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 2007-01-23 monographic deposited born digital 24 p. GA 1.13:GAO-07-389T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-389T P0b002ee1803956f7 f:d07389t DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-07-389T machine generated eng fdlp REPORT GAOREPORTS-GAO-07-389T GAO-07-389T Budget deficit Economic growth Entitlement programs Financial management Fiscal policies Future budget projections Strategic planning Taxes Transparency Testimony A65085 The Comptroller General testified before Congress for a hearing entitled "Why Deficits Matter." The presentation touched on several points. First, the current financial condition in the United States is worse than is widely understood. Second, the current fiscal path is both imprudent and unsustainable. Third, improvements in information and processes are needed and can help. And finally, meeting the long-term fiscal challenge will require (1) significant entitlement reform to change the path of those programs; (2) reprioritizing, restructuring and constraining other spending programs; and (3) more revenues--hopefully through a reformed tax system. This will take bipartisan cooperation and compromise. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-389T/html/GAOREPORTS-GAO-07-389T.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-389T/pdf/GAOREPORTS-GAO-07-389T.pdf GAO-07-389T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-389T Testimony GAO-07-389T; Long-Term Budget Outlook: Deficits Matter--Saving Our Future Requires Tough Choices Today; Budget deficit Economic growth Entitlement programs Financial management Fiscal policies Future budget projections Strategic planning Taxes Transparency