Among the new class of inductees into the "Longman Classics in Political Science" Series, this Fifth Edition updates and revises Aaron Wildavsky's classic exposition of how federal budget decisions are made and how formal budget institutions and processes are interwoven with political dynamics. This text explains how the federal budget process has evolved and analyzes recent developments in key areas: entitlements, defense, deficit/surplus and reforms. Its critical and stimulating approach and clear, readable explanations make it essential reading for students of politics and public administration, as well as anyone trying to understand a decision-making process that affects virtually all Americans.