Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo

Transition Series: The Budget Deficit

  Premium   Download PDF Now (23 pages)
Report Type Reports and Testimonies
Report Date Nov. 1, 1988
Report No. OCG-89-1TR
Subject
Summary:

GAO reviewed the budget deficit problem and provided an approach for reducing the deficit.

GAO found that the deficit problem is worse than it appears because: (1) the actual deficit is higher than the reported deficit; (2) numerous currently unfunded programs need to be funded; and (3) escalating costs in existing programs will require funding reductions and terminations. GAO also found that solving the deficit problem will require: (1) recognition that continuing budget deficits are a crisis; (2) the combined efforts of the executive and legislative branches; and (3) a multi-year budget strategy.

« Return to search Government Accountability Office reports