State and local governments could face 50 years of fiscal troubles — through 2060 — if current policy stays the same, the congressional Government Accountability Office said in a report published this week.

The report projects that under current law rising costs for health care, pension liabilities, education and infrastructure will force municipalities to cut spending by an average of 12.3% every year. Conversely, tax revenue is projected to be flat over the 50-year period, leading to a long-term fiscal imbalance.

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