Compare the national budget process to the personal budget process

A national budget is the budget of a country. The government gets money from taxes and fees and spends it on things like national defense, infrastructure, grants for research, education, and the arts, and social programs such as Social Security and Medicare.

A personal budget or home budget is a finance plan that allocates future personal income towards expenses, savings, and debt repayment. Past spending and personal debt are considered when creating a personal budget ... For example, jobs are an income source, while bills and rent payments are expenses.