America's Fiscal Future
Published: Apr 08, 2006. Publicly Released: Apr 08, 2006.
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Highlights
This is a Comptroller General Presentation delivered to the National Conference of State Legislatures on April 8, 2006. Major topics of this presentation include: composition of federal spending, estimated fiscal exposures, the unsustainable current fiscal policy, selected state fiscal challenges, and 21st century challenges report.
America's Fiscal Future
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Table of contents
- Open
- The Case for Change
- Composition of Federal Spending
- Federal Spending for Mandatory and Discretionary Programs
- Surplus or Deficit as a Share of GDP Fiscal Years 1962-2005
- Fiscal Year 2004 and 2005 Deficits and Net Operating Costs
- Estimated Fiscal Exposures ($ trillions)
- How Big is Our Growing Fiscal Burden?
- Composition of Spending as a Share of GDP Under Baseline Extended
- Composition of Spending as a Share of GDP Assuming Discretionary Spending Grows with GDP after 2006 and All Expiring Tax Provisions are Extended
- Growth in Spending for Social Security, Medicare, and Medicaid Expected to Outpace Economic Growth
- Social Security, Medicare, and Medicaid Spending as a Percent of GDP
- Debt per Capita Could Exceed GDP Per Capita by 2030 Assuming Discretionary Spending Grows with GDP after 2006 and All Expiring Tax Provisions are Extended
- Measured on an Outlay Equivalent Basis, Tax Expenditures Exceeded Discretionary Spending for Most Years in the Last Decade
- Health Care Is the Nation's Top Tax Expenditure in Fiscal Year 2005
- Current Fiscal Policy Is Unsustainable
- Is this Only the Federal Government's Problem?
- Selected State Fiscal Challenges
- The Way Forward: Three Pronged Approach
- 21st Century Challenges Report
- Twelve Reexamination Areas
- Key National Indicators
- Key National Indicators: Where the World's Sole Superpower Ranks
- Moving the Debate Forward
- These Challenges Go Beyond Numbers and Dollars
- Close