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The Nation's Fiscal Health: Actions Needed to Achieve Long-Term Fiscal Sustainability

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Report Type Reports and Testimonies
Report Date June 26, 2019
Release Date June 26, 2019
Report No. GAO-19-611T
Summary:

The Comptroller General testified before Congress about the government’s unsustainable fiscal outlook, the need for a long-term plan to address growing debt, and other aspects of the nation's fiscal health.

For example, public debt as a share of the economy is projected to top its record level within 13 to 20 years. Its continued growth is unsustainable. A plan to put the government on a sustainable path will require changes to both spending and revenues.

This statement is based on our prior work on the High Risk List; the fragmentation, overlap, and duplication annual report; natural disasters and climate change; and other topics.

Projections show the debt will grow to unsustainable levels over the long term

Debt is projected to increase as a share of gross domestic product according to projections by GAO and others.

Debt is projected to increase as a share of gross domestic product according to projections by GAO and others.

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