From: US GAO | Watchblog
The United States faces a highly challenging fiscal future. Absent change in policy, the federal fiscal path is unsustainable—debt is growing faster than the economy (GDP). This springs from the continuing gap between the amount of money the federal government collects in revenue, and the amount it spends—i.e., the federal deficit.
Today we issued an update on the fiscal condition of the U.S. government as of the end of FY 2017—and its likely fiscal future if policies don’t change.
The WatchBlog explores the nation’s fiscal health. Listen to our podcast with Susan Irving, our expert on debt and fiscal issues, then read on for more.