Next week, we’ll have a test.
At this moment:
The CBO is breaking the President’s functional budget, e.g. 050 National Defense, 150 International Affairs, etc. into thirteen appropriation categories, which it will give to the appropriations committees and subcommittees, which work on the discretionary budget.
The Budget committees have just finished assessing the budget, along partisan lines.
Final budget will be close to 3.0 trillion requested by President.
Characteristics of Capital Projects — bridges, dams, highways, libraries
- Long Life
- Permanent
- Depreciable
- Usually expensive
- Lend themselves to quantitative assessments
- Physical assets.
Can be funded in a variety of ways — direct taxes, bonds, notes and mortgages, and assorted variations and combinations of these things.
Costs can be divided into direct and indirect costs, and into tangible and intangible costs. These two sets overlap, creating four general categories.