The population of the United States is aging. The authors review a variety of the implications this has for U.S. national saving rates and discuss the policy issues that they raise. After reviewing what different models would predict for household saving over the next several decades, they...

An alternative to deficit accounting is proposed for understanding the government's treatment of current and future generations. The alternative, called generational accounting, is based on the government's intertemporal budget constraint. Generational accounting is used to describe the...