THE NATIONAL RESEARCH COUNCIL OF THE NATIONAL ACADEMIES
AND THE NATIONAL ACADEMY OF PUBLIC ADMINISTRATION
Committee on the Fiscal Future of the United States
Choosing the Nation’s Fiscal Future
John L. Palmer, University Professor and Dean Emeritus, Maxwell School of Citizenship and Public Affairs, Syracuse University, New York and Co-Chair, Committee on the Fiscal Future of the United States, The National Research Council of the National Academies and The National Academy of Public Administration
Rudolph G. Penner, Institute Fellow, Urban Institute; former Director, Congressional Budget Office, Washington, D.C.; and Co-Chair, Committee on the Fiscal Future of the United States, The National Research Council of the National Academies and The National Academy of Public Administration
Choosing the Nation’s Fiscal Future addresses the nation’s fiscal and economic conditions and offers U.S. leaders ways to correct the nation’s fiscal course and confront its rapidly growing debt – a burden that threatens living standards for future generations or the risk of a financial crisis.
The report offers policymakers illustrative pathways to align federal spending and revenues so that national debt is stabilized within a decade. The report also provides a set of simple tests to determine whether any proposed federal budget would lead to long-term fiscal stability.
These briefings were for members of Congress and congressional staff only. The report was released to the public on January 13, 2010 and can be found, in its entirety, on the Web site of the National Academies Press.