Download or read book The Nation s Fiscal Health written by United States. Government Accountability Office and published by . This book was released on 2020 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides an update on the federal government's fiscal condition at the end of FY 2019 and the unsustainable path it is on if policies don't change. Among its findings: Publicly held debt rose to 79% of GDP. The Congressional Budget Office and this new report both project it will continue to grow. Interest on the debt is the fastest growing item in the budget; it is projected to be the largest spending category by 2049. The longer action is delayed, the more drastic the changes that will be needed to address the issue.

Download or read book The Nation s Fiscal Health written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-01-28 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: THE NATION'S FISCAL HEALTH: Action is Needed to Address the Federal Government's Fiscal Future

Download or read book The Nation s Fiscal Health Action Is Needed to Address the Federal Government s Fiscal Future 705300 written by and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Nation s Fiscal Health written by United States. Government Accountability Office and published by . This book was released on 2021 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Congress and the administration have responded in an unprecedented manner to address the COVID-19 pandemic and the resulting severe economic repercussions. Since March 2020, pandemic response has cost trillions of federal dollars. Until the country better contains the virus, the pandemic will likely remain a significant obstacle to more robust economic activity. After the pandemic recedes and the economy substantially recovers, Congress and the administration should quickly pivot to developing an approach to place the government on a sustainable long-term fiscal path. In fiscal year 2020 debt held by the public reached about 100 percent of gross domestic product (GDP), up from about 79 percent of GDP in fiscal year 2019. Absent any action, debt held by the public is projected to surpass 200 percent of GDP by 2048.

Download or read book Choosing the Nation s Fiscal Future written by National Academy of Public Administration and published by National Academies Press. This book was released on 2010-02-12 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: A mismatch between the federal government's revenues and spending, now and in the foreseeable future, requires heavy borrowing, leading to a large and increasing federal debt. That increasing debt raises a serious challenge to all of the goals that various people expect their government to pursue. It also raises questions about the nation's future wealth and whether too much debt could lead to higher interest rates and even to loss of confidence in the nation's long-term ability and commitment to honor its obligations. Many analysts have concluded that the trajectory of the federal budget set by current policies cannot be sustained. In light of these projections, Choosing the Nation's Fiscal Future assesses the options and possibilities for a sustainable federal budget. This comprehensive book considers a range of policy changes that could help put the budget on a sustainable path: reforms to reduce the rate of growth in spending for Medicare and Medicaid; options to reduce the growth rate of Social Security benefits or raise payroll taxes; and changes in many other government spending programs and tax policies. The book also examines how the federal budget process could be revised to be more far sighted and to hold leaders accountable for responsible stewardship of the nation's fiscal future. Choosing the Nation's Fiscal Future will provide readers with a practical framework to assess budget proposals for their consistency with long-term fiscal stability. It will help them assess what policy changes they want, consistent with their own values and their views of the proper role of the government and within the constraints of a responsible national budget. It will show how the perhaps difficult but possible policy changes could be combined to produce a wide range of budget scenarios to bring revenues and spending into alignment for the long term. This book will be uniquely valuable to everyone concerned about the current and projected fiscal health of the nation.

Download or read book The Nation s Fiscal Health Information on Spending and Revenue Implications of Potential Targets written by United States. Government Accountability Office and published by . This book was released on 2020 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Nation s Fiscal Health A Long Term Plan Is Needed for Fiscal Sustainability 710039 written by and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Government Accountability Office s Annual Report on the Nation s Fiscal Health written by United States. Congress. Senate. Committee on the Budget and published by . This book was released on 2021 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Nation s Fiscal Health Effective Use of Fiscal Rules and Targets 709576 written by and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book America s Fiscal Constitution written by Bill White and published by PublicAffairs. This book was released on 2014-04-01 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: What would Washington, Jefferson, Madison, Lincoln, the Roosevelts, Truman, and Eisenhower have done about today's federal debt crisis? America's Fiscal Constitution tells the remarkable story of fiscal heroes who imposed clear limits on the use of federal debt, limits that for two centuries were part of an unwritten constitution. Those national leaders borrowed only for extraordinary purposes and relied on well-defined budget practices to balance federal spending and revenues. That traditional fiscal constitution collapsed in 2001. Afterward -- for the first time in history -- federal elected officials cut taxes during war, funded permanent new programs entirely with debt, grew dependent on foreign creditors, and claimed that the economy could not thrive without routine federal borrowing. For most of the nation's history, conservatives fought to restrain the growth of government by insisting that new programs be paid for with taxation, while progressives sought to preserve opportunities for people on the way up by balancing budgets. Virtually all mainstream politicians recognized that excessive debt could jeopardize private investment and national independence. With original scholarship and the benefit of experience in finance and public service, Bill White dispels common budget myths and distills practical lessons from the nation's five previous spikes in debt. America's Fiscal Constitution offers an objective and hopeful guide for people trying to make sense of the nation's current, most severe, debt crisis and its impact on their lives and our future.

