Status Report on the Administration's Proposals for Budgetary Savings in FY 1983

GAO provided information regarding the current status of nine management initiatives to reduce the Federal debt and updated the administration's estimates of the potential savings for fiscal year (FY) 1983.

The administration proposed saving $20.3 billion during FY 1983 by carrying out nine management initiatives: prevention of fraud, waste, and abuse; improved debt collection; Federal employment reduction; Federal property disposition; accelerated outer continental shelf leasing; Federal pay restraint; improved asset sale management; revised Federal Housing Administration mortgage insurance payments; and improved tax collection and enforcement. For a variety of reasons, including late implementation of new legislation and the effect of changes in the economy, GAO believes that some of the savings forecast have been delayed and will probably not begin to accrue until late in FY 1983. Other estimates are clearly optimistic and the possibility of achieving the projected level of savings is unlikely. GAO believes that the achievement of the savings will depend upon aggressive action by the agencies and the ability of the Office of Management and Budget to ensure that the agencies achieve their goals.