jun 10, 1921 - Signs the Budget and Accounting Act of 1921 which creates the “executive budget” transmitted by the President, who is assisted by a new Bureau of the Budget within the Treasury Department (42 Stat 20). The law also creates a new General Accounting Office “independent of the executive department and under the direction and control of the Comptroller General.” The Comptroller General is appointed by the President to a 15-year term with advice and consent of the Senate
Added to timeline:
Date:
jun 10, 1921
Now
~ 105 years ago