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OFFICE OF MANAGEMENT AND BUDGET: An office within the Executive branch (specifically within the Office of the White House), that assists the President in various fiscal matters. Established in 1970, the Office of Management and Budget (OMB) is responsible for developing the President's annual budget request to Congress, managing the Executive Branch, and evaluating Federal government regulations. The OMB staff are appointed by the President, but unlike other appointments, they do not need Senate confirmation. The duty of preparing the fiscal budget, and what this means for fiscal policy, has made the director of the OMB one of the more influential economic positions in country, ranking just a notch below the Chairman of the Federal Reserve System's Board of Governors and the Chairman of the Council of Economic Advisors. The Congressional counterpart of the OMB is the Congressional Budget Office (CBO).
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CONGLOMERATE MERGER The consolidation of two or more separately-owned businesses, operating in separate industries, into a single firm. This is one of three types of mergers. The other two are horizontal merger--two competing firms in the same industry that sell the same products--and vertical merger--two firms in different stages of the production of one good, such that the output of one business is the input of the other.
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Planning On SOCIAL SECURITY?This may be the greatest day of my life. The musical group to top all musical groups -- The Strollers -- has just released its latest CD with a song that's certain to be a foot-tapping classical. Of course, you know the song of which I speak -- "Sidewalking." Let's stop into the Musical Sound CD Emporium in the Shady Valley Central Town Sprawling Hills Shopping Mall and fulfill my dreams. Everyone in Shady Valley, however, does not share my joy. As the seventeen year old Emporium clerk, Alicia Hyfield, completes my transaction, she confesses more than a bit of disgruntlement over here just-issued paycheck. A little investigation reveals some displeasure with the size of the FICA deduction. Her disgruntlement isn't lessened to know that this is for the government's social security program that's suppose to provide a source of income in her golden years. She seems more than a bit skeptical of ever seeing any returns. Maybe we can alleviate her concerns (and mine) with a quick run through social security.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store looking to buy either a how-to book on surfing the Internet or a computer that can play music and burn CDs. Be on the lookout for slow moving vehicles with darkened windows.
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This isn't me! What am I?
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"Try not to become a man of success, but rather try to become a man of value. " -- Albert Einstein
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CFA
Cash Flow Accounting
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