Budget Issues

OCG-93-1TR: Published: Dec 1, 1992. Publicly Released: Dec 1, 1992.

Additional Materials:


Office of Public Affairs
(202) 512-4800

Pursuant to a congressional request, GAO summarized issues concerning the federal budget deficit problem and the factors involved in reducing the deficit.

GAO noted that: (1) the 1992 budget deficit totalled $290 billion or 4.9 percent of the gross national product; (2) the actual budget deficit totalled $386 billion, but was partially offset by $90 billion in trust fund surpluses; (3) the trust fund surplus is expected to decrease as the baby boom generation reaches retirement; (4) the 1992 deficit was held down by delaying funding for the savings and loan crisis and many unfunded costs resulting from future claims; (5) the deficit has grown because of the recession, inadequate cuts in domestic programs, and a combination of an accelerated defense buildup and a simultaneous reduction in taxes; and (6) solving the deficit problem will require a long-term fiscal policy path based on macroeconomic grounds, emphasizing the budget's investment portion, and examining the areas where the budget has had the largest increase.

Jun 25, 2020

Jun 22, 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

Looking for more? Browse all our products here