For example, the unified budget deficit provides information on borrowing  needs and current cash flow. Meeting the Long- Term Fiscal Challenge Requires Action on the Spending and Tax Sides of the Budget-- Cooperation and Compromise Will Be Necessary

There is no easy way out of the challenge we face. As I noted, we need to start with real changes in existing entitlement  programs to change the path of those programs. Reprioritization  and constraint will be necessary in other spending programs. Finally, we  will need more revenues—hopefully through a reformed tax system. This is a work of the U.S. government and is not subject to copyright protection in the  United States.
What GAO Found

The Comptroller General testified before Congress for a hearing entitled "Why Deficits Matter." The presentation touched on several points. First, the current financial condition in the United States is worse than is widely understood. Second, the current fiscal path is both imprudent and unsustainable. Third, improvements in information and processes are needed and can help. And finally, meeting the long-term fiscal challenge will require (1) significant entitlement reform to change the path of those programs; (2) reprioritizing, restructuring and constraining other spending programs; and (3) more revenues--hopefully through a reformed tax system. This will take bipartisan cooperation and compromise.