Tag Archives: fiscal outlook

The Nation’s Fiscal Health: A Warning about the Government’s Finances

Posted on April 10, 2019 by WatchBlog

Without a change in law or policy, the gap between the amount of money the federal government collects and the amount it spends will continue to grow, likely reaching $1 trillion in the next few years. We issued our third … Continue reading →

Image | Posted on April 10, 2019 by WatchBlog | Tagged Dawn Simpson, debt-to-GDP ratio, federal debt, financial reports, fiscal condition, fiscal health, fiscal outlook, GDP, interest, long-term debt, Medicaid, medicare, national debt, Robert Dacey, SI, simulation, Susan Irving

Did You Know the Government Gets Audited, Too?

Posted on March 28, 2019 by WatchBlog

Tax season has many people diligently filing their returns to avoid being audited. While the federal government is not a tax-paying entity, it actually undergoes an audit of its financial statements every year. How do we know? Because we perform … Continue reading →

Image | Posted on March 28, 2019 by WatchBlog | Tagged annual audit, consolidated financial statements, Dawn Simpson, Department of Defense, Department of the Treasury, financial audits, financial reports, fiscal outlook, FMA, improper payments, information security, loans receivable, Office of Management and Budget

December Podcast Roundup – Podcasts You May Have Missed

Posted on January 8, 2019 by WatchBlog

We were busy podcasting all last year! And if you’re not subscribed on iTunes or our RSS feed, you’re missing out. Today’s WatchBlog catches you up on podcasts you may have missed last month. Protecting the Electric Grid: Severe solar … Continue reading →

Image | Posted on January 8, 2019 by WatchBlog | Tagged Chris Currie, electric grid, electrical grid, fiscal outlook, Greg Wilshusen, HSJ, information systems, IT, Michelle Sager, pipeline, podcast, podcast roundup, SI, space weather, state and local, Tim Persons, Transportation Security Administration, TSA

State and Local Governments’ Fiscal Future

Posted on January 11, 2018 by WatchBlog

Our projections for the fiscal future of state and local governments were updated today and it shows, unless changes are made, those governments will face a gap between spending and revenue over the next 46 years. For over a decade, … Continue reading →

Image | Posted on January 11, 2018 by WatchBlog | Tagged financial future, fiscal forecasting, fiscal outlook, local government, SI, state budgets, Triana McNeil

Auditing the Government’s Books

Posted on May 25, 2016 by WatchBlog

Congress and the President need reliable, useful, and timely financial information so they can make difficult budget choices and deal with the nation’s long-term fiscal challenges. Each year, we audit the governmentwide financial statements to help make sure good information … Continue reading →

Image | Posted on May 25, 2016 by WatchBlog | Tagged annual audit, CFS, consolidated financial statement, fiscal outlook, FMA, government accounting, government spending

State and Local Fiscal Futures (podcast)

Posted on December 18, 2015 by WatchBlog

Across the country, state and local governments are facing uncertain fiscal futures. So, for almost a decade, we’ve run simulations of state and local governments’ finances to see what the future holds. Explore our most recent update to our state … Continue reading →

Image | Posted on December 18, 2015 by WatchBlog | Tagged financial forecast, fiscal forecasting, fiscal outlook, local government, SI, state budgets

GAO’s Strategic Issues Team

Posted on April 28, 2015 by gao_watchblog

GAO’s workforce is organized largely by subject area, with most employees working in 1 of 14 mission teams. Today, we’ll spotlight the Strategic Issues (SI) team, which focuses on helping Congress and federal agencies address the governance and management challenges … Continue reading →

Image | Posted on April 28, 2015 by gao_watchblog | Tagged budget, census, Chris Mihm, civil service, debt, decennial census, federal budget, federal human workforce, fiscal outlook, high risk, intergovernmental relations, sequestration, SI, tax administration, tax policy | 10 Comments

Projecting the Future of Federal Finances: Long-Term Fiscal Simulations

Posted on April 10, 2015 by gao_watchblog

Since 1992, we have prepared long-term fiscal simulations to show federal deficits and debt under different sets of policy assumptions. Our latest update shows that the federal government continues to face a long-term fiscal sustainability challenge.

Image | Posted on April 10, 2015 by gao_watchblog | Tagged debt, fiscal exposures, fiscal outlook, SI, Susan Irving | 1 Comment

Fiscal Exposures: 5 Sources of Risk that Drive Future Spending

Posted on February 26, 2015 by gao_watchblog

In tandem with today’s release of our audit of the federal government’s fiscal year 2014 consolidated financial statements, we want to highlight our work on fiscal exposures. This is a term that describes services or expenditures that Americans may expect, … Continue reading →

Image | Posted on February 26, 2015 by gao_watchblog | Tagged budget, cyber attack, debt, demographics, extreme weather, fiscal forecasting, fiscal outlook, medicare, natural disaster, risk, security, SI, Social Security, Susan Irving, unknowns | 2 Comments

Podcast on GAO’s State and Local Fiscal Outlook Model Update

Posted on December 18, 2014 by GAOWatchBlog

State and local governments nationwide face long-term fiscal sustainability challenges. Since 2007, GAO has published simulations of fiscal trends in the state and local government sectors. Explore the state and local fiscal outlook model, and hear our podcast with Michelle Sager, … Continue reading →

Image | Posted on December 18, 2014 by GAOWatchBlog | Tagged budget, fiscal outlook, fiscal pressures, local government, model, podcast, revenue, spending, states, tax