Saturday, 5 January 2013

SOME TERM OF THE DAY


Congressional Budget Office
Federal agency responsible for composing and reporting data related to the federal budget for members of Congress. The goal of the agency is to provide Congress with accurate and timely information, which can be used to assist them in making educated decisions regarding monetary policies and taxation. The agency was established as a nonpartisan entity, so the political party in charge should have no control over the findings or suggestions it makes. The documents that CBO publishes fall into two main categories: cost estimates and mandate statements. CBO was founded on July 12, 1974, with the enactment of the Congressional Budget and Impoundment Control Act.



Machiavellian
Conduct or philosophy based on (or one who adopts) the cynical beliefs of Niccolo Machiavelli (1469-1527) whose name (in popular perception) is synonymous with deception and duplicity in management and statecraft. Born in Florence (Italy), Machiavelli was its second chancellor and (in 1531) wrote the book 'The Prince' that discusses ways in which the rulers of a nation state can gain and control power. Although The Prince contains some keen and practical insights into human behavior, it also displays a pessimistic view of human nature and condones opportunistic and unethical ways of manipulating people. One of its suggestions reads, "Whoever desires to found a state and give it laws, must start with assuming that all men are bad and ever ready to display their vicious nature.





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