Georgia Legislative Policy Forum

GAO warns the nation is well down a path of fiscal unsustainability. "The nation responded with significant resources to address the public health and economic impacts of the COVID-19 virus. But as the public health goals are achieved, and the economy recovers, the government must turn its attention to developing a strategy to deal with our debt and put the government on a long-term sustainable fiscal path,” said Gene L. Dodaro, Comptroller General of the United States and head of the GAO. “The truth is our rate of debt growth can’t be maintained indefinitely. In fiscal year 2020, debt held by the public reached about 100 percent of gross domestic product, up from 79 percent a year earlier."

The Nation’s Fiscal Health: After Pandemic Recovery, Focus Needed on Achieving Long-Term Fiscal Sustainability The COVID-19 pandemic required a major federal response. But even before that, the federal government's long-term fiscal path was unsustainable...