Explain how a liberal and conservative would approach developing the US budget.

A liberal approach to developing the US budget would emphasize the need for increased government spending on social programs, such as health care and education, in order to reduce inequality and increase economic security. This approach would also likely involve raising taxes on the wealthy and corporations in order to generate more revenue for these initiatives. A conservative approach, on the other hand, would focus on reducing government spending and taxation levels in order to stimulate economic growth. They may advocate for less regulation of businesses and cutting back on social welfare programs in favor of lower taxes. Ultimately both approaches aim to create a budget that is balanced and meets the needs of Americans while ensuring fiscal responsibility.