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Addressing the Deficit: Budgetary Implications of Selected GAO Work

  Premium   Download PDF Now (112 pages)
Report Type Reports and Testimonies
Report Date March 11, 1994
Report No. OCG-94-3
Subject
Summary:

GAO has consistently stressed the urgent and ultimately unavoidable need to reduce the deficit. The persistently high deficit levels of the 1980s and 1990s and the mounting debt burden--now more than $4 trillion--are hobbling government's ability to meet pressing national needs and are absorbing savings that could otherwise be used to finance investment. This report presents options for spending reductions and revenue increases, which stem from key findings and issues developed in GAO's audits and evaluations. GAO's deficit reduction framework consists of three broad strategies: considering whether to end or revise government services, redefining for whom these services are or should be provided, and exploring how the services can be delivered more efficiently. The options in this report cover a host of federal policies and programs, ranging from the dairy price support system to burden sharing in Korea to the collection of gasoline excise taxes.

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