Federal Budget Law and Policy Seminar

3 credits · Law School

This seminar explores the law, policy, and macroeconomics of the U.S. federal budget. In 2024, the federal government spent about $6.8 trillion. How was this number determined, how was it divided among uses, in what forms was it spent, and what legal rules governed each step of that process? We will trace the full lifecycle of federal spending from authorization to appropriation to procurement (and borrowing), with occasional detours into niche areas like reconciliation and sequestration. We will study budgetary statutes like the Impoundment Control Act, the Balanced Budget and Emergency Deficit Control Act, and the Antideficiency Act, while learning to evaluate these laws in light of underlying principles like credible commitment, obligations to future generations, and separation of powers. We will explore cutting-edge debates involving the fiscal role of the Federal Reserve, the President’s discretion to reprogram funds, and the implications of spending through the tax code. There will be ample opportunity to explore connections to tax law and administrative law, though no formal background in those subjects is required. Enrollment limited. [3]