2. Incorporate fixed asset long-term planning into the federal budget process. OMB should revise appropriate circulars to change the budget process to incorporate fixed asset long-term planning, including governmentwide analysis to ensure prioritization of fixed asset acquisitions and optimization of resources allocated to long-term investments. This should be completed by March 1994 and included in the fiscal year 1996 budget request. The revised process should call for a prominent display of a division of budget outlays between operating expenditures and long-term investments in fixed assets. The definition of long-term investments should be limited to tangible, long-term assets that are owned by, or leased on a long- term basis to, the federal government.
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