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Diane Publishing Books
Fiscal Exposures: Improving Cost Recognition in the Federal Budget
Susan J. Irving (au)
The federal governmentäó»s long-term fiscal imbalances are driven on the spending side by the effects of an aging population and rising health care costs on Social Security and major federal health programs. However, GAO identified a variety of other fiscal exposures -- responsibilities, programs, and activities that may legally commit or create the expectation for future federal spending -- that vary as to source, extent of the government's legal commitment, and magnitude. A more complete understanding of these other fiscal exposures can help policymakers anticipate changes in future spending and enhance control and oversight over federal resources. This report provides information on risks facing the federal budget. It (1) examines selected programs that create a fiscal exposure, including the extent and estimated magnitude of the governmentäó»s legal commitment; and (2) assesses how fiscal exposures could be better recognized in the budget. Table and figures. This is a print on demand report.
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