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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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SEVENTH RULE OF COMPLEXITY The seventh of seven basic rules of the economy, stating that every action in the complex world has direct and often intended consequences combined with indirect and probably unintended effects.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at a flea market looking to buy either a package of 4 by 6 index cards, the ones with lines or a 50 foot extension cord. Be on the lookout for the last item on a shelf.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"When you play, play hard; when you work, don't play at all. " -- Theodore Roosevelt, 26th US president
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AEC
Annual Equivalent Costs
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