Budget deficit (31 - 40 of 114 items)
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...
Budget Process: Considerations for Updating the Budget Enforcement Act
GAO-01-991T: Published: Jul 19, 2001. Publicly Released: Jul 19, 2001.
This testimony discusses the budget process established by the Budget Enforcement Act, which will expire in fiscal year 2002. Because the goal of achieving zero deficits has been achieved, the focus of the budget process has shifted to to the allocation of surpluses among debt reduction, spending increases, and tax cuts. The budget process should be designed to avoid what has been described as the...
Federal Debt: Debt Management Actions and Future Challenges
GAO-01-317: Published: Feb 28, 2001. Publicly Released: Feb 28, 2001.
This report discusses the Treasury Department's debt management strategies in a period of budget surplus. As the level of debt held by the public has decreased, the Treasury has had to rethink its strategies for best achieving its three goals--having enough cash on hand, minimizing cost over time, and promoting efficient markets. The Treasury has used existing and new debt managing tools in respon...
Long-Term Budget Issues: Moving From Balancing the Budget to Balancing Fiscal Risk
GAO-01-385T: Published: Feb 6, 2001. Publicly Released: Feb 6, 2001.
In this statement, the Comptroller General discusses the fiscal policy challenges facing Congress and the nation. The focus of tax administration and budgeting are shifting because of current and projected budget surpluses. The Comptroller General speaks of the need for fiscal responsibility when using surplus projections to design tax and spending policies. These projections are based on a set of...
Budget Issues: July 2000 Update of GAO's Long-Term Fiscal Simulations
AIMD-00-272R: Published: Jul 26, 2000. Publicly Released: Jul 26, 2000.
Pursuant to a congressional request, GAO updated its long-term economic model using the latest economic and budget assumptions from the Congressional Budget Office (CBO).GAO noted that: (1) the continued strength of the U.S. economy and the significant improvement in the budget projections released by CBO this month compared to those released in January are reflected in GAO's updated long-term sim...
Social Security Reform: Information on the Archer-Shaw Proposal
AIMD/HEHS-00-56: Published: Jan 19, 2000. Publicly Released: Feb 4, 2000.
Pursuant to a congressional request, GAO provided information on the Archer-Shaw Social Security reform proposal, focusing on: (1) the extent to which the proposal achieves sustainable solvency and how it would affect the U.S. economy and the federal budget; (2) the balance struck between the twin goals of income adequacy (level and certainty of benefits) and individual equity (rates of return on...
Social Security: The President's Proposal
T-HEHS/AIMD-00-43: Published: Nov 9, 1999. Publicly Released: Nov 9, 1999.
Pursuant to a congressional request, GAO discussed the President's proposal for Social Security financing, focusing on: (1) the extent to which the proposal achieves sustainable solvency and how the proposal would affect the economy and the federal budget; (2) whether the proposal balances individual equity and income adequacy; and (3) how readily changes could be implemented, administered, and ex...
Social Security: Evaluating Reform Proposals
AIMD/HEHS-00-29: Published: Nov 4, 1999. Publicly Released: Nov 5, 1999.
Pursuant to a congressional request, GAO analyzed the potential budgetary and economic effects of several Social Security reform proposals.GAO noted that: (1) GAO's assessments of the reform proposals are based on the analytic framework GAO provided to Congress last March; (2) that framework consists of three basic criteria: (a) the extent to which the proposal achieves sustainable solvency and ho...
Federal Budget: The President's Midsession Review
OCG-99-29: Published: Jul 27, 1999. Publicly Released: Jul 27, 1999.
Pursuant to a congressional request, GAO discussed the President's Midsession Review and the implications of the President's proposals on fiscal policy and the federal budget.GAO noted that: (1) the large on-budget surpluses are still projections; (2) even in the near term these projections are optimistic and may not be realized since they assume full compliance with existing tight caps on discret...
Budget Issues: Cap Structure and Guaranteed Funding
T-AIMD-99-210: Published: Jul 21, 1999. Publicly Released: Jul 21, 1999.
Pursuant to a congressional request, GAO discussed: (1) the budget structure and current budgetary control regime; (2) the budget outlook, discretionary caps, and enforcement situation as the United States enters an era of projected unified budget surpluses; (3) potential implications of guaranteeing minimum spending levels on the discretionary side of the budget; and (4) the pay-as-you-go (PAYGO)...