The Government Accountability Office (GAO) on Tuesday warned Congress and the incoming administration that the federal debt is on an "unsustainable long-term fiscal path."
"These policymakers also face a federal government highly leveraged in debt by historical norms and on an unsustainable long-term fiscal path caused by a structural imbalance between revenue and spending absent a change in fiscal policy," the GAO said.
According to the GAO report, the total federal debt rose to $19.7 trillion during fiscal year 2016, an increase of $1.4 trillion year over year.
"Decisions over the near term to enhance economic growth and address national policies need to be accompanied by a fiscal plan to put the national government on a more sustainable long-term path."
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