A discussion of why budget deficits are inadequate measures of the long-run effect of fiscal policy on intergenerational redistributi- on, and an assertion that policy evaluation would be better served by looking at generational accounts.

Federal surpluses have come as a pleasant surprise, but using them to finance additional government spending would be disastrous. By the middle of the next decade, Social Security and Medicare outlays will soar beyond projected payroll taxes. While using the surpluses to offset future...

An investigation of the allocative consequences of resource shifts that would result if the Clinton administration's budget plan is adopted, examining the timing and composition of both net outlay cuts and net revenue increases represented in the budget proposal, as well as the generational...

If U.S. spending goes as projected, future generations will give up almost half their lifetime labor income to balance the government's books. After showing that current policy is not sustainable, this article reports the size and timing of the changes necessary to make it so.

A summary of the administration's final budget bill that was enacted in summer 1993, highlighting the changes in the scope and timing of deficit reductions and in the amount and distribution of revenue increases.