The Nation's Fiscal Health:
Action is Needed to Address the Federal Government's Fiscal Future
GAO-17-237SP: Published: Jan 17, 2017. Publicly Released: Jan 17, 2017.
Multimedia:
Additional Materials:
- Highlights Page:
- Full Report:
Contact:
(202) 512-6806
irvings@gao.gov
Office of Public Affairs
(202) 512-4800
youngc1@gao.gov
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.
Federal policymakers face economic, security, and social challenges requiring difficult policy choices, but a long-term fiscal plan is also needed to preserve flexibility to address unforeseen events.
Debt Held by the Public Under Projections from the 2016 Financial Report, the Congressional Budget Office, and GAO
Graph showing increasing ratio of national debt to gross domestic product.
Multimedia:
Additional Materials:
- Highlights Page:
- Full Report:
Contact:
(202) 512-6806
irvings@gao.gov
Office of Public Affairs
(202) 512-4800
youngc1@gao.gov
The Congress and incoming Administration face serious economic, security, and social challenges that will require difficult policy choices in the short term about the level of federal spending and investments as well as ways to obtain needed resources. At the same time, the federal government is highly leveraged in debt by historical norms. In addition to near term financing decisions, a broader plan is needed to put the government on a more sustainable long-term path. This report illuminates this need by outlining the fiscal condition of the U.S. government and its future path based on current fiscal policies. It draws on the recently issued Fiscal Year 2016 Financial Report of the United States Government (2016 Financial Report) and GAO's audit of the government's consolidated financial statements.
Jan 18, 2017
-
Overseas Contingency Operations:
OMB and DOD Should Revise the Criteria for Determining Eligible Costs and Identify the Costs Likely to Endure Long TermGAO-17-68: Published: Jan 18, 2017. Publicly Released: Jan 18, 2017.
Jan 17, 2017
-
The Nation's Fiscal Health:
Action is Needed to Address the Federal Government's Fiscal FutureGAO-17-237SP: Published: Jan 17, 2017. Publicly Released: Jan 17, 2017.
Jan 12, 2017
-
Grants Management:
Selected Agencies Should Clarify Merit-Based Award Criteria and Provide Guidance for Reviewing Potentially Duplicative AwardsGAO-17-113: Published: Jan 12, 2017. Publicly Released: Jan 12, 2017.
Dec 20, 2016
-
Declining Resources:
Selected Agencies Took Steps to Minimize Effects on Mission but Opportunities Exist for Additional ActionGAO-17-79: Published: Dec 20, 2016. Publicly Released: Dec 20, 2016.
Dec 8, 2016
-
State and Local Governments' Fiscal Outlook:
2016 UpdateGAO-17-213SP: Published: Dec 8, 2016. Publicly Released: Dec 8, 2016.
Dec 1, 2016
-
Federal Fees, Fines, and Penalties:
Observations on Agency Spending AuthoritiesGAO-17-268T: Published: Dec 1, 2016. Publicly Released: Dec 1, 2016.
Nov 17, 2016
-
Certificated Expenditures:
Executive Office of the President Fiscal Year 2015 Certificated Expenditures Were Spent for Authorized PurposesGAO-17-116R: Published: Nov 17, 2016. Publicly Released: Nov 17, 2016.
Oct 5, 2016
-
Public Relations Spending:
Reported Data on Related Federal ActivitiesGAO-16-877R: Published: Sep 30, 2016. Publicly Released: Oct 5, 2016.
Jul 21, 2016
-
IRS 2017 Budget:
IRS Could Improve Presentation of Budget Data in Its Congressional JustificationGAO-16-695: Published: Jul 21, 2016. Publicly Released: Jul 21, 2016.
Jun 23, 2016
-
Army Working Capital Fund:
Army Industrial Operations Could Improve Budgeting and Management of CarryoverGAO-16-543: Published: Jun 23, 2016. Publicly Released: Jun 23, 2016.
Looking for more? Browse all our products here