Testimony on H.R. 3929 and Other Budgetary Matters
T-AFMD-90-20: Published: Apr 19, 1990. Publicly Released: Apr 19, 1990.
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GAO discussed proposed legislation that would repeal the Balanced Budget and Emergency Deficit Control Act of 1985 and substitute a new deficit reduction approach that would require annual recalculation of new deficit targets under a pay-as-you-go formula. GAO noted that the: (1) current budget structure does not accurately present investments, costs, and surpluses for effective resolution of budget deficits; and (2) 1985 legislation's formula budgeting approach weakens the legislative process and long-term public confidence in government budgeting. GAO also noted that the proposed legislation: (1) did not include a sequestration procedure to enforce required cutbacks; (2) included provisions designed to make it more difficult to increase spending or decrease revenues from the budget-resolution approved levels; (3) had such advantageous features as reduced incentives for adopting measures producing short-term cash benefits but higher long-term costs, clarification of some budget scorekeeping uncertainties, improved budgeting for federal credit and deposit insurance programs, and decreased misuse of the government-sponsored enterprise concept for moving federal activities off-budget; and (4) presented some weaknesses in terms of the continued use of a formula feature and lack of an easily understood deficit reduction plan. GAO believes that the development of a more comprehensive bill that includes many of the proposed legislation's budget-discipline enhancing provisions, in the context of a multi-year, bipartisan budget summit agreement, could better implement budget resolution targets.
Dec 15, 2020
The Nation's Fiscal Health:
Information on the Spending and Revenue Implications of Potential Debt TargetsGAO-21-211: Published: Dec 15, 2020. Publicly Released: Dec 15, 2020.
Oct 7, 2020
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The Nation's Fiscal Health:
A Long-Term Plan Is Needed for Fiscal SustainabilityGAO-21-161T: Published: Oct 7, 2020. Publicly Released: Oct 7, 2020.
Sep 23, 2020
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The Nation's Fiscal Health:
Effective Use of Fiscal Rules and TargetsGAO-20-561: Published: Sep 23, 2020. Publicly Released: Sep 23, 2020.
Jan 23, 2020
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Federal Trust Funds and Other Dedicated Funds:
Fiscal Sustainability Is a Growing Concern for Some Key FundsGAO-20-156: Published: Jan 16, 2020. Publicly Released: Jan 23, 2020.
Dec 19, 2019
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State and Local Governments' Fiscal Outlook:
2019 UpdateGAO-20-269SP: Published: Dec 19, 2019. Publicly Released: Dec 19, 2019.
Nov 14, 2019
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Certificated Expenditures:
Executive Office of the President FY 2018 Certificated Expenditures Were Spent for Authorized PurposesGAO-20-139R: Published: Nov 14, 2019. Publicly Released: Nov 14, 2019.
Oct 16, 2019
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Civilian Personnel:
Additional Guidance and Consistent Data Reporting Could Help Improve the Marine Corps' Budget ManagementGAO-20-148: Published: Oct 16, 2019. Publicly Released: Oct 16, 2019.
Jun 26, 2019
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The Nation's Fiscal Health:
Actions Needed to Achieve Long-Term Fiscal SustainabilityGAO-19-611T: Published: Jun 26, 2019. Publicly Released: Jun 26, 2019.
Apr 10, 2019
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The Nation's Fiscal Health:
Action Is Needed to Address the Federal Government's Fiscal FutureGAO-19-314SP: Published: Apr 10, 2019. Publicly Released: Apr 10, 2019.
Mar 27, 2019
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Fiscal Exposures:
Federal Insurance and Other Activities That Transfer Risk or Losses to the GovernmentGAO-19-353: Published: Mar 27, 2019. Publicly Released: Mar 27, 2019.
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