On the day the president sent his fiscal year 2008 (FY 08) budget to the Congress, our government had no 2007 budget. The Congress will most likely pass a 2007 appropriations bill that will fund the government at 2006 levels with some exceptions. The question in Washington is whether the Congress, now under Democratic control, will be able to pass a budget prior to September 30, 2007. If the Congress does pass a budget (which consists of 11 appropriations bills that fund the various federal departments and independent agencies), will it generally conform to the president’s proposals or will it be subject to vetoes? Finally, will the Congress be able to maintain the fiscal discipline generally referred to as “pay/go.”
