United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2007-09-28 monographic deposited born digital 13 p. GA 1.13:GAO-07-1261R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-1261R P0b002ee1803888fe f:d071261r DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-07-1261R machine generated eng fdlp REPORT GAOREPORTS-GAO-07-1261R GAO-07-1261R Balanced budgets Budget cuts Budget deficit Deficit reduction Econometric modeling Economic analysis Economic growth Federal social security programs Fiscal policies Gross national product Medicaid Medicare Fiscal imbalance Correspondence A76817 Since 1992, GAO has published long-term fiscal simulations of what might happen to federal deficits and debt levels under varying policy assumptions. GAO developed its long-term model in response to a bipartisan request from Members of Congress who were concerned about the longterm effects of fiscal policy. GAO's simulations were updated with the CBO's August budget projections and economic assumptions and continue to indicate that the long-term federal fiscal outlook remains unsustainable. This update combined with our analysis of the fiscal outlook of state and local governments demonstrates that the fiscal challenges facing all levels of government are linked and should be considered in a strategic and integrated manner. GAO updates its simulations three times a year as new estimates become available from: CBO's Budget and Economic Outlook (January), Social Security and Medicare Trustees Reports (spring), and CBO's Budget and Economic Outlook: An Update (late summer). This product responds to congressional interest in receiving updated simulation results. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-1261R/html/GAOREPORTS-GAO-07-1261R.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-1261R/pdf/GAOREPORTS-GAO-07-1261R.pdf GAO-07-1261R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-1261R Correspondence GAO-07-1261R; The Nation's Long-Term Fiscal Outlook, August 2007 Update: Despite Recent Improvement in the Annual Deficit, Federal Fiscal Policy Remains Unsustainable; Balanced budgets Budget cuts Budget deficit Deficit reduction Econometric modeling Economic analysis Economic growth Federal social security programs Fiscal policies Gross national product Medicaid Medicare Fiscal imbalance