The U.S. Government Accountability Office (GAO) published a report urging immediate national-level action to address the federal government’s “fiscal failure”.
The 49-page document, titled “The Nation’s Fiscal Health”, warns that “Congress and the incoming administration face serious economic security and social challenges” and “an unsustainable long-term fiscal path caused by a structural imbalance between revenue and spending.”
This obviously didn’t happen under Donald Trump’s watch but the GAO never sounded this dramatic or desperate before now.
President Trump appears to be a big spender and is planning to lower taxes.
The report states:
Federal spending continues to outpace revenue—by $587 billion in 2016—and, absent policy changes, the structural gap between revenues and spending puts the federal government on an unsustainable long-term fiscal path.
Federal policymakers face economic, security, and social challenges requiring difficult policy choices, but a long-term fiscal plan is also needed to preserve flexibility to address unforeseen events.
Barack Obama left this administration is a terrible state but the left seems to be unaware of that. They want more of what we just had.
Obama left this administration without any real financial room to maneuver.