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Federal budget a mixed bag for state and local government: The presidents fiscal 2004 budget reduces or even cuts funding for many state and local government programs traditionally funded by the federal government. (Federal Focus).

Government Finance Review

| April 01, 2003 | DeSimone, Daniel C. | COPYRIGHT 2003 Government Finance Officers Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

A president's budget is not only a ledger of federal revenues and expenditures, but also a document of purpose--of political as well as fiscal design. Together with the State of the Union address, the president's budget proposal inaugurates each new session of Congress, outlines the administration's policy priorities, and heralds forthcoming policy debates. A budget proposal normally sails choppy seas toward enactment. President Bush's fiscal 2004 budget: however, will have to navigate through a perfect storm to win passage. This storm includes a looming war with Iraq, new threats of terrorism, a skittish domestic economy, a stagnant worldwide economy, insecure financial ...

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