This paper introduces extensions of the National Income Accounts to include a consistent treatment of consumer durables and government capital in the measurement of consumption and income, and explicitly tests alternative propositions concerning the effects of government financial policy on real...

While the short-run financial status of Social Security is secure, its long-run financial status is very uncertain. The retirement and disability part of the system (OASDI) is projected to be in long-run actuarial deficit under the Social Security Administration's intermediate economic and...