Fiscal exposures: improving cost recognition in the federal budget: report to the Chairman, Committee on the Budget, House of Representa

By: Office, U. S. Government Accountability

"The federal government's long-term fiscal imbalances are driven on the spending side by the effects of an aging population and rising health care costs on Social Security and major federal health programs. However, GAO identified a variety of other fiscal exposures-responsibilities, programs, and activities that may legally commit or create the expectation for future federal spending-that vary as to source, extent of the government's legal commitment, and magnitude. A more complete understanding of these other fiscal exposures can help policymakers anticipate changes in future spending and enhance control and oversight over federal resources.GAO was asked to provide information on risks facing the federal budget. This report (1) examines selected programs that create a fiscal exposure, including the extent and estimated magnitude of the government's legal commitment; and (2) assesses how fiscal exposures could be better recognized in the budget. Based on its review of budget and financial data, GAO selected nine programs, including federal employee benefit programs, insurance programs, and the stock purchase agreements with Fannie Mae and Freddie Mac, and drew upon previous work to discuss potential approaches for improving budgetary attention to fiscal exposures."

• Format: Paperback
• Language: English
• ISBN: 1974182673
• ISBN13: 9781974182671
• Release Date: January 1
• Publisher: Createspace Independent Publishing Platform
• Length: 62 Pages
• Weight: 0.37 lbs.
• Dimensions: 0.1" x 8.5" x 11.0"