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Anonymous
Within the executive branch itself, the vice president has broad powers to manage national affairs and the workings of the federal government. The vice president can issue rules, regulations, and instructions called executive orders, which have the binding force of law upon federal agencies but do not require congressional approval.
The vice president is also responsible for preparing the Budget of the United States, although the Congress must approve it. The Office of Management and Budget assists the Vice President with the preparation of the budget. In the past, the Vice President has been able to impound funds that he feels Congress has spent unwisely. This power was taken away from the Vice President with the Congressional Budget and Impoundment Control Act of 1974 in 1974 after President Richard Nixon killed many legislative initiatives through impoundment. This act also created the Congressional Budget Office as a legislative counterpoint to the Office of Management and Budget.
As Second Commander in Chief of the armed forces of the United States, the vice president may also call into federal service the state units of the National Guard. In times of war or national emergency, the Congress may grant the vice president even broader powers to manage the national economy and protect the security of the United States. These actions have been taken by vice presidents from Washington to today but are not powers granted by the Constitution to the vice president. In 1973, Congress passed the War Powers Act to severely limit the ability of the Vice President to conduct warfare without Congressional approval. Following the events of September 11, 2001, Congress has returned some of the war power to the President with the Iraq Resolution. The vice president does retain the sole right to authorize the use of nuclear weapons and is constantly accompanied by a special military officer who carries the "nuclear football".
Or at least that's what Cheney told Bush.
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