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Tag Archives: fiscal outlook
The Nation’s Fiscal Health: A Warning about the Government’s Finances
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
Posted in Budget and Spending, Fiscal Outlook and The Debt, Podcast, Video
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
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Did You Know the Government Gets Audited, Too?
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
Posted in Auditing and Financial Management, Budget and Spending, Video
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
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December Podcast Roundup – Podcasts You May Have Missed
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
State and Local Governments’ Fiscal Future
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
Auditing the Government’s Books
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
State and Local Fiscal Futures (podcast)
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
Posted in Budget and Spending, Podcast
Tagged financial forecast, fiscal forecasting, fiscal outlook, local government, SI, state budgets
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GAO’s Strategic Issues Team
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
Projecting the Future of Federal Finances: Long-Term Fiscal Simulations
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.
Posted in Budget and Spending, Fiscal Outlook and The Debt, Government Operations, Podcast
Tagged debt, fiscal exposures, fiscal outlook, SI, Susan Irving
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Fiscal Exposures: 5 Sources of Risk that Drive Future Spending
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
Podcast on GAO’s State and Local Fiscal Outlook Model Update
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
Posted in Budget and Spending, Podcast
Tagged budget, fiscal outlook, fiscal pressures, local government, model, podcast, revenue, spending, states, tax
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