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 2008-03-21 monographic deposited born digital 16 p. GA 1.13:GAO-08-591R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-08-591R P0b002ee18039df6f f:d08591r DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-08-591R machine generated eng fdlp REPORT GAOREPORTS-GAO-08-591R GAO-08-591R Balanced budgets Budget cuts Budget deficit Deficit reduction Econometric modeling Economic analysis Economic growth Federal social security programs Fiscal policies Future budget projections Gross national product Medicaid Medicare Fiscal imbalance Correspondence A81369 Since 1992, GAO has published long-term fiscal simulations of what might happen to federal deficits and debt levels under varying policy assumptions. We developed our long-term model in response to a bipartisan request from Members of Congress who were concerned about the long-term effects of fiscal policy. Our simulations were updated with Congressional Budget Office (CBO's) January budget and economic projections 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. We update our 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-08-591R/html/GAOREPORTS-GAO-08-591R.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-591R/pdf/GAOREPORTS-GAO-08-591R.pdf GAO-08-591R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-08-591R Correspondence GAO-08-591R; The Nation's Long-Term Fiscal Outlook: January 2008 Update; Balanced budgets Budget cuts Budget deficit Deficit reduction Econometric modeling Economic analysis Economic growth Federal social security programs Fiscal policies Future budget projections Gross national product Medicaid Medicare Fiscal imbalance