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.

Additional Materials:

Contact:

Paul L. Posner
(202) 512-3000
contact@gao.gov

 

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

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 assumptions that may or may not hold. They are not a precise prediction of a future and should be used as a reference point when making policy decisions. Although the projected surpluses can provide an opportunity to respond to pent-up demands for additional spending or tax cuts, Congress must balance those demands with the nation's long-term economic health.

Sep 23, 2020

Jan 23, 2020

Dec 19, 2019

  • budget icon, source: GAO

    State and Local Governments' Fiscal Outlook:

    2019 Update
    GAO-20-269SP: Published: Dec 19, 2019. Publicly Released: Dec 19, 2019.

Nov 14, 2019

Oct 16, 2019

Jun 26, 2019

Apr 10, 2019

Mar 27, 2019

Mar 22, 2019

Feb 27, 2019

Looking for more? Browse all our products here