Truth in Budgeting Act

Truth in Budgeting Act - Provides for full congressional review of all Federal programs every 2 years by the appropriate standing committees of the House and Senate.

Provides that each comprehensive review conducted by a committee with respect to a Federal program under this Act shall include a detailed consideration of the past experience under the program and a projection of the expected future experience of the program, a consideration of alternate ways of carrying out the activities involved and alternative funding levels for such activities, an evaluation of each such alternative in terms of its probable costs and benefits, a comparison of each such alternative with other programs and activities in the same or related fields, and an evaluation of the overall success or failure of the program.

Details the method to be used to review such programs by the standing committee.

Provides that no funds in excess of the appropriations for the previous year may be authorized for a program that has not been subject to review during the calendar year.