The Nation's Long-Term Fiscal Outlook April 2007 Update: The Bottom Line: Federal Fiscal Policy Remains Unsustainable

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Correspondence issued by the Government Accountability Office with an abstract that begins "Since 1992, GAO has published long-term fiscal simulations of what might happen to federal deficits and debt levels under varying policy assumptions. GAO developed its long-term model in response to a bipartisan request from Members of Congress who were concerned about the long-term effects of fiscal policy. GAO's simulations were updated with new estimates for Social Security and Medicare spending. GAO also modified its alternative simulation so that Medicare spending follows a more realistic path and revenues return to historical levels. GAO updates its simulations three times a ... continued below

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United States. Government Accountability Office. June 4, 2007.

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Description

Correspondence issued by the Government Accountability Office with an abstract that begins "Since 1992, GAO has published long-term fiscal simulations of what might happen to federal deficits and debt levels under varying policy assumptions. GAO developed its long-term model in response to a bipartisan request from Members of Congress who were concerned about the long-term effects of fiscal policy. GAO's simulations were updated with new estimates for Social Security and Medicare spending. GAO also modified its alternative simulation so that Medicare spending follows a more realistic path and revenues return to historical levels. GAO updates its simulations three times a year as new estimates become available from CBO's Budget and Economic Outlook (January), Social Security and Medicare Trustees Reports (spring), and CBO's Budget and Economic Outlook: An Update (late summer). This product responds to congressional interest in receiving updated simulation results."

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Government Accountability Office Reports

The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for the U.S. Congress investigating how the federal government spends taxpayers' money. Its goal is to increase accountability and improve the performance of the federal government. The Government Accountability Office Reports Collection consists of over 13,000 documents on a variety of topics ranging from fiscal issues to international affairs.

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  • June 4, 2007

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  • June 12, 2014, 7:50 p.m.

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United States. Government Accountability Office. The Nation's Long-Term Fiscal Outlook April 2007 Update: The Bottom Line: Federal Fiscal Policy Remains Unsustainable, text, June 4, 2007; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc296586/: accessed September 20, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.