GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
This report provides an update on the federal government’s fiscal condition at the end of FY 2019 and the unsustainable path it is on if policies don’t change.
Among its findings:
Publicly held debt rose to 79% of GDP.
The federal government is on an unsustainable fiscal path.
Federal spending continues to outpace revenue—by $587 billion in 2016—and, absent policy changes, the structural gap between revenues and spending puts the federal government on an unsustainable long-term fiscal path.
In passing the 1990 Chief Financial Officers Act and a range of other financial management reform legislation, Congress has sought to overcome the historical lack of reliable, useful, and timely information with which to make informed decisions, measure and control costs, manage for results, and ensure...
Pursuant to a congressional request, GAO reviewed the Social Security Administration's (SSA) final actions to ensure its year 2000 readiness, including the actions it took during the rollover period--December 30,1999, through January 3, 2000, as well as for the February 29 leap year date--to ensure a...
Pursuant to a congressional request, GAO discussed the Postal Service's (USPS) conversion strategy for preparing for the year 2000 crisis, focusing on: (1) year 2000 planning documents and their year 2000 guidance; and (2) internal development standards.