Budget Process
Federal law requires Congress to produce a budget each fiscal year to set spending limits. Under normal process 1) the President submits a budget proposal to Congress, 2) both chambers produce their own budget resolution, and 3) Congress passes appropriations bills that set the spending levels. Unfortunately, implementing the budget process is always much more complicated. I would encourage you to review this report by the Congressional Research Service for a more detailed analysis.
Current Crisis
Currently, the United States national debt is over $17 trillion dollars, while the annual deficit was $845 billion for fiscal year 2013 (FY2013). You may find up to the minute numbers here.
House Passed 2014 Budget
With a national debt that equals more than $133,000 per household, Congress has no excuse for inaction. In March 2013 the House passed their fiscal year 2014 budget. The House-passed budget resolution will reduce deficits by $4.6 trillion over ten years while fixing our broken tax code, cutting wasteful spending and protecting and strengthening programs like Medicare and Medicaid.
I am convinced that there is a spending problem in Washington and it is long past time the federal government stepped up with solutions to our fiscal crisis. I stand ready to work with my colleagues to rein in this excess and get our nation's fiscal house in order.