Access over 20 million homework & study documents

Us Government

Content type
User Generated
Subject
Policy
School
Capella University
Type
Homework
Rating
Showing Page:
1/1
Response to Discussion Post
I agree with you that the role of the government in budgeting process helps to eliminate
overspending. The budget process is undertaken by the three arms of the government, starting
with the executive, followed by the Congress. With such attention, it is difficult to vest personal
interests from any official. After budget requests are made by federal agencies, and later
submitted to the White House, the Congress takes over (USA GOV, 2021). The role of the
congress in the budget process includes authorization, budget resolution and appropriation bills.
One way for government to create an enabling environment for businesses is to correct
externalities and other market failures so that provision of goods and services to citizens is made
on fair grounds. As you have indicated, the government owes its citizens protection of interests.
For this reason, it uses certain strategies to respond to market failures and externalities. To deal
with externalities, it introduces market-based policies like subsidies and taxes in order to
influence the behavior and decisions of business proprietors in order to correct an externality. If
it wants to regulate a certain behavior directly, it uses command-and-control policies such as
imposing targets, standards, process requirements or at times banning products in or out of the
market. For instance, the government could resolve to protect the environment by banning
production of plastic materials (Shethna, 2020). It could also encourage production of
alternatives to plastics by providing subsidies or reducing taxes for the said manufacturers. It
would be detrimental if government allowed businesses to operate without any guidelines, since
most of them are fully profit oriented.
Just to add on what you have asserted on justifying the use of taxpayer resources to correct
externalities, it is only prudent for the government to do so to protect its citizens. Certainly, the
protection comes at a cost, which in most cases, is negligible. The benefits accrued by the
protection, by far, outweigh the damage that would be caused if externalities and market failures
were not corrected.
References
USA GOV. (2021). Budget of the U.S Government. USA GOV. https://www.usa.gov/budget
Shethna J. (2020). Market Failure and The Role of Government. EDUCBA.
https://www.educba.com/market-failure-and-the-role-of-government/

Sign up to view the full document!

lock_open Sign Up
Unformatted Attachment Preview
Response to Discussion Post I agree with you that the role of the government in budgeting process helps to eliminate overspending. The budget process is undertaken by the three arms of the government, starting with the executive, followed by the Congress. With such attention, it is difficult to vest ...
Purchase document to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Anonymous
Great! Studypool always delivers quality work.

Studypool
4.7
Indeed
4.5
Sitejabber
4.4

Similar Documents