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TABLE OF CONTENTS
Part One, INTRODUCTION

Page

I. The Budget Message of the President

1

II. Director's Introduction and Overview Tables

5

III. Economic Assumptions and Sensitivities

29

Part Two. THEMES AND PRIORITIES
IV. Investing in the Future

1

A. Investing in Human Capital and Reforming American Education

3

B. Focusing on Prevention and the Next Generation

21

C. Enhancing Research and Development and Expanding the Human Frontier

35

D. Improving the Transportation Infrastructure

77

E. Preserving America's Heritage and Protecting the Environment in a
Growing Economy

87

V. Increasing Choice and Opportunity
A. Increasing Choice, Expanding
Distressed Communities

107
Opportunity,

and Providing

Hope to
109

B. Ending the Scourge of Drugs and Crime

123

C. Distributing Federal Benefits More Fairly

135

VI. Advancing States as Laboratories

145

A. Encouraging Experimentation

149

B. Reporting on Variation and Innovation

155

C. Providing Federal Aid to State and Local Governments

163

VII. Preserving National Security and Advancing America's Interests Abroad

179

A. Preserving National Security

183

B. Advancing America's Interests Abroad

193

VIII. Addressing Inherited Claims, Hidden Liabilities, and Debt




199

A. Recognizing and Reducing Federal Underwriting Risks

201

B. Identifying Long-Term Retirement Obligations

269

C. Accounting for Federal Borrowing and Debt

283

Page

IX. Managing For Integrity and Efficiency

299

A. Strengthening Management and Accountability

303

B. Improving Returns on Investment

339

C. Reforming Regulation and Managing Risk-Reduction Sensibly

367

D. Reforming the Budget Process

377

E. Managing by Objectives

379

Part Three.

RECEIPTS

X. Receipts, User Fees, and Other Collections
XI. Tax Expenditures

1
17

Part Four. FEDERAL PROGRAMS BY FUNCTION, AGENCY, AND
ACCOUNT
XII. Summary
A. Federal Programs by Function
B. Federal Programs by Agency and Account

1
3
15

C. Federal Employment

201

D. Relationship of Budget Authority to Outlays

205

E. Comparison of Actual and Estimated Totals for 1990

207

F. Off-Budget Federal Entities

213

XIII. Detailed Budget Estimates
A. Detailed Budget Estimates by Agency

215
227

B. Proposed Revisions in Budget Authority—Including Supplemental and
Rescissions

1199

C. Estimates for Government-Sponsored Enterprises

1223

Part Five. BUDGET ENFORCEMENT ACT PREVIEW REPORT
AND CURRENT SERVICES ESTIMATES
XIV. Budget Enforcement Act Preview Report
XV. Current Services Estimates

1
13

Part Six. ALTERNATIVE BUDGET PRESENTATIONS
XVI. National Income and Product Account Presentation
XVII. Trust Funds and Federal Funds Presentation
XVIII. Physical Capital Presentation
XIX. General Accounting Office Preferred Presentation
XX. State-Type Presentation
ii




3
9
15
29
33

Page

XXI. Operating, Retirement, and Debt and Interest Presentation

37

Part Seven. HISTORICAL TABLES
Contents of the Historical Tables

3

Introduction

5

Historical Tables

Part Eight-

13

GLOSSARY, LIST OF CHARTS AND TABLES, AND
INDEX

Glossary of Budget Terms

1

List of Charts and Tables

7

OMB Contributors to the 1992 Budget

19

Index

23

GENERAL NOTES
1. All years referred to are fiscal years, unless otherwise noted.
2. Detail in the tables, text, and charts of this volume may not add to the totals due
to rounding.
3. Passage of the Omnibus Budget Reconciliation Act of 1990 in mid-November
made preparation of the 1992 budget by the legal transmittal date of February
4th especially difficult. The President's 1992 budget had to comply with technically complex new spending caps, pay-as-you-go limits, and reforms of Federal
credit programs. If, as a result, errors have been made, they will be corrected as
soon as they are identified.

U.S. GOVERNMENT PRINTING OFFICE
WASHINGTON

1991

For sale by the Superintendent of Documents, U.S. Government Printing Office Washington, D.C. 20402




iii


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102