United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Accounting and Information Management Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1993-11-09 monographic deposited born digital GA 1.13:AIMD-94-40 https://www.govinfo.gov/app/details/GAOREPORTS-AIMD-94-40 P0b002ee18038a394 f:ai94040 DGPO 2010-08-12 2011-03-24 GAOREPORTS-AIMD-94-40 machine generated eng fdlp REPORT GAOREPORTS-AIMD-94-40 AIMD-94-40 Investment planning Economic development Economic growth Federal programs Budgeting Economic policies Macroeconomic analysis Productivity Investments Budget decision packages Special Supplemental Food Program for Women, Infants, and Children WIC Letter Report AIMD Although reducing the federal deficit and making wise decisions on investments that will foster economic growth are the most important contributions that the federal government can make to a healthy and growing economy, the current budget structure, with its focus on short-term goals, does not meet these needs. If long-term economic growth is to be increased, the budget needs to focus on long-term decision-making. A federal investment budget component could help Congress and the President make better informed decisions on federal spending on consumption versus investments for the future. GAO, recognizing the importance of the deficit to long-term growth, urges that such a component be established within the context of a unified budget framework striving to cut the deficit over an appropriate period. Setting investment targets in the congressional budget resolution could be a useful and feasible way to implement this concept. GAO summarized this report in testimony before Congress; see: Budget Policy: Investment Budgeting for the Federal Government, by Paul L. Posner, Director of Budget Issues, before the Subcommittee on Legislation and National Security, House Committee on Government Operations. GAO/T-AIMD-94-54, Nov. 9, 1993 (22 pages). https://www.govinfo.gov/content/pkg/GAOREPORTS-AIMD-94-40/html/GAOREPORTS-AIMD-94-40.htm GAO/AIMD-94-40 https://www.govinfo.gov/app/details/GAOREPORTS-AIMD-94-40 Letter Report GAO/AIMD-94-40; Budget Issues: Incorporating an Investment Component in the Federal Budget; Investment planning Economic development Economic growth Federal programs Budgeting Economic policies Macroeconomic analysis Productivity Investments Budget decision packages Special Supplemental Food Program for Women, Infants, and Children WIC