The Federal Government is on an Unsustainable Fiscal Path

Growing debt is not just a number—it represents a threat to our economy and our ability to meet national needs and priorities. The federal deficit (the amount of money spent vs. the amount collected) increased for the fourth consecutive year. This year—and for the foreseeable future—the annual deficit is expected to top $1 trillion.

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Related:

FASAB Statement 56: Understanding New Government Financial Accounting Loopholes