GAO has been doing this report since 1992.
Very simple: Definitely worth taking a look. You can find it here.
Excellent work by Susan Irving and the team at GAO.
Two reports over the past two days by the most credible organizations that do budget analysis prove that, no matter what they say publicly, congressional Republicans don't actually give a damn about reducing the federal deficit or lower government spending.
Each report shows that, for the GOP, the deficit not only comes in no better than second every time, it's not really a serious consideration.
The first report, produced by the excellent analysts at the U.S. Government Accountability Office (GAO) and released on Monday, shows that last August's GOP-induced fight over raising the debt ceiling increased federal borrowing costs, that is, spending on interest, by a minimum of $1.3 billion. Here's the money quote:
Take a look at
about what the federal government can do if the federal debt ceiling is reached. It's especially good at describing the actions the Treasury has at its disposal.
The New York Times has a story this morning that former Commerce Secretary and Blackstone founder Pete Peterson is creating a foundation to, among other things, continue to promote his work of the past three decades that the U.S. fiscal sky is falling. Buried in the story is an announcement that U.S. Comptroller General David Walker, who heads the Government Accountabiliy Office, has been hired to head the foundation.