FEDERAL TRUST AND OTHER EARMARKED FUNDS: Answers to Frequently Asked Questions
GENERAL ACCOUNTING OFFICE WASHINGTON DC
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In fiscal year 1999, trust fund receipts represented nearly half of all federal budget receipts. Despite their importance in the budget, the relationship between federal trust funds such as the Social Security or Medicare trust funds and other earmarked funds such as the Nuclear Waste Fund or the Postal Service Fund and the rest of the federal budget can be confusing to both policy makers and the public. There is confusion about the distinction between federal trust funds and private trust funds, about how trust funds compare to other fund types, about how earmarked funds are controlled in the federal budget, and about the relationship between fund accounting and the governments overall financial condition.
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