Study Document
Government Budget Revolves Around Discretionary Term Paper
Pages:2 (641 words)
Subject:Government
Topic:Government Spending
Document Type:Term Paper
Document:#67361640
There may, for instance, exist various programs for relieving PTSD in veterans. The president may propose that the government should implement and fund an intervention. All would be assessed in order to choose that which is not only efficacious but also least costly. Occasionally, various programs may be mixed and their cost-effectiveness taken into account so that the result is as least costly as possible.
Incremental budgeting is another government budgetary tools that are similar to that which industries use. . Incremental budgeting bases the current budget on the previous year's budget, implementing only minor changes in the programs that are on the budget. With this approach, poorly performing programs receive cuts in spending and disruptive conflict and change in government spending is reduced.
Cost-benefit analysis is a tool used alike for business and government where the profit and advantage of projects are assessed over time to review whether they deliver.
Projects that are too costly and deliver minimal or null profit are terminated, whilst const-benefit analysis provides a tool that government and citizens can use to analyze the relative performance of the various government projects.
Government sets about its budgeting decisions in a methodical way where the benefits and costs of each program / project are enumerated and reviewed and future net benefits, since unknown, are discounted so that it will not interrupt with the present decision. The social rate of discount, i.e. The opportunity cost of funds invested by the government in a project, is selected. This reflects the rate at which savers and investors are willing to relinquish for consumption or investment to finance a government project.
Finally, toehr similar tools for maximum efficacy of budget allocation include weighting and disaggregating net benefits where net benefits are carefully assessed in order to help government chose projects that are the most efficient. Projects are ranked in order of importance, and possibility of inflation…
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