Budget deficit (71 - 80 of 114 items)
State and Local Finances: Some Jurisdictions Confronted by Short- and Long-Term Problems
T-HRD-94-1: Published: Oct 6, 1993. Publicly Released: Oct 6, 1993.
GAO discussed the financial condition of state and local governments. GAO noted that: (1) from 1985 to 1991, state and local governments faced increased spending and revenue pressures; (2) certain programs, such as Medicaid, grew rapidly at the state level and public safety programs grew at the county level; (3) state and local governments have acted to control program growth, cut services, and ra...
Budget Policy: Federal Capital Budgeting
T-AFMD-93-7: Published: May 26, 1993. Publicly Released: May 26, 1993.
GAO discussed proposals to establish a federal capital budget. GAO noted that: (1) a capital budget segregates capital revenues and outlays from an operating budget's revenues and outlays; (2) the federal unified budget focuses policymakers' attention on the economic impact of federal cash borrowing and is critical to understanding how federal budgetary decisions affect the business cycle in the s...
Budget Policy: Long-Term Implications of the Deficit
T-OCG-93-6: Published: Mar 25, 1993. Publicly Released: Mar 25, 1993.
GAO discussed the importance of deficit reduction to the United States' long-term economic health. GAO noted that: (1) the increasing proportion of national savings absorbed by the deficit reduces the government's ability to stimulate private investment and economic growth; (2) the continuation of current fiscal policies would result in the deficit increasing to 20 percent of the gross national pr...
Budget Issues: A Comparison of Fiscal Year 1992 Budget Estimates and Actual Results
AFMD-93-51: Published: Feb 12, 1993. Publicly Released: Feb 12, 1993.
GAO reviewed the 1992 budget estimates and actual results, highlighting factors which contributed to substantial differences.GAO found that: (1) 1992 economic forecasts were overestimated due to slower than expected economic growth and increases in spending; (2) the 1992 budget deficit totalled $290.2 billion; (3) 1992 receipts totalled $1.09 trillion, which was $73.4 billion less than the origina...
OCG-93-1TR: Published: Dec 1, 1992. Publicly Released: Dec 1, 1992.
Pursuant to a congressional request, GAO summarized issues concerning the federal budget deficit problem and the factors involved in reducing the deficit.GAO noted that: (1) the 1992 budget deficit totalled $290 billion or 4.9 percent of the gross national product; (2) the actual budget deficit totalled $386 billion, but was partially offset by $90 billion in trust fund surpluses; (3) the trust fu...
Budget Policy: The Budget Deficit and Long-Term Economic Growth
T-OCE-92-1: Published: Jun 11, 1992. Publicly Released: Jun 11, 1992.
GAO discussed the federal budget deficit and federal spending priorities, focusing on the deficit's long-term economic consequences and the economic benefits of deficit reduction. GAO noted that: (1) the rising budget deficit is increasingly absorbing the net national savings available for investment, and trends in expenditures for health care, interest, and social security indicate continued defi...
Budget Policy: Long-Term Implications of the Deficit
T-OCG-92-4: Published: Jun 5, 1992. Publicly Released: Jun 5, 1992.
GAO discussed deficit reduction and better budgetary decisions for the nations long-term economic health. GAO noted that: (1) deficits erode the savings needed for private investment and future economic growth; (2) the share of national savings absorbed by the deficit grew from 2 percent in 1960 to 58 percent in 1990; (3) an influx of foreign capital sustained investment, but this reliance has its...
Budget Policy: Prompt Action Necessary To Avert Long-Term Damage to the Economy
OCG-92-2: Published: Jun 5, 1992. Publicly Released: Jun 5, 1992.
Pursuant to a congressional request, GAO examined the long-term effects of the federal budget and ways to enhance the long-term budgeting perspective.GAO found that: (1) the structurally unbalanced federal budget will damage the economy in the future and is not sustainable in the long term; (2) federal budget deficits have grown since World War II and remain embedded in the budget as a result of r...
Consensus Revenue Forecasting
AFMD-92-70R: Published: May 26, 1992. Publicly Released: May 26, 1992.
GAO reviewed the impact on the budget process of shared economic assumptions and the consensus revenue estimating process that the Congressional Budget Office (CBO) calls forecasts and the Office of Management and Budget (OMB) and CBO describe as projections. GAO noted that: (1) OMB was substantially more optimistic on economic growth than CBO for fiscal years 1988 through 1991; (2) at the federal...
Budget Issues: 1991 Budget Estimates: What Went Wrong
OCG-92-1: Published: Jan 15, 1992. Publicly Released: Jan 15, 1992.
GAO reviewed the factors contributing to the Office of Management and Budget's (OMB) large misestimate for the fiscal year (FY) 1991 budget deficit.GAO found that: (1) the FY 1991 OMB baseline deficit estimate varied from $100.5 billion in January 1990 to $310.3 billion in February 1991, with an actual deficit of $268.7 billion; (2) the $168.2-billion increase was the result of changes in estimate...