Budget deficit (1 - 10 of 83 items)
State and Local Governments' Fiscal Outlook: April 2011 Update
GAO-11-495SP: Published: Apr 6, 2011. Publicly Released: Apr 6, 2011.
Fiscal sustainability presents a national challenge shared by all levels of government. Since 2007, GAO has published long-term fiscal simulations for the state and local government sector. These simulations show that, like the federal government, the state and local sector faces persistent and long-term fiscal pressures. Using the Bureau of Economic Analysis's National Income and Product Accounts...
State and Local Governments' Fiscal Outlook: March 2010 Update
GAO-10-358: Published: Mar 2, 2010. Publicly Released: Mar 2, 2010.
Fiscal sustainability presents a national challenge shared by all levels of government. Since 2007, GAO has published long-term fiscal simulations for the state and local government sector. These simulations show that, like the federal government, the state and local government sector faces persistent and long-term fiscal pressures. Using the Bureau of Economic Analysis's National Income and Produ...
Long-Term Fiscal Outlook: Action Is Needed to Avoid the Possibility of a Serious Economic Disruption in the Future
GAO-08-411T: Published: Jan 29, 2008. Publicly Released: Jan 29, 2008.
GAO has for many years warned that our nation is on an imprudent and unsustainable fiscal path. During the past 3 years, the Comptroller General has traveled to 25 states as part of the Fiscal Wake-Up Tour. Members of this diverse group of policy experts agree that finding solutions to the nation's long-term fiscal challenge will require bipartisan cooperation, a willingness to discuss all options...
State and Local Governments: Growing Fiscal Challenges Will Emerge during the Next 10 Years
GAO-08-317: Published: Jan 22, 2008. Publicly Released: Jan 22, 2008.
State and local governments provide an array of services to their residents, such as primary and secondary education, libraries, police and fire services, social programs, roads and other infrastructure, public colleges and universities, and more. These subnational governments may face fiscal stress similar to the federal government. Given the nature of the partnership among levels of government i...
Mandatory Spending: Using Budget Triggers to Constrain Growth
GAO-06-276: Published: Jan 31, 2006. Publicly Released: Jan 31, 2006.
Prepared as part of GAO's basic statutory responsibility for monitoring the condition of the nation's finances, the objectives of this report were to (1) determine the feasibility of designing and using trigger mechanisms to constrain growth in mandatory spending programs and (2) provide an analysis of the factors that led to differences between estimated and actual outlays in seven mandatory budg...
A Glossary of Terms Used in the Federal Budget Process (Supersedes AFMD-2.1.1)
GAO-05-734SP: Published: Sep 1, 2005. Publicly Released: Sep 1, 2005.
This publication supersedes AFMD-2.1.1, A Glossary of Terms Used in the Federal Budget Process (Exposure Draft), January 1993. It fulfills part of GAO's responsibility to publish standard terms, definitions, and classifications for the government's fiscal, budget, and program information. It was developed in cooperation with the Secretary of the Treasury and the Directors of the Office of Manageme...
21st Century Challenges: Performance Budgeting Could Help Promote Necessary Reexamination
GAO-05-709T: Published: Jun 14, 2005. Publicly Released: Jun 14, 2005.
As part of its work to improve the management and performance of the federal government, GAO monitors progress and continuing challenges in performance budgeting and the Administration's related initiatives, such as the Program Assessment Rating Tool (PART). In light of the nation's long-term fiscal imbalance and other emerging 21st century challenges, we have also reported that performance budget...
Budget Process: Long-term Focus Is Critical
GAO-04-585T: Published: Mar 23, 2004. Publicly Released: Mar 23, 2004.
The structure of the budget process can help ensure that budget decision makers are presented with the information and choices for timely and informed decisionmaking. GAO's long-term budget simulations show that, absent substantive entitlement reform and/or dramatic changes in tax and spending policies, we will face large, escalating, and persistent deficits. A budget process incorporating new met...
Budget Issues: Budget Enforcement Compliance Report
GAO-02-794: Published: Jun 14, 2002. Publicly Released: Jun 14, 2002.
The Balanced Budget and Emergency Deficit Control Act of 1985 requires that the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO) issue sequestration reports annually to Congress. Overall, GAO found that OMB and CBO substantially complied with the act in fiscal year 2002. However, as in previous years, some of the required OMB and CBO reports were issued late. Further...
Budget Process: Extending Budget Controls
GAO-02-682T: Published: Apr 25, 2002. Publicly Released: Apr 25, 2002.
The events of September 11 imposed new demands on the federal budget, while pent-up demands from years of fighting deficits remain. In the past, GAO has suggested four broad principles for a budget process. That process should (1) provide information on the long-term impact of decisions, both macro--linking fiscal policy to the long-term economic outlook--and micro--providing recognition of the lo...