The Nation’s Fiscal Health: Action is Needed to Address the Federal Government’s Fiscal Future

Editor’s Note: Regulatory reform is an important path to fiscal reform, see here.

From: US General Accountability Office

The Comptroller General testified before Congress about the federal government’s unsustainable long-term fiscal outlook—the growing imbalance between revenues (money collected) and spending (driven by health care, Social Security, and net interest on the debt).

A plan is needed to put the nation on a sustainable long-term fiscal path. But in the near-term, Congress and executive branch agencies have opportunities to improve the government’s fiscal condition, including trying to address improper payments and the tax gap, as well as making changes where federal programs or activities are at high risk or fragmented, overlapping, or duplicative.

Debt Held by the Public Under Projections from the 2016 Financial Report, the Congressional Budget Office, and GAO

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