Reform of the Federal Budget Process
Highlights
GAO discussed the importance of reforming the Federal budget process to avoid enormous fiscal and economic difficulties. Two alternative budget approaches to the current process include the single budget resolution and the comprehensive budget bill. However, these are only superficial remedies for a more complex problem. GAO believes that Congress must build a modern financial management structure for the Federal Government. This structure should include strengthened accounting, auditing and data reporting, improved planning and programing, a streamlined budget process, and a systematic measurement of performance. GAO believes that, if reforms are limited to the congressional phase of the process, other budget problems will remain within the Federal process, as well as within the processes at the State and local level.