Saving Our Future requires Tough Choices Today
Published: Jun 12, 2006. Publicly Released: Jun 12, 2006.
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Highlights
This is a Comptroller General Presentation delivered to the Atlanta Rotary Club on June 12, 2006. Major topics of this presentation include: composition of federal spending, growth in spending for social security, medicare, and medicaid, unsustainable fiscal policy, key national indicators, and 21st century challenges report.
Saving Our Future requires Tough Choices Today
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Table of contents
- Open
- Composition of Federal Spending
- Federal Spending for Mandatory and Discretionary Programs
- Surplus or Deficit as a Share of GDP Fiscal Years 1962-2005
- Fiscal Year 2004 and 2005 Deficits and Net Operating Costs
- Estimated Fiscal Exposures ($ trillions)
- How Big is Our Growing Fiscal Burden?
- Composition of Spending as a Share of GDP Under Baseline Extended
- Composition of Spending as a Share of GDP Assuming Discretionary Spending Grows with GDP after 2006 and All Expiring Tax Provisions are Extended
- Growth in Spending for Social Security, Medicare, and Medicaid Expected to Outpace Economic Growth
- Measured on an Outlay Equivalent Basis, Tax Expenditures Exceeded Discretionary Spending for Most Years in the Last Decade
- Health Care Is the Nation's Top Tax Expenditure in Fiscal Year 2005
- Current Fiscal Policy Is Unsustainable
- The Way Forward: A Three-Pronged Approach
- Key National Indicators
- Key National Indicators: Where the World's Sole Superpower Ranks
- 21st Century Challenges Report
- Moving the Debate Forward
- Close