budget constraint is a constraint on the government's instruments that must be satisfied for all admissible values of the … predetermined variables in the government's budget constraint; and anomalous behaviour of the equilibrium' price sequences …

Are generational accounts informative about the effect of the budget on the intergenerational distribution of resources … measure the effect of the budget on the lifetime consumption of private goods and services. They ignore the intergenerational … ignores the effect of the budget on before-tax and before-transfer quantities and prices, including before-tax and -transfer …