In this paper, I review US federal budget rules and present some evidence on their possible effects. From an analysis … of how components of the federal budget behaved under the different budget regimes, it appears that the rules did have … fiscal discipline on the political process of budget determination. The federal government has operated under a series of …

This paper provides alternative measures of federal budget surpluses over 10-year and long-term horizons. Official … baseline budget forecasts are based on a series of statutory requirements that may be at variance with reasonable expectation … long-term imbalances in social security and the rest of the budget implies that, under plausible definitions of current …