Federal Budget: The President's Midsession Review.

Abstract

This statement discusses the President's Midsession Review and the implications of the President's proposals on fiscal policy and the federal budget. The press has focused on the fact that both 0MB and CBO have revised upward their projections for the unified budget surplus. The phrase "$1 trillion more" has been widely reported in the media. Further, these new projections show an on-budget surplus throughout the next 10-15 years. An earlier-than-expected and larger-than-expected surplus is only good news for the future health of our economy-if two conditions are met. First, the surplus must be realized. Second, the surplus must be put to prudent use. To the extent that the surplus is used for debt reduction, it offers the benefit of lower interest costs.

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Document Details

Document Type
Technical Report
Publication Date
Jul 21, 1999
Accession Number
ADA366289

Entities

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Biomedical

DTIC Thesaurus Topics

  • Accounting
  • Baby Boomers
  • Budgets
  • Demographic Cohorts
  • Discretionary Spending
  • Electronic Mail
  • Federal Budgets
  • Governments
  • Health
  • Health Care
  • Health Services
  • Income
  • Living Standards
  • Medicare
  • Security
  • Social Security
  • United States

Readers

  • Public Financial Management and Budgeting
  • Systems Analysis and Design