Download or read book Confronting the nation s fiscal policy challenges written by Douglas W. Elmendorf and published by . This book was released on 2011 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Confronting the Nation s Fiscal Policy Challenges written by Congressional Budget Office (U.S.) Staff and published by . This book was released on 2012-06-13 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The federal government is confronting significant and fundamental budgetary challenges. If current policies are continued in coming years, the aging of the population and the rising cost of health care will boost federal spending, as a share of the economy, well above the amount of revenues that the federal government has collected in the past. As a result, putting the federal budget on a sustainable path will require significant changes in spending policies, tax policies, or both. The task of addressing those formidable challenges is complicated by the weakness of the economy and the large numbers of unemployed workers, empty houses, and underused factories and offices. Changes that might be made to federal spending or tax policies could have a substantial impact on the pace of economic recovery during the next few years as well as on the nation's output and people's income over the longer term.

Download or read book Confronting the Nation s Fiscal Policy Challenges written by Douglas W. Elmendorf and published by . This book was released on 2011-07-19 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Statement of Douglas W. Elmendorf, Dir., Congressional Budget Office (CBO), on the significant and fundamental budgetary challenges confronting the federal govt. If current policies are continued in coming years, the aging of the population and the rising cost of health care will boost federal spending, as a share of the economy, well above the amount of revenues that the federal govt. has collected in the past. As a result, putting the federal budget on a sustainable path will require significant changes in spending policies, tax policies, or both. The task of addressing those formidable challenges is complicated by the weakness of the economy and the large numbers of unemployed workers, empty houses, and underused factories and offices. Changes that might be made to federal spending or tax policies could have a substantial impact on the pace of economic recovery during the next few years as well as on the nation's output and people's income over the longer term. Figures. This is a print on demand report.

Download or read book Standards for Internal Control in the Federal Government written by United States Government Accountability Office and published by Lulu.com. This book was released on 2019-03-24 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers and program managers are continually seeking ways to improve accountability in achieving an entity's mission. A key factor in improving accountability in achieving an entity's mission is to implement an effective internal control system. An effective internal control system helps an entity adapt to shifting environments, evolving demands, changing risks, and new priorities. As programs change and entities strive to improve operational processes and implement new technology, management continually evaluates its internal control system so that it is effective and updated when necessary. Section 3512 (c) and (d) of Title 31 of the United States Code (commonly known as the Federal Managers? Financial Integrity Act (FMFIA)) requires the Comptroller General to issue standards for internal control in the federal government.

Download or read book A Fiscal Cliff written by John Merrifield and published by Cato Institute. This book was released on 2020-10-20 with total page 590 pages. Available in PDF, EPUB and Kindle. Book excerpt: "'A Fiscal Cliff' is precisely the right book for perilous fiscal times. Giants in economics and public policy offer a spirited defense of fiscal rules critically needed to protect our children and grandchildren from a bleak future." -Richard K. Vedder, Distinguished Professor of Economics Emeritus, Ohio University/p> The unsustainable, and still rapidly growing, U.S. federal government debt is a classic case of ‘'in denial.” Indeed, we are no closer to a solution to the debt crisis than we were ten years ago when the Simpson-Bowles Commission issued a report with recommendations to address the nation's debt crisis. The bipartisan Commission fell short of the supermajority vote required to submit their recommendations to Congress. President Trump declared a debt crisis, but didn't act like it. Various commissions and think tanks have made numerous recommendations. In 2019, a Congressional Committee was appointed to recommend budget process reforms, but that Committee could not agree on any recommendations to submit to Congress. While the dominant sentiment is that maybe if we ignore it, it will just go away, the debt crisis will not just vanish. A Fiscal Cliff: New Perspectives on the U.S. Debt Crisis is a timely addition to a critical policy discussion.

Download or read book The Fiscal Health of U S Cities written by Howard Chernick and published by . This book was released on 2014 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent bankruptcy filing by Detroit highlights the importance of measuring the fiscal health of the nation's central cities. In this paper we explore several means of assessing city fiscal health. In the first section, we describe methodology we employed to estimate the fiscal condition of Milwaukee, WI and its suburbs. In the second section, we employ a regression model to determine whether a measure of the fiscal health of a large sample of cities in 1982 developed by Helen Ladd and John Yinger is systematically related to the economic growth of these cities over the next 25 years. In the final section, we describe the construction of a fiscal database for 112 large central cities over the period 1977 to 2011. In creating what we refer to as fiscally standardized cities (FiSCs), we account for the wide variation in fiscal arrangements across U.S. cities. For each central city, the FiSC data include the revenue and expenditures of overlapping counties, school districts, and special districts. This unified framework allows systematic comparisons of city revenues and expenditures that have heretofore not been possible. We use the FiSC data to study the effect of the Great Recession on central cities. A predictive model for 2009-2013 suggests a sustained period of revenue decreases in many large cities. Pressure on the property tax from the housing crisis, together with declines in state and federal aid, are severely squeezing many cities. Actual revenue changes from 2009 to 2011 are broadly consistent with our forecasted revenue changes.

Download or read book A Glossary of Terms Used in the Federal Budget Process written by and published by DIANE Publishing. This book was released on 1993-12 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: A basic reference document for persons interested in the federal budget-making process. Emphasizes budget terms in addition to relevant economic and accounting terms to help the user appreciate the dynamics of the budget process. Also distinguishes between any differences in budgetary and non-budgetary meanings of terms. Over 300 terms defined. Index. Appendices: overview of the federal budget process, budget functional classification, and more.