What's at Stake? The CPA Profession's Call for Federal Fiscal Responsibility
What’s at Stake? The CPA Profession on Federal Fiscal Responsibility offers guidance on how the U.S. government’s financial statements can be used for greater understanding of the nation’s fiscal health. Greg Anton, CPA, CGMA, Past Chairman, AICPA Board of Directors, and the founder of the Institute’s “What’s at Stake” initiative, offers a non-partisan and clear analysis into why the financial statements provide a different perspective compared to the annual budget.
With its "What's at Stake" initiative, the Institute seeks to call attention to how and why the financial sustainability of our country is at stake. The CPA profession calls on both policymakers and the public to engage in a national dialogue to improve our country’s fiscal health.
Featured Video: What’s at Stake? The CPA Profession’s Call for Federal Financial Responsibility
In the AICPA’s fifth installment of the “What’s at Stake” series, Anton reports on the federal budget deficit’s size and significance, putting a trillion dollars in context, in view of social insurance obligations totaling $65 trillion that aren’t reflected on the federal government’s balance sheet. Person-on-the-street interviews capture individuals’ thoughts on the deficit and its impact on their lives. The video also calls attention to a bipartisan congressional resolution highlighting the fiscal state of the nation.
What's at Stake: The CPA Profession's Call for Federal Financial ResponsibilityMore on AICPA TV
Below are links to the current versions of the resources referenced in the What's at Stake video:
- Most Recent Fiscal Year Financial Report of the United States Government
- Senate Fiscal State of the Nation Resolution
- House Fiscal State of the Nation Resolution
Tools for Starting a Dialogue in Your Community
Contact your state CPA society.
The Board of Directors of the AICPA adopted a resolution underscoring the need to put America on a better economic path and supporting two non-partisan efforts, the Campaign to Fix the Debt and the Comeback America Initiative. Read the resolution.
Campaign to Fix the Debt is a non-partisan movement to put America on a better fiscal and economic path. The Campaign mobilizes key communities--including leaders from business, government and policy--and individuals across America who want to see elected officials solve the nation's fiscal challenges. Learn more about the Campaign’s petition to policy makers to fix the debt.
Comeback America Initiative: Keeping America Great. Led by former Comptroller General David Walker, this organization promotes fiscal responsibility and sustainability by engaging the public and assisting key policymakers on a non-partisan basis in order to achieve solutions to America’s fiscal imbalances.
The Committee for a Responsible Federal Budget is a bipartisan, non-profit organization committed to educating the public about issues that have significant fiscal policy impact. The Committee is made up of some of the nation's leading budget experts including many of the past Chairmen and Directors of the Budget Committees, the Congressional Budget Office, the Office of Management and Budget, the Government Accountability Office and the Federal Reserve Board.
The Congressional Budget Office produces independent analyses of budgetary and economic issues to support the Congressional budget process. View 2015 federal budget data and projections.
The IFAC Accountability. Now. project is a campaign to change the way governments think about financial reporting, and to promote transparency and openness as the instrument for accountability to citizens.
Comeback America: The National’s Fiscal Challenge and a Way Forward: David M. Walker, CPA, Founder & CEO, Comeback America Initiative discusses the true financial condition of the U.S., pending, tax reform and solutions to federal, state and local fiscal imbalances.
The Priority of Fixing our National Debt: Paul Stebbins of Campaign to Fix the Debt, speaks about the importance of addressing the country’s debt levels.
Diana Huntress Deem, CPA
Director – Congressional & Political Affairs