The Nation's Fiscal Health

Download or read book The Nation's Fiscal Health written by United States. Government Accountability Office and published by . This book was released on 2020 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides an update on the federal government's fiscal condition at the end of FY 2019 and the unsustainable path it is on if policies don't change. Among its findings: Publicly held debt rose to 79% of GDP. The Congressional Budget Office and this new report both project it will continue to grow. Interest on the debt is the fastest growing item in the budget; it is projected to be the largest spending category by 2049. The longer action is delayed, the more drastic the changes that will be needed to address the issue.