The Government Accountability Office has released a report on the possibility of using accrual budgeting instead of cash budgeting to bring more attention to the nation's long-term fiscal challenges.
The GAO concluded that the current cash- and obligation-based budget in the U.S. provides equal or better control than full accrual budgeting. But the GAO recommended that the U.S. should consider expanding the use of accrual measurement in the budget to certain areas where it would enhance up-front control, especially federal employee pensions, and retiree health, insurance and environmental liabilities.
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