Quantifying the Current U.S. Fiscal Imbalance
Points to the growth of three programs (Medicare, Medicaid, and Social Security) as the source of the projected long-term U.S. fiscal imbalance. Evaluates the effect of policy changes on this imbalance, and finds that the long-run imbalance will persist and waiting to adopt policy changes will increase the size of the required annual primary deficit reduction.
Volume (Year): 50 (1997)
Issue (Month): 3 (September)
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- Alan J. Auerbach & Jagadeesh Gokhale & Laurence J. Kotlikoff, 1994. "Generational Accounting: A Meaningful Way to Evaluate Fiscal Policy," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 73-94, Winter.
- Ronald Lee & Shripad Tuljapurkar, 1998. "Stochastic Forecasts for Social Security," NBER Chapters, in: Frontiers in the Economics of Aging, pages 393-428 National Bureau of Economic Research, Inc.
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