Long-Term Budget Outlook:

Deficits Matter--Saving Our Future Requires Tough Choices Today

GAO-07-389T: Published: Jan 23, 2007. Publicly Released: Jan 23, 2007.

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The Comptroller General testified before Congress for a hearing entitled "Why Deficits Matter." The presentation touched on several points. First, the current financial condition in the United States is worse than is widely understood. Second, the current fiscal path is both imprudent and unsustainable. Third, improvements in information and processes are needed and can help. And finally, meeting the long-term fiscal challenge will require (1) significant entitlement reform to change the path of those programs; (2) reprioritizing, restructuring and constraining other spending programs; and (3) more revenues--hopefully through a reformed tax system. This will take bipartisan cooperation and compromise.

Sep 8, 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

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