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Federal Government Long-Term Fiscal Outlook

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The Government Accountability Office has issued an update to the U.S. Government's Long-Term Fiscal Outlook.

A couple of money, or lack of money, quotes are:

…GAO’s simulations continue to show escalating levels of debt that illustrate that the long-term fiscal outlook remains unsustainable.

These fiscal challenges are driven by health care cost growth and demographic trends. Absent reform, Social Security, Medicare, and Medicaid will account for a growing share of the economy in coming years. The longer action to deal with the nation’s long-term fiscal outlook is delayed, the larger the changes will need to be, increasing the likelihood that they will be disruptive and destabilizing.

Yeah, we really need health care reform. Our social programs are about to blow up in our face and the federal government's answer is another program we can't possibly pay for.

Why do we even have a Government Accountability Office? It's an oxymoron with our government.

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