LONG-TERM BUDGET ISSUES: Moving From Balancing the Budget to Balancing Fiscal Risk

摘要

Chairman Domenici, Ranking Member Conrad, and other Senators, I am pleased to be here today to present GAO s perspective on the long-range fiscal policy challenges facing this Congress and our nation. In recent testimony before this committee, Federal Reserve Chairman Alan Greenspan observed that the new, larger surplus projections have reshaped the choices and opportunities before us. That is true. As I have noted before, this Administration and this Congress enter the 21st Century facing new opportunities and new challenges. You have the opportunity to respond to many of today s wants, but also the obligation to prepare for the long term.