Balanced budgets (1 - 1 of 1 item) in Past Year
2014 Sequestration: Opportunities Exist to Improve Transparency of Progress Toward Deficit Reduction Goals
GAO-16-263: Published: Apr 14, 2016. Publicly Released: Apr 14, 2016.
GAO found that in fiscal year 2014, total mandatory budget authority government-wide was approximately $2.9 trillion spread across roughly 443 accounts. The Balanced Budget and Emergency Deficit Control Act of 1985 (BBEDCA), as amended, required the Office of Management and Budget (OMB) to apply a range of sequestration rates to non-exempt mandatory spending. This resulted in estimated reductions...