities, programs, and projects.
6)The law requires the Executive branch to spend funds allocated by Congress, but the President may propose cuts to wasteful programs through a process called rescission or cancellations of the discretionary budget.
Through the rescission process, the President can ask to cancel or reduce the funding to any federal program in the Executive branch.
7)The Office of Management & Budget serves the President. OMB prepares the federal budget, performs regulatory reviews, and distributes the funds allocated by Congress to the agencies and departments in the Executive branch.
8)Also, the Office of Management & Budget, together with the treasury, is to open accounts for all apportionments. This serves to record information on the amounts, transactions, and the period of availability of funds prescribed by law.
For instance, if Congress allocates $7 billion in spending to the USAID. First, the Treasury and the OMB open an account for the specific allocation. The Treasury deposits the funds in the account.
Second, OMB transfer the funds into an account established by the....
State Department. Third, the State Department moves that money into an account established by the USAID, and finally, the spending begins
The Agencies must record all transactions as they occur
[Go to part 2]