Fiscal policies (31 - 40 of 83 items)
21st Century: Addressing Long-Term Fiscal Challenges Must Include a Re-examination of Mandatory Spending
GAO-06-456T: Published: Feb 15, 2006. Publicly Released: Feb 15, 2006.
This testimony discusses entitlement and other mandatory spending programs in light of our nation's long-term fiscal outlook and the challenges it poses for the budget and oversight processes. In our report entitled 21st Century Challenges: Reexamining the Base of the Federal Government, we presented illustrative questions for policy makers to consider as they carry out their responsibilities. The...
21st Century Challenges: Reexamining the Base of the Federal Government
GAO-05-352T: Published: Feb 16, 2005. Publicly Released: Feb 16, 2005.
This report stems from the recognition that the Congress faces a daunting challenge: the need to bring government and its programs in line with 21st century realities. This challenge has many related pieces: addressing the nation's large and growing long-term fiscal gap; deciding on the appropriate role and size of the federal government--and how to finance that government--and bringing the panopl...
Long Term Fiscal Issues: The Need for Social Security Reform
GAO-05-318T: Published: Feb 9, 2005. Publicly Released: Feb 9, 2005.
Social Security is the foundation of the nation's retirement income system, helping to protect the vast majority of American workers and their families from poverty in old age. However, it is much more than a retirement program, providing millions of Americans with disability insurance and survivors' benefits. As the baby boom generation retires and given longer life spans and lower birth rates, S...
Long-Term Fiscal Issues: Increasing Transparency and Reexamining the Base of the Federal Budget
GAO-05-317T: Published: Feb 8, 2005. Publicly Released: Feb 8, 2005.
This testimony discusses the nation's long-term fiscal outlook and the challenge it poses for the budget and oversight processes. First, GAO provides results of its most recent simulations of the long-term fiscal outlook, updating a model GAO initially developed in 1992. GAO also discusses some ideas for increasing transparency of the long-term costs of government commitments and the range of fisc...
Highlights of a GAO Forum: The Long-Term Fiscal Challenge
GAO-05-282SP: Published: Feb 1, 2005. Publicly Released: Feb 1, 2005.
Research on public opinion shows that while the public is aware of the Federal Government's long-term fiscal challenge, it does not have a good handle on the size and implications of this challenge. In addition, the public consistently ranks our long-term fiscal challenge as low priority relative to other issues, such as the current state of the economy. This gap in public understanding of the nat...
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...
Fiscal Exposures: Improving the Budgetary Focus on Long-Term Costs and Uncertainties
GAO-03-213: Published: Jan 24, 2003. Publicly Released: Feb 24, 2003.
GAO and other budget experts have discussed that the current time horizons and content of the federal budget could be enhanced to more comprehensively reflect the government's commitments or signal emerging problems. GAO was asked to (1) provide information on the range and nature of responsibilities, programs, and activities that may explicitly or implicitly expose the government to future spendi...
Supporting Congressional Oversight: Budgetary Implications of Selected GAO Work for Fiscal Year 2003
GAO-02-576: Published: Apr 26, 2002. Publicly Released: Apr 26, 2002.
This report discusses the budgetary implications of selected program reforms discussed in GAO work but not yet implemented or enacted. To help congressional budget and appropriations committees identify ways to reduce federal spending or increase revenues, this year's report contains more than 100 examples of budget options organized by budget function. Where possible, budgetary savings estimates...
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...
Supporting Congressional Oversight: Framework for Considering Budgetary Implications of Selected GAO Work
GAO-01-447: Published: Mar 9, 2001. Publicly Released: Mar 9, 2001.
This report provides a framework for considering the budgetary implications of program reform options discussed in past GAO work but not yet addressed or enacted. To help Congress, GAO has developed an oversight framework that is intended to allow Congress to systematically address the goals, scope, and approaches for delivering these on-going programs. This report contains more than 100 examples...