1.A: Balanced Budget
Implement the five-year budget agreement to reach balance by 2002. Follow up in each succeeding year to obtain enactment of
tax, appropriations, and mandatory spending program policies consistent with the balanced budget agreement.
Other Information:
Relationship to Annual Performance Goals: The ultimate achievement of a balanced budget is not controlled by OMB. However,
OMB's contributions in developing policy to affect this outcome can be measured. In particular, OMB's role in achieving enactment
of a budget that conforms to the agreement can be assessed. In addition, the President's Budget contains recommendations for
reforming or, where necessary, eliminating less effective or lower priority programs; and for shifts in resource allocations
or policy changes to meet Presidential priorities more effectively within a balanced budget framework. Goals based on these
recommendations will be included in the OMB annual performance plan. Means and Strategies: OMB will work with the Congress
to follow up on the Balanced Budget Act and seek to assure that balance is achieved in 2002 and sustained thereafter. In particular,
OMB will follow up to ensure that: (1) the discretionary caps and PAYGO limits are not breached; and (2) within those limits,
the President's priorities and policies are protected to the maximum extent possible. OMB's work will include analyses of
the effects of particular tax, appropriation, and mandatory spending policies, continued enforcement of sound budget concepts,
and cross-cutting efforts to enhance fiscal discipline. External Factors: Achievement of a balanced budget by 2002 is premised
on spending and revenue projections that are based on economic assumptions for the next five years. A significant change in
economic conditions could affect the ability to achieve this objective. In addition, Congressional cooperation, through the
enactment of revenue and spending measures that achieve balance by 2002, is essential.
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